Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
U.S. Insurers’ Exposure to Fannie Mae/Freddie Mac Deemed Manageable
Sep 1 2008 // The U.S. insurance industry’s exposure to securities issued by Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs), is substantial for a handful of companies. Nevertheless, A.M. Best Co. does not...
Surplus Lines Results Remain Strong, Despite Heightened Competition
Sep 1 2008 // Brokerage M&As Expected to Continue for the Near Term; Time’s Almost Up for Congress to Pass Reform Bill Surplus lines insurers continued to outperform the property/casualty industry in underwriting and...
Feds Charge 11 in Biggest-Ever Identity Theft Case
Sep 1 2008 // Authorities in Boston have cracked what is believed to be the largest federal hacking and identity theft case ever, involving the theft and sale of more than 41 million credit and debit card numbers. Eleven people,...
Killer Storm Gustav Gains Strength; Could Threaten U.S. Gulf Coast
Aug 28 2008 // After causing more than 20 deaths in Haiti, Tropical Storm Gustav is now heading for Cuba, Jamaica and the Cayman Islands. The latest update from Miami’s National Hurricane Center indicates that Gustav is gaining...
Oil Industry Battens Down As Gustav Threatens Gulf
Aug 28 2008 // Oil companies ramped up preparations to evacuate some facilities as Hurricane Gustav made its way toward the U.S. Gulf of Mexico, becoming a potential threat to the region’s extensive oil and natural gas...
Forecasters Warn Gustav Could be Major Hurricane When It Reaches Gulf States Monday
Aug 28 2008 // Tropical Storm Gustav shifted course slightly on Thursday morning and moved toward the Jamaica, and forecasters predicted it would be a powerful hurricane by the time it reaches the Gulf of Mexico. “The re-formation...
California Drop Lowers U.S. Workers’ Compensation Payments
Aug 26 2008 // U.S. workers’ compensation payments for medical care and cash benefits for workers disabled by workplace injuries or diseases declined in 2006, according to a study released by the National Academy of Social...
Several Insurers Could See Big Fannie, Freddie Losses
Aug 25 2008 // A handful of insurers holding equity in U.S. home-funding giants Fannie Mae and Freddie Mac could see big losses if a federal takeover wipes out the value of the agencies’ common and preferred stock, as some...
Aon to Acquire Broker Benfield for $1.75 Billion
Aug 22 2008 // Chicago-based Aon Corporation and UK-based broker Benfield Group Limited announced that their respective boards of directors have reached agreement for Aon to acquire Benfield for £3.50 ($6.55) per share in cash and...
QBE’s First Half Results Show Gains
Aug 22 2008 // Australia’s QBE Insurance Group’s financial report for the six months ended June 30, 2008 showed increases in most areas, compared to 2007. QBE cited the following figures: — Insurance profit was up 6...
Study Finds Economic Costs of Federal Cat Legislation Burdensome
Aug 22 2008 // Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar burden on taxpayers in at least 20 states, according to a new study released...
Berkshire’s Buffett Sees Economy in Recession, Weak Until 2009
Aug 22 2008 // Warren Buffett said the U.S. economy is still in a recession and unlikely to improve before 2009 but that stocks appear better valued than a year ago. The billionaire investor also said there is a “reasonable...
International Chamber of Commerce is Pessimistic on Global Economy
Aug 21 2008 // The International Chamber of Commerce (ICC) reported from its Paris office that its “ICC/Ifo global climate index in July fell for the fourth consecutive quarter in a row since sentiment became downbeat last summer,...
By Lilla Zuill
Aug 21 2008 // The exchange would allow underwriters to form syndicates to reinsure and insure unusual or very large exposures. N.Y.’s Dinallo Sees Insurance Exchange Open by 2009 New York Insurance Superintendent Eric Dinallo said...
Business Moves
Aug 21 2008 // Allied World, Darwin Bermuda-based Allied World Assurance Co., Ltd. has agreed to acquire Connecticut-based Darwin Professional Underwriters, Inc. Darwin offers specialty and primary professional lines coverages, which...
People
Aug 21 2008 // Ruby Chan has joined the Needham, Mass.-based Provider Insurance Co. as director of Internet marketing. Chan has worked for Hewlett Packard and was one of the founding members of the Alta Vista search engine. She moved on...
State Ranking In Number of Events
Aug 21 2008 // F5 Tornado damage in Parkersburg, Iowa, May 25, 2008. Tornado damage, Windsor, Colo. Prior to 1990, the average number of tornadoes per year in the Continental US was 772. In the period from 1990 through 2007, the average...
People
Aug 21 2008 // The Chubb Corp. has made four executives appointments: John J. Degnan has been named vice chairman and chief operating officer. Degnan, a former attorney general of New Jersey who joined Chubb nearly 18 years ago, was...
Business Moves
Aug 21 2008 // Allied World, Darwin Professional Bermuda-based Allied World Assurance Co., Ltd. has agreed to acquire Connecticut-based Darwin Professional Underwriters, Inc. Darwin offers specialty and primary professional lines...
New York to Revive Lloyd’s-like Exchange
Aug 21 2008 // New York Insurance Superintendent Eric Dinallo said a revival of the defunct New York Insurance Exchange could happen as early as next year. Dinallo said the next 18 months was a “realistic horizon” to revive...
