Latest Claims Headlines
All the headlines from our Claims Topic Page, ordered by recency.
Crane Co. Settles Asbestos Claims with Lloyd’s Reinsurer Equitas for $33 Million
Jul 25 2005 // Crane Co., a Stamford, Conn. manufacturer of engineered industrial products, has agreed to settle its insurance coverage claims for asbestos and other liabilities against underwriters at Lloyd’s of London reinsured...
Australian Insurers Adopt New Practice Code, Raising Consumer Expectations
Jul 25 2005 // A recently-launched new Code of Practice for the Australian insurance industry will mean general insurers will meet higher, measurable performance standards for dealing with customers, including settling claims in specific...
U.S. Firms Prevail as Court Denies British Insurer’s Scheme to Curtail Liabilities Yet Remain Solvent
Jul 22 2005 // London insurance companies facing asbestos, pollution and other long-tail liabilities to U.S. policyholders that resort to so-called “solvent schemes” to cut off claims and avoid liquidation have been dealt a...
A Consumer View on Loss-History Databases
Jul 18 2005 // Thanks to the leadership of Commissioner Jim Poolman, North Dakota insurance consumers now have common-sense protections against unfair underwriting and rating actions by insurers because of information in loss history...
Gregg has held a number of executive positions within Liberty Mutual’s commercial insurance operations since joining the
Jul 18 2005 // OneBeacon Insurance Group, a wholly owned subsidiary of White Mountains Insurance Group Ltd., announced that Mike Miller, its current chief operating officer, has been appointed president and chief executive officer....
News Briefs
Jul 18 2005 // Arkansas P/C Claims Reports Hearing Scheduled The Arkansas Insurance Department will hold a public hearing July 27 to determine whether Insurance Commissioner Julie Benafield Bowman should revise and re-adopt Rule and...
An Insurer’s Right to Reimbursement: Frank’s Casing
Jul 18 2005 // Insurers have long sought the right of reimbursement in Texas and, in the right circumstances, the court’s opinion will provide a valuable tool. The most significant Texas insurance case this year is the Texas...
A Consumer View on Loss-History Databases
Jul 18 2005 // Thanks to the leadership of Commissioner Jim Poolman, North Dakota insurance consumers now have common-sense protections against unfair underwriting and rating actions by insurers because of information in loss history...
Study Maintains Malpractice Rates, Not Payouts, Rising
Jul 18 2005 // Medical malpractice insurance rates rose dramatically during the past five years, but the amount insurers paid out in claims did not, according to a study from a consumer advocacy group. The study, by the Center for...
The Industry Goes to School: Universities That Offer Insurance Degrees
Jul 18 2005 // Twenty years ago, it was nearly impossible to find colleges and universities offering degrees in insurance. Now there are many programs across the nation that offer bachelor’s degrees, concentrations, certifications...
An Insurer’s Right to Reimbursement: Frank’s Casing
Jul 18 2005 // The most significant Texas insurance case this year is the Texas Supreme Court’s recent opinion in Excess Underwriters at Lloyds, et al v. Frank’s Casing Crew & Rental Tools, Inc., No. 02-0730 (Tex., May...
P/C CLAIMS REPORTS HEARING SCHEDULED
Jul 18 2005 // The Arkansas Insurance Depart-ment will hold a public hearing July 27 to determine whether Insurance Commissioner Julie Benafield Bowman should revise and re-adopt Rule and Regulation 61, “Insurer Reports of Arkansas...
Study Maintains Malpractice Rates, Not Payouts, Rising
Jul 18 2005 // Medical malpractice insurance rates rose dramatically during the past five years, but the amount insurers paid out in claims did not, according to a study from a consumer advocacy group. The study, by the Center for...
American Hobbyist’s Online Rating
Jul 18 2005 // American Hobbyist Insurance, a national provider of collector-vehicle insurance, added real-time online quoting and submission capabilities to its newly redesigned Web site. AmericanHobbyist.com now provides online quoting...
Hurricane Dennis’s Bark Was Worse Than Its Bite; Carriers, Associations Evaluating Damages
Jul 12 2005 // As Hurricane Dennis approached Key West, Fla., large insurance carriers, expecting and preparing for the worst, alerted hundreds of adjusters to proceed to Florida and Alabama, and put hundreds of other employees on...
Fla. CAT Fund Has $3B Available for Hurricane Claims
Jul 12 2005 // Almost $3 billion is available to pay for claims from Hurricane Dennis and any other storms that may hit the state according to Mike McCauley, a spokesman for the Florida Hurricane Catastrophe Fund. Risk assessment groups...
IRC Study Reports Auto Injury Medical Treatment Varies from State to State
Jul 11 2005 // Auto injury claimants from four states seek different types of medical treatment, even though they report similar injuries. A new study of insurance claims by the Insurance Research Council (IRC) examined auto injury...
Citizens Activates Hotline, Dispatches Response Unit; Only a Few FAIA Agents Report Damage
Jul 11 2005 // Citizens Property Insurance Corp. reports it has set up its “storm claims hotline,” and has dispatched a claims response unit to Milton, Fla.; while the Florida Independent Insurance Agents reports most of its...
XL Expects Negative Q2 Results Following Reserve Strengthening
Jul 8 2005 // Bermuda’s XL Capital Ltd. has announced today that its second quarter 2005 results will be adversely impacted by an increase in net reserves in its North American reinsurance operations of $191 million...
Munich Re’s Review of American Re Claims-No Rating Effect Says S&P
Jul 5 2005 // Standard & Poor’s Ratings Services has indicated that the recent announcement by Germany’s Munich Reinsurance Co. (rated “A+”/Stable) that it is currently undergoing an in-depth reserve review...
