Latest Policyholder Headlines
All the headlines from our Policyholder Topic Page, ordered by recency.
More Troubles in Australia Following HIH Collapse
May 24 2001 // As estimates of its potential losses mount, the collapse of HIH, Australia’s second largest insurer, continues to cause problems for the government, the insurance industry and numerous policy holders. In an effort to...
State Fund Withdraws from Best’s Rating Process
May 13 2001 // “In essence, we’d like to assure all of our policyholders that we are solvent, that we’re still financially strong,” said Jim Zelinski, spokesperson for California State Compensation Insurance Fund,...
Prudential Demutualization Plan Moves Forward
May 1 2001 // New Jersey’s Department of Banking and Insurance notified Prudential Insurance Company of America that the company’s application for demutualization has been completed. By finalizing the arrangement, the...
Mutual Holding Company: A Shell Game Without the Pea
Apr 30 2001 // I visited Liberty Mutual’s website recently and read information about the company’s plans to form a mutual holding company. It sounds like a great deal for policyholders: a more efficiently organized,...
Mutual Holding Company: A Shell Game
Apr 23 2001 // I visited Liberty Mutual’s website recently and read information about the company’s plans to form a mutual holding company. It sounds like a great deal for policyholders: a more efficiently organized,flexible,...
Wash. Commissioner Announces New Steps in Holocaust Insurance Campaign
Apr 19 2001 // Washington State Insurance Commissioner Mike Kreidler expressed disappointment with a number of companies that failed to release the names of Holocaust-era policyholders. Kreidler urged Washington-licensed insurance...
Australian Insurer HIH Seeks Bankruptcy Protection as Losses Mount
Apr 9 2001 // HIH Insurance Ltd., following in the footsteps of ReAC and GIO, became the latest Australian insurance company to be forced to the wall by mounting losses. Rumored to be in deep trouble for the last six months, the...
First Nevada’s Hopes End in Liquidation
Apr 9 2001 // Reno-based First Nevada Insurance Co. sold its first insurance policy in December 1995. The company sold its last policy a little more than five years later. Last month, Nevada 2nd Judicial District Court Judge Janet...
Transit Casualty Co.’s “Titanic” Insolvency Teaches Many Lessons
Mar 5 2001 // It’s been called “the Titanic of all insolvencies”—on Dec. 3, 1985, Transit Casualty Company, domiciled in Missouri, was declared insolvent by the Cole County Circuit Court. During the late ’80s,...
Policyholders Push for MassMutual Demutualization
Feb 21 2001 // Some Massachusetts Mutual Life Insurance Co. policyholders want to force the Springfield firm to follow in John Hancock’s footsteps and go public the Boston Herald reported today. “We just think it’s time...
‘Titanic’ of Insolvencies Teaches Lessons
Feb 12 2001 // It’s been called “the Titanic of all insolvencies”—on Dec. 3, 1985, Transit Casualty Company, domiciled in Missouri, was declared insolvent by the Cole County Circuit Court. During the late ’80s,...
Liability Insurers and Rights of Reimbursement
Jan 22 2001 // Liability insurers face three especially difficult litigation problems. One of them arises when an insurance contract provides that an insurer has a duty to defend, and it is not clear from the plaintiff’s petition...
California Workers’ Comp: A Market on the Brink
Jan 15 2001 // Although they just squeaked past the January 1 crunch time, both carriers and buyers of workers’ compensation are having anything but a Happy New Year. Combined with the slipping economy, the crisis in the...
Who Owns A Customer’
Jan 8 2001 // The American economic scene is characterized by at least three general trends. There may be more. First, many large businesses are cutting back. Almost every day one reads in the paper that some huge, well-known...
Welcome to our First Ever
Jan 8 2001 // The demarcation between years always seems to take on a contemplative aspect. We look back to where we’ve been, and then look forward to weigh our expectations. Will the market continue to harden? Will the dot-coms...
Northridge Earthquake Class Action Suit Filed Against 21st Century
Jan 4 2001 // A class action lawsuit was filed Tuesday against 21st Century Insurance Co. on behalf of policyholders who filed timely property damage claims stemming from the 1994 Northridge earthquake but whose claims were mishandled,...
AXA Defends Orphan Assets Payout Plan
Dec 19 2000 // France’s AXA Group defended its decision in a London court on Monday to payout only a portion of its subsidiary Sun Life & Provincial Holdings’ “orphan assets” to policy holders. AXA’s...
Maryland Judge Rules on GAMHC Assets
Dec 11 2000 // Cole County Circuit Judge Thomas J. Brown issued an order setting rules on how to distribute $1.2 billion in proceeds from the sale of General American Mutual Holding Co.’s (GAMHC) assets to MetLife. As a mutual...
New Jersey Insurer Issues Dividends to Auto Policy Holders
Dec 7 2000 // New Jersey Manufacturers Insurance is mailing special dividend checks to auto policy holders in New Jersey, Pennsylvania and New York totaling about $54.6 million. The 324,984 policy holders affected will receive an...
State Compensation Insurance Fund Rewards Policyholders with Projected $82-Million Dividend
Oct 19 2000 // Despite the generally poor workers’ comp marketplace conditions throughout California, San Francisco-based State Compensation Insurance Fund announced projected dividends totaling $82 million for policyholders...
