Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Workers’ Compensation Results Likely to Weaken Next Year: Fitch
Aug 9 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 rather...
Barbados Ex-Minister Charged in U.S. with Laundering Bribes from Insurer
Aug 9 2018 // A former minister in the government of Barbados has been criminally charged in the United States with laundering bribes he received from a Barbadian insurance company, federal prosecutors said on Monday. Donville Inniss,...
Gig Firms Want California to Override Court Ruling
Aug 8 2018 // Leading gig economy companies including Uber and Lyft are quietly lobbying California’s top Democrats to override or undermine a court ruling that could make many of their contract workers into employees. In April,...
Major Post-Brexit Risk: UK’s $33.5B of Financial Services Exports to EU
Aug 8 2018 // Britain must avoid tying Brussels up in red tape or antagonizing its soon to be former European Union partners and the United States if it is to maintain access to the bloc’s financial services market after...
First Jury Weighs Cancer Claims Against Monsanto’s Roundup
Aug 8 2018 // A trial in which a school groundskeeper alleged that his use of Monsanto’s Roundup weed killer caused his terminal cancer will go to a California jury after lawyers for both sides delivered their closing arguments on...
One Drugmaker Sues Another to Pay Damages from Opioid Marketing Lawsuits
Aug 8 2018 // Allergan Plc on Thursday sued Pfizer Inc. to require its rival to cover any damages it is forced to pay as a result of hundreds of lawsuits claiming Allergan deceptively marketed an opioid it acquired from a company Pfizer...
Judge Sends Oklahoma’s Lawsuit Against Opioid Makers Back to State Court
Aug 7 2018 // U.S. judge has determined that a lawsuit the state of Oklahoma filed against the makers of opioids does not “necessarily rise” to a federal issue. The ruling by U.S. District Judge Vicki Miles-LaGrange in...
Aspen’s Restructuring Continues – To Improve Results, Preserve Shareholder Value
Aug 7 2018 // The chief executive of Aspen Insurance Holdings Limited described business changes to Aspen’s Lloyd’s insurance book last week, while neither unequivocally confirming or denying rumors that a deal to sell the...
U.S. Passengers File Lawsuits Against Aeromexico over Plane Crash
Aug 7 2018 // Eleven U.S. passengers who survived an Aeromexico crash in the northern Mexican state of Durango on July 31 filed lawsuits against the airline in Chicago on Monday, according to a statement by Chicago-based attorneys...
Catastrophe Bonds – A to Z
Aug 7 2018 // A reader of this publication, the president of an insurance agency, recently wrote to say he kept hearing about catastrophe bonds but had little knowledge of what they were. He was curious if these instruments would...
PCI: Majority of Texans Not Prepared for Hurricane Season
Aug 6 2018 // A large majority of Texas residents are not taking necessary steps to protect their property this hurricane season despite the aftermath of Hurricane Harvey, according to a new poll conducted online by SurveyMonkey on...
BNSF Settles Suit from Montana Derailment Agreeing to Pay $750K on Repairs
Aug 6 2018 // BNSF Railway has agreed to pay the U.S. government $200,000 and spend up to $750,000 on road repairs to settle claims that the company failed to pay for damages caused by a 2011 train derailment in northwestern Montana,...
Taiwan iPhone Chipmaker Scrambles to Recover After Debilitating Computer Virus
Aug 6 2018 // Taiwan Semiconductor Manufacturing Co. (TSMC), which makes chips for the iPhone and other devices, is recovering from a debilitating computer virus but warned of delayed shipments and reduced revenue because of the impact...
Berkshire’s Q2 Insurance Profit Rises to $943M Compared to Loss of $22M in Q2 2017
Aug 6 2018 // This year’s looking brighter for Berkshire Hathaway Inc.’s insurance businesses after 2017’s hurricanes led to the first annual underwriting loss in more than a decade. Auto insurer Geico and the...
Jury Orders Pork Producer to Pay $473.5M in North Carolina Nuisance Lawsuit
Aug 6 2018 // A federal jury decided Friday 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,...
Flood Model Changes Help Hiscox Re & ILS Enter U.S. Flood Market
Aug 6 2018 // Less than 12 percent of U.S. homeowners have a flood insurance policy, despite the fact that flooding is the country’s most common natural disaster, said Katy Sivyer, underwriter for North America and the Caribbean...
Laptop Battery Fire in Checked Luggage Could Bring Down an Airliner: Study
Aug 3 2018 // A single personal electronic device that overheats and catches fire in checked luggage on an airliner can overpower the aircraft’s fire suppression system, potentially creating a fire that could rage uncontrolled,...
Atlantic Hurricane Season Had Early Start, but Fewer Storms Are Expected
Aug 3 2018 // The Atlantic hurricane season may have gotten off to an early start this year, but it’ll probably end with a whimper — at least when it comes to the total number of storms. Twelve named storms are likely to...
Allianz Beats Q2 Profit Estimates with Help of PIMCO Bond Fund Unit
Aug 3 2018 // Allianz SE said strong growth across its businesses lifted second-quarter profit as Europe’s largest insurer keeps the market waiting on any acquisitions it will undertake. The gains help keep Allianz on track to...
Wells Fargo Agrees to Pay $2.09B to Settle U.S. Probe into Mortgage Sales Abuses
Aug 3 2018 // Ten years after faulty mortgages upended the global financial system, Wells Fargo & Co. agreed to pay $2.09 billion to settle a U.S. probe into its creation and sale of loans that contributed to the disaster. The...
