Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
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...
Fairfax Completes US$300 Million Equity Issue
Dec 17 2004 // Toronto-based Fairfax Financial Holdings Limited announced today that it has obtained all requisite regulatory approvals and closed its previously announced issuance of US $300 million of subordinate voting shares...
Fitch Affirms Everest Re Ratings
Dec 17 2004 // Fitch Ratings announced that it has affirmed all ratings related to Everest Re Group, Ltd., including the “A-” senior debt and long-term issuer rating of intermediate holding company, Everest Reinsurance...
Third Annual Report Identifies ‘Judicial Hellholes’
Dec 15 2004 // The third annual “Judicial Hellholes” report – a ranking of the worst courts in the United States – shows a disturbing scenario for one Illinois county. As a result of what happens in the Hellhole...
Swiss Re Conference Sees Continued Industry Growth
Dec 15 2004 // Andreas Beerli, Head of Swiss Re’s U.S. P/C business in the Americas, speaking at the company’s annual year-end economic and insurance industry review and outlook, asserted that the P/C reinsurance industry...
Texas Occupational Injury, Illness Rate Lower than National Rate for 14th Straight Year
Dec 14 2004 // The Texas Workers’ Compensation Commission (TWCC) reported that in the latest reporting period for nonfatal workplace injury and illness incidence rates, Texas was lower than the national rate. In 2003, the Texas...
Actuaries Address Concerns Over Professions Integrity
Dec 10 2004 // The actuarial profession in several countries is developing new rules and standards to affirm its integrity and competence to the public, said international representatives at the Casualty Actuarial Society (CAS) annual...
