Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
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...
ACE Forms Logistics Industry Practice Division
Mar 28 2005 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has created the ACE Logistics Industry Practice. This specialized practice will focus on providing comprehensive insurance coverage and...
PCI Announces Staff Hires, Promotions
Mar 28 2005 // The Property Casualty Insurers Association of America has announced the addition of William “Bill” Fritts to serve as executive vice president, responsible for oversight and coordination of PCI’s federal...
Glencoe Acquires Savannah Re from Palmer & Cay
Mar 25 2005 // In a joint announcement private retail brokerage firm Palmer & Cay, Inc., and Glencoe U.S. Holdings Inc., the wholly owned U.S. subsidiary of Bermuda’s RenaissanceRe Holdings Ltd., affirmed that Glencoe has...
Survey: Consumer Driven Health Plans Making Headway in U.S. Companies
Mar 24 2005 // According to a recent survey of 208 benefits managers, 22 percent of companies responding now offer a consumer driven health plan option (CDHP) to employees. Seventy-four percent of the companies offering CDHPs started...
Crawford & Company U.S. Quality Award Program Honors Employee Performance
Mar 23 2005 // Crawford & Company, of Atlanta has announced its 2004 winners of its U.S. Quality Award Program. The program recognizes Crawford employees and branches for consistent outstanding performance in producing a quality...
MarshMac Emerges from Difficult Year with Downsizing and Disclosure Plan
Mar 21 2005 // Marsh Will Drop ‘Unprofitable’ Accounts But MMC Will Keep Putnam and Mercer Units Giant insurance broker Marsh, battered by regulators, soft market prices and competitors in 2004, plans on dropping thousands of...
Killer Tsunamis and the Marine Insurance Market
Mar 21 2005 // Early in the morning hours on Dec. 26, 2004, opposing subterranean tectonic plates deep beneath the Indian Ocean floor shifted in violent unison along a line about 300 miles long. The energy released was on par with a...
GENERAL RE UNDER SCRUTINY:
Mar 21 2005 // General Reinsurance, a subsidiary of Berkshire Hathaway Inc., has been subpoenaed in an investigation of Reciprocal of America, a former Virginia-based professional liability insurer whose collapse is considered one of the...
Workers’ Compensation: In-Between the Good, the Bad, and the Injuries
Mar 21 2005 // With overall claims frequency still on the decline and loss costs and rates relatively stable, the state of the workers’ compensation line nationwide continues to show positive signs of improvement. Nevertheless, the...
People & Places
Mar 21 2005 // James B. Allen Toledo, Ohio-based agency Hylant Group announced the promotion of James B. Allen to vice president of risk management and vice president legal counsel. In the newly created position of legal counsel, he will...
People & Places
Mar 21 2005 // Genia Walden Pacific Wholesale Insurance named Genia Walden as a company vice president. She will function both as a broker and an underwriter for the Dallas-based firm. Walden formerly served other leading MGA/brokerage...
Man with Multiple Identities Indicted in International Scam
Mar 21 2005 // Matthew Wallace Schachter, aka Robert Lewis Brown, aka Matthew C. Rollins, was indicted in February on federal charges relating to an insurance fraud scheme that allegedly netted more than $20 million over the last four...
Horton China Desk Offers U.S. Brokers an Option When Placing Coverage in China
Mar 18 2005 // The Horton Group of Orland Park, Ill., has announced a new facility to assist agents and brokers in the United States with placing and servicing property, casualty and employee benefit covers directly into the...
Business Leaders Warn of ‘Rolling Crisis’ As Federal Terror Insurance Program Nears Expiration
Mar 18 2005 // U.S. business leaders came out in force this week to urge renewal of the federal Terrorism Risk Insurance Act and warn that market restrictions on terror insurance coverage are already beginning to be felt in the...
Munich Re Posts $2.44 Billion 2004 Group Net Profit
Mar 16 2005 // Germany’s Munich Re Group celebrated its 125th anniversary year in style, recovering from a 434 million euro ($578 million) loss in 2003 to post 2004 net profits of 1.833 billion euros ($2.44 billion) despite a...
R&SA Confirms Plan to Sell U.S. Non-Standard Auto Unit
Mar 14 2005 // While the U.K.’s Royal & SunAlliance moved out of the red in 2004 (See IJ Web site March 10), the company is still committed to further reforms of its U.S. operations, R&SA-USA. It has already significantly...
Aon Units Release Global Climate/Catastrophe Report
Mar 11 2005 // Two Aon subsidiaries, Aon Re Global and Impact Forecasting, LLC, have released a report on 2004’s natural catastrophes, describing “a year of freakish weather patterns, ending with the worst natural disaster in...
R&SA Posts $1.92 Million 2004 Profit; Names Two New U.S. Board Members
Mar 10 2005 // The U.K.’s Royal & Sun Alliance continues on the road to recovery, posting a £1 million ($1.92 million) net pretax profit and an operating result of £456 million ($876 million), compared to £140 million ($269...
Fla. Legislature Considering International Insurance Bill
Mar 9 2005 // The Florida Legislature is considering a bill that could make the state a center for international insurance, much as it already is for international banking. The House Insurance Committee unanimously passed the measure...
