Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Canada Should Require Stronger Rail Cars for Crude Before 2025 Deadline: Official
Aug 27 2018 // Canada ought to require stronger tank cars for transporting flammable liquids sooner than the current deadline in 2025, Transportation Safety Board Chair Kathy Fox said on Thursday, noting that crude-by-rail shipments are...
China’s Giant Ping An Insurance Sues U.S. Broker Over Use of Name
Aug 24 2018 // China’s giant Ping An Insurance Group is suing a California-based wholesale brokerage over its use of the name Ping An. The Chinese financial services firm is demanding that Ping An Insurance Center...
In Harvey’s Wake: 68 Dead; Damage Costs in the Billions
Aug 24 2018 // Hurricane Harvey slammed into Texas last August as a powerful Category 4 storm, killing dozens of people and causing billions of dollars in damage. Though its fiercest winds quickly dissipated, the storm hovered for days...
Big Insurers Still Taking a Pass on Marijuana Profits
Aug 24 2018 // Marijuana is already a multibillion-dollar business in the U.S. that’s drawing attention from some lawmakers eager for tax revenue and investors looking for profits. So far, however, some of the biggest insurers are...
Bayer’s Monsanto Faces 8,000 U.S. Lawsuits on Glyphosate-Based Weedkillers
Aug 24 2018 // The number of U.S. lawsuits brought against Bayer’s newly acquired Monsanto has jumped to about 8,000, as the German drugmaker braces for years of legal wrangling over alleged cancer risks of glyphosate-based...
Home Depot to Pay $100K to Settle Illinois Disability Discrimination Lawsuit
Aug 23 2018 // Home Depot, the large national home improvement retailer, has agreed to pay a former employee $100,000 and provide other relief to settle a disability discrimination lawsuit, according to the U.S. Equal Employment...
Investors Betting on Workplace Medical Clinics to Help Employers Contain Costs
Aug 23 2018 // A group of investors is putting up $165 million to fuel an expansion of Paladina Health, bringing a recent surge of private funds flowing into companies that run primary-care clinics to more than a half-billion...
Brand Name Drug Maker Not Liable for Injuries from Generic Version: Court
Aug 23 2018 // A U.S. appeals court on Wednesday tossed a $3 million verdict against GlaxoSmithKline over the suicide of an attorney who took a generic version of the company’s antidepressant Paxil, finding the company could not be...
The Hartford to Acquire Specialty Insurer Navigators in $2.1 Billion Deal
Aug 22 2018 // The Hartford Financial Services Group has agreed to acquire specialty insurer The Navigators Group in a transaction that values Navigators at approximately $2.1 billion. Under the terms of the agreement, Navigators...
Run-Off Venture Targets Florida Auto Insurer Peachtree Casualty for First Acquisition
Aug 22 2018 // International insurance and reinsurance company DARAG and U.S.-based acquisition specialist SOBC have formed a joint venture with SOBC DARAG in Delaware to support DARAG’s expansion into the U.S. and...
AIR Worldwide Estimates Insured Losses from Japan Floods Could Reach US$4B
Aug 21 2018 // Industry insured losses from the flooding in western Japan caused by excessive rainfall from June 28 to July 8, 2018, will be between JPY284 billion (US$2.6 billion) and JPY423 billion (US$4.0 billion), according to...
VW’s CEO Knew About Cheating Software Before Scandal Emerged: Der Spiegel
Aug 21 2018 // Volkswagen Chief Executive Herbert Diess was told about the existence of cheating software in cars two months before regulators blew the whistle on a multi-billion exhaust emissions scandal, German magazine Der Spiegel...
Monsanto Has Another Legally Risky Chemical Product
Aug 21 2018 // Some Bayer AG investors were surprised to learn about the thousands of farmers lining up before U.S. courts to argue that Roundup — the blockbuster weedkiller the German company recently acquired when it bought...
Trump Asks SEC to Study 6-Month Instead of Quarterly Corporate Filings
Aug 20 2018 // President Donald Trump said on Friday he had asked the U.S. Securities and Exchange Commission to study the impact of allowing companies to file reports with the financial regulator every six months instead of every...
Swiss Re’s DePiero Joins Sompo Pro’s U.S. Cyber Practice
Aug 20 2018 // Richard DePiero has joined Sompo Pro, the U.S. professional liability insurer unit of Sompo International, as senior vice president, U.S. Cyber Product leader. DePiero will be responsible for Sompo Pro’s U.S. cyber...
China Imports with Iranian Oil Tankers and Insurance, Amid Sanctions: Sources
Aug 20 2018 // Chinese buyers of Iranian oil are starting to shift their cargoes to vessels owned by National Iranian Tanker Co. (NITC) for nearly all of their imports to keep supply flowing amid the re-imposition of economic sanctions...
Guy Carpenter Licenses the CoreLogic U.S. Inland Flood Model
Aug 20 2018 // This post is part of a series sponsored by CoreLogic. 2017 was a game-changing year for the insurance industry. Between the catastrophic deluge of water dumped in Texas from Hurricane Harvey and the unprecedented...
Jury Orders Pork Producer to Pay $473.5M in North Carolina Nuisance Lawsuit
Aug 20 2018 // A federal jury decided Aug. 5 that the world’s largest pork producer should pay $473.5 million to neighbors of three North Carolina industrial-scale hog farms for unreasonable nuisances they suffered from odors,...
Workers’ Comp Results Likely to Weaken Next Year: Fitch
Aug 20 2018 // After three banner years, the U.S. workers’ compensation market will face increasing pricing pressure and an erosion in results heading into next year. That means 2019 will be closer to a break-even combined ratio...
AIR Worldwide Updates Wildfire Model with Event-Based Risk Management Approach
Aug 17 2018 // Catastrophe risk modeling firm AIR Worldwide (AIR) has released an updated Wildfire Model for the United States designed to provide a comprehensive view of the risk of wildfire to property within the 13 westernmost...
