Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Global Insurers Acknowledge Increased Exposures from Attacks
Oct 10 2001 // A number of global insurers/reinsurers have acknowledged greater exposure to claims related to the destruction of the World Trade Center, with increased estimates for the amount they expect to pay out. The total cost to...
Nevada Insurer Ordered to Stop Sales in Texas
Oct 10 2001 // State insurance regulators have ordered a Nevada insurance company to stop selling health policies and collecting premiums in Texas, after learning that the company had not been paying medical claims. According to a report...
Retreating Insurers Create Turmoil in the Texas HO Market
Oct 8 2001 // Despite efforts by the Texas Department of Insurance to stabilize the homeowners insurance market in the state, property/casualty insurers are bailing out of the Texas market or scaling back coverage, at least temporarily,...
A Look at Invoking War Exclusions
Oct 8 2001 // The destruction of the World Trade Center on Sept. 11, was a disaster from a variety of points of view. President Bush is right: it was the embodiment of evil, as are most terrorist attacks on civilians. It is also a...
Lloyd’s Estimates U.S. Disaster Losses at$1.91 Billion
Oct 8 2001 // Lloyd’s of London, the world’s oldest and most visible insurer, finally released its projected loss figures from the disastrous events of Sept. 11. According to the calculations from over 100 syndicates, net...
Will Reinsurance Rebound from Terrorist Strikes in the U.S.’
Oct 8 2001 // If the nautical term best applied to the reinsurance industry last year at this time would have been “steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve...
New Focus on Business Interruptions Coverage
Oct 8 2001 // The destruction of the twin towers of New York’s World Trade Center and the sealing off of a large portion of lower Manhattan brought hundreds of business activities to a standstill, from the local newsstand to giant...
What About the ‘Next Big Hit”
Oct 8 2001 // Time and distance have a way of muting the painful impact of horrifying events and focusing attention on the practical matters of coping with the aftermath. The Sept. 11 tragedies are no exception. And while we are barely...
Fitch Affirms USAA Insurer Financial Strength Ratings, Assigns Debt Ratings To USAA Capital
Oct 8 2001 // Fitch affirmed the “AAA” insurer financial strength rating of San Antonio-based United Services Automobile Association (USAA), and assigned an “AA+” long-term issuer rating and medium-term note...
Financial, Human Losses Grow from Sept. 11 Tragedies
Oct 8 2001 // The financial and human losses from the events of Sept. 11 continue to haunt insurance companies at home and around world. Insurers have been assessing the impact and are beginning to pay claims with an as yet undetermined...
A Profound Challenge of Many Facets
Oct 8 2001 // The search for a metaphor has proved fruitless. How would you begin to describe the huge challenge facing the insurance industry after an event for which any description is inadequate? All the industry has to do, at once...
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...
