Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Fairfax Completes US$300 Million Equity Issue
Dec 17 2004 // Toronto-based Fairfax Financial Holdings Limited announced today that it has obtained all requisite regulatory approvals and closed its previously announced issuance of US $300 million of subordinate voting shares...
Fitch Affirms Everest Re Ratings
Dec 17 2004 // Fitch Ratings announced that it has affirmed all ratings related to Everest Re Group, Ltd., including the “A-” senior debt and long-term issuer rating of intermediate holding company, Everest Reinsurance...
Third Annual Report Identifies ‘Judicial Hellholes’
Dec 15 2004 // The third annual “Judicial Hellholes” report – a ranking of the worst courts in the United States – shows a disturbing scenario for one Illinois county. As a result of what happens in the Hellhole...
Swiss Re Conference Sees Continued Industry Growth
Dec 15 2004 // Andreas Beerli, Head of Swiss Re’s U.S. P/C business in the Americas, speaking at the company’s annual year-end economic and insurance industry review and outlook, asserted that the P/C reinsurance industry...
Texas Occupational Injury, Illness Rate Lower than National Rate for 14th Straight Year
Dec 14 2004 // The Texas Workers’ Compensation Commission (TWCC) reported that in the latest reporting period for nonfatal workplace injury and illness incidence rates, Texas was lower than the national rate. In 2003, the Texas...
Actuaries Address Concerns Over Professions Integrity
Dec 10 2004 // The actuarial profession in several countries is developing new rules and standards to affirm its integrity and competence to the public, said international representatives at the Casualty Actuarial Society (CAS) annual...
S&P Reports Stable Outlook for U.S. Reinsurers
Dec 9 2004 // Standard & Poor’s Ratings Services has published an article titled “U.S. Reinsurance Year-End 2004 Outlook: Ratings Stability in 2005, An Atoll in Stormy Seas.” The article reviews the U.S....
OPIC Approves $250 Million Political Risk Policy for Israeli Pipeline; Credits Aspen Institute
Dec 9 2004 // The board of directors of the Overseas Private Investment Corporation (OPIC) announced the approval of $250 million in political risk insurance for the construction of a 65-mile pipeline that will serve as the centerpiece...
St. Paul Travelers Notes New Imported Products Program for Special Exposures
Dec 9 2004 // St. Paul Travelers announced the introduction of a new Imported Products Program, designed to furnish coverage for the special exposures faced by U.S.-based companies that import foreign products. The policy is...
Levene to Serve 2nd Term as Lloyd’s Chairman
Dec 8 2004 // Lloyd’s announced that Lord Peter Levene of Portsoken is to serve a second term as its Chairman. He became Lloyd’s 61st Chairman, for a minimum term of three years in November 2002, and has accepted an...
S.A. Peck & Co. New Keeper of Diamonds Seized During Frankel Investigation
Dec 8 2004 // Chicago-based S.A. Peck & Co. has purchased diamonds from the United States Department of the Treasury that had been seized in 2001 from reclusive financier and criminal genius Martin Frankel, otherwise known as the...
U.S. Personal Lines Sector Remains Strong With a Stable Outlook, Report Says
Dec 7 2004 // Fundamentals remain strong for U.S. personal lines insurance carriers, according to a report published by Standard & Poor’s. This is reflected in S&P’s decision to retain a stable outlook on the...
Prime Authorized to Write Surplus Lines in Washington
Dec 7 2004 // Sandy, Utah-based Prime Insurance Syndicate Inc. announced that it has received approval to write surplus lines insurance business in the state of Washington effective as of Nov. 1, 2004. Prime, which offers solutions for...
Competition and Investigations Are Squeezing U.S. Commercial Lines’ Earnings, Report Says
Dec 7 2004 // U.S. insurers will see their 2004 earnings from commercial lines fall as rate increases peak and legal investigations intensify, according to a report published by Standard & Poor’s. The report, titled...
Ill Winds Blow but the Ship Remains on Course
Dec 6 2004 // This year’s annual report on the reinsurance industry is a bit later than usual. It seems that beginning in August the voyage was interrupted by some serious storms, and it was hard to catch up to the boat as it...
SPITZER TAKES COMPENSATION PROBE TO WASHINGTON
Dec 6 2004 // Senate Panel Wants In, Agents Want Out of Brokerage Scandal At recent Senate hearings in Washington called to follow-up on allegations of bid rigging and hidden compensation by Marsh and other large insurance brokers,...
Keeping Up with Insurance Brokerage Investigations
Dec 6 2004 // Recent Key Developments in Ongoing Probes of Marsh, Other Brokers and Insurers Marsh ‘Hopeful’ of Quick Settlement Marsh & McLennan has been in constant contact and cooperation with New York Attorney Eliot...
S&P Affirms Centre Solutions Ratings; Withdrawn at Company Request
Dec 6 2004 // Standard & Poor’s Ratings Services announced that it has removed its ‘BBB-‘ ratings on Centre Solutions (Bermuda) Ltd. and related operating companies from CreditWatch, where they were placed on...
Keeping Up with Insurance Brokerage Investigations
Dec 6 2004 // Recent Key Developments in Ongoing Probes of Marsh, Other Brokers and Insurers Marsh ‘Hopeful’ of Quick Settlement: Marsh & McLennan (MMC) has been in constant contact and cooperation with New York...
JUDGE RULES AGAINST MUTUAL BENEFITS IN FAVOR OF SEC:
Dec 6 2004 // A federal magistrate judge has upheld U.S. Securities and Exchange Commission (SEC) findings that Mutual Benefits Corporation (MBC), the nation’s largest viatical settlement company, engaged in violations of...
