Latest Policyholder Headlines
All the headlines from our Policyholder Topic Page, ordered by recency.
Calif. Announces $295 Million in Additional Distributions to Executive Life Policyholders
Jan 5 2007 // California Insurance Commissioner John Garamendi has announced that the Department of Insurance has won a dispute over the distribution of proceeds obtained through litigation on behalf of policyholders of the failed...
Absence of Hurricane Losses Proves Beneficial to Insurers’ Bottomline
Dec 27 2006 // Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty industry posted a $24.4 billion net gain on underwriting through nine months. The net gain on...
In buying back, what did I buy?
Dec 25 2006 // A look at policy buyback settlements Over the last decade, I have participated in the drafting of dozens of settlement agreements between carriers and insureds commonly called “buybacks of insurance” or simply...
Insurers Remind Holiday Shoppers about Dangers of Identity Theft
Dec 21 2006 // Des Moines, Iowa-based Hawkeye-Security Insurance and Indiana Insurance, both members of the Liberty Mutual Group, are urging holiday shoppers to raise their awareness of identity theft, the fastest growing crime in...
La. Rating Commission Rejects Key Rule Change for Allstate
Dec 18 2006 // A panel of state insurance regulators on Dec. 15 rejected a proposed rule change that Allstate Insurance Co. cites as critical to deciding the company’s long-term future in Louisiana after Hurricane Katrina. The...
Policyholder Insurance Information Stolen from Ill. Vendor
Dec 14 2006 // Computer records containing personal information of about 130,000 members of Connecticut-based health insurer Aetna Inc. were stolen from the office of a vendor, the company said. A lockbox stolen during an Oct. 26...
Can the stand-alone market withstand TRIA ending?
Dec 11 2006 // The market of last resort may soon become the only option for thousands of policyholders if the Terrorism Risk Insurance Act (TRIA) sunsets and property/casualty carriers stop offering terrorism coverage. With a recent...
P/C market takes hold of rapidly developing identity theft solutions
Dec 10 2006 // Identity-related fraud is a virulent crime, with 3.5 times the aggregate losses of all property crimes, such as burglary, larceny and vehicle theft, reported last year. In today’s technology/information-driven...
Can the stand-alone market withstand TRIA ending?
Dec 10 2006 // The market of last resort may soon become the only option for thousands of policyholders if the Terrorism Risk Insurance Act (TRIA) sunsets and property/casualty carriers stop offering terrorism coverage. With a recent...
N.D. Policyholders Confused on Vote to Move Farmers Union Mutual
Nov 30 2006 // Some Farmers Union Mutual Insurance policyholders are confused about whether they can vote on moving the state Farmers Union headquarters to Mandan from Jamestown. The insurance company is separate from the farm...
Virginia Mutual Policyholders OK Stock Conversion, Merger with Alfa
Nov 29 2006 // Policyholders of Virginia Mutual Insurance Co. have approved the previously announced plan of conversion with Alfa Corp., the companies reported. Under the agreement, Virginia Mutual will convert from a mutual company to a...
Texas Insurance Complaints Lowest in 7 Years, Trade Group Says
Nov 22 2006 // Information obtained from the Consumer Protection division of the Texas Department of Insurance (TDI) shows the number of consumer complaints with insurance companies is the lowest since 1999, the Insurance Council of...
SPECIAL REPORT: Surplus Lines
Nov 20 2006 // The insurance industry’s excess and surplus lines (E&S) sector has experienced a pronounced reversal of position in the last 20 years. Once considered a mere adjunct, a safety valve for risks that were too hard...
The Locomotive That Drive the Insurance Train
Nov 19 2006 // The insurance industry’s excess and surplus lines (E&S) sector has experienced a pronounced reversal of position in the last 20 years. Once considered a mere adjunct, a safety valve for risks that were too hard...
Gov. Blanco Wants Overhaul for Louisiana’s ‘Last Resort’ Insurer
Nov 16 2006 // Louisiana’s Legislature needs to overhaul the Louisiana Citizens Property Insurance Corp., created by the state as an “insurer of last resort,” because of problems created by last year’s hurricanes,...
Mississippi: Judge May Consider Consolidating 1,000 Lawsuits
Nov 13 2006 // Six lawsuits against insurance companies over damage claims from Hurricane Katrina once set for trial in 2007 have been delayed by U.S. District Judge L.T. Senter Jr. Senter also says he is willing to consider...
Lloyd’s James Tells PCI Threats to Industry Still Exist
Nov 7 2006 // Julian James, Lloyd’s Director Worldwide Markets, told delegates at the PCI Conference in Seattle that, despite the industry’s “current good fortune, I could make a strong case that we are still standing...
Katrina trial could be moved from Gulf Coast to Oxford
Nov 6 2006 // Is fair trial in Gulfport possible given negative press, number of prominent policyholders? State Farm Fire & Casualty Co. has filed a motion in federal court in Gulfport, claiming it will get a fairer trial somewhere...
AUDIT CONFIRMS $1.1 BILLION SECURED FOR EXECUTIVE LIFE POLICYHOLDERS
Nov 6 2006 // California’s State Auditor’s review of the Department of Insurance’s handling of the Executive Life Insurance Co. estate confirms that appropriate actions have been taken on behalf of policyholders who...
The untold story: state guaranty funds
Nov 6 2006 // They’re involved with policyholders every day yet too few people know how these safety valves operate The National Insurance Guaranty Fund program, operating in every state, is the “untold story” in the...
