Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
U.S. and Insurers Can Withstand Hurricanes Without Taxpayer Funds, Says Lloyd’s U.S.
Jun 1 2006 // Residents of the Northeast coast “ignore the hurricane threat at their peril,” a leading insurer is warning. At the same time, Wendy Baker, president of Lloyd’s America, says she is confident that the...
Class Action Suit Filed in New Orleans Against 15 Homeowners Insurers
Jun 1 2006 // A class action lawsuit was filed in the United States District Court for the Eastern District of Louisiana on May 24, 2006, on behalf of Greater New Orleans Metropolitan Area homeowners insurance policyholders who have...
Cunningham Lindsey U.S. Adds Schuman to Business Development Team
Jun 1 2006 // Independent insurance claims services company Cunningham Lindsey U.S. (CLUS), based in Dallas, announced the addition of Ronnie Schuman to its Business Development Team. Schuman comes on board with CLUS as assistant vice...
A.M. Best: A ‘Mega-Cat’ Hurricane Would Be Fatal to Some Insurers
Jun 1 2006 // A new Special Report from the A.M. Best Company on the impact of a possible “mega-cat” hurricane — $100 billion or more in insured losses — finds that the financial consequences would be serious and...
Colorado State University Team Predicts Fewer Hurricanes Will Make Landfall
May 31 2006 // The U.S. Atlantic basin is likely to experience another active hurricane season, but coastal regions may face fewer land-falling major hurricanes than last year, according to Prof. William Gray and the Colorado State...
Turkish Authorities Assess Damages from Airport Fire
May 31 2006 // [AP] A huge fire that turned the giant cargo terminal of Istanbul’s main airport into a wreckage of twisted metal and charred walls may have caused tens of millions of dollars (euros) in damage, according to...
Aon Corp. Responds to U.S. Treasury’s Request for Comment on Future of Terrorism Act
May 31 2006 // Chicago-based Aon Corp. has responded to the U.S. Treasury’s request for comment on the state of the U.S. terrorism insurance marketplace, warning of the danger of allowing the Terrorism Risk Insurance Act of 2002...
RMS Releases “Fundamentally New” European Windstorm Model
May 30 2006 // Newark, Calif.-based Risk Management Solutions has launched “a fundamentally new platform for quantifying wind-related risk in 12 European countries,” said the announcement. “Meteorological modeling has...
ACE Names Dowd CEO North American Insurance Operations
May 28 2006 // Brian Dowd, chairman and chief executive officer of ACE USA and chairman of ACE Westchester Specialty, has been appointed to chief executive officer of the company’s Insurance – North American operating...
Quanta Puts Specialty Lines into Runoff; Retains Lloyd’s, ESC Business
May 26 2006 // Bermuda-based Quanta Capital Holdings Ltd. announced that “following the evaluation of strategic alternatives, and in consultation with its financial advisors, the Board has decided to cease underwriting or seeking...
Federal Disaster Aid Available for Flood Victims in Mass., N.H. and Maine
May 26 2006 // The head of the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced that federal disaster aid has been made available in Massachusetts, New Hampshire and Maine to help people...
Nationwide to Sell Gartmore’s Int’l. Operations to Hellman & Friedman
May 26 2006 // Nationwide Mutual Insurance Company and Hellman & Friedman Advisors LLC, a San Francisco-based private equity investment firm, have entered into a definitive agreement for Nationwide’s sale of Gartmore...
Australian Climate Study Finds Stronger Evidence of Global Warming
May 26 2006 // A report compiled by the Australian government’s Department of the Environment and Heritage – Australian Greenhouse Office, concludes: “Evidence that the Earth is warming has become much stronger since...
Marketing Fraud Scheme Results in 560 Arrests; $1B in Losses
May 24 2006 // More than 560 people have been arrested in an international investigation of mass-marketing fraud schemes that have victimized more than 2.8 million people in the United States, the Justice Department said Tuesday. Losses...
AIA’s Snyder Tells London Audience GATS Outlook ‘Very Dark’
May 23 2006 // “It’s very dark right now,” said David F. Snyder, the American Insurance Association’s Vice President and Assistant General Counsel. He wasn’t speaking about the weather. He was referring to...
Understanding buyers is key to writing farmowners policies
May 22 2006 // If you’ve been writing agricultural and farm insurance for years and think you know everything there is to know about the business, don’t bet the farm. Farm exposures have changed dramatically in the past 50...
Globally, one size does not fit all
May 22 2006 // As trade barriers fall and innovations in technology continue at a breakneck speed, more U.S. companies are reaching out and investing in international markets. U.S. businesses cannot ignore opportunities in the global...
U.S. insurers withstood record catastrophe losses in 2005
May 22 2006 // Strong capitalization, sound risk management and efficient global risk sharing enabled the U.S. property/casualty insurance industry to withstand record-setting catastrophe losses in 2005, according to Frank J. Coyne,...
Coverage issues at core of Hurricane Katrina-related litigation
May 22 2006 // The amount of property damage caused by Hurricane Katrina in Mississippi and Louisiana has been extensively reported, as has the fact that many people in those states did not have flood insurance coverage. As a result,...
People and Places
May 22 2006 // RLI Corp. of Peoria, Ill., has hired Craig Kliethermes as vice president of actuarial services. Kliethermes will report to Joseph Dondanville, chief financial officer and senior vice president. His responsibilities include...
