All the headlines from our USA Topic Page, ordered by recency.
Oct 29 2007 // Standard & Poor’s Ratings Services has affirmed its ‘BBB+’ counterparty credit rating on Assurant Inc., removed it from CreditWatch negative, and assigned a negative outlook to the company. S&P...
Oct 27 2007 // A declaratory judgment action is essentially a request — typically by the insurer but often by the insured — that a court examine the relevant insurance policy provisions and declare the rights and obligations...
Oct 27 2007 // This summer, much of the western United States was in flames. Wildfires spurred by above-normal spring and summer temperatures, and one of the worst droughts in decades charred several million acres across the 11 western...
Oct 27 2007 // Arthur J. Gallagher, BISArthur J. Gallagher & Co. acquired BIS Insurance Services Inc. of Sacramento, Calif. Terms of the transaction were not disclosed. Founded in 1979, BIS Insurance Services is an employee benefits...
Oct 27 2007 // This fall is an off-year election season with only a handful of federal races and most state houses gearing up for contests in 2008. However there are some races — a hotly-debated referendum in Washington and key...
Oct 26 2007 // The Chubb Corp. reported that net income in the third quarter of 2007 was $738 million or $1.87 per share, compared to $604 million or $1.43 per share in the third quarter of 2006.Operating income, which the company...
Oct 26 2007 // An engineering firm that helped adjust insurance claims on the Gulf Coast after Hurricane Katrina is seeking to block an employee’s computer hard drive from being turned over to a federal grand jury in...
Oct 26 2007 // British Petroleum and several of its subsidiaries have agreed to pay approximately $373 million in fines and restitution for environmental violations, the U.S. Department of Justice announced. The sanctions stem from a...
Oct 25 2007 // A U.S. House of Representatives’ panel endorsed legislation this week that would require insurance companies to disclose information on Holocaust-era policy holders.The legislation aims to address concerns among some...
Oct 25 2007 // As the reinsurance industry increasingly moves offshore, U.S. insurance regulators are rethinking current rules that require only non-U.S. reinsurers to post collateral equal to the full amount of their liabilities to U.S....
Oct 25 2007 // Insured losses from wildfires continuing to spread in Southern California could likely become the costliest catastrophe insured loss event in 2007 and may potentially become the costliest wildfire catastrophe insured loss...
Oct 24 2007 // Several dozen airports painted brighter runway markings, airlines began new pilot training and regulators agreed to order clearer taxiing instructions as part of a two-month industrywide effort to improve U.S. aircraft...
Oct 22 2007 // The Property Casualty Insurers Association of America said that it is “strongly opposed to the recent proposal by the New York State Insurance Department that would reduce collateral requirements for that state (See...
Oct 19 2007 // Lloyd’s of London, which has been pressuring for a change in New York’s reinsurance regulation for years, reacted positively to the proposal by New York State Insurance Superintendent Eric Dinallo to amend the...
Oct 18 2007 // Jean-Paul Rignault, chief executive of AXA Corporate Solutions, called for premium rates to be stabilized if insurers are to achieve adequate pricing and the current soft market cycle, now taking hold, is to flatten out.He...
Oct 18 2007 // Hundreds of new insurance initiatives, including green building credits, drought-protection in developing countries and incentives for investing in renewable energy and carbon emissions trading are being offered to tackle...
Oct 18 2007 // Non-U.S. reinsurers would no longer have to post collateral to operate in New York as long as they have the highest credit ratings.Also, all reinsurers — even U.S.-based — without the highest credit ratings would have...
Oct 17 2007 // Mattel Inc., which spent much of the past quarter dealing with fallout from massive toy recalls, said that the impact could hurt sales during the quarter that includes the holidays, even though it saw its third-quarter...
Oct 17 2007 // It didn’t take Munich Re very long to make good on its intentions to expand in then U.S. P/C market (See IJ web site Oct. 9). The world’s second largest reinsurer announced today that it has “concluded an...
Oct 17 2007 // He’s said it before, and he’s said again. In a forceful open letter printed in the Financial Times (FT), Lloyd’s Chairman Lord Peter Levene wrote that it is “extraordinary that the US does not offer...