Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Risk Management Solutions Predicts Hurricane Activity to Increase Losses by 40 Percent in Florida and Gulf Coast
Mar 23 2006 // Risk Management Solutions, Newark, Calif., expects increases in hurricane landfall frequencies will increase modeled annualized insurance losses by 40 percent on average across the Gulf Coast, Florida and the Southeast,...
Aon/Albert G. Ruben Map Details Risks to Overseas Filmmaking
Mar 23 2006 // “Disease, kidnap and ransom, and terrorism risks pose the greatest threat to global filmmaking,” according to the 2006 Risks in Global Filmmaking Map published today by Aon/Albert G. Ruben. Aon’s bulletin...
R&SA’s U.S. Operations Ratings Cut To ‘BB’; Outlook Negative
Mar 23 2006 // Standard & Poor’s Ratings Services has lowered its counterparty credit and insurer financial strength ratings on Royal & Sun Alliance Insurance Group PLC’s U.S. insurance operations to...
‘Long Overdue’ Northeast Warned to Prepare for ‘Historic’ Weather Disaster This Year
Mar 22 2006 // The northeast U.S. coast could be the target of a major hurricane, perhaps as early as this season, according to the AccuWeather.com Hurricane Center. The weather experts say this year could bring the Northeast a storm...
Best Affirms R&SA’s Ratings; Revises Outlook to Stable
Mar 21 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of the U.K.’s Royal & Sun Alliance Insurance...
U.S. Supreme Court nixes ethics challenge to State Farm ruling
Mar 20 2006 // The Supreme Court has refused to consider whether a top judge in Illinois improperly voted to throw out a $1 billion judgment against State Farm Insurance Co. after accepting campaign donations from company lawyers and...
Cat Commercial Product Launched in Southeast States
Mar 20 2006 // In response to unmet capacity needs created by the devastating natural disasters of 2005, International Catastrophe Insurance Managers, LLC (ICAT), and National Fire and Marine Insurance Company (Berkshire Hathaway Group)...
Beazley Commercial Property Team Expands In U.S.
Mar 20 2006 // Beazley announced it has hired two senior underwriters to assist with the company’s U.S. operations mid market commercial property business a focus. Todd Hanes joins Beazley as the West Coast regional underwriting...
People and Places
Mar 20 2006 // Lloyd’s of London has selected an insurance outsider, Richard Ward, former head of the London-based International Petroleum Exchange, as its new chief executive officer. He spent six years as CEO of IPE, which has...
Zurich, 9 States Settle Bid-Rigging Case for $171 Million
Mar 19 2006 // Texas Attorney General Greg Abbott reported that Texas and eight other states have reached a $171 million settlement with Zurich American Insurance Co. relating to bid-rigging and price-fixing in the commercial insurance...
US Airways can’t collect for 9/11 disruption, court rules
Mar 19 2006 // US Airways cannot collect insurance for post-9/11 business losses because it already received money for that purpose from the federal government, the Virginia Supreme Court ruled March 3, according to an Associate Press...
XL Re Life Enters the U.S. Life Reinsurance Market
Mar 17 2006 // XL Re Life has acquired Servus Life Insurance Company, expanding its U.S. life reinsurance market. Servus Life will be renamed XL Re Life America Inc. following state regulatory approvals. XL Re Life America Inc. will...
ICAT, National Fire and Marine Launch New Catastrophe Product
Mar 16 2006 // In response to unmet capacity needs created by the devastating natural disasters of 2005, International Catastrophe Insurance Managers, LLC (ICAT), and National Fire and Marine Insurance Company (Berkshire Hathaway Group)...
Hiscox Launches New U.S. Operation
Mar 15 2006 // Hiscox plc, a provider of specialty insurance based in the U.K., has opened a new U.S.-based underwriting operation offering cover for small and mid-size US professional service businesses outside the Fortune 1000. Hiscox...
Regulators Establish Task Force on Climate Change
Mar 14 2006 // The National Association of Insurance Commissioners (NAIC) voted unanimously last week at its quarterly meeting in Orlando, Fla., to establish a task force to examine the impact of climate change on the U.S. insurance...
Cornerstone Appraisal Services and MSB Form Strategic Alliance
Mar 14 2006 // High value home inspection vendor joins forces with MSB Valparaiso, Indiana and Los Angeles – Cornerstone Appraisal Services (Cornerstone) and Marshall & Swift / Boeckh (MSB), an MDA company, are pleased to...
Tillinghast Study: U.S. Tort Costs Reach a Record $260 Billion
Mar 13 2006 // U.S. tort costs reached a record $260 billion in 2004, or approximately $886 per person, according to the U.S. Tort Costs and Cross-Border Perspectives: 2005 Update from the Tillinghast business of Towers Perrin. This...
At Congressional Silicosis Hearing, Doctors Refuse to Testify on Diagnoses
Mar 12 2006 // Three physicians who looked at thousands of X-rays and saw an epidemic of silicosis that no one else noticed took the protections of the Fifth Amendment rather than tell Congress about their work or the money they made...
Three Promotions Announced by Winterthur U.S. Holdings Inc.
Mar 10 2006 // Three employees were recently promoted at Winterthur U.S. Holdings Inc., parent company of regional property and casualty insurers General Casualty, Sun Prairie, Wis. and Unigard, Bellevue, Wash. Geoff Barker was named...
R&SA 2005 Operating Profits Soar 171% to $1.215 Billion
Mar 10 2006 // The restructuring efforts at the U.K.’s Royal & SunAlliance paid off handsomely in 2005. The Group reported a 171 percent increase in operating profits to £698 million ($1.215 billion), compared to £258...
