Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Ivan Costliest U.S. Hurricane in 2004
Aug 19 2005 // Flooding from Hurricane Ivan’s rain and storm surges prompted more than a billion dollars in claims, making it the costliest hurricane of 2004, U.S. officials said. Ivan’s damage also made it the third most...
Best Affirms Gerling, U.S. Sub Ratings
Aug 18 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Germany’s Gerling-Konzern Allgemeine Versicherungs-Aktiengesellschaft (GKA) and its U.S. subsidiary, the...
Working Overtime Increases Risk of Workplace Injuries More Than Job Hazard, U.S. Study Finds
Aug 18 2005 // The long working hours culture drives up the risk of workplace injury and illness, reveals a study by occupational medicine researchers, who also conclude that the risk has nothing to do with how hazardous the job...
U.S. CSB Issues Urgent Safety Recommendation to BP Global Board in Wake of Accidents at Texas Facilities
Aug 18 2005 // The U.S. Chemical Safety and Hazard Investigation Board, (CSB) recently issued an urgent recommendation calling on the BP Global Executive Board of Directors to commission an independent panel that would review a range of...
QBE Reports Record $375 Million 1st Half Profit
Aug 17 2005 // Australia’s QBE Insurance Group announced a record profit after tax of A$491 million (US$375 million) for the half year to 30 June 2005, an increase of 43 percent on the profit after tax of A$343 million (US$262...
Best Upgrades ACE’s U.S. Subsidiaries
Aug 16 2005 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to A+ (Superior) from A (Excellent) and assigned issuer credit ratings (ICR) of “aa-” to ACE Westchester Specialty Group (ACE Westchester) (lead...
John Hancock Life CEO Benson Retires
Aug 16 2005 // James M. Benson, president and chief executive officer of John Hancock Life Insurance Company in Boston, has elected to retire, Manulife President and Chief Executive Officer Dominic D’Alessandro...
Tropical Storm Risk Reports More Hurricanes on the Way for U.S.
Aug 15 2005 // As the hurricane season recently entered its third month, a London-based storm forecaster reports that a higher-than-usual number of hurricanes are expected to hit the United States this year. Tropical Storm Risk increased...
Allstate Renews U.S. Olympic Sponsorship
Aug 15 2005 // Allstate today announced it has extended the company’s sponsorship with the United States Olympic Committee, maintaining Allstate’s designation as the Official Home and Auto Insurance Sponsor for U.S. Olympic...
R&SA Reports Strong 1st Half
Aug 12 2005 // Royal & Sun Alliance, the U.K.’s second largest commercial insurer, had a good first half of 2005. Operating results rose 79 percent to 329 million pounds ($594 million), compared to 184 million pounds ($332...
Insurance Industry Share of Weather-Related Losses Rising, with 60% Tied to Small Events
Aug 11 2005 // The insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising and 60 percent of these weather-related losses are attributable to small events as distinct from...
Wharton Study Recommends Short-Term TRIA Renewal, Study of Long-Term Solution
Aug 10 2005 // A 224-page report from the Wharton School at the University of Pennsylvania recommends that Congress renew the current federal Terrorism Risk Insurance Act backstop but “only for a relatively short period of...
AIA: Ninth U.S. Circuit Appeals Court Ruling on Credit-Related Adverse Action Notices Disturbing
Aug 9 2005 // The American Insurance Association (AIA) on Tuesday sharply criticized a recent decision by the Ninth U.S. Circuit Court of Appeals that it says mandates an unfair application of the Fair Credit Reporting Act (FCRA)...
Beazley’s New U.S. Company Assigned
Aug 8 2005 // A.M. Best Co. assigned a financial strength rating of “A-” (excellent) and an issuer credit rating of “a-” to Beazley Insurance Company Inc. of Omaha, Neb., a newly formed U.S. insurer that is part...
COURT DENIES SCHEME TO CURTAIL LIABILITIES:
Aug 8 2005 // London insurance companies long-tail liabilities to U.S. policyholders that resort to so-called “solvent schemes” to cut off claims and avoid liquidation have been dealt a serious blow. An English High Court...
People
Aug 8 2005 // American International Group Inc. announced that AIG Vice President Charles Dangelo has been appointed AIG’s senior reinsurance officer, effective immediately. In this role, he will be responsible for all outward...
Business Moves
Aug 8 2005 // Berkshire Hathaway, General Electric Omaha, Neb.-based Berkshire Hathaway and Kansas City, Mo.-based General Electric announced that GE Insurance Solutions’ sale of Medical Protective Corporation to Columbia...
By Dave Thomas
Aug 8 2005 // 87th PGA Championship Tees-Off at Baltusrol in N.J. Needless to say, all eyes surrounding Baltusrol are towards the skies. If the weatherman cooperates, the 87th PGA Championship in Springfield, N.J., could be one for the...
News Briefs
Aug 8 2005 // National Poll Reveals Americans’ Views on Aging: A poll by the MetLife Mature Market Institute conducted by Zogby International shows that 60 percent of Americans believe “old” is age 71 and over, but...
American Re Under Review
Aug 8 2005 // A.M. Best Co. placed the financial strength ratings of “A” (excellent) for American Re Corporation Group’s member companies under review with negative implications. Member companies include American...
