Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
AIA Issues Mixed Comment on Australia Trade Pact
Feb 11 2004 // According to the American Insurance Association the new U.S.-Australia free trade agreement will help encourage investment and cement an effective trade partnership even though it falls short of completely eliminating...
Chubb Establishes New Marine Operation
Feb 10 2004 // Chubb announced that it has established Chubb Marine Underwriters within its commercial insurance operation to provide marine products and services to the global insurance market. The new unit, headquartered in New York...
U.S. Senate Majority Leader Optimistic as 2004 Unfolds
Feb 9 2004 // He came to Washington, D.C., with a background steeped in medicine. U.S. Senate Majority Leader and Tennessee Republican Bill Frist has known first-hand the impact of the nation’s medical malpractice crisis and how...
Chubb Reports Q4 Net Income of $72.3 Million
Feb 5 2004 // The Chubb Corporation reported that net income in the fourth quarter of 2003 was $72.3 million or $0.38 per share, compared to net income of $56.6 million or $0.33 per share in the fourth quarter of 2002. Operating income,...
“2004 Will Be the Real Test” Lord Levene Tells Insurers
Feb 4 2004 // Lloyd’s Chairman Lord Peter Levene does not mince words. So, while he reflected on 2003 as a relatively benign, and for Lloyd’s a very profitable, year, his audience at a meeting of the City Forum in London sat...
Crawford Notes Q4 2003 Financial Numbers
Feb 3 2004 // Atlanta-based Crawford & Company announced its financial results for the fourth quarter ended Dec. 31, 2003. Fourth quarter 2003 revenues before reimbursements totaled $175.1 million compared with $173.7 million in...
S&P Foresees Conflict between U.S. Insurers, Reinsurers
Feb 3 2004 // According to a new report from Standard & Poor’s Ratings Services, “reinsurance companies are trailing U.S. insurers in their recognition of inadequate reserves, and as their backing turns to bad debt,...
William S. Cohen Elected to AIG Board
Feb 3 2004 // American International Group, Inc.’s Board of Directors announced the election of former United States Secretary of Defense and former United States Senator William S. Cohen as a Director. Cohen, 63, is currently...
Best Assigns ‘A-‘ Rating to Quanta U.S. Operations
Jan 29 2004 // A.M. Best Co. announced that it has assigned initial financial strength ratings of “A-” (Excellent) to Quanta Specialty Lines Insurance Company of Indianapolis, Ind. and Quanta Indemnity Company of Denver,...
Mass. Man Pleads Guilty to Insurance Fraud
Jan 29 2004 // The U.S. Attorney’s Office in Boston announced that “Anthony Snow, age 43, of 1810 Dorchester Avenue, Dorchester, Massachusetts, pleaded guilty before U.S. District Judge Patti B. Saris to an Information...
U.S.I. Names Philip E. Larson VP-Operations
Jan 28 2004 // New York-based U.S.I. Holdings Corporation, a leading distributor of insurance and financial products and services, announced that Philip E. Larson III has been appointed to the position of Vice President of Operations. He...
AIA Praises Costa Rican Trade Pact
Jan 27 2004 // The American Insurance Association applauded the adoption of a new free trade agreement with Costa Rica that will phase out one of the world’s last government monopolies and help insurance companies in the U.S. and...
D&O Liability Premiums Jump 33 Percent; Tillinghast Study Reports Hard Market is Stabilizing Despite Record Premiums
Jan 27 2004 // Directors and officers (D&O) liability insurance premiums grew approximately 33 percent on average from 2002 to 2003, according to the Tillinghast business of Towers Perrin’s 2003 Directors & Officers...
The Strange Saga of Near North National Group’s Michael Segal
Jan 26 2004 // Powerful Friends, Enemy Insiders and Embezzlement Charges We are destroyed as of today,” Michael Segal, owner of Chicago-based Near North National Group, told me several weeks ago in his 20th-floor office in the John...
Largest U.S. City and Home to Thousands of Fallen Heroes
Jan 26 2004 // The United States Census Bureau’s Census 2000 estimated the population of the State of New York at 18,976,457. Approximately 79 percent of the adult residents had graduated from high school and about 27 percent had...
Natural Disasters More Severe and More Costly
Jan 26 2004 // According to a recently released report from Munich Re, fatalities caused by natural catastrophes were up 450 percent in 2003, while insured losses reached $15 billion. More ominous was the reinsurer’s conclusion...
West Virginia Operating With Tort Reform Concerns
Jan 26 2004 // Like many other parts of the country, West Virginia is looking to answers to improve tort reform in the state. Recently, Insurance Journal Southeast spoke with Randy Cox, American Insurance Association West Virginia...
Allianz Global Risks US Insurance Co. Unveils Power Generation Unit
Jan 26 2004 // Allianz Global Risks US Insurance Company has launched a new business unit to provide property insurance to the U.S. power generation industry, including utilities and wholesale suppliers. The company is targeting large,...
Best Assigns ‘bbb’ Issuer Credit Rating to Assurant
Jan 26 2004 // A.M. Best Co. announced that it has assigned an issuer credit rating of “bbb” to Assurant, Inc. (currently Fortis, Inc.), the U.S. holding company of the Benelux-based Fortis Group. Fortis plans to sell 55...
The Strange Saga of Near North National Group’s Michael Segal
Jan 26 2004 // Powerful Friends, Enemy Insiders and Embezzlement Charges We are destroyed as of today,” Michael Segal, owner of Chicago-based Near North National Group, told me several weeks ago in his 20th-floor office in the John...
