Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Weiss Ratings: U.S. Insurers’ 9/11 Losses Reach $9.3 Billion
Sep 22 2003 // Weiss Ratings Inc. of Palm Beach Gardens, Fla., reported that U.S. property and casualty insurers’ net claims arising from the Sept. 11 terrorist attacks reached $9.3 billion by Dec. 31, 2002, compared to $8.5...
CIGA Looks to Bond Sound Future
Sep 22 2003 // Thanks to the legislature, the California Insurance Guarantee Association (CIGA) will stave off financial ruin by floating bonds next year. Part of the reform package passed by both houses in the Capitol includes...
R&SA USA Downgraded
Sep 22 2003 // S&P and Fitch Ratings both announced that they have downgraded their respective financial strength and counterparty credit ratings on the members of the Royal & SunAlliance USA Group. A.M. Best Co. said it has...
$585 Million Settlement at Hand in Credit Lyonnais/ELIC Fraud Case
Sep 22 2003 // Nothing apparently concentrates the corporate mind so effectively as being named in a criminal complaint. A week after a federal grand jury in Los Angeles issued a sealed indictment which reportedly accused it, and...
$585 Million Settlement at Hand in Credit Lyonnais/ELIC Fraud Case
Sep 22 2003 // Nothing apparently concentrates the corporate mind so effectively as being named in a criminal complaint. A week after a federal grand jury in Los Angeles issued a sealed indictment which reportedly accused it, and...
United National Group Files for IPO
Sep 19 2003 // United National Group Ltd., a holding company formed under the laws of the Cayman Islands, announced it has filed a registration statement on Form S-1 for an initial public offering of its class A common shares. It intends...
New Survey Reportedly Highlights Need for Class Action Reform
Sep 16 2003 // An overwhelming majority of Americans reportedly believe that frivolous lawsuits are flooding the court system and that class action lawsuits are increasing the cost of products they buy. According to a Winston Group...
Lloyd’s Chairman Calls for Action to Tackle Compensation Culture
Sep 16 2003 // Speaking at Town Hall Los Angeles recently, Lord Levene, chairman of Lloyd’s of London insurance market, said that the compensation culture and increasing barriers to free trade cause serious harm to industries that...
Aspen Expands Into U.S. E&S Business; Acquires Dakota Specialty Insurance Co.
Sep 10 2003 // Aspen Insurance Holdings Limited, a provider of global reinsurance and specialty insurance, is expanding into the U.S. excess and surplus lines business through the acquisition of Dakota Specialty Insurance Company from...
Insurers Sue Terror Supporters for 9/11 Losses
Sep 10 2003 // Dozens of insurance companies, acting as members of five large insurance groups—Chubb, American Re, Zurich American, One Beacon and Crum & Forster—have filed a lawsuit in two cities against Al Qaida and other...
Supreme Court’s Decision Could Impact Quality of Nursing Home Patient Care
Sep 8 2003 // A United States Supreme Court decision on whether a petitioner’s net worth could be a consideration in awarding punitive damages could have a serious impact on the nursing home profession at a time when there is...
WHO to Promote Road Safety
Sep 8 2003 // The World Health Organization (WHO) has designated “Road Safety” as the theme of next year’s World Health Day (WHD), to be observed April 7, 2004. The resolution, adopted by the General Assembly can be...
Survey Says Two-Thirds of U.S. Renters Live Without Insurance
Sep 8 2003 // A new independent consumer survey conducted for the Independent Insurance Agents & Brokers of America (IIABA) has reportedly found that nearly two-thirds of those living in U.S. rental properties are currently risking...
Weiss Ratings: U.S. Insurers’ 9/11 Losses Reach $9.3 Billion
Sep 5 2003 // Weiss Ratings Inc. of Palm Beach Gardens, Fla., reported that U.S. property and casualty insurers’ net claims arising from the Sept. 11 terrorist attacks reached $9.3 billion by December 31, 2002, compared to $8.5...
R&SA Confirms 1st Half Profit Increase, Rights Issue; Sells Some U.S. Renewal Rights to Travelers
Sep 4 2003 // The U.K.’s Royal & Sun Alliance confirmed a 14.25 percent increase in net group profits for the first half of 2003 – £351 million ($556 million), compared to £301 million ($477 million) in 1st half 2002....
U.S. Attorney Lauds Pa. Commissioner for Help in Fraud Case – Receives $9.2 Million
Sep 2 2003 // Pennsylvania’s Insurance Commissioner, Diane Koken received praise from Patrick Meehan, United States Attorney for the Eastern District, for the help her Department gave federal prosecutors investigating Allen W....
Swiss Re Reports $490 Million 1st Half Net Earnings
Aug 29 2003 // Unlike its German rival (see following story) Swiss Re posted a significant first half-earnings increase to CHF 691 million ($490 million), compared to CHF 118 million ($83.6 million) in the same period of 2002. Total...
AIG Completes Acquisition of GE’s Japan Life and U.S. Auto Business
Aug 29 2003 // American International Group, Inc. announced that “the acquisition of the GE Edison Life Insurance Company in Japan and GE’s U.S.-based auto and home insurance business has been completed, effective...
Blackout to Have Small Impact on U.S. Insurers
Aug 21 2003 // Last week’s blackout that halted power throughout the Midwest, the northeastern U.S., and parts of Canada reportedly might only have a minimal impact on U.S. insurance companies, depending on the official cause of...
Recovery From Adverse Conditions on Minds of IIS Seminar Attendees
Aug 18 2003 // The International Insurance Society’s 39th Annual Seminar, held in July at New York’s Waldorf Astoria Hotel—differs from other big insurance gatherings. It brings together CEO’s, top managers, academics...
