Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Jury Recommends Segal Forfeit $30 Million, 60% Stake in Near North
Jun 24 2004 // The jury that convicted Chicago insurance broker Michael Segal of racketeering and fraud has recommended that he be ordered to forfeit $30 million and 60 percent of his interest in Near North Insurance Brokerage...
HSC: Home Injuries Cost U.S. Employers $38 Billion Annually
Jun 24 2004 // According to the State of Home Safety in America report (2004), a new study released by the Home Safety Council, employers are spending an average of $280 per employee equating to $38 billion a year for injuries suffered...
Insurer Groups Laud Congressional Effort to Extend TRIA
Jun 23 2004 // At a press conference on Tuesday, four members of the House of Representatives introduced a bill extending the Terrorism Risk Insurance Act (TRIA). Both the American Insurance Association and the National Association of...
Segal Found Guilty; Faces At Least 20 Years
Jun 23 2004 // A federal jury convicted politically connected Chicago broker Michael Segal of embezzling more than $20 million from his own insurance brokerage firm. Michael Segal—known for having close ties to powerful politicians in...
AXIS Specialty Europe to Offer Professional Lines
Jun 22 2004 // AXIS Capital Holdings Limited announced that its European insurance subsidiary, AXIS Specialty Europe Limited (AXIS Europe), has begun underwriting Directors and Officers Liability Insurance and other Professional Lines...
CLINTON SEEKS APPLE INSURANCE:
Jun 21 2004 // U.S. Sen. Hillary Rodham Clinton of New York has joined with her Senate colleagues in a campaign to improve crop insurance coverage for all apple growers in New York and across the country. In a letter to Agriculture...
Entertainment, Terrorism Don’t Mix
Jun 21 2004 // I don’t know about you, but I love to attend concerts, festivals, sporting events… just about anything that draws a big crowd. The mass gathering of people brings to the event a certain excitement that smaller...
The Truth About Texas’ Homeowners Insurance Industry
Jun 21 2004 // Due to recent reforms the Texas insurance market is stabilizing and loss ratios in Texas are better. But while things are better, conditions are far from first-rate for insurance companies. There have been no real signs of...
Entertainment and Terrorism Don’t Mix
Jun 21 2004 // I don’t know about you, but I love to attend concerts, festivals, sporting events… just about anything that draws a big crowd. The mass gathering of people brings to the event a certain excitement that smaller...
Supreme Court Ruling Paves the Way for NAFTA
Jun 21 2004 // The U.S. Supreme Court unanimously agreed to overturn a lower court ruling that had required the U.S. Department of Transportation to undertake an environmental impact study under the Clean Air Act before opening the...
Panelists Say U.S Reinsurers Must Resist Temptation
Jun 18 2004 // U.S. reinsurers are in peril of repeating the mistakes of history by sacrificing profitability, according to a panel of industry leaders at Standard & Poor’s Annual Insurance Conference in New York City. Now...
Government to Pay Out Millions for WC Claims in Iraq
Jun 18 2004 // Mounting deaths and injuries to American civilian contractors in Iraq could cost the U.S. government millions of dollars for hundreds of workers’ compensation claims. U.S. law requires all government contractors and...
Best’s Report Finds European Reinsurers’ Financial Strength Stabilized
Jun 18 2004 // A study conducted by A.M. Best Co. has concluded that Europe’s reinsurers have seen their financial strength stabilize after a two-year period of downward pressure. “Strong accident year results were maintained...
S&P Publishes P/C Insurer Report Card
Jun 17 2004 // Industry-wide price strengthening was a driving factor in the financial results of U.S. property/casualty insurance companies in 2003, according to an industry report card published by Standard & Poor’s Ratings...
AIR Provides Modeling Support for Helix Catastrophe Bond Launched by Converium
Jun 15 2004 // AIR Worldwide Corporation (AIR) announced it has performed the risk modeling and analysis in support of a private placement by Helix 04 Limited, a Bermuda special purpose exempted company. The five year, $100 million...
Schaefer to Serve as TechAssure Chairman
Jun 15 2004 // David L. Schaefer, principal and vice president of Virginia-based Armfield, Harrison & Thomas (AH&T) was recently elected as chairman of TechAssure Association Inc. In his role as chairman, Schaefer will work...
Association Files Countersignature Suit in Puerto Rico
Jun 15 2004 // The Council of Insurance Agents & Brokers (CIAB) has filed suit against the Commonwealth of Puerto Rico challenging a statute that precludes non-resident insurance brokers from conducting business in Puerto Rico...
The Intersection of Privacy Legislation and Insurance Related Litigation
Jun 14 2004 // Privacy legislation has affected almost all consumers of goods and services in the United States. Most notably, the Gramm-Leach-Bliley Act (GLBA) passed by the federal government in November of 1999 sets forth a complex...
AWAC Opens New York Branch
Jun 10 2004 // Allied World Assurance Company (U.S.) Inc., a subsidiary of Bermuda-based Allied World Assurance Holdings, Ltd., announced the formation of a branch office in New York City. Initially, the new office will focus on...
Wellington to Acquire AXA’s U.S. Specialty Lines
Jun 9 2004 // London-based Wellington Underwriting plc, a major Lloyd’s underwriter, has announced plans for expansion into U.S. Specialty business through the proposed acquisition of AXA Corporate Solutions Excess and Surplus...
