Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
S&P Affirms Ratings on AXA Run-off Units; Removed from CreditWatch
Sep 28 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its “BBB” long-term counterparty credit and insurer financial strength ratings on U.S.-based AXA Corporate Solutions Life Reinsurance...
Jeanne Makes 2004 Costliest for U.S. Hurricane Losses
Sep 28 2004 // Hurricane Jeanne, the fourth major storm to hit Florida this year, has caused between $4 billion and $14 billion in insured losses in the state, meaning that 2004 may now be the insurance industry’s costliest year...
S&P Comments on Hurricane Jeanne’s $7 Billion Impact on U.S. P/C Insurers
Sep 28 2004 // Standard & Poor’s Ratings Services has issued a comment on the state of the U.S. property/casualty insurance industry and its short- and intermediate-term prospects in the wake of Hurricane Jeanne, the fourth...
Swiss Re Estimates Hurricane Ivan, Typhoon Songda Claims Around $300 Million
Sep 27 2004 // Swiss Re announced that, based on current estimates, it expects its claims related to Hurricane Ivan and Typhoon Songda to be approximately $300 million before tax. The bulletin noted that these estimates are in addition...
ACE USA Expands DBA Workers’ Comp Coverage; House Named to Lead DBA Product Initiative
Sep 24 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the expansion of its Defense Base Act (DBA) product offerings. The new coverages includes “risk control and claims management...
U.S. Labor Secretary Notes $10 Million Grant to Assist N.C. Workers Following Hurricanes
Sep 23 2004 // U.S. Secretary of Labor Elaine Chao visited Asheville, North Carolina on Thursday to survey hurricane damage and announce a National Emergency Grant of up to $10 million, with an initial release of $3.5 million. The grant...
U.S. Human Services Chief Thompson Hopes ‘Early Offers’ Pilot Will Reduce Medical Error Litigation
Sep 22 2004 // Health and Human Services (HHS) Secretary Tommy G. Thompson has announced an “Early Offers” pilot program aimed at encouraging settlements of patients claiming to have been injured by medical mistakes. HHS...
Lloyd’s Chairman’s Remarks to Houston Forum
Sep 21 2004 // Lloyd’s has released an advanced summary of remarks to be made by its Chairman, Lord Peter Levene, in a speech to Texas business leaders at the Houston Forum Monday night. Lloyd’s said Levene would urge...
A Fresh Look at Rating Territories for Auto and Homeowners Insurance
Sep 20 2004 // 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...
AIR Releases 2004 U.S. Storm, Terrorism Models
Sep 20 2004 // AIR Worldwide Corp. announced the release of its 2004 U.S. hurricane, earthquake, severe thunderstorm and terrorism models. The updated models reflect the latest scientific and engineering research into these perils, as...
Fiduciary Liability: The Most Misunderstood of Management Exposures
Sep 20 2004 // In the early 1960s, life in the United States was lived at a slower pace. Transportation and communication required more time (and patience) and employees were more inclined to trust employers on issues relating to...
Visitors to U.S. – Health Coverage
Sep 20 2004 // Nuts & Bolts: Florida-based XN Financial Services announced it will offer health insurance products and services to foreign nationals traveling in the U.S. through RCM&D, an Assurex Partner located in Baltimore,...
A Fresh Look at Rating Territories for Auto and Homeowners Insurance
Sep 20 2004 // 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...
Insurance Industry Hopes to Extend TRIA in Time for 2005 Policies
Sep 20 2004 // But Not Everyone Thinks Renewing the Federal Backstop is a Good Idea Regardless of whether George W. Bush is re-elected or John Kerry moves into the White House, the property/casualty insurance industry appears to have a...
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’...
