Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
‘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...
