Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
NAPSLO Interns At Work in Summer
Aug 19 2002 // The National Association of Professional Surplus Lines Offices (NAPSLO) announced that eight college student are participating in its 2002 Summer Internship Program. The interns spend five weeks during the summer working...
Swiss Re Creates U.S. Advisory Board
Aug 15 2002 // Swiss Re has established a U.S. Advisory Board to provide advisory and consultative services to Swiss Re America Holding Corporation and its US subsidiaries. The establishment of this Advisory Board reflects Swiss...
A.M. Best Affirms Rating of Allianz
Aug 8 2002 // A.M. Best Co. has affirmed the financial strength rating of A++ (Superior) of Allianz AG Consolidated, Germany. At the same time, A.M. Best has downgraded Allianz’s debt ratings to “aa+” from...
U.S. Court Backs Calif. Law on Holocaust Issue
Aug 5 2002 // Commissioner Low was very gratified with the decision. From his perspective, this is a time-sensitive issue because some of these survivors are dying every day,” said Nanci Kramer, a spokesperson with the California...
New Fitch Report Estimates Billions in Asbestos Liability Costs
Aug 5 2002 // Fitch Ratings released a special report, “Asbestos: Impact on the U.S. Insurance Industry,” describing how future claims will affect property and casualty insurers. The report includes estimates of...
Willis Commercial Network Chooses The Hartford’s BMG to Aid in U.S. Expansion
Aug 2 2002 // The Hartford Financial Services Group announced its Business Management Group (BMG) will provide agency management expertise to Willis Commercial Network as the latter prepares to expand its U.K. operation throughout the...
A.M. Best Affirms Ratings of Wawanesa Mutual and Subsidiary
Jul 30 2002 // A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) of Wawanesa Mutual Insurance Company, (Winnipeg, Canada). The rating also applies to Wawanesa General Insurance Company of San Diego, its U.S....
Crawford & Co. Reports Lower 2ndQ Results
Jul 29 2002 // Atlanta-based Crawford & Company released financial results for the second quarter of 2002, including $178 million in revenues before reimbursements compared to $186.5 million in the second quarter of 2001. Operating...
The St. Paul Cos. Notes 2ndQ Loss
Jul 24 2002 // The St. Paul Companies announced a second-quarter 2002 net loss of $223 million, or $1.09 per diluted share, including the previously announced $380 million after-tax impact of its settlement of the Western MacArthur...
Regulators Approve ISO Fire-Protection-Class Database of U.S. Property Addresses for Insurers’ Use a
Jul 23 2002 // With Maine on board, insurance regulators in 44 states and Washington, D.C., have approved Insurance Services Office Inc.’s (ISO) LOCATION™ database of Public Protection Classifications (PPC™), the ISO program...
Profits Fell, Losses Climbed for P/C Industry
Jul 22 2002 // It’s pretty much common knowledge by now that the property and casualty insurance industry suffered tremendous losses in 2001, and although the tragedies of September 11 can be blamed for much of the economic...
Surplus Lines Industry Continues to Play its Role
Jul 22 2002 // Since it’s inception in the early 19th century, the surplus lines industry has played a significant role in the insurance world: providing the buyer with insurance not available in the standard, admitted markets. As...
A.M. Best Affirms Rating of UIA
Jul 18 2002 // A.M. Best Co. affirmed the financial strength rating of “A-” (Excellent) of UIA (Insurance) Limited, United Kingdom. The company’s excellent level of surplus and its niche position in the U.K. household...
A.M. Best Affirms Rating for Mapfre Reinsurance Corp.
Jul 17 2002 // A.M. Best Co. has affirmed the A (Excellent) financial strength rating of U.S.- based Mapfre Reinsurance Corporation (MRC), Florham Park, N.J. The outlook is stable. The affirmation reflects A.M. Best’s continued...
Allied World Assurance Holdings, Ltd. Purchases Pair of U.S. Companies
Jul 17 2002 // Allied World Assurance Holdings, Ltd. announced that its Irish resident subsidiary, Allied World Assurance Holdings (Ireland), Ltd. has completed the acquisition of Commercial Underwriters Insurance Company and Newmarket...
Scor Won’t Increase WTC, U.S. Claims Reserves
Jul 16 2002 // French reinsurer Scor has no plans to pump up its existing reserves to pay for World Trade Center or U.S. liability reinsurance claims, according to Reuters. The news organization reported that Scor CEO Jacques Blondeau...
ISO Reports Record 2001 Underwriting Losses, Poor Investment Results behind PnC Industry’s First-Ev
Jul 10 2002 // The property/casualty insurance industry recorded its first-ever net loss after taxes in 2001, stemming from sharply higher underwriting losses and substantial deterioration in investment results, according to Insurance...
U.S. Lawyer Urges Global Definition of Terrorism
Jul 10 2002 // Atlanta-based attorney Tom Player, who chairs the Insurance group at Morris, Manning & Martin, LLP, announced that he plans to propose the adoption of a global definition of terrorism for the insurance industry at the...
Surplus Lines and the Lloyd’s Market
Jul 8 2002 // Lloyd’s of London is perhaps the most well- known insurer in the U.S., not only due to its 300 years of existence, but also because this country is the London market’s biggest customer, accounting for over 35...
For Lloyd’s, Continued Growth Expected in Surplus Linese
Jul 8 2002 // Lloyd’s of London is perhaps the most well known insurer in the U.S., not only due to its 300 years of existence, but also because this country is the London market’s biggest customer, accounting for over 35...
