Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Morrello Joins Beazley’s U.S. Mid-Market Commercial Property Team
Sep 7 2006 // Joseph Morrello has been hired as Beazley Group plc’s U.S. Eastern region underwriting manager, mid-market commercial property, covering the east coast from Maine to Florida. Beazley has been underwriting U.S....
Beazley Launches Lloyd’s Facility for U.S. Commercial Property Cat Risks
Sep 6 2006 // The London-based Beazley Group plc, a leading Lloyd’s insurer, has created a facility in the Lloyd’s market for catastrophe – exposed U.S. commercial property risks. Beazley said its “Quincat...
Fitch: P/C Insurers’ Performance Exceeding Estimates for ’06
Sep 6 2006 // The U.S. property/casualty insurance industry showed continued favorable and improved operating performance in the first half of 2006 and, based on first-half results and barring any unusual events going forward, the...
People and Places
Sep 4 2006 // Ogilvy-Hill Insurance elected Mark Shipp president and CEO. Shipp has been with Ogilvy Hill for 11 years. In addition to his new role as president/CEO he will continue to build new relationships in the field. Also, Phillip...
Warren is a 20-year insurance industry veteran. She originally joined Beecher Carlson in March 2005 as senior vice presi
Sep 4 2006 // People American International Group, Inc. named Nicholas J. Ashooh as senior vice president of communications. Ashooh succeeds John T. Wooster, Jr. who had filled that role on a temporary basis since year-end 2005, and...
People
Sep 4 2006 // American International Group Inc. named Nicholas J. Ashooh as senior vice president of communications. Ashooh succeeds John T. Wooster Jr. who had filled that role on a temporary basis since year-end 2005, and earlier had...
Business Moves
Sep 4 2006 // Progressive Drive, Homesite Drive Insurance from Progressive, a writer of auto insurance through independent agents and brokers in the United States, signed a joint marketing agreement with Homesite Insurance Group, a...
Also, Phillip Hill was elected chief financial officer and vice president of operations. Hill has been part of Ogilvy-Hi
Sep 4 2006 // People Ogilvy-Hill Insurance elected Mark Shipp president and CEO. Shipp has been with Ogilvy Hill for 11 years. In addition to his new role as president/CEO he will continue to build new relationships in the field. The...
U.S. traffic deaths on the rise
Sep 4 2006 // Traffic deaths in the United States reached their highest levels since 1990, the government reported. The spike in fatalities was attributed to an increase in motorcycle and pedestrian fatalities. The National Highway...
Northeast leads in businesses buying property terrorism coverage
Sep 4 2006 // Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, a dramatic increase from the 2003 average of 27 percent and up from 50 percent in 2004. A report from...
Lloyd’s Outlines its Reinsurance Activities, Thunderbird Re Sidecar
Aug 31 2006 // In anticipation of the upcoming Reinsurance Rendezvous in Monte Carlo, Lloyd’s has presented an outline of its reinsurance activities and announced the creation of a Cayman Islands-based sidecar, Thunderbird Re, to...
Wellington Launches U.S. Marine Reinsurance Business
Aug 30 2006 // Wellington Underwriting Inc. (WU Inc.), the wholly owned US underwriting agency of U.K.-based Lloyd’s and general insurer Wellington Underwriting plc (Wellington), has launched a new marine reinsurance business for...
U.S. Develops Safety Rules for Unmanned Rocket Launches
Aug 29 2006 // The Columbia space shuttle accident has prompted the government to come up with new safety rules for unmanned rocket launches. The Federal Aviation Administration and the Air Force Space Command were to announce the new...
FM Global Places $300 Million Pacific Northwest Earthquake Cat Bond
Aug 29 2006 // Commercial and industrial property insurer FM Global announced the private placement of a second US$300 million catastrophe bond to protect against the consequences of unusual earthquake activity in the Pacific Northwest...
U.S. Judge to Decide if Levee Break Cases go Forward in La.
Aug 27 2006 // People who want insurance companies to pay for their losses after levee breaks in New Orleans following Hurricane Katrina are waiting for word from a federal judge. U.S. District Judge Stanwood Duval, who is in charge of...
IAG Fiscal ’06 Profit Off 13% to $655 Million
Aug 25 2006 // Insurance Australia Group Limited has released its earnings figures for the fiscal year 2006, which ended June 30. Overall profit for the year was A$862 million (US$655 million) compared to A$928 million (US$705 million)...
6 in 10 Business Now Buying Terror Coverage, Marsh Reports
Aug 25 2006 // Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, a dramatic increase from the 2003 average of 27 percent and up from 50 percent in 2004. Meanwhile, the...
Best Affirms Swiss Re, GEIS, GE Frankona Ratings; Off Review
Aug 24 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa” of Swiss Reinsurance Company and its rated subsidiaries. Best also...
U.S. Traffic Deaths on Rise
Aug 24 2006 // Traffic deaths in the United States reached their highest levels since 1990, the government reported this week. The spike in fatalities was attributed to an increase in motorcycle and pedestrian fatalities. The National...
BB&T to Acquire Two Mellon-Owned Premium Finance Cos.
Aug 24 2006 // BB&T Corporation principal subsidiary Branch Banking and Trust Company has entered into a purchase agreement to buy insurance premium finance company AFCO Credit Corporation and its Canadian affiliate, CAFO Inc., from...
