Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Majority of U.S. Insurers Reportedly Feel IT to Become More Important
Jun 4 2003 // Eighty-eight percent of insurers think that IT will become more important in driving efficiencies and cost-reductions in future, according to new research released by RebusIS, an insurance technology solutions provider. A...
U.S.I. Holdings Closes Acquisition of Hastings-Tapley
Jun 3 2003 // San Francisco-based U.S.I. Holdings Corporation announced that it has consummated the previously announced acquisition of all the issued and outstanding capital stock of Woburn, Mass.-based Hastings-Tapley Insurance Agency...
RMS Integrates New Hurricane Model With “RiskOnline” System
Jun 3 2003 // Newark Calif.-based Risk Management Solutions has taken another step in preparation for what experts are predicting will be an active hurricane season by integrating the third generation of its U.S. Hurricane model,...
Liberty Mutual to Acquire Majority of Prudential’s U.S. P/C Business
May 23 2003 // Boston-based Liberty Mutual Group has signed a definitive agreement to acquire Prudential Financial Inc.’s U.S. personal lines property/casualty operations in 47 states, excluding its New Jersey, specialty auto and...
R&SA Posts $156 Million Q1 Group Operating Profit
May 22 2003 // The U.K.’s Royal and Sun Alliance announced a first quarter group operating profit of £95 million ($156 million), calculated on the basis of revised investment assumptions introduced at the beginning of this year....
U.S. Risk Group Adds Keane as Executive VP
May 22 2003 // U.S. Risk Insurance Group announced the addition of John Keane as executive vice president of U.S. Risk Underwriters, Inc. Keane will be involved in many strategic and operational aspects of the company, including day to...
S&P Maintains CreditWatch on Australia/NZ Tower Ltd. Group
May 21 2003 // Standard & Poor’s Ratings Services announced that it is maintaining its CreditWatch with negative implications on various Australian and New Zealand subsidiaries of Tower Ltd. “following the profit warning...
AXIS Increases Capitalization of U.S. Subsidiary
May 20 2003 // AXIS Capital Holdings Limited (“AXIS”) announced that additional capital has been contributed to its subsidiary AXIS Reinsurance Company (“AXIS Re”), increasing AXIS Re’s policyholders’...
Insurance Losses From Tornadoes Could Be Most Costly Event Ever, Says I.I.I.
May 20 2003 // U.S. insurers have taken another hit these past few weeks as tornado season continues to wreak havoc on the nation. The tornadoes, which swept across parts of the U.S. from May 2-11, have the potential to be the costliest...
Aon Names D. Cameron Findlay General Counsel
May 20 2003 // Chicago-based Aon Corp. announced that D. Cameron Findlay, 43, currently the U.S. Deputy Secretary of Labor, will join the company as executive vice president and general counsel Aug. 1. Findlay will succeed Raymond I....
Allianz Shows Improvements, But Posts $593 Million Q1 Net Loss
May 16 2003 // Germany’s Allianz reported a first quarter net loss of 520 million euros ($593.06 million), mostly due to another series of writedowns in the value of its investments, but from an operating point of view...
A.M. Best: Asbestos Settlement Won’t Aid Ratings
May 15 2003 // Recent reports of a national, privately financed trust to pay asbestos claimants have raised questions about the insurance industry’s ability to fund its participation in a trust while maintaining individual...
U.S. Marine Insurers Continue Profitability in Highly Competitive Global Marketplace
May 15 2003 // U.S. ocean marine insurers reportedly continued to outperform the property/casualty business as a whole in 2002, but the market should not begin celebrating just yet, according to David French, chairman, American Institute...
Illinois Docs Rally, Urge U.S. Senate to Act
May 14 2003 // Thousands of patients, physicians and other supporters of medical liability reform gathered in Chicago’s Daley Plaza to urge federal lawmakers to fix an out-of-control legal system that is seriously threatening...
The St. Paul Cos. Acquires Renewal Rights for Selected Lines of Kemper’s U.S. Commercial Business
May 12 2003 // The St. Paul Companies has purchased the right to seek renewal of certain existing commercial insurance business written by the Kemper Insurance Companies in the United States. Under the agreement, The St. Paul will obtain...
Report Says U.S. Insurance Industry Loses $13.7B Annually Due to Auto Premium Rating Error
May 7 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...
Markel Outlook Positive
May 5 2003 // S&P’s revised its outlook on Markel Corp., Markel International Insurance Co. Ltd., and Markel’s U.S. insurance subsidiaries to positive from stable because of the historically strong underwriting results...
D&O LIABILITY COSTS UP AGAIN
May 5 2003 // Directors & Officers (D&O) liability insurance cost nearly 30 percent more in 2002, according to Tillinghast Towers Perrin’s 2002 Directors & Officers Liability Survey. The increase followed similar...
Full Speed Ahead
May 5 2003 // A year ago, Lloyd’s course was “steady as she goes,” following the enormous losses of Sept. 11, but with the appointment of a new chairman last November, Lord Peter Levene of Portsoken, coupled with a...
Study Says D&O Liability Premiums Soar, Shareholder Claims Increase
May 5 2003 // On the heels of similar increases from the previous year, purchasers of Directors & Officers (D&O) liability insurance paid nearly 30 percent more for their D&O coverage, according to Tillinghast Towers...
