Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Supreme Court Allows Discrimination Suit Over Allstate’s Use of Credit Scoring
Apr 28 2004 // Allstate Insurance Co. has lost its bid to squash a class action discrimination suit against it for its use of credit scoring in setting insurance prices. The U.S. Supreme Court this week denied the Northbrook, Ill.-based...
Canadian Firm to Acquire Marshall & Swift/Boeckh
Apr 27 2004 // MacDonald, Dettwiler and Associates Ltd. (TSX: MDA) in British Columbia announced a major expansion of its information products business in the U.S. The company has entered into an agreement to acquire privately held...
Feds Stymie Insurers’ Claims Against Alleged Terrorists
Apr 27 2004 // U.S. officials and insurance companies representing Sept. 11 victims are locked in an unusual legal standoff, stemming from the government’s refusal to admit it has the alleged mastermind of the attacks in...
Dorel Unveils Q1 Update; Insurer Dispute Raises Costs
Apr 27 2004 // Canada-based Dorel Industries Inc. announced that due to a dispute with one of its insurance carriers over the aggregate amount of insurance available to the company, including one claim that came due this month, Dorel is...
American Re Issues Statement Reinforcing Commitment to U.S. Casualty Business
Apr 26 2004 // American Re-Insurance Company, Munich Re’s U.S. subsidiary, has issued a statement underscoring its commitment to its U.S. casualty business. “We are in this business to stay and we want to assure our clients...
NAMIC Backs Asbestos Reform Bill
Apr 26 2004 // The National Association of Mutual Insurance Companies has released a comment on the Senate’s failure to invoke cloture on the pending asbestos litigation reform bill, S. 2290, which would have allowed floor...
Utah Supreme Court lowers $145 Million in Punitive Damages to $9 Million in State Farm Lawsuit
Apr 26 2004 // The Utah Supreme Court on Friday lowered by $136 million the amount of punitive damages State Farm Insurance should pay in a decades-old lawsuit alleging it underpaid insurance claims, cheated customers and destroyed...
Best Affirms Sirius ‘A’ Rating
Apr 23 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Sweden’s Sirius International Insurance Corporation, and removed the rating from under review where it was...
Bay Area Man Arrested on East Coast in $4 Million Insurance Fraud Scam
Apr 23 2004 // Richard W. Peterson, 63, of San Francisco, a former insurance broker/agent, was arrested April 19th at Miami International Airport on federal fraud charges for allegedly selling approximately $4 million of fake insurance...
Sen. Lautenberg to Hold NYC Briefing on Doing Business with States that Sponsor Terrorism
Apr 22 2004 // U.S. Senator Frank R. Lautenberg and New York City Comptroller William C. Thompson Jr. will host a press conference today, April 22, at 1:30 PM, to announce an amendment to the upcoming FSC-ETI bill to close a loophole...
Citizens Chooses Cunningham Lindsey U.S. as Preferred Claims Adjuster
Apr 22 2004 // Cunningham Lindsey U.S. Inc. (CLUS), based in Dallas, was named as one of six companies approved to provide claims administration services for Citizens Property Insurance Corporation (Citizens). CLUS said Citizens...
AXIS U.S. Expands Professional Liability Coverage; Builders’ Risk Capabilities
Apr 21 2004 // AXIS U.S. Insurance announced from its headquarters in Alpharetta, Ga., that it has expanded both its professional lines capabilities and its Builders Risk Product Offerings. For greater coverage of professional liability...
Willis Reports on Insurance Marketplace Conditions
Apr 20 2004 // Willis Group has also issued a report on market conditions in the industry (see related articles). The international broker said it had reached the following conclusions: — Competitive conditions return to certain...
XL Launches U.S. Primary Casualty Risk Management Program, Excess Workers Comp Division
Apr 20 2004 // Bermuda’s XL Capital Ltd. announced that it plans to enter the market for primary casualty risk management programs for major U.S. corporations. The company also announced the launch of an Excess Workers Compensation...
Aon Reports US Commercial Property Rates Drop 10%
Apr 20 2004 // A study by Aon, released to coincide with the RIMS conference in San Diego, has determined that an average reduction of around 10 percent has occurred in U.S. Commercial property rates. Willis and the CIAB also issued...
The Costly Reality: 10 Myths of Uninsured Americans
Apr 19 2004 // If members of Congress want to make a “serious dent” in reducing the number of Americans without health insurance, they will have to “claim and redirect a considerable amount of public resources,”...
Spanish Train Bombings Renew Terrorist Threat
Apr 19 2004 // March 11, 2004 now joins Sept. 11, 2001 as dates no one now living will ever forget. The sheer horror of watching the aftermath of 10 separate explosions on the Spanish rail network in Madrid brought home the brutal...
NORTH CAROLINA SENATE CANDIDATE SIGNS PLEDGE BACKING MEDICAL LIABILITY REFORM:
Apr 19 2004 // The North Carolina Chapter of Doctors for Medical Liability Reform announced that Congressman Richard Burr, currently running for U.S. Senate, has signed their pledge supporting federal legislation that would limit...
Slave Trade Suit Targets Lloyd’s, U.S. Companies
Apr 19 2004 // Ten present-day descendants of slaves who were transported from Africa in the 18th and 19th centuries have filed a lawsuit against R.J. Reynolds Tobacco Co., Fleet Boston Financial Corp. (as successor in interest to the...
Reports Find Wide Range of Auto Rates Across U.S.
Apr 19 2004 // Two recently released studies on trends in automobile insurance rates show a wide variation in the costs for coverage across the nation. At first glance, they also seem to show a big discrepancy in their findings. It turns...
