Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Commercial Property Market Survives Extraordinary and Ordinary Catastrophes
Jan 3 2005 // The commercial property market took a huge hit from four major hurricanes that struck the U.S. mainland this past year. The full effects may have yet to be felt, however, it looks like commercial property insurers came...
Impact on Other Agents of Conn. Verdict Against Nationwide Doubted
Jan 3 2005 // A recent $2.3 million jury verdict for wrongful termination in favor of a former Nationwide Insurance contract agent from Connecticut is unlikely to have any effect on independent agents or their companies, according to...
People & Places
Jan 3 2005 // Stephen D'Arcy Stephen D’Arcy, professor of finance at the University of Illinois at Urbana-Champaign, began his term as president of the Casualty Actuarial Society at the organization’s annual meeting....
A Fresh Look at Rating Territories for Auto and Homeowners Insurance
Jan 3 2005 // Inaccurate Territories and Assignments Hurt Consumers, Agents and Companies Territories offer tremendous opportunities for insurance companies to better segment their book of business, but private passenger auto and...
Washington’s Workers’ Comp Rates Rank in Lowest One-Third in U.S.
Dec 30 2004 // A new rate-comparison study shows that workers’ compensation rates in Washington remain among the lowest in the nation. The 2004 “Workers’ Compensation Premium Rate Ranking” study by the Oregon...
Consumers Warned Over Alleged Loan, Insurance Scam by Jefferson Financial, Watermark Insurance
Dec 29 2004 // The Vermont Department of Banking, Insurance, Securities and Health Care Administration and the nation’s Better Business Bureaus have issued consumer advisories against companies going by the names Watermark...
Fitch Sees Tsunami Repercussions Varying Across Insurance Sector
Dec 29 2004 // Fitch Ratings has issued a bulletin indicating that it “expects insured losses stemming from the recent Southeast Asian earthquake and tsunami to affect the Asian primary insurance market and the worldwide...
President Bush Tells Asian Leaders U.S. is Committed to Helping in Wake of Devastation
Dec 29 2004 // President George W. Bush told Asian leaders that the United States is committed to helping their countries following Sunday’s earthquake and killer tsunamis that have killed more than 60,000 people. The following is...
Conn. Agency Admits to Illegal Contributions
Dec 28 2004 // A Wethersfield, Conn. insurance agency has pleaded guilty to making illegal campaign contributions to disgraced former Waterbury Mayor Philip Giordano, who is in prison for sexually abusing two girls. Five employees of...
Best Reports P/C Industry Maintains Underwriting Profit, Despite “Unprecedented Cat Events”
Dec 28 2004 // A.M. Best Co. has released a year-end report on the U.S. P/C industry, which indicates that, “despite the colossal hurricane losses posted during the third quarter of 2004,” it “reported very strong...
NOAA: U.S. Reported Tornadoes Reaches Record High
Dec 27 2004 // The total number of tornadoes reported in the United States reached a record high during the year 2004, surpassing the previous record by almost 300, according to officials at NOAA’s Storm Prediction Center in...
Best Affirms Members of Quanta Capital Ratings
Dec 23 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Bermuda-based Quanta Reinsurance Ltd. (Quanta Re) and its three strategic pooled subsidiaries: Quanta...
S&P Publishes U.S. P/C Industry ‘Report Card’
Dec 23 2004 // According to a study published today by Standard & Poor’s Ratings Services, the U.S. property/casualty insurance industry has experienced greater ratings stability in 2004, primarily due to improved...
The Hartford Latest Insurance Company to Hire Top Prosecutor to Deal with Blizzard of Subpoenas
Dec 22 2004 // The Hartford Financial Services Group has hired a top federal corruption prosecutor in Connecticut amid a wave of state investigations into the insurance industry. The Hartford, which has been subpoenaed by attorneys...
U.S.I. Holdings Unveils Expense, Staff Reductions and Plans to Sell Certain Operations
Dec 22 2004 // The directors of U.S.I. Holdings Corporation of Briarcliff, N.Y. have approved a plan to reduce ongoing operating expenses. The plan is expected to result in cost savings of approximately $5 million, before taxes, in...
Dallas Industry Day Focuses on Profitability, Tort Reform, Ratings
Dec 20 2004 // Texans like to say everything is bigger in Texas, but economist Robert P. Hartwig came to Dallas to explain that big numbers alone aren’t worthy of celebration. The Texas insurance industry, for example, enjoys big...
People & Places
Dec 20 2004 // Ken Nigohosian The American Agents Alliance Board of Governors announced the selection of Ken Nigohosian as the association’s new executive director. He has worked for Safeco Insurance for 25 years. He began his...
Industry Sees First 9-Month Net Gain on Underwriting in Nearly Two Decades
Dec 20 2004 // Benefiting from profits on underwriting, the U.S. property/casualty insurance industry’s net income after taxes rose 28.3 percent to $26.7 billion in the first nine months of 2004 from $20.8 billion in the first nine...
People & Places
Dec 20 2004 // John Tympanick The Liquor Liability Joint Underwriting Association of Massachusetts (LLJUA) has named John W. Tympanick as president. LLJUA, based in Westboro, Mass., is a last-resort liquor liability insurance provider...
Jury Backs $2.3 Million Award to Terminated Independent Agent; Nationwide to Challenge Verdict
Dec 17 2004 // An eight person jury in the United States District Court in Connecticut awarded $2.3 million in compensatory damages to an independent insurance agent in a decision expected to have serious ramifications on the...
