Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
AIG Shocks the Industry with $1.8 Billion After-tax Reserve Strengthening
Feb 24 2003 // Neither the insurance industry nor the stock market was prepared for the announcement made by American International Group recently, that it would “incur a net, after tax charge of $1.8 billion in the fourth quarter...
AIG Shocks Industry with $1.8 Billion After-Tax Reserve Strengthening
Feb 24 2003 // Neither the insurance industry nor the stock market was prepared for the announcement made by American International Group on Feb. 3, that it would “incur a net, after tax charge of $1.8 billion in the fourth quarter...
Texas Versus New Jersey
Feb 24 2003 // Is Texas the next New Jersey? That was one of the many questions posed about the state by Robert Hartwig, chief economist for the Insurance Information Institute, at the 40th Annual Joe Vincent Management Seminar held by...
TORT COSTS ROSE IN 2001
Feb 24 2003 // The U.S. tort system cost $205 billion in 2001, or $721 per U.S. citizen, representing a 14.3 percent increase in tort costs since the year 2000, according to a study by Tillinghast- Towers Perin (Tillinghast) in...
Time to Jump on the Employee Benefits Bandwagon’
Feb 24 2003 // In some respects, the world of employee benefits seems to be on a roll. The Indepen-dent Insurance Agents & Brokers Association (IIABA) reports that about 26 percent of the U.S. agencies examined in its “2002...
Fla. Business Associations Demand a Fix for Medical Liability Problems
Feb 20 2003 // Florida’s top business associations demanded that state legislators fix the broken medical liability system, saying it is one of the key reasons healthcare costs are skyrocketing for employers and workers. According...
P/C Reserves in for Tighter Scrutiny
Feb 19 2003 // The property/casualty industry’s reserves will be scrutinized more closely, Fitch Ratings has announced. Specifically, Fitch’s analyses will target reserves from U.S. casualty business written between 1997 and...
RMS Launches 3rd Generation Earthquake Models For Western U.S.
Feb 14 2003 // Risk Management Solutions (RMS) announced the launch of new earthquake models for the western U.S. and western Canada. The models use the latest data on seismic risk from the U.S. Geological Survey (USGS) 2002 National...
Allstate Adjustor Found Guilty in Fraud Conspiracy
Feb 14 2003 // An insurance adjustor who allegedly defrauded Allstate Insurance Company and several Allstate-insured homeowners who suffered damages during the 1994 Northridge earthquake was recently convicted of federal fraud...
Rep. Pickering to Address Professional Agents in D.C. April 3
Feb 14 2003 // Rep. Charles “Chip” Pickering (R- Mississippi) will address members of the National Association of Professional Insurance Agents (PIA National) during the group’s annual Federal Legislative Summit April...
RMS Unveils First Hurricane Model to Include Effects of Extratropical Transition
Feb 13 2003 // Risk Management Solutions (www.rms.com), a provider of products and services for the management of catastrophe risk, has launched the third generation of its U.S. Hurricane model, the first such model to fully represent...
Tillinghast Study Reports U.S. Tort Costs Jumped to $205B in 2001
Feb 12 2003 // The U.S. tort system cost $205 billion in 2001, or $721 per U.S. citizen, representing a 14.3 percent increase in tort costs since the year 2000, according to a study by Tillinghast- Towers Perin (Tillinghast) in U.S. Tort...
Converium Posts $106.8 Million Net Profit in 2002
Feb 11 2003 // The Swiss-based Converium Group, a leading global reinsurer, reported a very successful 2002, with pre-tax operating income of $67.7 million, an increase of $528.8 million compared to a pre-tax operating loss of $ 461.1...
Exclusive Agents Feel the Squeeze
Feb 10 2003 // The times they are a’changin’.” Bob Dylan’s 60’s refrain could be the theme song for a new spirit moving through the ranks of the insurance industry’s exclusive (captive) agents. The...
Commercial Lines Auto: A Sleeping Giant Awakens
Feb 10 2003 // The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was...
P/C Pricing Growth Fastest Since 1986, New York Analysts Told
Feb 10 2003 // The property and casualty industry is well into a rebound from the terrorist attacks of Sept. 11, 2001, with premiums increasing aggressively for more than a year, a trend that will certainly continue throughout 2003 and...
U.S. Supreme Court to Review Campbell Decision
Feb 10 2003 // In December 2002 the U.S. Supreme Court heard arguments in the case of Campbell vs. State Farm. Four of the justices voted to hear the case. They will render their decision by the end of the current term in June, and a lot...
Commercial Lines Auto: A Sleeping Giant Awakens
Feb 10 2003 // The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was...
Exclusive Agents Feel the Squeeze
Feb 10 2003 // The times they are a’changin’.” Bob Dylan’s 60’s refrain could be the theme song for a new spirit moving through the ranks of the insurance industry’s exclusive (captive) agents. The...
U.S. House Introduces BiPartisan Health Act of 2003
Feb 7 2003 // House Policy Chairman Christopher Cox (R-Calif.) and Energy and Commerce Subcommittee on Oversight and Investigations Chairman James Greenwood (R-Pa.), Thursday reintroduced the Greenwood-Cox HEALTH Act, a bipartisan bill...
