Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
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...
Levin Monitoring Insurance Carrier Conduct in Home Evacuations
Mar 14 2001 // The New York State Insurance Department is monitoring the conduct of insurance companies involved in home evacuations in Briarwood, New York where the homes were sinking. Five families in Briarwood have been evacuated from...
Workers’ Comp Insurers Suffer 86 Percent Profit Decline Since 1998
Mar 8 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...
British Life Insurer Cuts 2,000 Jobs
Mar 7 2001 // Britannic is to cut more than 40 percent of its workforce, with 2,000 positions coming from the Britannic Assurance arm. The company blamed the cuts on a growth in red tape and the end of the UK’s jobs-for-life...
Homeowner MAP Barely Breathing
Mar 5 2001 // In September of 1994, a busload of insurance industry members, legislators and business folks toured some of inner city Houston to see what Democratic Sen. Rodney Ellis saw in his district. Insurable houses. That’s...
Visions Clear for NAFTA Insurance
Mar 5 2001 // The media reports have died down since the Feb. 6 ruling that the United States was in violation of the North American Free Trade Agreement by disallowing Mexican trucks free access to American roadways. The work has just...
From Pin Maps to the World Wide Web
Mar 5 2001 // Since the 1800s, the insurance industry has used technology to track and control catastrophic exposures. Insurers first used mapping after companies were hit by major fires in cities such as Boston, Chicago and...
P/C Insurers’ Web Efforts Lacking Strategy, Conning Study Says
Mar 5 2001 // A new Conning & Co. study reports that the majority of property/casualty insurers did not have a guiding Internet strategy when developing their websites and only a few insurers use the Internet effectively to...
Paying for Holocaust Insurance Claims
Mar 5 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...
Agent Commission on Insanity is Nuts
Mar 5 2001 // “How’s business?” “Don’t ask.” “What’s wrong?” “You’ve heard of underwriting?” “I’m familiar with the concept.” “Well,...
