Latest Policyholder Headlines
All the headlines from our Policyholder Topic Page, ordered by recency.
The Hartford Develops Online Premium Audit Tool
Aug 18 2005 // The Hartford Financial Services Group Inc. has introduced an online Premium Audit Reporting tool to simplify the process of submitting information to reconcile insurance premiums. Most commercial insurance premiums are...
Michigan Consumers Eligible for Payment from Aon
Aug 18 2005 // The Office of Financial and Insurance Services (OFIS) announced that Michigan consumers will receive compensation as part of a negotiated settlement with insurance brokerage Aon Corporation. Nearly 8,000 Michigan citizens...
Only One Policyholder Turned Out For Allstate Floridian Public Hearing
Aug 11 2005 // The Florida Office of Insurance Regulation reserved a high school auditorium for five hours so that homeowners could voice their opinion on Allstate Floridian Insurance Company’s request to increase rates by 30...
COURT DENIES SCHEME TO CURTAIL LIABILITIES:
Aug 8 2005 // London insurance companies 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 serious blow. An English High Court...
Business Interruption: When Has the Insurer Satisfied Its Obligation?
Aug 8 2005 // One of the most problematic insurance questions that developed following the destruction of the World Trade Center on Sept. 11, 2001, involved business interruption coverage. With the destruction of the World Trade Center...
News Briefs
Aug 8 2005 // National Poll Reveals Americans’ Views on Aging: A poll by the MetLife Mature Market Institute conducted by Zogby International shows that 60 percent of Americans believe “old” is age 71 and over, but...
Pa. Supreme Court Holds Building Collapse Coverage Ambiguous
Jul 26 2005 // The Pennsylvania Supreme Court has held that property insurance coverage for the “collapse” of a building is ambiguous and should be construed in favor of policyholders. The court granted coverage in instances...
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...
Pa. Court Upholds Legion Insureds’ Direct Access to Reinsurers’ Funds
Jul 24 2005 // Without hearing arguments, the Pennsylvania Supreme Court has upheld a lower court ruling that permits four corporations to bypass the state regulator’s liquidation procedures involving failed carrier Legion...
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...
Jury Awards $700M in Damages in Executive Life Suit
Jul 21 2005 // Insurance Commissioner John Garamendi issued the following statement today in regard to the jury’s award of $700 million in punitive damages against Artemis S.A. for its participation in a conspiracy to defraud the...
N.J. Approves National Atlantic’s Auto Insurance Loyalty Discount
Jul 20 2005 // Proformance Insurance Company, the largest subsidiary of National Atlantic Holdings Corporation and a domestic New Jersey insurer, today announced that its Loyalty Loss Free Discount Program for its auto insurance...
Utah’s Workers Comp Fund Announces $20M Dividend
Jul 19 2005 // Utah’s Workers Compensation Fund has declared a $20 million dividend that will be distributed to a majority of policyholders this August. Policyholders can expect to receive 9.25 percent of their earned premium...
LWCC RETURNS $15.8M IN DIVIDENDS
Jul 18 2005 // The Louisiana Workers’ Compensation Corporation for second year in a row declared a dividend and will return $15.8 million to qualifying policyholders this year. The company believes it to be the largest single...
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...
Willis: Gains for D&O Policyholders Figure to Continue
Jul 14 2005 // The last three months have witnessed a period of stability and consolidation in overall capacity of the directors and officers market. Premium rates, however, continue to reduce and brokers continue to drive improved...
Fitch Reports Hurricane Dennis Could Have Implications for Fla. Market
Jul 12 2005 // Chicago-based Fitch Ratings states that Hurricane Dennis is expected to represent a material loss to the insurance industry. Dennis came ashore on Sunday, July 10, at 3:25 p.m., on Santa Rosa Island, Fla., as a Category 3...
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...
There’s a Lot of Fraud Out There!
Jul 4 2005 // Insurance fraud investigators at the 13th Annual Florida Insurance Fraud Education Committee Conference in Orlando pointed out that multiple insurance deductibles and higher deductibles can motivate insurance fraud’s...
ACIC OPPOSES SMALL CLAIMS COURT LEGISLATION:
Jul 4 2005 // The Association of California Insurance Companies is opposing Small Claims Court legislation that would hurt consumers by reducing the ability of insurers to represent their policyholders in court. Jeff Fuller,...
