Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
‘Money Laundering’ Through Insurers on the Increase
Sep 24 2001 // The conversion of illegal funds into legitimate accounts and investments, commonly known as “money laundering,” is a growth business. According to the International MonetaryFund, money laundering could account...
True Loss from Sept. 11 Terrorist Attacks on U.S. is Immeasurable, As Estimates of Potential Insured
Sep 24 2001 // “The World Trade Center is a living symbol of man’s dedication to world peace, his belief in cooperation of men and, through cooperation, his ability to find greatness.” —Minoru Yamasaki (1912-1987),...
NYSID Tells Insurers to Accept Affidavits for
Sep 24 2001 // the New York State Insurance Department moved to speed up the payment of life benefits to the families of the victims of the World Trade Center disaster by ordering insurers licensed in the state to waive the need for the...
More Lloyd’s Insurers Estimate U.S. Losses
Sep 21 2001 // Several more Lloyd’s insurers have recently announced the potential impact their underwriting syndiactes face following the terrorist attacks in the U.S. Chaucer Holdings, Plc announced that it expected to incur...
Alliance Disappointed with CA Legislature’s Efforts to Pass Needed Workers’ Comp Reform
Sep 20 2001 // For the third year in a row, the California legislature has come up short in its efforts to increase workers’ compensation benefits while enacting badly needed system reforms, according to the Alliance of American...
Workers’ Comp Insurers to Play Integral Role in Tragedy’s Aftermath
Sep 19 2001 // As the heroic rescue and recovery efforts in the wake of the Sept. 11 terrorist attacks continue, workers’ compensation insurers will have an important role in repairing the economic damage resulting from the...
Fitch Assesses Insurer/Reinsurer Loss Exposures to U.S. Attacks
Sep 19 2001 // Fitch announced that, while it is too soon to draw solid conclusions, it believes that a vast majority of the insurers and reinsurers it rates will be able to absorb any losses without material damage to their financial...
Insurers Will Do ‘Everything Within Their Power’ to Ease Claims Process in WTC Disaster September 1
Sep 18 2001 // The insurance industry will do everything it can to comply with the New York Insurance Department’s advice to insurance adjusters and underwriters to exercise care and “responsible judgment” in judging...
S&P: Insurance Industry Not Crippled by WTC Attack
Sep 17 2001 // Standard & Poor’s announced that the direct financial losses relating to the disasters will in all likelihood exceed the largest insured losses ever yet seen. “Any attempt to quantify the financial impact...
Terrorist Attack Paralyzes Economy; Insurers Face Largest Catastrophe Ever
Sep 17 2001 // The coordinated terrorist attacks in New York’s lower Manhattan and Washington, D.C., last week targeted indisputable symbols of American prestige and military power: the World Trade Center and the Pentagon. The...
Texas Insurers Estimate 60 Percent Increase in Water and Mold Claims
Sep 17 2001 // New estimates from the insurance industry predict insurer losses from water and mold damage claims will reach $780 million in Texas this year. The figure represents a 60 percent increase over claims from a year...
Study Says Insurers at Risk for Losses from Cyber-Security Breaches
Sep 17 2001 // Sloppy cyber-security practices in the online distribution of policies and services may leave insurers, their business partners and their customers vulnerable to massive losses. In addition, insurers are potentially...
Unique Coverages, A Hard Market Look at How Programs Are Meeting Needs of Challenging Risks
Sep 17 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...
Insurance Companies Had Major Presence in World Trade Center
Sep 14 2001 // While a myriad of businesses called the Twin Towers of the World Trade Center home, insurance companies were particularly hard hit with Tuesday’s terrorist attack on the 110-story landmarks. The following is a list...
Terrorist Attack Likely to Have Modest Impact on Property Insurers, Weiss Says
Sep 14 2001 // Although Tuesday’s terrorist attack on the World Trade Center building is a terribly tragic event, the impact on the property insurance industry is likely to be modest, according to a preliminary analysis by Weiss...
Insurers Express Sympathy For Attack Victims, Confidence in Coverage
Sep 13 2001 // Insurers from around the world have strongly condemned Tuesday’s terrorist attacks, and have expressed their sympathy for the victims and their families. A number of companies spoke out to affirm that, despite the...
NAII Releases Follow-Up on Insurance Ramifications of Attack
Sep 13 2001 // As rescue efforts continue in lower Manhattan, Washington, D.C., and Pennsylvania, catastrophe teams from property/casualty insurance companies are poised to enter the damaged areas to begin assessing the damage and paying...
CLARIFICATION: Lloyd’s Insurer Cotesworth
Sep 11 2001 // The article concerning Lloyd’s insurer and Managing General Agent Cotesworth & Co., which appeared on this Website September 7th, contained language which could be interpreted to adversely reflect on the...
Conseco Sues Six DO Insurers Over Litigation Coverage
Sep 11 2001 // Conseco Inc. is suing six of its own insurers, claiming they are attempting to dodge legitimate potential claims on directors and officers policies bought by the Indianapolis-based insurer. In its annual 10-Q filing with...
Terrorist Acts Strike New York and Washington
Sep 11 2001 // Terrorists crashed two hijacked planes into the World Trade Center this morning, causing countless deaths and untold damage as the twin 110-story towers collapsed. The crashes occurred minutes apart just before 9 a.m., and...
