Latest Policyholder Headlines
All the headlines from our Policyholder Topic Page, ordered by recency.
TEXAS AG SETTLES WITH INSURERS:
May 3 2004 // Texas Attorney General Greg Abbott reached a final settlement with two auto insurers that will result in estimated refunds of more than $700,000 to Texas policyholders who paid more on their claims for auto repairs than...
GAO Study Finds Unauthorized Health Insurers Piled Up $252M in Unpaid Claims
May 3 2004 // A study conducted by the U.S. General Accounting Office (GAO), released at the end of February, found that unauthorized health insurers are costing workers significant amounts in unpaid benefits. The entities surveyed, who...
Texas AG Settles Refund Agreement with Auto Insurers
Apr 21 2004 // Texas Attorney General Greg Abbott’s final settlement with two auto insurers will result in estimated refunds of more than $700,000 to Texas policyholders who paid more on their claims for auto repairs than their...
N.J. Launches Corporate Governance Policy
Apr 14 2004 // New Jersey Banking and Insurance Commissioner Holly C. Bakke announced a new department initiative that focuses on corporate governance and demands more accountability from insurance industry...
P/C Net Income Propels Surplus
Apr 14 2004 // The property/casualty insurance industry’s net income after taxes rose to $29.9 billion in 2003 — nearly 10 times the industry’s $3 billion in net income in 2002. Benefiting from both the $29.9 billion in net...
N.J. Governor Again Hails Auto Improvements
Apr 7 2004 // New Jersey Governor James E. McGreevey and Commissioner Holly C. Bakke are celebrating what they say are two milestones on the road to a consumer-directed auto insurance marketplace – more than $100 million returned...
Legislators Try to Get a CLUE About Loss Reports
Apr 5 2004 // Among the many topics addressed by the property/casualty insurance committee of the National Conference of Insurance Legislators (NCOIL) at its Feb. 26-29 meeting in San Antonio was the comprehensive loss underwriting...
Safeco Settles Suit, May Face $3 million in Claims
Apr 2 2004 // Safeco auto insurance customers who were injured by uninsured or underinsured motorists or who filed medical claims during the last eight years may be able to collect additional compensation under a court settlement...
Consumer Protections Added for N.J. Drivers
Mar 22 2004 // New Jersey Governor James McGreevey took further steps Monday toward a consumer-directed, competitive auto insurance market, announcing the adoption of additional consumer initiatives as part of his auto insurance reforms...
Auto Club’s Affiliate Files for 5 Percent Rate Reduction
Mar 22 2004 // The Interinsurance Exchange of the Auto Club filed with the state Department of Insurance for an overall 5 percent reduction in its California auto insurance rates. The rate reduction should save Auto Club policyholders an...
It Can’t Be Done: Article 21.55 and the Duty to Defend
Mar 8 2004 // Almost two years ago, I wrote a column for “Legal Beat” entitled It Couldn’t Be Done: The Policyholder’s Idea to Reinvigorate Third Party Bad Faith. The article outlined the attempts by a very...
TENNESSEE COMMISSIONER FILES SUIT ON BEHALF OF RECIPROCALS’ POLICYHOLDERS:
Mar 8 2004 // Tennessee Insurance Commissioner Paula Flowers, acting as liquidator for three failed malpractice insurance firms, recently filed suit in U.S. District Court seeking to recover damages on behalf of the companies’...
N.J. Auto Reforms Continue Drive Forward
Mar 3 2004 // New Jersey Banking and Insurance Commissioner Holly Bakke announced this week that the competitive auto insurance marketplace that is emerging in New Jersey reportedly as a result of Governor McGreevey’s reforms is...
AIG Private Client Group to Provide Complimentary Background Checks for Policyholders’ Household Staff
Mar 2 2004 // AIG Private Client Group, a division of the property and casualty insurance subsidiaries of American International Group Inc. (AIG), announced a loss-prevention initiative that will provide policyholders employing domestic...
ProAssurance Reports Q4 and Year-End 2003 Results
Feb 24 2004 // Alabama-based ProAssurance Corporation reported Net Income of $38.7 million, or $1.33 per diluted share, for 2003, more than triple 2002’s Net Income of $12.2 million. Net Income for the fourth quarter of 2003 was...
Ark. Outlines Expectations for Renewals, Cancellations and Underwriting
Feb 24 2004 // On February 20, 2004, the Arkansas Insurance Department issued the following directive on cancellations, nonrenewals and discriminatory underwriting practices for property and casualty insurance: The Department recognizes...
When is ‘Enough’ Insurance Enough’ A Practical Approach for Brokers
Feb 23 2004 // There is a way to give your client some idea of the potential liability risk that he or she is taking on. A firestorm destroys a subdivision. A neighbor’s child accidentally drowns in an uncovered swimming pool. A...
New Calif. Law Brings Millions to the Unclaimed Property Program
Feb 20 2004 // California State Controller Steve Westly announced the Controller’s Office collected $67 million in unclaimed insurance company stock and cash proceeds belonging to countless Californians. Beginning immediately,...
Mich. Auto Rates Rise Slower Than National Average
Feb 12 2004 // Auto insurance rates for Michigan policyholders rose slower than the national average in 2003, according to the Insurance Institute of Michigan (IIM). Michigan’s auto insurance rates increased an average of 7 percent...
Subrogation Outsourcing Offers Value, Greater Claims Recovery
Feb 9 2004 // How an insurance company handles the subrogation function impacts its value to policyholders and shareholders. While financial stability, underwriting expertise and breadth of coverage remain important, an insurer’s...
