Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Hiscox Launches New System for U.S. Terrorism Insurance
Oct 14 2002 // London-based Hiscox Plc, which operates in both the Lloyd’s and specialty lines markets, announced the launch of a unique broker “extranet system” to provide solutions for U.S. clients requiring terrorism...
House Subcommittee Explores Use of Capital Markets to Spread Catastrophe Risk
Oct 11 2002 // The House Financial Services Oversight and Investigations Subcommittee is exploring the expanded use of capital markets to spread the financial risk from future catastrophic losses. At a hearing this week, the Subcommittee...
Investigators Confirm French Supertanker Was Hit by Terrorist Attack
Oct 11 2002 // An official bulletin from the French Foreign Ministry confirmed that a team of French and U.S. investigators had found definitive evidence that the explosion and fire that engulfed the supertanker Limburg in the Gulf of...
Suspended La. Commissioner Told to Report to Jail
Oct 4 2002 // A federal judge ordered suspended Louisiana Insurance Commissioner Jim Brown to report to federal prison Oct. 15 to begin serving his six month sentence for allegedly lying to a federal agent. The judge made the order two...
Assurant Group to Build New Operations Center in Canada
Oct 4 2002 // Assurant Group, a provider of specialty risk management programs for the financial services industry, and the Kingston Economic Development Corporation have announced plans for Assurant to build a new operations center in...
Hartford FSG Enters Into Alliance with ACE
Oct 2 2002 // The Hartford Financial Services Group has entered into a strategic alliance with ACE American Insurance Company, one of the ACE Group of Companies, to provide The Hartford’s U.S.-based business customers with...
AAI Encouraged by President’s Stance on Terrorism Legislation
Oct 2 2002 // The Alliance of American Insurers reports it was encouraged by President George W. Bush’s strong stance on the need for federal terrorism insurance legislation earlier this week. “President Bush painted a very...
IIABA Pens Letter to U.S. Senate Chairman to Commend Pursuit of Terrorism Reinsurance Legislation
Oct 1 2002 // In a letter to the United States Senate and Chairman Paul Sarbanes, the Independent Insurance Agents & Brokers of America (IIABA) is commending the Chairman in seeking a quick resolution to the present terrorism...
Royal & Sun Alliance Ratings Lowered
Sep 30 2002 // A.M. Best Co. lowered the financial strength rating to “A-” from “A” of Royal & Sun Alliance Insurance Group plc (R&SA), United Kingdom, and its core subsidiaries. Concurrently, it...
The State of the Surplus Lines Market with Michael J. Hall
Sep 30 2002 // Insurance Journal publisher Mark Wells recently spoke with Michael J. Hall, chairman of M.J. Hall & Company Inc. and president of Golden Bear Insurance Company, both headquartered out of Stockton, Calif. Hall shared...
Royal & Sun Alliance Ratings Lowered
Sep 30 2002 // A.M. Best Co. lowered the financial strength rating to “A-” from “A” of Royal & Sun Alliance Insurance Group plc (R&SA), U.K., and its core subsidiaries. Concurrently, it downgraded the...
Court Rejects Generali, Zurich Life Contentions in Holocaust Claims Lawsuit
Sep 26 2002 // A federal court in New York has ruled that a lawsuit brought by Holocaust victims and their families against Italian insurer Generali and Switzerland’s Zurich Life Insurance Co. can go forward in the U.S. court. The...
NAII Says Federal Case Threatens Insurers’ Ability to Use Credit Information
Sep 26 2002 // A U.S. District Court ruling in a federal class-action lawsuit challenging Allstate Insurance Company’s use of credit data in underwriting and rating policies should be reversed because the suit distorts the...
Isidore Turns North, Threatens U.S. Gulf Coast
Sep 25 2002 // Hurricane Isidore, which has been downgraded to a tropical storm, is currently over the Gulf of Mexico, but its on track to hit the U.S. somewhere between Florida and Texas as early as tomorrow night. After causing...
Converium Makes Management Changes at U.S. Unit
Sep 24 2002 // Converium Reinsurance (North America) Inc., the New York-based unit of Swiss reinsurer Converium Group, announced several new appointments and changes to its organization. Paul Braithwaite, chief actuary and chief...
EU, China Plan to End Airline Insurance Next Month
Sep 24 2002 // The European Union plans to to end the emergency coverage it has granted to the community’s airline’s for terrorist liability by the end of October, while China’s government announced that it would extend...
A.M. Best Affirms Allianz ‘A++’ (Superior) Ratings, Puts U.S. Subs “Under Review”
Sep 23 2002 // A.M. Best Co. announced that while it has affirmed the financial strength rating of A++ (Superior) of Allianz Ag and its core entities, it has assigned them a “negative outlook,” and has placed Allianz’...
AIR Releases Climate Forecasts for Winter Season
Sep 23 2002 // AIR Worldwide Corporation (AIR), a provider in catastrophe modeling and weather risk management, has released its ClimateCast™ forecasts through March 2003, encompassing the heart of the winter season. The heating season...
RMS Unveils Game Theory-Based Terrorism Risk Model
Sep 19 2002 // Risk Management Solutions (RMS), has launched its U.S. Terrorism Risk model, a model designed to assist property, workers’ compensation, and life insurers and reinsurers in quantifying the risk from catastrophic...
AEGON Places 350 Million Shares for Sale at €10
Sep 18 2002 // The Netherlands insurer and financial services company AEGON N.V. and its largest shareholder Vereniging AEGON (the “Association”) announced the placement of 350 million existing AEGON common shares at an...
