Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Fireman’s Fund Launches Nationwide ‘Identity Theft’ Recovery Service
Apr 1 2005 // California-based Fireman’s Fund Insurance Company, the principal U.S. operating unit of Germany’s Allianz, announced that it now provides Identity Theft Restoration Services throughout the United...
CIAB Wins Countersignature Lawsuit in Puerto Rico
Apr 1 2005 // The Council of Insurance Agents & Brokers, the trade association that represents the nation’s largest commercial P/C and benefits brokers, announced the successful outcome of its lawsuit in Puerto Rico to strike...
S&P Report Notes Slower Growth in U.S. P/C Surplus
Apr 1 2005 // Standard & Poor’s Ratings Services has published a report comparing the past two years of U.S. P/C surplus growth, titled “U.S. Property/Casualty Surplus Growth Slows In 2004.” S&P credit...
New GAO Study: U.S. Needs Government Help to Insure for Catastrophes and Terrorism
Mar 31 2005 // A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government intervention if there were a major terrorist or catastrophic event or series of...
Fitch Says P/C Views Record U.S. Catastrophe Losses in 2004, However Profitability Moves Up
Mar 30 2005 // The U.S. property and casualty industry posted stronger underwriting results and profitability in 2004 relative to 2003, despite sharp increases in catastrophe losses for many market participants related to the...
Copy of AIG Chairman Greenberg’s Retirement Letter
Mar 29 2005 // The Board of Directors of American International Group, Inc. (AIG) confirmed that it has received a letter from David Boies on behalf of its Chairman M. R. Greenberg, indicating his intent to retire from his position as...
ACE Forms Logistics Industry Practice Division
Mar 28 2005 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has created the ACE Logistics Industry Practice. This specialized practice will focus on providing comprehensive insurance coverage and...
PCI Announces Staff Hires, Promotions
Mar 28 2005 // The Property Casualty Insurers Association of America has announced the addition of William “Bill” Fritts to serve as executive vice president, responsible for oversight and coordination of PCI’s federal...
Glencoe Acquires Savannah Re from Palmer & Cay
Mar 25 2005 // In a joint announcement private retail brokerage firm Palmer & Cay, Inc., and Glencoe U.S. Holdings Inc., the wholly owned U.S. subsidiary of Bermuda’s RenaissanceRe Holdings Ltd., affirmed that Glencoe has...
Survey: Consumer Driven Health Plans Making Headway in U.S. Companies
Mar 24 2005 // According to a recent survey of 208 benefits managers, 22 percent of companies responding now offer a consumer driven health plan option (CDHP) to employees. Seventy-four percent of the companies offering CDHPs started...
Crawford & Company U.S. Quality Award Program Honors Employee Performance
Mar 23 2005 // Crawford & Company, of Atlanta has announced its 2004 winners of its U.S. Quality Award Program. The program recognizes Crawford employees and branches for consistent outstanding performance in producing a quality...
MarshMac Emerges from Difficult Year with Downsizing and Disclosure Plan
Mar 21 2005 // Marsh Will Drop ‘Unprofitable’ Accounts But MMC Will Keep Putnam and Mercer Units Giant insurance broker Marsh, battered by regulators, soft market prices and competitors in 2004, plans on dropping thousands of...
Killer Tsunamis and the Marine Insurance Market
Mar 21 2005 // Early in the morning hours on Dec. 26, 2004, opposing subterranean tectonic plates deep beneath the Indian Ocean floor shifted in violent unison along a line about 300 miles long. The energy released was on par with a...
GENERAL RE UNDER SCRUTINY:
Mar 21 2005 // General Reinsurance, a subsidiary of Berkshire Hathaway Inc., has been subpoenaed in an investigation of Reciprocal of America, a former Virginia-based professional liability insurer whose collapse is considered one of the...
Workers’ Compensation: In-Between the Good, the Bad, and the Injuries
Mar 21 2005 // With overall claims frequency still on the decline and loss costs and rates relatively stable, the state of the workers’ compensation line nationwide continues to show positive signs of improvement. Nevertheless, the...
People & Places
Mar 21 2005 // James B. Allen Toledo, Ohio-based agency Hylant Group announced the promotion of James B. Allen to vice president of risk management and vice president legal counsel. In the newly created position of legal counsel, he will...
People & Places
Mar 21 2005 // Genia Walden Pacific Wholesale Insurance named Genia Walden as a company vice president. She will function both as a broker and an underwriter for the Dallas-based firm. Walden formerly served other leading MGA/brokerage...
Man with Multiple Identities Indicted in International Scam
Mar 21 2005 // Matthew Wallace Schachter, aka Robert Lewis Brown, aka Matthew C. Rollins, was indicted in February on federal charges relating to an insurance fraud scheme that allegedly netted more than $20 million over the last four...
Horton China Desk Offers U.S. Brokers an Option When Placing Coverage in China
Mar 18 2005 // The Horton Group of Orland Park, Ill., has announced a new facility to assist agents and brokers in the United States with placing and servicing property, casualty and employee benefit covers directly into the...
Business Leaders Warn of ‘Rolling Crisis’ As Federal Terror Insurance Program Nears Expiration
Mar 18 2005 // U.S. business leaders came out in force this week to urge renewal of the federal Terrorism Risk Insurance Act and warn that market restrictions on terror insurance coverage are already beginning to be felt in the...
