All the headlines from our USA Topic Page, ordered by recency.
Dec 27 2007 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
Dec 23 2007 // Recent snow and rain at many people’s doorsteps signal that it’s the high season for snowbirds to flock south for the winter. And those driving beyond the border into Mexico during this peak season should seek...
Dec 23 2007 // Severe summer storms that ransacked the Midwest, a court ruling that could negatively impact the medical malpractice insurance market in Illinois and RICO allegations in Minnesota were just a few of the news stories that...
Dec 23 2007 // $247 BillionU.S. tort costs totaled $247 billion in 2006, which is $57 less per person than in 2005 at approximately $825 per person, according to an update on U.S. Tort Cost Trends from the Tillinghast insurance...
Dec 23 2007 // While the Southeast’s largest wildfire in over a century was still smoldering in Georgia after burning 903 square miles, a fresh conflagration reared its ugly head in California, and an American pilot from Virginia...
Dec 23 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
Dec 20 2007 // Standard & Poor’s Ratings Services joined A.M. Best in lowering its senior unsecured and long-term counterparty credit ratings on Toronto-based Kingsway Financial Services Inc. to ‘BB+’ from...
Dec 19 2007 // Wendy Baker, president of Lloyd’s U.S. operations, has decided to leave the organization at the end of December.Baker has held the post for nine years. According to Sue Langley, head of Lloyd’s Market...
Dec 19 2007 // The U.S. House of Representatives has passed an extension to the Terrorism Risk Insurance Act (TRIA) by a vote of 360 to 53 in a form closer to what the Bush Administration and the Senate would support than to an original...
Dec 19 2007 // The Bermuda-based Catlin Group Limited announced that Catlin Insurance Company Ltd. of Bermuda has purchased coverage totaling $225 million under a catastrophe swap agreement in the event of severe US natural catastrophes...
Dec 19 2007 // Toronto-based Kingsway Financial Services Inc. (KFSI) announced that it would report a reserve increase at its Lincoln General subsidiary in the fourth quarter. After reviewing claims trends, Kingsway said the increases...
Dec 18 2007 // Phishing attacks in the United States soared in 2007 as $3.2 billion was lost to these attacks, according to a recent survey. The survey found that 3.6 million adults lost money in phishing attacks in the 12 months ending...
Dec 18 2007 // Standard & Poor’s Ratings Services will hold a telephone conference call on Wednesday, Dec. 19, 2007 at 11:00 A.M. Eastern Time (5:00 P.M. -Europe; 4:00 P.M. UK). The conference will feature an overview of...
Dec 18 2007 // Lloyds’s insurer, Marketform Group Limited, which specilizes in non-US medical malpractice and other specialty lines, announced that American Financial Group Inc. (AFG) is to become the majority shareholder in its...
Dec 17 2007 // Munich Re is also buying a slightly smaller piece of Aon (See previous article). The world’s second largest reinsurer announced that it has concluded an agreement with Aon to acquire 100 percent of Sterling Life...
Dec 17 2007 // Pandemics are inevitable and businesses must prepare now by developing continuity plans in case of a flu outbreak, said Scott Mugno, managing director, corporate safety, health and fire protection at FedEx...
Dec 14 2007 // The U.N. climate chief warned on Thursday that a deadlock between the United States and the European Union over pollution cuts threatened to derail talks aimed at launching negotiations for a new global warming...
Dec 14 2007 // As the turmoil from the subprime crisis ripples across the global credit and equity markets and threatens the stability of the U.S. economy, several insurers have announced their exposure to mortgage-linked assets in their...
Dec 13 2007 // The 2007 update on U.S. Tort Cost Trends from the Tillinghast insurance consulting practice of Towers Perrin said U.S. tort costs totaled $247 billion in 2006, which is $57 less per person than in 2005 at approximately...
Dec 12 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Zurich Insurance Company (ZIC), the main operating company of...