Insurance

Longtime L.A. insurer facing pressures; Farmers Insurance

October 21, 2002  ·  Consumer Watchdog

<p class="source">Los Angeles Business Journal</p> <p>The company has seen its ratings downgraded in the face of continuing underwriting losses. It has pulled out of the huge Texas homeowners' market, where it's being sued by the state and mold claims are sky high. And it's had to fend off rumors that its</p>

Winds of change;

October 20, 2002  ·  Consumer Watchdog

<h3>Despite high premiums, Texas home insurers continue to lose money as changes in state regulations are urged</h3><p class="source">Fort Worth Star Telegram</p> <p>Industry leaders, regulators, politicians and consumer groups all agree that changes in the state's insurance regulation system are virtually certain when the Texas Legislature meets next year.</p>

Critical Decision in Insurance Department;

October 19, 2002  ·  Consumer Watchdog

<h3>New Commissioner Inherits Agency in Need of Leader</h3><p class="source">The San Jose Mercury News</p> <p>The six candidates who want to run the state's insurance department face a daunting task: taking over a department that most observers agree is ill-prepared to confront the issues it must face. Among the issues: rising insurance premiums, skyrocketing wo</p>

Candidates accept insurance donations

October 17, 2002  ·  Consumer Watchdog

<p class="source">Monterey County Herald</p> <p>Influenced by Insurance Commissioner Chuck Quackenbush's resignation in disgrace two years ago, Democrat John Garamendi and Republican Gary Mendoza said they would not take industry money. Despite their pledge, Garamendi and Mendoza each accepted $50,000</p>

Healthnet to Offer New Rates

October 16, 2002  ·  Consumer Watchdog

<p class="source">The Daily News of Los Angeles</p> <p>Jamie Court, executive director of The Foundation for Taxpayer & Consumer Rights, said HealthNet is creating more products to ease the burden of a downtrodden economy. "HMOs right now are robbing the insurance system of capital," he said.</p>

Commissioner candidates take insurance money, despite pledges

October 16, 2002  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>While the leading candidates for insurance commissioner say they don't accept industry campaign contributions, campaign finance and public records show each has taken more than $50,000 from investors for insurance companies.</p>

Risky Business

October 15, 2002  ·  Consumer Watchdog

<h3>Insurers' Increasingly Risky Investments in Corporate America Cause Insurance Premiums to Skyrocket</h3> <p>Large liability insurance companies are demanding rate increases to offset massive investment losses, according to a new analysis of major insurance companies by the nonprofit Foundation for Taxpayer and Consumer Rights.</p>

Stock Losses Boost Premiums, Study Says;

October 15, 2002  ·  Consumer Watchdog

<h3>Insurers raise rates to cover shrinking returns, consumer group says. Firms blame large claims.</h3><p class="source">The Los Angeles Times</p> <p>Far more than they publicly admit, home and auto insurers are raising rates to cover their losses on risky corporate securities, according to a controversial study to be released today by a Santa Monica consumer watchdog group.</p>

Stock market losses contribute to higher insurance rates

October 14, 2002  ·  Consumer Watchdog

<p class="source">Associated Press</p> <p>The crumbling stock market is hitting people's pocketbooks in a lot of different places, including an increasingly touchy area - insurance prices.</p>

So much for Wall Street cleaning up its act

October 13, 2002  ·  Consumer Watchdog

<p class="source">The San Francisco Chronicle</p> <p>"Sen. Phil Gramm excused Enron for punishing California and mocked state officials, but the CPUC has agreed to pay his company millions to tell us how to solve the problems Enron and lawmakers like Gramm created," said consumer crusader Doug Heller</p>

So much for Wall Street cleaning up its act

October 13, 2002  ·  Consumer Watchdog

<p class="source">The San Francisco Chronicle</p> <p>"Sen. Phil Gramm excused Enron for punishing California and mocked state officials, but the CPUC has agreed to pay his company millions to tell us how to solve the problems Enron and lawmakers like Gramm created," said consumer crusader Doug Heller</p>

Disability Insurer Is Under Fire;

October 6, 2002  ·  Consumer Watchdog

<h3>Legitimate claims denied, suits say</h3><p class="source">The San Francisco Chronicle</p> <p>The nation's largest disability insurance company has been accused of systematically denying legitimate claims from seriously ill customers, a corporate strategy allegedly concocted for one purpose: boosting profits.</p>