Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Swiss Re Economists Say U.S. Economy Entering Slow Patch, Industry Looking At Prolonged Hard Market
Jun 25 2003 // Swiss Re’s Chief Economist said on Wednesday that the U.S. economy is growing slowly – weakness consistent with a Fed cut later today – but will grow more rapidly in the second half of the...
AIA In Support of Mandatory Arbitration to Hold Down Litigation Costs
Jun 24 2003 // In testimony over the weekend during the National Association of Insurance Commissioner’s (NAIC) summer meeting, the American Insurance Association (AIA) supported the continued availability of mandatory pre-dispute...
Industry Reacts to Calif. Holocaust-era Decision
Jun 24 2003 // California Insurance Commissioner John Garamendi released the following statement regarding the United States Supreme Court’s decision to defeat a California law required insurance companies to provide information...
S&P Lowers Aviva’s Canadian Subs to ‘A’
Jun 24 2003 // Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and financial strength ratings on the primary operating subsidiaries of Toronto, Ontario-based Aviva Canada Inc....
U.S. Supreme Court Defeats Holocaust Law
Jun 23 2003 // The U.S. Supreme Court today defeated a California law that required insurance companies to provide information about all of their Holocaust-era policies. In a 5-4 vote, the high court decided that California’s...
S&P: Commercial Lines Outlook Still Negative
Jun 23 2003 // NEW YORK – Two years into the hardest market in decades, the insurance business is still paying the price for the “irrational exuberance” of its recent years, in the words of Robert Partridge, a Managing...
Minority and Women Agents Look to Tap Emerging Markets
Jun 23 2003 // Insurance is about numbers, and right now the numbers are depressing when it comes to minority and women agents in the business. In spite of the tremendous growth of minority populations in the United States and the...
S&P: Commercial Lines Outlook Still Negative
Jun 23 2003 // Two years into the hardest market in decades, the insurance business is still paying the price for the “irrational exuberance” of its recent years, in the words of Robert Partridge, a managing director at...
Minority and Women Agents Look to Tap Emerging Markets
Jun 23 2003 // Insurance is about numbers, and right now the numbers are depressing when it comes to minority and women agents in the business. In spite of the tremendous growth of minority populations in the United States and the...
Lloyd’s “Has Been a Beacon of Light” Lord Levene Tells Members at AGM
Jun 19 2003 // Lloyd’s Chairman, Lord Peter Levene, told Members attending its Annual General Meeting yesterday, that “Lloyd’s has been a beacon of light. We have defied the doomsayers. And we have done more than that:...
Harvard Medical, Swiss Re Tell Congress Risks of Global Warming “Are Here Already”
Jun 19 2003 // Experts from the Harvard Medical School and Swiss Re briefed members of Congress yesterday on what they see as the current effects of global warming, indicating that it’s no longer “a hypothetical concern for...
AAI Lauds U.S. House Passage of “Class Action Fairness Act”
Jun 13 2003 // The Alliance of American Insurers (AAI) is commending the House of Representatives for approving the “Class Action Fairness Act” (H.R. 1115). The Senate Judiciary Committee approved a similar bill (S. 274)...
Lloyd’s Equitas Reports Fiscal Year Results
Jun 13 2003 // Equitas, the runoff vehicle established by Lloyd’s in 1996 to handle claims liabilities prior to 1992, principally asbestos and environmental claims, announced decreases in its reserves for the fiscal year ended 31...
Hub International Completes Private Debt Offering
Jun 12 2003 // Hub International Limited (NYSE:HBG) and (TSX:HBG) announced today that it has completed a private placement of US$65,000,000 in principal amount of unsecured senior notes. The senior notes have been issued in two series:...
Associations Tell NAIC Not to Reduce Collateral, Requirements for Alien Reinsurers
Jun 11 2003 // The four property/casualty trade associations, joined by a workers’ compensation and a reinsurance association, have joined together to ask the National Association of Insurance Commissioners (NAIC) to reject any...
Royal & SunAlliance Sells RSUI to Alleghany
Jun 10 2003 // Royal & SunAlliance USA announced the sale of Royal Specialty Underwriting Inc. (RSUI), its Atlanta-based excess and surplus lines business, to Alleghany Insurance Holdings LLC, a subsidiary of Alleghany Corp., for...
R&SA to Sell U.S. Surplus Lines to Alleghany
Jun 9 2003 // The U.K.’s Royal & SunAlliance announced today that it has agreed to sell Royal Specialty Underwriting, Inc. (RSUI), its U.S. surplus lines division, to Alleghany Insurance Holdings LLC for “around £72...
REPORT SAYS U.S. INSURANCE INDUSTRY LOSES $13.7B ANNUALLY DUE TO AUTO PREMIUM RATING ERROR:
Jun 9 2003 // Quality Planning Corporation (QPC), the Rating Integrity Solutions Company, released its annual Premium Rating Error report, detailing just how much often-overlooked premium rating errors diminish the overall profits of...
Execs Talk Future of Industry at 9th Annual ITC Forum
Jun 9 2003 // “Amateur hour is over.” Those were the words of the Sullivan Group president Gerald J. Sullivan, addressing a roomful of industry executives recently at the 9th Annual Insuring the Children Forum....
Arch Names Ralph E. Jones III President and CEO of U.S. Division
Jun 5 2003 // The Bermuda-based Arch Capital Group Ltd. announced that, Ralph E. Jones III will join the company as President and CEO of Arch Insurance Group, a division of Arch Capital, effective July 1, 2003. Jones will assume...
