Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
NAII Offers Terrorism Reinsurance Proposal
Oct 5 2001 // The National Association of Independent Insurers (NAII) offered a proposal to address risks related to terrorism and other catastrophic losses in the wake of the World Trade Center disaster. In addition, the Association...
A.M. Best Issues Comment and Rating Implications of Sept. 11 Attacks
Oct 2 2001 // Since the morning of Sept. 11, A.M. Best Co. has been gathering public and private information in order to assess the financial impact as well as the nuances of insurance coverage associated with the tragic attacks. To...
Insurers Assess Possible Government Role for War, Terror Cover
Oct 1 2001 // In the wake of the terrorist attacks on the U.S. the world’s insurers are reassessing government’s potential role as the reinsurer of last resort, and as an essential partner in handling war and terrorist...
TDI’s Montemayor Cautions Against Overreaction on Mold Issues
Sep 30 2001 // Texas Department of Insurance Commissioner José Montemayor is urging both insurers and consumers to avoid overreacting to issues concerning insurance coverage for mold. He said patience was needed as solutions are being...
Erie Indemnity Estimates Exposure from National Tragedy
Sep 28 2001 // Erie Indemnity Company announced that its share of catastrophe losses stemming from the tragic attacks of September 11th is expected to amount to between $5.5 and $6.7 million before federal income taxes. The after-tax...
Rising Loss Estimates Heighten Concern for the Stability of Some Insurance Sectors September 28, 20
Sep 28 2001 // In light of rising estimates of losses from the World Trade Center tragedy, some sectors of the insurance industry could suffer significant damage to their financial stability, according to a new assessment by Weiss...
NAII Urges Caution on Federal Intervention
Sep 28 2001 // The following statement can be attributed to Carl Parks, senior vice president of government affairs for the National Association of Independent Insurers (NAII): “House Financial Services Committee Chairman Michael...
AMR Corp. Notes Insurers Canceling Coverage
Sep 27 2001 // AMR Corp., the parent of American Airlines, said on Tuesday that insurers are canceling its coverage for claims caused by acts of war, terrorism, sabotage, hijacking and other similar events effective Sept. 26. According...
NAII: Auto Rating Discount Proposal Would Penalize Calif. Drivers
Sep 27 2001 // A proposed regulation that would allow only those drivers who renew coverage with their current insurer to receive discounts would stifle competition and unfairly penalize thousands of responsible motorists in the...
Arch Capital Group Ltd. to Acquire Rock River Insurance Company
Sep 27 2001 // Arch Capital Group Ltd. announced that it has entered into a definitive agreement to acquire Rock River Insurance Company, an approved excess and surplus lines insurer in 45 states and the District of Columbia and an...
China To License Nine European Insurers
Sep 27 2001 // Chinese insurance regulators have notified nine European insurers that they may submit documents preliminary to receiving licenses to begin or expand operations in the country. The action comes following China’s...
NAIC To Hold Summit to Discuss Terrorist Attacks
Sep 26 2001 // The National Association of Insurance Commissioners (NAIC) will hold a summit on Oct. 22-24 to discuss in greater depth the insurance issues related to the recent terrorist attacks. The summit will be held at the Omni...
Fitch Completes Ratings Analysis Following Terrorist Attacks
Sep 26 2001 // Fitch completed the initial phase of its ratings review of insurance and reinsurance companies exposed to losses from the terrorist attacks of Sept. 11 in the United States. Findings have been issued on 16 insurance...
St. Louis Hailstorm Still Impacting Insurers
Sep 26 2001 // Five months after a major hailstorm pelted north St. Louis County, Florissant city inspectors are still checking repair contractors’ work and the Missouri Department of Insurance is continuing to follow through on...
Insurance Leaders Meet with President Bush to Discuss State of Industry
Sep 25 2001 // In a recent White House meeting, Independent Insurance Agents of America (IIAA) CEO Robert A. Rusbuldt and other industry leaders reassured President Bush that insurance agents and companies are well-positioned to handle...
Calif. Session Ends with Defeat of Privacy Bill, Fate of Unbalanced Workers’ Comp Bill Unknown
Sep 25 2001 // The 2001 California Legislature delivered favorable results to the insurance industry by defeating unreasonable privacy mandates, lifting restrictions on anti-fraud efforts, and approving the collection of more funds from...
The Role of Reinsurance in the World TradeCenter Attacks
Sep 24 2001 // The business of reinsurance is a comparatively small but integral part of the overall insurance industry. Simply defined, reinsurance is transacted on the basis of one insurance company, the “reinsurer,”...
Sideswipe Tales Don’t Blindside Insurer
Sep 24 2001 // Three Modesto residents, Johnny B. Slefo, 42; Wylet G. Slefo, 42; and Bernadet Younan, 37, were arrested on one charge each of insurance fraud and booked into the Stanislaus County Jail. Bail was set at $15,000 each. The...
Unique Coverages: A Hard Market Look at How Programs Are Meeting Needs of Challenging Risks
Sep 24 2001 // Underwriting tough risks can be particularly troublesome in a hardening market. Where do you turn when rates skyrocket, exclusions multiply or worse, when carriers begin to shut their doors to classes that no longer...
South Dakota Supreme Court Rejects Third-Party Bad Faith Lawsuits
Sep 24 2001 // The insurance industry applauded the South Dakota Supreme Court for its recent review and rejection of a third-party bad faith lawsuit against an insurance company. “This is a major victory for insurers and their...
