Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Allstate to Buy National General for $4 Billion, Growing Auto, Independent Agent Business
Jul 8 2020 // U.S. Insurer Allstate Corp. said on Tuesday it will buy National General Holdings Corp. for about $4 billion in cash, scaling up its auto insurance business at a time when the coronavirus has crushed traffic on roads and...
Insurance Costs Rising for Cannabis Firms as Unhappy Investors File Slew of Lawsuits
Jul 8 2020 // Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and...
Losses From Civil Protests May Cause Insurers to Rethink Property Coverage
Jul 8 2020 // The civil disturbance that started in Minneapolis after the killing by police of George Floyd spread to 20 other states, leading to an unprecedented property insurance catastrophe. The experience will likely impact policy...
Chubb Estimates $1.4 Billion in Q2 Global Losses Tied to Coronavirus
Jul 7 2020 // Chubb’s disclosure of second quarter 2020 global net catastrophe losses underscores the damage COVID-19 is doing to some carriers’ bottom lines. The global property/casualty insurer estimated $1.8 billion in...
Judge ‘Inclined to Deny’ Part of Bayer Roundup Settlement on Future Claims
Jul 7 2020 // Bayer shares fell more 6% on Tuesday after a U.S. judge questioned part of the German company’s proposed settlement to deal with future claims relating to allegations that its widely used weedkiller Roundup caused...
Insured Losses for 2019/2020 Australia Bushfires Estimated at A$1.9B (US$1.3B): PERILS
Jul 7 2020 // The insurance industry’s loss footprint for the Australian bushfires of 2019/2020 is estimated at A$1.9 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization providing industry-wide...
Argo’s CFO to Depart as Insurer Updates Executive Leadership Team
Jul 7 2020 // Argo Group International Holdings Ltd., the Bermuda-based specialty re/insurer, announced an update to senior leadership team responsibilities and the launch of an outside search for a chief financial officer to succeed...
State Judge Rejects Michigan Restaurants’ COVID-19 Business Interruption Claim
Jul 7 2020 // A trial court judge in Lansing, Michigan handed a victory to insurers in what may be the nation’s first final ruling on the question of whether a property insurer is liable for financial damages caused by a...
Hawaii’s Quarantine is Reasonable During Pandemic, Judge Says
Jul 6 2020 // A U.S. judge will not stop Hawaii from enforcing a quarantine on arriving travelers, saying in a ruling that the emergency mandate is reasonable during the public health crisis caused by the coronavirus pandemic. A group...
COVID-19 Treatment Remdesivir to Cost Private Insurers $3,120
Jul 6 2020 // The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and...
Court Refuses to Open ‘Loophole’ for Cruise Line Lawsuits
Jul 6 2020 // A plaintiff’s attorney cannot avoid a showdown with a cruise line at the federal courthouse in Miami simply by pleading the case as an action that does not require the court’s jurisdiction under admiralty law,...
Hiscox Launches ‘Variable Consortium’ for Hard-to-Place U.S. General Liability Risks
Jul 6 2020 // Hiscox, the Bermuda-based specialist insurer, together with RKH Reinsurance Brokers, has launched a new variable consortium with a maximum line of over US$20 million for a range of challenging general liability risks such...
Canopius Launches Cyber Property Product to Address Silent Cyber Gap
Jul 6 2020 // Canopius, the London-based specialty re/insurer, announced the launch of a set of cyber property products for medium-to-large corporations across all sectors across the globe. In light of the ever-evolving cyber threat,...
American Companies Facing Pressure to Reveal Data on Diversity of Employees
Jul 6 2020 // American companies are coming under increasing pressure from investors to publicly disclose information about diversity among employees in the wake of nationwide protests against racial discrimination. Many executives have...
Climate Change Litigants Argue Human Rights, Consumer Harm in Suing Oil Firms
Jul 6 2020 // LONDON/WASHINGTON/GENEVA — Climate change may be having its day in court. With the slow pace of international climate negotiations, lawyers from Switzerland to San Francisco are increasingly filing lawsuits demanding...
Understanding Risk in a Decade of Natural Catastrophes
Jul 6 2020 // In the past 10 years, the U.S. has seen 121 events produce damage in excess of $1 billion. Globally, this escalates with many more events around the world. From major hurricanes and floods, to annual severe weather,...
Business Moves
Jul 6 2020 // East High Street Insurance Partners, Gates-Cole Associates Traverse City, Michigan-based High Street Insurance Partners has acquired Gates-Cole Associates in New Hartford, New York. Financial details of the transaction...
Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jul 6 2020 // The U.S. commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
Declarations
Jul 6 2020 // At Risk “Workers servicing or maintaining machines are at risk of serious injury, including amputations, if hazardous energy is not properly controlled.” — OSHA Marlton Area Office Director Paula...
Houston Pharmacist Gets 10 Years in $21M Workers’ Comp Fraud Case
Jul 6 2020 // A Houston pharmacist has been sentenced to 10 years in prison in a $21 million workers’ compensation fraud case. George Philip Tompkins, 75, the self-proclaimed “Compound King” and former owner of Piney...
