Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Oregon Hopes ‘Fleming Fix’ Will Clear the Clutter
Apr 9 2001 // To the nearly endless list of issues over which trial lawyers and insurance companies have waged legal battles, we can now add… Point sizes and capitalization? Fortunately for the insurance industry, Oregon’s...
Australian Insurer HIH Seeks Bankruptcy Protection as Losses Mount
Apr 9 2001 // HIH Insurance Ltd., following in the footsteps of ReAC and GIO, became the latest Australian insurance company to be forced to the wall by mounting losses. Rumored to be in deep trouble for the last six months, the...
Three Big Carriers Join Forces to Launch Web-Based Agency
Apr 9 2001 // American International Group Inc. (AIG), Kemper Insurance Companies and Prudential Insurance Company of America recently announced plans of a joint venture called Fusura, an innovative web-based insurance agency that will...
Insurers Sound Off About Rate & Form Filing
Apr 9 2001 // In the summer of 2000, a survey on rate and form filings procedures implemented by state insurance departments was sent to the National Association of Independent Insurers (NAII) membership. This survey was conducted in...
Four New Insurers to Enter Hawaii’s Workers’ Comp Market
Apr 4 2001 // Wayne Metcalf, the Hawaii Insurance Commissioner, announced in March that the Insurance Division has authorized four new insurers to write workers’ compensation insurance in Hawaii. The authorization for General...
Insurers Pay Millions for Wisconsin Ice Damage
Apr 2 2001 // American Family Insurance has paid $21.5 million in ice dam-related homeowner claims this spring, mostly around Milwaukee and Madison, a company official told the Milwaukee Journal Sentinel. That amount represents 15,500...
Workers’ Comp Reform: Ten Years from Ground Zero
Apr 2 2001 // It’s been 10 years since legislation revamp the Texas workers’ comp system. Most insurers, regulators and legislators agree that the system has improved dramatically, but they also say there is still room for...
Combined Ratio for 2001 on Track to Hit Record High, ISO President Says
Apr 2 2001 // Amid signs that the property/casualty insurance market is improving, insurers’ prospects for greater profitability may actually be diminishing in today’s rapidly slowing economy, an industry leader warned. At...
Cracking Down on the Industry’s Fraud Problem
Apr 2 2001 // Fraud investigators in June busted a Tampa fraud ring that crashed cars at a private site, scooped up the debris and moved the wreckage to a public roadway. The members then called police so that they could file fraudulent...
Insurance Mergers, Acquisitions Stalled in 2000
Mar 28 2001 // Convergence among U.S. banks and insurers were not significant according to a recent study by Conning & Co. titled “Mergers and Acquisitions and Public Equity Offerings: 2001 Edition.” According to the...
Foot-and-Mouth Crisis Unlikely to Impact Insurers
Mar 28 2001 // Most analysts have concluded that no serious insured losses will be caused by the current foot-and-mouth epidemic in Britain and Europe, despite the enormous economic losses. In the U.K., where the disease first appeared,...
Cracking Down on the Industry’s Fraud Problem
Mar 26 2001 // Fraud investigators in June busted a Tampa fraud ring that crashed cars at a private site, scooped up the debris and moved the wreckage to a public roadway. The members then called police so that they could file fraudulent...
Struggle Continues Over Payment of Holocause Claims
Mar 26 2001 // The Western world is haunted by the specter of the German government killing millions upon millions of Jews (and others) in concentration camps. I couldn’t sleep when I first saw the pictures in the 1950s. My...
Combined Ratio for 2001 on Track to Hit Record High, ISO President Says
Mar 26 2001 // Amid signs that the property/casualty insurance market is improving, insurers’ prospects for greater profitability may actually be diminishing in today’s rapidly slowing economy, an industry leader warned. At...
WORKERS’ COMP IN CALIFORNIA: A Barren Landscape
Mar 26 2001 // Three months into the new year, the picture for the California workers’ comp market is not pretty, and it’s likely to get worse. Developments in recent weeks-including lowered ratings, carrier losses, declining...
Rig Loss Scares Off Petrobas’ Insurers
Mar 26 2001 // The explosion and fire which ripped through the world’s largest oil rig, killing 10 workers, and eventually causing the structure to sink in 3000 feet of water off the coast of Brazil, could not have occurred at a...
Pru/Am Gen Merger Tops Insurance Deals
Mar 26 2001 // Last January, Prudential plc Chief Executive Jonathan Bloomer indicated he was still looking for opportunities in the U.S. The search culminated March 12 in Houston, Texas, with the announcement that Britain’s...
WORKERS’ COMP WOES
Mar 19 2001 // The nation’s workers’ compensation insurers suffered an 86 percent decline in profits, to $144 million during the first nine months of 2000 from a $1 billion peak during the same period in 1998, according to...
Combined Ratio for 2001 On Track to Hit Record High, ISO President Says
Mar 19 2001 // Amid signs that the property/casualty insurance market is improving, insurers’ prospects for greater profitability may actually be diminishing in today’s rapidly slowing economy, an industry leader warned. At...
UM/UIM Developments
Mar 19 2001 // Insurance covers accidents. In the legal world, we call these “fortuities”, but it all boils down to accidental happenings. First-party insurance, for example property insurance, covers financial losses...
