Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
XN Launches Canada Law Firm Policy
Feb 24 2006 // XN Holdings, parent company of XN Risk Insurance Services (Canada) Inc., announced the launch of a Law Firm Management Liability Policy designed to meet the evolving needs of Canadian legal professional firms. XN said the...
Insurers Again Call for U.S. Reinsurance Collateral Changes at World Insurance Forum
Feb 24 2006 // The issue of reinsurance collateral dominated the opening session of the World Insurance Forum in Bermuda as it has other gatherings where reinsurance is discussed. It was not the first time that Lloyd’s Chairman,...
The Hartford’s Life Operations Creates Two New Units
Feb 24 2006 // The Hartford Financial Services Group Inc. announced that its life operations has created two new business groups — U.S. Wealth Management and International Wealth Management and Group Benefits to drive growth. John...
IAG Reports $340.7 Million 6 Month Profit; To Return $147.8 Million; S&P Sees No Rating Change
Feb 23 2006 // Insurance Australia Group Ltd. (IAG), the country’s biggest auto and home insurer, posted a six-month profit for the period ended Dec. 31, 2005 of A$461 million (US$340.7 million). However, overall policy sales...
QBE Reports 2005 Profits Up 27% to $806 Million
Feb 23 2006 // The directors of Australia’s QBE Insurance Group Limited announced that net profit after tax for the 2005 financial year increased by 27 percent to A$1.091 billion (US$806 million). Profit before tax was up 37...
Lawmakers Question Arab Company Takeover of Major U.S. Ports
Feb 22 2006 // U.S. terms for approving an Arab company’s takeover of operations at six major American ports are insufficient to guard against terrorist infiltration, the chairman of the House Homeland Security Committee...
Md. Water Taxi Insurer Sues Coast Guard, Citing Too Many Passengers
Feb 21 2006 // Insurers for the company that ran the water taxi that capsized in the Inner Harbor, killing five people, sued the U.S. Coast Guard on Friday, claiming the military branch certified the taxi for too many passengers. The...
Report Details Injured Nuclear Workers’ Frustrations with U.S. Benefits System
Feb 21 2006 // The federal government has paid about $1.5 billion in benefits to thousands of sick nuclear weapons workers under a five-year-old program, but more could be done for thousands of others, says a report by a federal...
Miss. Communities Have Until Feb. 28 to Collect Debris Roe Requests
Feb 21 2006 // Local governments in Mississippi requesting federal funding for debris removal on private property have until Feb. 28, 2006, to collect signed Right of Entry (ROE) requests from residential property owners. The date...
S&P reports favorable workers’ comp outlook
Feb 19 2006 // The outlook for the U.S. workers’ compensation sector in 2006 is good, with the ratings impact for insurers expected to be neutral on the whole, according to a report from Standard & Poor’s Ratings...
Best Continues Negative Outlook on U.S. Commercial Sector
Feb 17 2006 // A.M. Best Co. has completed its assessment of the U.S. commercial market and is extending its negative outlook for 2006. As a consequence, A.M. Best anticipates that there will be few rating upgrades or positive rating...
R&M Finds European Insurers More Positive on Outsourcing than U.S.
Feb 16 2006 // In a new addition to their offering – “Outsourcing in Insurance: Perspective 2006” – Dublin-based consultants Research and Markets concludes that, “despite recent strong results on both sides...
Best Maintains Negative Outlook on U.S. and Bermuda Re Sectors
Feb 16 2006 // A.M. Best Co. announced that after completing an assessment of the U.S. and Bermuda reinsurance markets, it is extending its negative outlook for 2006. Best said it “anticipates that there will be few if any rating...
Houston Man Offers Guilty Plea in Katrina Disaster Fund Scheme
Feb 16 2006 // United States Attorney Chuck Rosenberg reported that Clifford Neville, 53, of Houston, Texas, has been convicted of filing a false claim with the Federal Emergency Management Agency (FEMA) for Hurricane Katrina Disaster...
U.S. Risk Insurance Acquires Lighthouse Underwriters
Feb 15 2006 // U.S. Risk Insurance Group in Dallas, Tex. is acquiring Lighthouse Underwriters, LLC of Anandale, Va. Under the terms of the agreement, Lighthouse will become an operating division of U.S. Risk Insurance Group, but will...
Hanson U.S. Reaches Asbestos Coverage Agreement with Insurers
Feb 14 2006 // Hanson PLC, an international building materials company, announced that one of its U.S. subsidiaries, responsible for approximately 20 percent of the group’s present asbestos costs, has reached a settlement with its...
A.M. Best: P/C Industry Reports Underwriting Loss
Feb 14 2006 // Driven by the largest natural catastrophe in U.S. history, Hurricane Katrina, the U.S. property/casualty industry’s underwriting loss was $2.8 billion for the first nine months of 2005, reversing the $3.4 billion...
S&P Comments on ‘Alien Reinsurer’ Collateral Requirements
Feb 13 2006 // Standard & Poor’s Ratings Services has published an article titled, “Credit FAQ: Hotly Debated Collateralization Rule Change May Affect Insurer/Reinsurer Capital Needs,” which examines several of the...
Retailers File Suits Against ‘Fair Share’ Mandates in Md., N.Y. Courts
Feb 8 2006 // A group of retailers has filed suits challenging laws in Maryland and New York that were enacted to pressure employers to spend a minimum amount oin employees’ health benefits. The Retail Industry Leaders Association...
Outlook Good For U.S. Workers’ Comp; State Reforms, Strong Results Factors
Feb 8 2006 // The outlook for the U.S. workers’ compensation sector in 2006 is good, with the ratings impact for insurers expected to be neutral on the whole, according to a report released by Standard & Poor’s Ratings...
