Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
U.S. P/C Rates Still Increasing
May 27 2002 // Although the events of Sept. 11 accelerated the increase in U.S. commercial real estate insurance premiums, property and casualty insurance costs had already begun rising in 2000, independent of terrorism-coverage costs,...
AAI Urging Senate Leadership to Take Action on Terrorism Bill
May 24 2002 // The Alliance of American Insurers has written to U.S. Senate Majority Leader Thomas Daschle (D-SD) and Minority Leader Trent Lott (R-MS) urging prompt consideration of the terrorism insurance bill, given the recent...
NAIC, Chinese Regulators to Cooperate as Insurance Ties with China Expand
May 24 2002 // Recent moves have confirmed the reality of the expanding Chinese insurance market. They include an agreement between U.S. and Chinese regulators to share information; an announcement that AIG has been granted a first ever...
S&P Affirms Everest Re (U.S.) ‘A-‘ Rating, Outlook Positive
May 21 2002 // Standard & Poor’s said that it has affirmed its single-‘A’-minus counterparty credit and senior debt ratings on U.S.-based Everest Reinsurance Holdings Inc., an intermediary holding company that is...
Standard and Poor’s: U.S. P/C Insurance Rates to Continue Increase on Renewals
May 17 2002 // While the events of Sept. 11 accelerated the increase in U.S. commercial real estate insurance premiums, property and casualty insurance costs had already begun rising in 2000, independent of terrorism-coverage costs,...
Credit Lyonnais Suit Dismissed by Federal Judge
May 13 2002 // A federal judge has thrown out a lawsuit alleging that Credit Lyonnais and others engaged in fraudulent activity in the 1993 acquisition of the assets of the futile Executive Life Insurance Co, according to the Los Angeles...
Insurance Industry Posts Strong Q1 Gains HOW REAL ARE THEY’
May 13 2002 // After suffering its first ever net loss in 2001,an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of 2002...
MONTEMAYOR MAY GO TO U.S. TREASURY
May 13 2002 // Texas Insurance Commissioner Jose Montemayor is in the running for a high-level job in the U.S. Treasury Department, according to a report in the Austin American Statesman. Montemayor indicated that if selected by the Bush...
Terrorism Insurance Still on Front Burner for Insurers, Lawmakers
May 13 2002 // Amid heavy lobbying on the part of financial lenders, insurers, real estate executives and even President Bush, the Democrats and Republicans in the Senate seem to have come to agreement that there is need for some kind of...
Insurance Industry Posts Strong Q1 Gains
May 13 2002 // After suffering its first ever net loss in 2001, an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of...
Royal and Sun Alliance Insurance Group Matches 2001 1stQ Results
May 10 2002 // Royal & Sun Alliance Insurance Group plc, the parent of Royal & SunAlliance USA, reported a solid first-quarter operating result of $227 million, matching last year’s Q1 result of $231 million (160 million...
AAI Points to U.S. Congress JEC Study
May 8 2002 // The Alliance of American Insurers has pointed to the U.S. Congress Joint Economic Committee’s (JEC) new study The Economic Costs of Terrorism, as further evidence that federal terrorism reinsurance legislation is...
ING Restructures U.S. Asset Management Operations; Announces Joint Venture with ANZ
May 3 2002 // Holland’s ING Group announced that it is combining parts of its U.S. asset management businesses, including the ING Aeltus Group, into ING Investment Management (IIM), its global asset management group, and is...
IIC Award-Winner Warns: Terrorism Cover No Panacea, U.S. Regulation Out of Step
May 3 2002 // New York—The insurance business needs help in the form of terrorism coverage, but it’s no panacea, warns Robert V. Mendelsohn, the American Chief Executive of London-based Royal & Sun Alliance Insurance...
Lloyd’s Riley Urges Passage of Terrorist Insurance Bill
May 2 2002 // Following recent meetings with policy makers in Washington D.C., Lloyd’s Chairman Sax Riley issued a statement urging U.S. lawmakers to pass the stalled terrorist coverage bill. “Lloyd’s was one of the...
News Analysis: Commentary on Full Year 2001
Apr 29 2002 // The property/casualty insurance industry reported a statutory rate of return of negative 2.7 percent in 2001, down from 6.5 percent return for the year 2000. The results were released by the Insurance Services Office, Inc....
Business Auto
Apr 29 2002 // Nuts & Bolts: Mexipass is offering a business auto program designed to provide business auto coverage in Mexico for commercial vehicles registered in the U.S. and owned by American companies or U.S. residents, while...
Terrorism
Apr 29 2002 // Nuts & Bolts: ACE USA is offering a specialist solution to several specific industry classes with a shortage of terrorism related insurance capacity. The ACE terrorism insurance product is focused on U.S. and Canadian...
Business Auto – Mexico
Apr 29 2002 // Nuts & Bolts: Mexipass is offering a business auto program for U.S. vehicles in Mexico, targeted toward commercial vehicles registered in the U.S. and owned by U.S. companies or U.S. residents. Provides the same...
U.S. Regulators Give Approval on Lloyd’s Estimate
Apr 18 2002 // Following the initial portion of a review of the market, U.S. regulators have given Lloyd’s of London approval on the company’s estimate of $8 billion for gross claims in the Sept. 11 destruction of the World...
