Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Lloyd’s Welcomes NAIC Review of U. S. Collateral Requirements
Mar 10 2006 // Lloyd’s Chairman Lord Peter Levene may finally get his wish, as U.S. insurance regulators have instructed a National Association of Insurance Commissioners (NAIC) task force to examine options for a reform of the...
U.K.’s Catlin Group Appoints Banas President, CEO of New U.S. Company
Mar 10 2006 // The U.K.’s Catlin Group reported from its Bermuda operations center that Richard Banas has been appointed as president and CEO of Catlin Inc., the Group’s new U.S. subsidiary. “Rich Banas will be...
Regulatory Risks Burdensome for U.S. Firms Abroad, Aon Experts Say
Mar 10 2006 // What impact will DP World’s decision to drop its plans to enter into an agreement to run several U.S. ports have on American businesses located in countries with strong cultural and business ties to Dubai? Perhaps...
JLT 2005 Profits Down 20%
Mar 8 2006 // Jardine Lloyd Thompson Group plc. has reported a 20 percent drop in pretax profits in its preliminary earnings report. The U.K.’s largest insurance broker said that profit “before tax, exceptional items and...
Hannover Re Reorganizing U.S. Business with Praetorian Launch; S&P Ratings and Comments
Mar 8 2006 // Germany’s Hannover Re has announced a fundamental restructuring its U.S. primary insurance business. “All specialty business – henceforth the strategic focus – is to be transferred to the newly...
U.S. Supreme Court Nixes Ethics Challenge to State Farm Ruling
Mar 8 2006 // The Supreme Court refused this week 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...
Wethington Named Chairman of AIG Companies in China
Mar 7 2006 // American International Group Inc. (AIG) reported that Olin Wethington, former special envoy on China, U.S. Department of the Treasury, has joined AIG as chairman of AIG Companies in China, a new position. In this capacity,...
Globally, one size does not fit all
Mar 6 2006 // As trade barriers fall and innovations in technology continue at a breakneck speed, more U.S. companies are reaching out and investing in international markets. U.S. businesses cannot ignore the opportunities in the global...
Court: US Airways Can’t Collect Insurance for 9/11 Disruption
Mar 6 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. The Tempe, Ariz.-based air carrier...
Best Affirms FSR for Lloyd’s Syndicate 1225; Outlook is Stable
Mar 6 2006 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of A (Excellent) and issuer credit rating (ICR) of “a” of Lloyd’s Syndicate 1225 (United Kingdom), which is managed by AEGIS Managing Agency...
XL Insurance Notes New Developments in Global Aerospace Operations
Mar 6 2006 // David Duclos, COO for XL Capital Ltd’s (“XL”) insurance operations (“XL Insurance”), reported changes within XL Insurance’s global aerospace business. London-based Peter Bilsby has been...
U.S. postal customers gain right to sue for tripping over mail, rules U.S. Supreme Court
Mar 6 2006 // The Supreme Court has ruled that the U.S. Postal Service can be sued by a woman who tripped over mail left on her porch. The 7-1 decision revived a woman’s claim that she was entitled to damages after suffering wrist...
Reinsurance treaty renewals show some premium increases
Mar 6 2006 // With the January renewal season now behind them, the world’s global reinsurers are collectively breathing a small sigh of relief. While premium increases in the U.S. met or exceeded expectations, especially along the...
Commissioners Face Long List of Topics in Orlando
Mar 3 2006 // Reference to the National Catastrophe Insurance Plan is prominently absent from the National Association of Insurance Commissioner’s agenda as NAIC kicks off its March 4-7 Spring National Meetings in Orlando,...
Citizens Bank Selling Insurance Agencies to Hub International
Mar 1 2006 // Citizens Financial Group is selling its considerable insurance agency businesses to Hub International Limited in a deal that includes a strategic alliance between the two for future sales and marketing. Hub will purchase...
Lloyd’s Honors Edwards of HRH, Eyre of Towers Perrin
Mar 1 2006 // Lloyd’s announced that it has honored Garry Edwards of Hilb Rogal & Hobbs as U.S. Surplus Lines Broker of the Year and William H. Eyre, Jr. of Towers Perrin as Reinsurance Broker of the Year, “for their...
N.J. Resident Sentenced to Prison for Defrauding 9/11 Victim Comp Fund
Mar 1 2006 // A former truck driver, who authorites report falsely claimed to have been injured and permanently disabled in the terror attack on the World Trade Center on Sept. 11, 2001, was sentenced recently to 30 months in federal...
Converium Releases Earnings Restatement; Q3, 9 Month Results
Feb 28 2006 // Zurich-based Converium announced the completion of an extensive review and a restatement of prior year financial statements ahead of its 2005 earnings release scheduled for March 15. It also released final figures for the...
U.S. State Regulators Reaching Out to Foster International Standards
Feb 27 2006 // At a time when they face pressure to bring more uniformity to their own domestic regulatory operations, the nation’s state regulators are also increasingly active in efforts to harmonize the rules governing...
Sarbanes-Oxley Oversight Board Facing Constitutional Challenge
Feb 27 2006 // A group of advocates for free enterprise and limited government that includes former federal independent counsel Kenneth Starr is challenging the constitutionality of the Sarbanes Oxley Act and its provisions that govern...
