Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
N.C. Receives Federal Aid Programs
Sep 11 2004 // North Carolina is receiving federal aid programs to help in the aftermath of Tropical Storm Frances. The following is a summary of key federal disaster aid programs that can be made available as needed and warranted under...
EQECAT Says Ivan Landfall Would Be a ‘1 in 50 Year’ Series of Storm Events
Sep 10 2004 // It may come as small comfort to Florida’s storm-battered residents, but Thomas Larsen, senior vice president of EQECAT Inc., the Oakland Calif.-based catastrophe modeling specialist, announced that a Florida landfall...
S&P Affirms American Re and Affiliates ‘A’ Ratings
Sep 10 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its “A” counterparty credit and financial strength ratings on U.S.-based American Re-Insurance Co. and its subsidiaries American...
Ivan Leaves 15 Dead in Lesser Antilles; Category 5 Storm Heads for Jamaica, Cuba, U.S.
Sep 9 2004 // At least 9 persons were reported to have died on the Caribbean Island of Grenada, following a direct hit from Hurricane Ivan. A report from the BBC, delayed because of damage to communications facilities, said that 90...
Insurers Urge U.S. Supreme Court to Change Utah Ruling in Landmark Punitive Damages Case
Sep 9 2004 // The National Association of Mutual Insurance Companies (NAMIC) and the Property Casualty Insurers Association of America (PCI) have filed an amicus brief urging the U.S. Supreme Court to consider a remand of a second Utah...
Cunningham Lindsey U.S. Adds Resources in Fla.
Sep 8 2004 // Dallas-based Cunningham Lindsey U.S. Inc. (CLUS) announced that in the wake of historic dual hurricanes in Florida, it has mobilized additional experienced claims professionals, supervisors and support staff into the...
Powerful Hurricane Ivan Ravages Caribbean Islands; Could Strike U.S.
Sep 8 2004 // Hurricane Ivan continued its destructive path through the Southeastern Caribbean yesterday, pummeling Grenada, Barbados and Tobago with 120 mph (195km/hr) winds before moving back over open water. No deaths have so far...
Aviva to Sell Asian P/C Business to Mitsui Sumitomo
Sep 7 2004 // The U.K.’s Aviva (ex-CGNU) has agreed to sell its Asian non-life business to Japan’s second largest general insurer (after Tokio Marine) Mitsui Sumitomo Insurance Co Ltd. (MSI), for £249 million ($443...
Commercial Property
Sep 6 2004 // Nuts & Bolts: AXIS U.S. Insurance’s excess and surplus property unit is now offering property insurance coverage for U.S.-based lumber, wood products and furniture risks. The underwriting of this specialized...
Charley Causes a Path of Destruction in Florida, Carolinas
Sep 6 2004 // Lessons from Andrew Taught Industry to “Be Prepared” Lessons learned from the most costly natural disaster in U.S. history more than prepared the insurance industry for the destruction left by Hurricane...
MarketScout Honoring U.S. Heroes with Sept. 11 Celebration
Sep 6 2004 // Dallas-based MarketScout is holding a Heroes! celebration on Sept. 11 and 12, 2004, to honor American soldiers who have served on active duty in Iraq or Afghanistan. The non-political event is intended simply to thank...
Commercial Property
Sep 6 2004 // Nuts & Bolts: AXIS U.S. Insurance’s excess and surplus property unit is now offering property insurance coverage for U.S.-based lumber, wood products and furniture risks. Covered risks include logging...
U.S. Court Approves $500 Million St. Paul Travelers Asbestos-Related Settlement
Sep 6 2004 // National • Aug. 18, 2004 “If you divide the huge sum of money by the number of claimants we arrive at a startling fact: each claimant will receive a whopping $741.67. What has been accomplished? A manufacturer has...
State Farm Again Asked Utah Court to Lower Civil Judgment Award
Sep 6 2004 // An insurance company that already won a $136 million reduction of a punitive damage award thinks that the $9 million it was ordered to pay is still too high. State Farm Mutual Automobile Insurance Co. has appealed the...
Long-Term Health Care Costs Loom Large for Governors
Sep 6 2004 // Soaring health care costs, coupled with the looming retirement of a record 77 million Americans starting in 2011, are casting a shadow of concern over states that worry their public health care systems can’t shoulder...
People and Places
Sep 6 2004 // Brian Corbett Westfield Center, Ohio-based Westfield Insurance has named Brian G. Corbett executive of personal lines and nonstandard auto. His responsibilities include managing the profitability and expansion of Defender,...
People and Places
Sep 6 2004 // Margie Bishop Vista Insurance Partners, based in San Antonio, appointed Margie Bishop as senior broker/underwriter. Bishop will work with current and new Vista agents to develop new business and retain existing accounts...
Toronto Bank Buying Majority of Banknorth
Sep 2 2004 // Officials at Banknorth Group, Inc. (NYSE: BNK) of Portland, Maine, and TD Bank Financial Group (TDBFG) of Toronto announced that they have signed a definitive agreement for TDBFG to acquire 51 percent of the outstanding...
Insurers Urge U.S. Supreme Court to Reverse Utah Ruling in Landmark Punitive Damages Case
Sep 2 2004 // The National Association of Mutual Insurance Companies (NAMIC) and the Property Casualty Insurers Association of America (PCI) have filed an amicus brief urging the U.S. Supreme Court to consider a remand of a second Utah...
Imagine Completes US$100 Million Share Issue
Sep 1 2004 // The Bermuda-based Imagine Group, a specialty insurance and reinsurance company, announced that it has completed a $100 million private placement of common shares with institutional investors. “The proceeds from the...
