Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Hurricane Spin-down Coverage
Sep 20 2004 // Nuts & Bolts: ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, introduced hurricane spin-down insurance that can be used by the chemical process industry to help reduce the financial...
CAT Modelers: Ivan’s Estimated Losses Up to $10B
Sep 20 2004 // Initial estimated insured losses from Hurricane Ivan range from about $2 billion to about $10 billion, according to catastrophe modelers Eqecat, Inc. The estimated range of insured losses takes into account Category 3...
Building Relationships Key to Success Says NAPSLO’s Incoming President
Sep 20 2004 // Polizzi Prepares to Take the Reins at Orlando Convention Thirty years ago a small group of surplus lines professionals met in Miami Beach, Fla., to form what would be known today as the National Association of Surplus...
Converium’s Conundrum: Reserve Requirements Hit Reinsurer
Sep 20 2004 // When Zurich Financial Services (ZFS) spun off its reinsurance operations into Converium in September 2001, the new company had a bright future. Initial capitalization exceeded $1.6 billion; ZFS had agreed to retain...
Commercial Property
Sep 20 2004 // Nuts & Bolts: AXIS U.S. Insurance’s excess and surplus property unit is now offering property insurance coverage for U.S.-based lumber, wood products and furniture risks. The underwriting of this specialized...
People and Places
Sep 20 2004 // Jonathan Freeburg Chicago-based online wholesaler Noodle Specialty Brokers announced that Jonathan Freeburg has joined the company as a senior underwriter focusing on private company directors’ and officers’...
People and Places
Sep 20 2004 // Troy Moody Denver-based Moody Insurance Agency, which specializes in insurance, risk management and bonding services for contractors, announced Troy Moody has been named the company’s first COO. In his new role as...
Ivan Not Finished With U.S.; I.I.I. Reports on Florida Hurricane Damage
Sep 18 2004 // While he lost his hurricane designation several days ago, what was Hurricane Ivan continued to bring misery to the United States, spawning more tornadoes and drenching areas from Georgia up through Pennsylvania in the last...
Fitch Estimates Ivan May Become Second Costliest Hurricane For U.S. P/C Insurers
Sep 17 2004 // Chicago-based Fitch Ratings has issued some preliminary comments on the extent of the losses from Hurricane Ivan’s destructive rampage through Alabama, Florida and other Gulf Coast States. Fitch noted that...
U.S. Risk LLP Associate Broker Receives Wells Scholarship to Attend Producer School
Sep 16 2004 // James Russell Debenport, an associate broker in U.S. Risk LLP’s Houston office, was selected as the recipient of the Matt Wells Scholarship for Producer Development for attendance at The National Alliance School for...
Fugitive Sought in Alleged Insurance Scam Arrested
Sep 16 2004 // An international manhunt for a fugitive sought in an alleged $20 million nationwide insurance fraud has ended with his arrest in Canada, according to federal and state authorities in California. A federal complaint filed...
Industry-Backed Study Claims TRIA Extension Would Strengthen U.S. Economy
Sep 15 2004 // A study, commissioned by the American Insurance Association, Financial Services Roundtable, National Association of Mutual Insurance Companies, National Council on Compensation Insurance, Property Casualty Insurers...
Ivan Skirts Cuba, Yucatan; Heads for U.S. Gulf Coast
Sep 14 2004 // Powerful Hurricane Ivan continues to play cat and mouse with forecasters. As of yesterday morning the Category 5 storm was headed for Western Cuba, but just before hitting the island, Ivan moved westward. The main body of...
Best Reports on Bermuda Insurers
Sep 14 2004 // A.M. Best Co. has issued a report on Bermuda’s insurance and reinsurance industry, timed to coincide with the Reinsurance Rendezvous, currently being held in Monte Carlo. Best reported that in the “first six...
Best Announces Rating Actions on R&SA
Sep 13 2004 // A.M. Best Co. announced several rating actions concerning the U.K.-based insurance group Royal & Sun Alliance and its subsidiary companies. Best affirmed the financial strength rating of “A-” (Excellent)...
Ivan Continues Caribbean Rampage: Jamaica, Cayman’s Hit; Cuba and U.S. on Alert
Sep 13 2004 // Hurricane Ivan continued its destructive rampage through the Caribbean over the weekend, pummeling the island of Jamaica with winds of 155 mph (250km/h), 23 foot (7 meter) waves and heavy rainfall. Ivan is one of the...
Converium Confirms U.S. Operations Run-off ; Comments on Ratings Downgrades
Sep 13 2004 // Swiss-based reinsurer Converium expressed disappointment with Standard & Poor’s latest decision to lower the holding company’s ratings from “A-” to “BBB.” It also confirmed plans to...
Cunningham Lindsey U.S. Names Devall Director of E&S
Sep 13 2004 // Cunningham Lindsey U.S. Inc. (CLUS), based in Dallas, announced the promotion of Jim Devall to director of E&S. Devall, with more than 20 years claims experience, began his specialization in the surplus lines market...
ATRA Urges U.S. House to Help Halt Lawsuit Abuse
Sep 13 2004 // The American Tort Reform Association (ATRA) is urging the U.S. House of Representatives to support the Lawsuit Abuse Reduction Act of 2004 (LARA), which is scheduled for debate in the House on Tuesday. “This common...
A.M. Best Says Reinsurer Financial Strength in Balance
Sep 11 2004 // A mix of positive and negative forces continues to influence the financial strength of reinsurers, according to A.M. Best Co. in the special report, Global Reinsurance. The net effect reportedly continues to be a largely...
