Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Aon Unveils Two New Workers Comp Models for Earthquakes and Terrorism + James Bond
Nov 18 2002 // Aon Corp.’s subsidiary, Aon Re Inc., has unveiled two timely new models for workers’ compensation catastrophes. One covers all significant U.S. earthquake regions, and the second analyzes terrorism exposures...
AAI Tells Panel Opportunities Exist to Advance Asbestos Reform
Nov 15 2002 // Proponents of asbestos reform have a tremendous opportunity to make advances in many different arenas, Kenneth Schloman, Washington counsel for the Alliance of American Insurers, told participants of the sixth annual...
AIG’s American International Companies Unveils Workplace Violence Insurance
Nov 15 2002 // American International Group, Inc. (AIG) announced that the American International Companies have introduced Workplace Assurance(SM), an insurance coverage for the financial loss associated with incidents of violence in...
U.S. Risk Selects Thazar’s INSsight
Nov 12 2002 // Frisco, Texas-based Thazar, a Skywire Software company, announced today that U.S. Risk Insurance Group has selected the INSsight business intelligence and Executive Information System (EIS), which was designed exclusively...
5 Die in Ohio as Tornadoes Ravage U.S. Heartland
Nov 12 2002 // Five persons were reportedly killed by the tornadoes that struck Ohio on Sunday night and Monday morning. The storms were part of a system that caused waves of death and destruction throughout the U.S. heartland from...
Federal Terrorism Backstop a Good Public/Private Fit
Nov 11 2002 // Benjamin Franklin wore many hats: statesman, inventor, publisher—even firefighter. In fact, it was his experience fighting fires that made him realize the need to pool financial resources to protect properties and found...
Federal Terrorism Backstop a Good Public/Private Fit
Nov 11 2002 // Benjamin Franklin wore many hats: statesman, inventor, publisher—even firefighter. In fact, it was his experience fighting fires that made him realize the need to pool financial resources to protect properties and found...
S&P Cuts R&SA Group Ratings to ‘A-‘
Nov 8 2002 // Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on various operating entities of U.K.-based Royal & Sun Alliance...
Trenwick Reports $135 Million Q3 Operating Loss
Nov 8 2002 // Bermuda-based Trenwick Group Ltd. reported an operating loss of $135 million, or $3.67 per share, for the third quarter of 2002 and an operating loss of $142.6 million, or $3.88 per share for the first nine months of...
Aegon Q3 Net Drops 28% to $429 Million
Nov 8 2002 // Aegon NV, the Netherlands giant insurer and financial services group, beat analysts’ expectations for the third quarter as it recorded a net profit 429 million Euros [the Euro is currently trading at parity with the...
U.S.I. Holdings Appoints Robert Schneider EVP, Finance & Administration
Nov 7 2002 // U.S.I. Holdings Corporation announced that effective immediately, it has appointed Robert S. Schneider to the newly created position of executive vice president of Finance and Administration. Schneider will report directly...
R&SA Reports Improved 9 Month Earnings; A.M. Best Affirms ‘A-‘ (Excellent) Rating
Nov 7 2002 // The U.K.’s Royal & Sun Alliance Insurance Group plc reported that the Group’s combined operating result was $739 million for the first nine months of 2002, compared to $482 million for the same period in...
R&SA Announces Restructuring of U.S. Operations
Nov 7 2002 // The U.K.’s Royal & SunAlliance Group announced its nine month results today (see companion article in “International” section) and revealed plans to significantly restructure it U.S. operations. The...
Swiss Re’s Chief US Economist Comments on Fed’s Rate Reduction
Nov 7 2002 // Swiss Re’s chief US economist, Kurt Karl, stated that the Federal Reserve Board’s decision to lower the target federal funds rate to 1.25 percent from 1.75 percent was an attempt to “bolster the economy...
Asbestos Expert to Address ISOTech Conference Nov. 12
Nov 7 2002 // David Austern, president of Claims Resolution Management Corporation (CRMC), a pioneer in asbestos claims resolution, will discuss issues affecting the insurance industry regarding asbestos litigation Nov. 12 at the...
CNA Completes Sale of London Reinsurance Company
Nov 1 2002 // CNA Financial Corporation announced that it has completed the sale of its London reinsurance operation, CNA Reinsurance Company Limited (UK), to Tawa UK Ltd., a subsidiary of Artemis Group, the diversified French holding...
Moody’s Expecting Modest Losses for P/C Insurers’ Investment Portfolios
Nov 1 2002 // Moody’s reports that further decline is likely for many U.S. P/C insurers’ investment portfolios because of credit losses resulting from exposure to troubled companies. However, in the newly released report,...
IIABA: GLBA Does Not Preempt W. Va. Insurance Laws
Oct 31 2002 // The Independent Insurance Agents & Brokers of America (IIABA) and the state of West Virginia argued before a federal appeals court against a U.S. Office of the Comptroller of the Currency (OCC) opinion letter stating...
Trenwick to Cease Underwriting U.S. Specialty Program Insurance
Oct 31 2002 // Bermuda-based Trenwick Group Ltd. announced today that it will cease underwriting U.S. specialty program insurance business effective immediately. The news follows the announcement of an agreement to create an underwriting...
Trenwick to Halt Underwriting U.S. Specialty Program Insurance
Oct 30 2002 // Bermuda-based Trenwick Group Ltd. announced that it would cease underwriting its U.S. specialty program insurance business effective immediately. Operating under the name Canterbury Financial Group Inc. and through its...
