Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
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...
Genesis Technology Group Signs Agreement With Chinese Insurance Broker
Feb 5 2003 // Florida-based Genesis Technology Group, Inc. (GETC) has announced the signing of an agreement with Shanghai Dongda Insurance Brokers Company, Limited (Dongda) in Shanghai, China, that provides for GTEC to represent Dongda...
AXIS to Acquire Renewal Rights to Kemper’s D&O Business
Jan 31 2003 // Bermuda-based AXIS Capital Holdings Limited and the Kemper Insurance Group announced that AXIS’ U.S. subsidiary has agreed to acquire the renewal rights to the D&O and related product lines written by...
AXIS to Purchase Renewal Rights to Kemper’s D&O Business
Jan 30 2003 // Bermuda-based AXIS Capital Holdings Limited announced that its U.S. subsidiary has agreed to acquire the renewal rights to the D&O and related product lines written by Kemper’s Financial Insurance Solutions...
Hub Int. Says Growth Plans Are Being Implemented Effectively
Jan 29 2003 // Chicago-based Hub International announced that it anticipates 2002 earnings per share will be in a range of US$1.04-1.06 per share, slightly higher than the US$1.03-1.05 estimate disclosed last month. The company also...
Crawford Reports Lowered Revenues for 4Q 2002
Jan 28 2003 // Atlanta’s Crawford & Company announced that fourth quarter 2002 revenues before reimbursements totaled $173.7 million, down from $178.1 million in the comparable 2001 period. Operating earnings (earnings before...
Risk Retention Groups Owning Up to Success
Jan 27 2003 // Due to the restricted coverages available in the market today, risk retention groups (RRGs) have experienced a significant amount of rapid growth over the past year. At a time when the industry is facing what is perhaps...
Bentley to Head Guy Carpenter’s US Broking Ops, Western Region
Jan 24 2003 // Guy Carpenter &. Company Inc. announced that Robert Bentley has been named regional manager of Broking Operations for the US Western Region at Guy Carpenter, which includes offices in Seattle, San Francisco, and Los...
AAI Says It Is Pleased with Third Interim Guidance on Terrorism Insurance
Jan 24 2003 // The Alliance of American Insurers (AAI) reports it is pleased with the U.S. Treasury Department’s third set of guidelines to help insurers comply with the Federal Terrorism Risk Insurance Act of 2002. Issued Jan. 22,...
Bushfires Ring Australian Capital: 4 Dead, 400 Homes Lost
Jan 20 2003 // Two months after the worst bushfires in 80 years caused extensive damage around Sydney, Australia’s largest city, the worst fires in 50 years have been ravaging the country’s capital, Canberra and its suburbs....
Lloyd’s Chairman Notes U.S. Premium Income Rises to New High of $8.2B
Jan 16 2003 // In his inaugural speech as Chairman of Lloyd’s of London, Lord Levene confirmed that the U.S. continues to be Lloyd’s largest single market accounting for approximately 40 percent of its business. He announced...
PartnerRe Appoints Jean-Marie Nessi Head of Non-U.S. Global P/C Business Unit
Jan 15 2003 // Bermuda-based PartnerRe Ltd. announced that Mr. Jean-Marie Nessi has been appointed Head of the Property & Casualty business unit for PartnerRe Global. He will report to Bruno Meyenhofer, CEO of PartnerRe...
AAI Disappointed with U.S. Supreme Court Ruling on Asbestos Liability Claims
Jan 14 2003 // The Alliance of American Insurers (AAI) says it is disappointed with Monday’s decision by the U.S. Supreme Court to reject an appeal that would have consolidated tens of thousands of asbestos liability claims into...
Rating Agencies Lower AXA’s U.S. Reinsurance Companies on Restructuring Plans
Jan 14 2003 // Yesterday’s announcement by France’s AXA Group that it would significantly curtail reinsurance operations in the U.S. (See IJ Website Jan.13) – ceasing both its financial guaranty reinsurance activities...
N. C. Plane Crash Likely to Cost Tens of Millions
Jan 13 2003 // Experts say the crash of a US Airways commuter flight in North Carolina will likely cost the insurance industry tens of millions of dollars, according to the Charlotte Observer, but it will probably not affect...
AXA Restructures Reinsurance Activities, Will Reduce U.S. Business
Jan 13 2003 // Philippe Donnet, the head of AXA Corporate Solutions in Paris, announced some major changes in the division, including a retreat from the U.S. market for financial guarantees and curtailing U.S. reinsurance operations. AXA...
ACE INA to Support Philadelphia Dance Company
Jan 13 2003 // The Philadelphia Dance Company (PHILADANCO) announced that it has received financial support from the ACE Group of insurance and reinsurance companies through the ACE INA Foundation, which is based in the city. The...
A.M. Best to Close Toronto Office, Consolidate Canadian Operations in U.S.
Jan 13 2003 // A.M. Best Co. announced that it will consolidate all Canadian operations previously conducted by its Toronto office into its corporate headquarters in Oldwick, New Jersey in what it termed an effort to “streamline...
Swiss Re Says Continued Emphasis on Underwriting Essential in ’03
Jan 13 2003 // At Swiss Re’s Year-End Economic and Insurance Industry Review 2002 and Outlook 2003, held mid-December 2002 New York, various speakers discussed the precarious situation most of the world’s major economies and...
Oxley Forecasts Insurance Issues Awaiting the 108th Congress
Jan 13 2003 // For more than a year, the issue of federal backstop legislation for terrorism risk has dominated Congress’ attention when it comes to insurance industry issues. Now that the Terrorism Risk Insurance Act has been...
