Latest Policyholder Headlines
All the headlines from our Policyholder Topic Page, ordered by recency.
Katrina trial could be moved from Gulf Coast to Oxford
Nov 5 2006 // State Farm Fire & Casualty Co. has filed a motion in federal court in Gulfport, claiming it will get a fairer trial somewhere other than the Mississippi Gulf Coast. Fifty-two policyholders, along with current and...
Audit confirms $1.1 Billion securedfor Executive Life policyholders
Nov 5 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 5 2006 // The National Insurance Guaranty Fund program, operating in every state, is the “untold story” in the property casualty industry, one insurance trade executive says. “The thing to remember about the...
State Farm Pushes to Move Katrina Trial Away from Miss. Coast
Oct 30 2006 // State Farm Fire & Casualty Co. has filed a motion in federal court in Gulfport, claiming it will get a fairer trial somewhere other than the Mississippi Gulf Coast. Fifty-two policyholders, along with current and...
N.D. Poolman Gives Okay for Blues to Refund Policyholders
Oct 25 2006 // Insurance Commissioner Jim Poolman on Monday gave formal approval for Blue Cross Blue Shield of North Dakota to refund some of its premium surplus to policyholders. The Fargo-based health insurer had more than $220 million...
Mich. appeals court hears oral arguments on use of credit scores
Oct 23 2006 // A hearing with oral arguments on the legality of the use of credit scoring in setting insurance rates took place in Lansing, Mich., this month at the Hall of Justice. The appeals hearing follows the ruling by Judge James...
P/C market takes hold of rapidly developing identity theft solutions
Oct 23 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...
Farmers to Double Coastal Rates in La., Lower Premiums in the North
Oct 20 2006 // Louisiana regulators on Oct. 18 approved rate increases for Farmers Insurance Exchange, ensuring that prices for the company’s homeowner policies across coastal Louisiana will nearly double early next year. The...
State Audit Confirms $1.1 Billion Secured for Executive Life Policyholders
Oct 20 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...
Maryland Orders Allstate Return $17.5M to Auto Insureds
Oct 20 2006 // Maryland Insurance Commissioner R. Steven Orr has ordered Allstate Insurance to return $17.5 million to 20,571 of its auto policyholders in Maryland whom he says were improperly charged. This restitution is in addition to...
R.I.’s Beacon Mutual Apologizes for Favoring Certain Clients
Oct 19 2006 // Rhode Island’s largest workers’ compensation insurer is apologizing to more than 14,000 policyholders eight months after an audit found that Beacon Mutual Insurance Co. gave improper breaks to preferred...
Calif. Distributes $1.25 Billion to Policyholders of Failed Insurers
Oct 18 2006 // California Insurance Commissioner John Garamendi announced that the Department’s Conservation and Liquidation Office will distribute a record $1.25 billion to claimants of failed insurance companies during...
Mich. Appeals Court Hears Oral Arguments on Use of Credit Scores
Oct 11 2006 // A hearing on the legality of the use of credit scoring in setting insurance rates took place this week in Lansing, Mich. at the Hall of Justice. The appeals hearing follows the ruling by Judge James H. Fisher to strike...
Citizens Seeks Rate Reductions Linked to Sinkhole Exclusion
Oct 3 2006 // Citizens Property Insurance Corporation has filed a proposal that could reduce rates up to 43 percent for policyholders in the most sinkhole prone counties who opt out of buying coverage for sinkhole related claims next...
Auto Premium Rating Error Cost U.S. Auto Insurers More Than $16 Billion
Oct 3 2006 // San Francisco-based Quality Planning Corp., the rating integrity solutions company, today released its annual Premium Rating Error report, showing premium rating errors remain a drag on auto insurer profitability. QPC...
Treasury Report on Terrorism Insurance Says Backstop Negatively Affects Private Capacity
Oct 3 2006 // A new federal report has found that the long-term development of the private terrorism insurance market remains at best uncertain due to the unpredictable nature of terrorist attacks. The President’s Working Group on...
State Farm Wants Katrina Trial Moved, Claiming Jury Pool Bias in Miss.
Oct 3 2006 // The jury pool in south Mississippi has been tainted by “media propaganda” about the insurance industry’s handling of claims after Hurricane Katrina, a major insurer argued in a bid to move the trials for...
P/C Insurers’ Profitability Drops in First-Half of 2006
Oct 2 2006 // The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the...
Federal Grand Jury in Miss. Seeks State Farm Transcript
Oct 1 2006 // A federal grand jury in Jackson, Miss., has ordered a transcript from an Oklahoma case in which State Farm Insurance Co. was hit with a $13 million judgment involving a lawsuit by policyholders from a 1999 tornado. Records...
Fla. sinkhole law could mean premium savings for some
Sep 25 2006 // Residential property owners in Florida could potentially save from 4 to 14 percent on the sinkhole portion of their home insurance premium due to changes in coverage enacted earlier this year. However, because the sinkhole...
