Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
People & Places
Apr 18 2005 // Debra Richardson The Citizens and Hanover Insurance Companies named Debra Richardson as regional vice president of The Hanover Insurance Company’s Texas region. In this capacity, Richardson will be responsible for...
Pet Peeve
Apr 18 2005 // I have a bone to pick with the insurance industry. Why is an industry that loses billions on cat losses every year so hot under the collar about dogs? You don’t have to be a poodle to know that with about 5 million...
Axa Contacted by N.Y. AG, U.S. Securities and Exchange Commission Over MBIA Transactions
Apr 13 2005 // French insurer Axa has reportedly been contacted by The New York Attorney General’s Office and the U.S. Securities and Exchange Commission regarding prior transactions its reinsurance body had with bond insurer...
Cunningham Lindsey International Adds Axis U.S.A.
Apr 13 2005 // Cunningham Lindsey International (CLI) announced its acquisition of Axis USA, a high-end specialty adjusting company located in New York and Los Angeles. Axis also provides comprehensive adjusting services to Fortune 500...
Best Affirms All XL Ratings
Apr 12 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) and has assigned an issuer credit rating of “aa-” to the Bermuda-based XL Capital Group and its...
First Underwriting Profit Since 1978, Investment Gains Send Industry’s Net Income and Surplus to Record Highs
Apr 12 2005 // Benefiting from a rare profit on underwriting and investment gains, the U.S. property/casualty insurance industry’s net income after taxes rose 29 percent to a record $38.7 billion in 2004 from $30 billion in...
Calif. Treasurer Calls for Sweeping Reforms at AIG
Apr 12 2005 // With the alleged fraud at giant insurer American International Group (AIG) resulting in losses to the State’s pension funds of more than $400 million since Feb. 14 when it was announced that AIG had received...
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
Lloyd’s CEO Outlines ‘Strategic Challenges’ Facing General Insurance Industry
Apr 8 2005 // Lloyd’s CEO Nick Prettejohn, speaking at the FSA insurance conference on Thursday, April, 7, outlined six “strategic challenges” facing the general insurance industry, which he also indicated was by no...
Greenberg, AIG and Starr Consent to Court Order Protecting Documents Sought in Investigation
Apr 8 2005 // The Securities and Exchange Commission said it has obtained a protective order against Maurice R. Greenberg, C.V. Starr & Company Inc. and American International Group Inc., in the United States District Court for the...
S&P Publishes Comparison Study on U.S. Surplus and Specialty Lines Insurers
Apr 7 2005 // Standard & Poor’s Ratings Services named Houston-based HCC Insurance Holdings Inc. as the leader in surplus and specialty insurance lines, in a new report – “Peer Comparison: U.S. Surplus And...
French Billionaire Denies Conspiring to take over Executive Life
Apr 7 2005 // Through two different translators, French mogul Francois Pinault sought to make one point universally clear to the federal jury hearing the civil suit over failed insurer Executive Life: He did nothing wrong. Testifying in...
Lloyd’s Recorded Strong 2004 Profit Despite Hits from Natural Catastrophes
Apr 6 2005 // Lloyd’s of London announced an annually accounted profit of $2,605 million in 2004. Although below profits of 2003, this result was achieved despite net claims of $2.3 billion from the U.S. hurricanes, in the...
More than 600 Catholic Clerics Accused of Sex Abuse of Minors
Apr 4 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 the subject...
Fireman’s Fund Launches Nationwide ‘Identity Theft’ Recovery Service
Apr 1 2005 // California-based Fireman’s Fund Insurance Company, the principal U.S. operating unit of Germany’s Allianz, announced that it now provides Identity Theft Restoration Services throughout the United...
CIAB Wins Countersignature Lawsuit in Puerto Rico
Apr 1 2005 // The Council of Insurance Agents & Brokers, the trade association that represents the nation’s largest commercial P/C and benefits brokers, announced the successful outcome of its lawsuit in Puerto Rico to strike...
S&P Report Notes Slower Growth in U.S. P/C Surplus
Apr 1 2005 // Standard & Poor’s Ratings Services has published a report comparing the past two years of U.S. P/C surplus growth, titled “U.S. Property/Casualty Surplus Growth Slows In 2004.” S&P credit...
New GAO Study: U.S. Needs Government Help to Insure for Catastrophes and Terrorism
Mar 31 2005 // A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government intervention if there were a major terrorist or catastrophic event or series of...
Fitch Says P/C Views Record U.S. Catastrophe Losses in 2004, However Profitability Moves Up
Mar 30 2005 // The U.S. property and casualty industry posted stronger underwriting results and profitability in 2004 relative to 2003, despite sharp increases in catastrophe losses for many market participants related to the...
Copy of AIG Chairman Greenberg’s Retirement Letter
Mar 29 2005 // The Board of Directors of American International Group, Inc. (AIG) confirmed that it has received a letter from David Boies on behalf of its Chairman M. R. Greenberg, indicating his intent to retire from his position as...
