Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Swiss Re Launches U.S. Agency Umbrella E&O Coverage
Aug 13 2008 // Swiss Re’s Commercial Insurance group has introduced Errors and Omissions (E&O) agency umbrella coverage in all 50 states and the District of Columbia. “The insurance policy offering was developed in...
Harris County D.A. Considers Criminal Charges Against Bus Owner
Aug 13 2008 // Criminal charges were being considered against a Houston motorcoach owner and president whose bus crashed in north Texas killing 17 Vietnamese Catholics on their way to a religious festival in Missouri, according to a...
Catlin Posts 21% Decline in First Half Net Income; GPW Top $2 Billion
Aug 11 2008 // The Bermuda-based Catlin Group Limited posted mixed financial results for the first half of 2008. While gross written premiums were up four percent to $2.075 billion, net income before taxes for the period declined by 21...
Whittington Completes Sale of Americas Insurance to ISG Acquisition
Aug 11 2008 // The Singapore-based Whittington Group announced that it has completed the sale of Americas Insurance Company, its non-core US insurer in run-off, to ISG Acquisition II LLC, the specialist acquisition arm of Independent...
Argo Group Bucks the Trend as Q2, H1 Net Income Increases
Aug 11 2008 // The Bermuda-based Argo International Holdings, Ltd. (The successor to Argonaut Insurance) announced comparatively good financial results for the three and six months ended June 30, 2008. Net income for the second quarter...
Kingsway’s Q2 Net Income Rebounds from Q1 Loss to $6.3 Million
Aug 11 2008 // Kingsway Financial Services Inc. announced financial results (in U.S. dollars) for the second quarter ended June 30, 2008 that rebounded from a first quarter loss. The Company reported net income of $6.3 million or $0.11...
FM Global: Companies Exposed but Underprepared for Natural Disasters
Aug 8 2008 // Most of the largest corporations in North America are exposed to natural disasters, but many are not well-prepared for such catastrophes and are not overly concerned about the potential business impact, according to a new...
Credit Crunch Cripples European Insurers’ Profits
Aug 7 2008 // The global credit crisis tore a hole in the profits of some of Europe’s top insurers on Thursday, with AXA and Aegon both posting lower earnings. Share reactions were mixed across Europe. The DJ Stoxx European...
Feds Charge 11 in Biggest-Ever Identity Theft Case
Aug 7 2008 // Authorities in Boston have cracked what is believed to be the largest federal hacking and identity theft case ever, involving the theft and sale of more than 41 million credit and debit card numbers. Eleven people,...
U.S. Attorney Says Okla.’s Stipe Illegally Ran Insurance Company
Aug 7 2008 // U.S. Attorney Sheldon Sperling has filed a complaint against former Oklahoma State Sen. Gene Stipe accusing him of illegally running an insurance company. Stipe pleaded guilty in 2004 of perjury, conspiracy to obstruct a...
Best Affirms Tokio Marine/Nichido Fire ‘A++’ Ratings
Aug 7 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and the issuer credit rating (ICR) of “aa+” of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) with a...
Aon Launches ‘Green Building Property Program’
Aug 7 2008 // Aon Corporation has launched the “Aon Green Building Property Program,” which it describes as the “industry’s most comprehensive insurance solution to facilitate environmentally friendly and...
Tokio Millennium Re to Use AIR’s U.S. Crop Model
Aug 5 2008 // AIR Worldwide Corporation announced that Bermuda-based reinsurer Tokio Millennium Re Ltd. has licensed the use of AIR’s Multiple Peril Crop Insurance (MPCI) model for use in AIR’s CATRADER® system, which...
Storm Edouard Shuts Gulf Coast Oil Port, Disrupts Shipping
Aug 4 2008 // Tropical Storm Edouard forced shut a huge U.S. offshore oil port, a refinery, some oil production and disrupted shipping as the storm raced toward the Texas-Louisiana coast Monday. Energy companies evacuated staff from...
Business Moves
Aug 4 2008 // Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty...
Mid-Year 2008: Securities Lawsuit Filings Remain Up
Aug 4 2008 // Subprime and Credit Crisis Filings Show No Sign of Abating Is litigation stemming from the subprime- and credit crisis-related activity increasing directors’ and officers’ insurance premiums? Despite the steady...
Road Danger: Thousands of Medically Unfit Commercial Drivers Still Trucking on U.S. Roads
Aug 4 2008 // Hundreds of thousands of tractor-trailer and bus drivers in the United States carry commercial driver’s licenses despite also qualifying for full federal disability payments, and some of those drivers have suffered...
Alabama Insurance Agent Parker Wins Republican Runoff
Aug 4 2008 // Huntsville insurance agent Wayne Parker won the Republican nomination for an open U.S. House seat in Alabama. In the 5th District in north Alabama, Parker received 79 percent to 21 percent for Huntsville lawyer Cheryl...
Business Moves
Aug 4 2008 // Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty...
El Paso Woman Pleads Guilty to Embezzling Nearly $1M from Insurer
Aug 4 2008 // An El Paso, Texas, woman faces up to 20 years in prison and repaying $940,000 to an insurance company where she worked. United States Attorney Johnny Sutton said 42 year-old Olivia Enriquez pleaded guilty on July 23 to one...
