Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Lloyd’s Reports First Half Profit
Oct 6 2005 // Lloyd’s announced an interim profit of 1.38 billion pounds Sterling ($2.47 billion) for the six month period ended June 30, 2005, a 21% increase compared to the same period in 2004. The severe hurricane season will...
AIG Investment Manager, Two Others Charged in Foreign Bribery Scheme
Oct 6 2005 // A managing director at an American International Group investment unit and two other investment advisors have been indicted for their part in an alleged bribery scheme in Azerbaijan. AIG, which says it was defrauded by the...
Aon: Private Insurance Market Will Fail Without Some Form of Public Backstop Against CAT Terror Losses
Oct 5 2005 // In anticipation of the Oct. 7, National Symposium on the Future of Terrorism Risk Insurance, Aon said Wednesday that the private insurance market cannot operate without some form of public backstop against catastrophic...
Record First-Half, Surplus Boost P/C Insurers’ Ability to Pay Hurricane Losses
Oct 5 2005 // The U.S. property/casualty insurance industry’s net income after taxes rose 29.1 percent to a record $30.9 billion in first-half 2005 from $23.9 billion in first-half 2004. Reflecting the industry’s income, its...
Lewis Joins Beazley to Establish U.S. Transport Underwriting Practice
Oct 5 2005 // Beazley Group plc announced that Orville Lewis is joining the company to establish a new underwriting practice focusing on U.S. transportation risks. Lewis brings to Beazley extensive experience of underwriting...
ISO: Preliminary Insured Losses from Katrina at $34.4 Billion
Oct 4 2005 // Hurricane Katrina is expected to cost U.S. property/casualty insurers an estimated $34.4 billion in insured property losses, making it the costliest U.S. catastrophe ever, according to preliminary estimates by ISO’s...
Harvard Pilgrim Named Best Health Plan in U.S. by National Magazine
Oct 3 2005 // Harvard Pilgrim Health Care is the #1 health plan in America, according to a joint ranking by U.S. News and World Report and the National Committee for Quality Assurance. Harvard Pilgrim Health Care of New England, Harvard...
Liotta Joins Willis Re U.S. Specialty Practice
Oct 3 2005 // Willis Group Holdings, the global insurance broker, strengthening its Willis Re management team, has appointed Vincent D. Liotta as executive vice president and production director of the Willis Re U.S. Specialty...
Hurricane Katrina: The Legal Saga Begins
Oct 3 2005 // The New Orleans tragedy may spawn a wave of litigation related to flood protection and levee failures. Public statements, which may serve as a foundation for massive public safety legal claims, began Sept. 1. Based on the...
New Report Warns of Rising Threat to US Insurers from Climate Change
Oct 3 2005 // Higher premiums, coverage restrictions already hitting many parts of country Hurricane Katrina is a poignant reminder that U.S. insurers, government and consumers are at enormous risk from escalating losses from hurricanes...
Hurricane Katrina: The Legal Saga Begins
Oct 3 2005 // The New Orleans tragedy may spawn a wave of litigation related to flood protection and levee failures. Public statements, which may serve as a foundation for massive public safety legal claims, began Sept. 1. Based on the...
New Report Warns of Rising Threat to US Insurers from Climate Change
Oct 3 2005 // Higher premiums, coverage restrictions already hitting many parts of country. Hurricane Katrina is a poignant reminder that U.S. insurers, government and consumers are at enormous risk from escalating losses from...
The artisan contractors market on the rise
Oct 3 2005 // As the United States’ total population creeps up on the 300 million mark, no one can call the residential construction industry a dying breed. The continuous need for housing is apparent in the nation’s fastest...
Munich Re Analyzes Katrina/Rita Impact; Insured Loss Around $40 Billion
Sep 28 2005 // Munich Re has issued a report on the impact of Hurricanes Katrina and Rita on the insurance industry. The world’s largest reinsurer said it “estimates total insured market losses at up to US$ 40 billion,”...
QBE Buying British Marine
Sep 27 2005 // Australia’s QBE Insurance Group today announced that it has signed an agreement to acquire the U.K.-based specialist marine insurer, British Marine Holdings Limited. The deal is expected to close before December 31,...
Ky. Councilman Pleads Guilty in Workers’ Comp Scheme
Sep 27 2005 // Danny W. Miller, a Central City, Ky. Councilman, has pleaded guilty to bilking the federal government out of more than $100,000 in workers’ compensation benefits during a four-year period. Miller appeared in the...
Fitch: Hurricane Rita Won’t Cause Widespread U.S. Insurance Company Rating Changes
Sep 26 2005 // Fitch Ratings said Monday it expects Hurricane Rita will represent a material loss to the insurance industry and will create further strain on insurers’ claims-adjusting resources. However, Fitch does not expect any...
Reputation, Regulation and Recruitment Focus of CII Conference
Sep 26 2005 // “Pulling Together” was the overall theme of the U.K.’s Chartered Insurance Institute’s Annual Conference, which concluded Friday, Sept. 23 in London. However, the “Three Re’s” took...
RMS Model Shows Increased Risk of Extreme U.S. Terrorism Losses
Sep 22 2005 // According to Risk Management Solutions’ fourth annual U.S. Terrorism Risk Model, the risk of extreme terrorism-related events over the next five years, including terrorist attacks using chemical, biological,...
Beazley Offers Employment Practices Liability for Mid-Sized Firms
Sep 21 2005 // Beazley, an insurer of specialty coverages, is offering an employment practices liability (EPL) policy to U.S. clients with up to 10,000 employees. The new policy will be offered in the admitted market and underwritten in...
