Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
N.C. Insurance Commission Meets With Delegates From the Former Soviet Union
Feb 23 2005 // The North Carolina Insurance Commission shared information about the insurance industry and insurance regulation last week in Raleigh as it welcomed 19 hospital administrators and head physicians from Armenia, Azerbijian,...
U.S.I. Appoints Remig as Mid-Atlantic President
Feb 23 2005 // U.S.I. Holdings Corporation has appointed Philip W. Remig as president of its Mid-Atlantic offices in Trooper and Allentown, Pennsylvania. Remig joins USI from Aon Risk Services where he held various positions during the...
Supreme Court Rules Big Dig Dredge a Vessel for Purpose of Allowing Injured Worker to Sue Owner
Feb 23 2005 // The United States Supreme Court has ruled that workers injured on dredges like one used in the Big Dig construction are not limited to workers compensation but may also sue the vessel’s owner for negligence. Writing...
Best Sees Underwriting Discipline in January European Reinsurance Renewals
Feb 21 2005 // European January reinsurance renewals confirm A.M. Best Co.’s expectations that underwriting discipline is being maintained, despite wide capacity availability. The rating agency noted that overall premium rates have...
Scripps Study Finds Greenhouse Gases Proximate Cause of Ocean Warming
Feb 21 2005 // Researchers at the Scripps Institution of Oceanography at the University of California, San Diego, and their colleagues have produced the first clear scientific evidence that human activity-and very little else- is warming...
More than 600 Catholic Clerics Accused of Sex Abuse of Minors, Incidents Date Back Decades
Feb 21 2005 // More than 600 U.S. Catholic diocesan priests and deacons were accused in 2004 of sexual abuse of minors, with the majority of allegations of abuse occurring between 1970 and 1974. Half of these clergy had been subject of...
Is the Industry Repeating the Past – Yet Again’
Feb 21 2005 // In a collection of works titled The Life of Reason, the philosopher George Santayana wrote, “Those who cannot remember the past are condemned to repeat it.” Currently there’s a momentous shift underway in...
People & Places
Feb 21 2005 // Rodolfo Revuelta Rodolfo Revuelta was elected senior vice president and chief investment officer of New Orleans-based Pan-American Life Insurance Company. In addition, Luis Inglés Jr., senior vice president for...
U.S. P/C INSURERS CONTINUE TO BOOST LOSS RESERVES FOR OLD BUSINESS:
Feb 21 2005 // For U.S. property/casualty insurers, periodic glimpses of rising profitability have been overshadowed by relentless price-cutting, natural and man-made catastrophes, and claims inflation. Following an unprecedented surge...
People & Places
Feb 21 2005 // Jeannie Davila Encino, Calif.-based NAS Insurance Services has appointed Jeannie Davila as assistant vice president in charge of its new E&S Property Insurance facility. Davila brings 30 years of insurance experience...
Surplus Lines Experiencing Softening Market with Rest of Industry
Feb 21 2005 // Insurance Journal recently surveyed several surplus line associations regarding their thoughts on the current atmosphere of the surplus lines marketplace, and their expectations into 2005. Executive director Ted Pierce of...
Kyoto Protocol Comes into Force; Debate on Global Warming Continues
Feb 17 2005 // The “Kyoto Protocol” or Treaty, a global agreement aimed at reducing greenhouse gasses, has come into force seven years after it was established. So far 141 countries, accounting for 55 percent of greenhouse...
Calif. Man Indicted on Federal Charges in International Insurance Fraud Scam
Feb 16 2005 // Matthew Wallace Schachter, aka Robert Lewis Brown, aka Matthew C. Rollins (Brown), 58, was indicted on federal charges relating to an insurance fraud scheme that allegedly netted more than $20 million over the last four...
Man with Multiple Identities Indicted on Federal Charges in International Scam
Feb 14 2005 // Matthew Wallace Schachter, aka Robert Lewis Brown, aka Matthew C. Rollins (Brown), 58, was indicted last week on federal charges relating to an insurance fraud scheme that allegedly netted more than $20 million over the...
Two Plead Guilty in Big Virginia Insurance Fraud Case Involving Former Malpractice Reciprocal
Feb 11 2005 // Two former top officers of collapsed Reciprocal of America are scheduled for sentencing in June for their roles in what a federal prosecutor called one of Virginia’s biggest insurance fraud cases. Kenneth R....
Kingsway Notes 54% Gain in Net Income
Feb 10 2005 // Toronto-based Kingsway Financial Services Inc. announced financial results for the quarter and year ended Dec. 31, 2004, and the declaration of an initial quarterly dividend of 5 cents per share. For the fourth quarter net...
ACEC Backs Senate Passage of Class Action Reform Bill; First Step to Bringing Help to Legal System
Feb 10 2005 // The American Council of Engineering Companies (ACEC) strongly endorsed Thursday’s Senate passage of the Class Action Fairness Act (S.5), as a first step in bringing common sense and meaningful reform to a troubled...
ISO: Insurers Pay a Record $27.3B in 2004 Cat Losses
Feb 9 2005 // U.S. property/casualty insurers paid a record $27.3 billion for insured property losses to homeowners and businesses from 22 catastrophic events last year—surpassing losses from 2001 that included the Sept. 11...
S&P: U.S. Property/Casualty Insurers Continue To Boost Loss Reserves For Old Business
Feb 8 2005 // For U.S. property/casualty insurers, periodic glimpses of rising profitability have been overshadowed by relentless price-cutting, natural and man-made catastrophes, and claims inflation. Following an unprecedented surge...
AXIS Capital Sees Net Income of $495M for Year Ended
Feb 8 2005 // Bermuda-based AXIS Capital Holdings Ltd. has reported net income for the year ended Dec. 31, 2004 of $495.0 million, or $2.98 per diluted share, compared to $532.3 million, or $3.42 per diluted share, for the year ended...
