Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Jury Sends Message to Insurance Industry in Toxic Mold Case
Jun 18 2001 // Travis County District Court jury to the insurance industry: take care of toxic mold claims adequately and promptly or risk being assessed millions of dollars. That warning came in the form of a $32-million award to a...
Ponzied Insurance Premiums
Jun 18 2001 // This is the tale of what the Court of Appeals of Maryland—the state’s highest court—called a modified insurance “Ponzi scheme.” The case, decided earlier this year, is Insurance Company of North...
Nevada Legislature Wraps Up 2001 Session on Positive Note
Jun 12 2001 // The Nevada State Legislature adjourned last week following several important victories for the insurance industry, according to lobbying groups. Passage of measures benefiting insurers and the defeat of several trial...
Insurers Play to Win When Writing Coverage for Sports Venues
Jun 11 2001 // Up and down the West Coast, stadiums and sports arenas welcome in fans every day. Whether it is for a football game or a pop concert, the venue is open to a number of exposures that must be covered before the public sets...
Coverages for Contractors: Only the Strong Survive as a Tough Market Gets Tougher
Jun 11 2001 // What’s the biggest problem area in the California insurance market these days?” When asked that question, most in the know would probably, without any hesitation, reply, “Workers’ comp.” But...
RELIANCE SENT TO REHAB
Jun 11 2001 // Financially troubled Reliance Insurance Company was placed into rehabilitation on May 31 at the request of the Pennsylvania Insurance Department. A Penn.-domiciled company, Reliance is licensed to write coverage in all 50...
After Deal with iwix.net Goes Sour, ebix.com Turns to Esurance
Jun 11 2001 // On May 29, Atlanta-based ebix.com struck a deal with Esurance Inc., a national quote-to-claims Internet-based provider of personal auto insurance. Under the terms of the deal, Esurance will offer instant online auto...
Trade Groups Call for Cost Control, Greater Efficiency in State Financial Examinations
Jun 7 2001 // State insurance regulators need to address cost control issues and standardize their methods of statutory financial examinations for monitoring insurer solvency, according to a new white paper issued by the major...
Auto Insurance Companies to Face Multi-Million-Dollar Lawsuit
Jun 7 2001 // A multi-million-dollar class-action lawsuit has been authorized by the board of directors of the National Auto Agents Alliance (NAAA) Board against several insurers. The lawsuit questions the legality of insurers reducing...
Nationwide Insurance Joins California Community Investment Consortium
Jun 7 2001 // Impact Community Capital announced that Nationwide Mutual Insurance of Columbus, Ohio, has joined its growing membership of California insurers committed to voluntary community investments. Nationwide officials said the...
Garibaldi to Head Zephyr Insurance Company
Jun 6 2001 // Effective July 1, 2001, John L. Garibaldi will assume the position of president and CEO of Zephyr Insurance Company, which provides hurricane property insurance coverage to Hawaii residents and homeowners...
NAII Calls Defeat of Privacy Bill Victory for Calif. Consumers
Jun 5 2001 // Financial privacy legislation that would have limited services to policyholders and increased costs for insurers failed to reach a majority vote Wednesday in California’s Assembly Banking & Finance Committee. At...
State Fund To Become Texas Mutual Insurance Company
Jun 4 2001 // The Texas Workers’ Compensation Insurance Fund will become the Texas Mutual Insurance Company Sept. 1 if Gov. Rick Perry signs the bill authorizing the change. The governor has 20 days from the Legislature’s...
NAMIC Endorses Increase of Small Company Tax Exemption
Jun 4 2001 // The country’s smallest, mostly rural, insurance companies would receive a tax benefit if federal legislation introduced recently becomes law. Reps. Jim Nussle, R-Iowa; Jim Ramstad, R-Minn.; and Earl Pomeroy, D-N.D.;...
Article 21.55: Reason Prevails
Jun 4 2001 // For a generation, or so, courts around the country have thought that contract law was insufficient to regulate the claims conduct of insurance companies. Consequently, the common law of insurer bad faith has been created....
Texas Commissioner Warns HMOs, Insurers About Slow Payments
Jun 4 2001 // Texas Department of Insurance Commissioner José Montemayor issued a bulletin on May 21 warning HMOs and health insurance companies that they risk disciplinary actions if they violate state laws concerning prompt payment...
Bill on Insurer Use of Credit Passes Illinois Legislature
Jun 1 2001 // A bill that clarifies insurers’ use of consumer credit reports in underwriting has passed the Illinois General Assembly and is expected to be signed by the Governor. The American Insurance Association (AIA) worked...
Court Grants Penn. Department’s Petition to Place Reliance Ins. Co. in Rehabilitation
May 31 2001 // Pennsylvania Insurance Commissioner M. Diane Koken announced that the Commonwealth Court of Pennsylvania had granted the Insurance Department’s request to place financially troubled Reliance Insurance Company into...
Symons International Group to Sell Crop Insurance Assets to Acceptance Insurance Cos.
May 30 2001 // Symons International Group, Inc., a nonstandard automobile insurer, and Acceptance Insurance Companies Inc. signed a definitive agreement for American Agrisurance® and other Acceptance affiliates to purchase the crop...
NAMIC Endorses Increase of Small Company Tax Exemption
May 29 2001 // According to National Association of Mutual Insurance Companies (NAMIC), the country’s smallest, mostly rural, insurance companies would receive a tax benefit if legislation introduced recently in the House of...
