Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
S&P Reports on U.S. P/C Industry Financial Condition
May 11 2004 // Standard & Poor’s Credit Market Services has issued a report on the U.S. P/C industry, which notes that the rating agency is maintaining its negative rating outlook on this sector of the commercial insurance...
Physician Group’s Study Claims Cost to Society of Lack of Health Insurance in U.S. Tops $100 Billion
May 11 2004 // The cost to society of Americans living without health insurance could run into hundreds of billions of dollars, according to a new report released by the American College of Physicians (ACP). ACP’s The Cost of Lack...
Asbestos Negotiations Die in U.S. Senate
May 10 2004 // The Senate was unsuccessful in keeping negotiations alive at creating a federally run asbestos trust fund (S. 2290) to compensate victims of asbestos diseases. Talks ended when parties mutually agreed to disagree over how...
Questions of Coverage for Terrorism
May 6 2004 // It seems like almost every day there is a major news story concerning a terrorist act in the Middle East, Europe, or Asia. While the United States has been largely immune to the almost daily attacks of domestic terrorism...
AXIS Reports Record $166.8 Million Q1 Net
May 4 2004 // Bermuda-based AXIS Capital Holdings Limited reported a 56 percent increase in net income for the quarter ended March 31, 2004 to $166.8 million, or $1.00 per diluted share, from $107.1 million, or $0.75 per diluted share,...
Slave Trade Suit Targets Lloyd’s, U.S. Companies
May 3 2004 // International News • March 30 “These parties obviously want to bring a reparations test case. I think the courts will continue to resist cases in which principals are deceased. All of our descendants were abused by...
Slave Trade Suit Targets Lloyd’s, U.S. Companies
May 3 2004 // International News • March 30 “These parties obviously want to bring a reparations test case. I think the courts will continue to resist cases in which principals are deceased. All of our descendants were abused by...
Reports Find Wide Range of Auto Rates Across U.S.
May 3 2004 // Two recently released studies on automobile insurance rates show a wide variation in costs across the nation. They also seem to show a big discrepancy in their findings. It turns out, however, that al-though they’re...
CIAB PROCEEDS TO DISMISS W. VA. LAWSUIT AFTER STATE’S DECISION:
May 3 2004 // The Council of Insurance Agents & Brokers (CIAB) reported it would dismiss its federal lawsuit challenging West Virginia’s counter-signature requirements for out-of-state insurance brokers because the state has...
GOP INTRODUCES ASBESTOS LITIGATION REFORM IN U.S. SENATE:
May 3 2004 // Asbestos litigation reform legislation introduced recently by U.S. Senate Majority Leader Bill Frist (R-Tenn.) and Senate Judiciary Committee Chairman Orrin Hatch (R-Utah) represents a significant step forward in the...
GAO Study Finds Unauthorized Health Insurers Piled Up $252M in Unpaid Claims
May 3 2004 // A study conducted by the U.S. General Accounting Office (GAO), released at the end of February, found that unauthorized health insurers are costing workers significant amounts in unpaid benefits. The entities surveyed, who...
People and Places
May 3 2004 // The Texas Windstorm Insurance Association (TWIA) and the Texas FAIR Plan announced the election of new officers. Craig Nadziejka The Association Governing Committee named Craig Nadziejka as chairman of the Board, James...
Slave Trade Suit Targets Lloyd’s, U.S. Companies
May 3 2004 // International News • March 30 “These parties obviously want to bring a reparations test case. I think the courts will continue to resist cases in which principals are deceased. All of our descendants were abused by...
Converium Reports Record $65.7 Million Q1 Net
Apr 30 2004 // Swiss-based Converium reported its “best quarter operating income so far,” with $77.2 million, up 192.4 percent, and net earnings of $65.7 million, up 157.6 percent. Other highlights cited by the world’s...
U.S. Treasury Department Selects Benfield’s Paragon to Administer Terrorism Risk Insurance Program
Apr 29 2004 // Independent reinsurance intermediary Benfield announced that the U.S. Treasury Department has selected its subsidiary, Paragon Strategic Solutions Inc., a provider of reinsurance administration and asset recovery services,...
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...
