Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Hudson Taps Atlanta-Based Moreman to Establish Subcontractor Default Business
Oct 3 2017 // Hudson Insurance Group has added Wallace Moreman as senior vice president. In this new position, Moreman will establish a subcontractor default insurance (SDI) business for Hudson. Christopher Gallagher, president and CEO...
Hurricane Claim Insurance Checks Drive New Car Sales
Oct 2 2017 // As Hurricane Harvey poured on Houston, Frank Rodriguez feared for his 2014 GMC Sierra. Once he saw the pickup’s soaking-wet interior and center console full of water, he knew it was a lost cause. He just hoped his...
Finance Industry Sues to End U.S. Rule Curbing Forced Arbitration for Consumers
Oct 2 2017 // A coalition of corporate lobbying groups, led by the U.S. Chamber of Commerce, sued the Consumer Financial Protection Bureau to overturn a rule that makes it easier for aggrieved customers to file lawsuits against...
Heffernan Insurance Brokers Opens London Unit, Led by JLT’s Murrell
Oct 2 2017 // Heffernan Insurance Brokers, the Walnut Creek, Calif.-based independent insurance broker, announced it has opened a London brokerage, Heffernan Brokers UK Ltd., led by Nick Murrell as executive vice president. Murrell...
U.S. Regulator Lifts Systemic Risk Tag on Slimmed-Down AIG
Oct 2 2017 // American International Group Inc. is no longer too big to fail. That was the ruling Friday from the Financial Stability Oversight Council, which said AIG, whose collapse in 2008 reverberated throughout the U.S. economy,...
Court Overturns $663 Million Fraud Judgment Against Guardrail Maker Trinity
Oct 2 2017 // Trinity Industries Inc. won’t have to pay a $663 million judgment that was awarded in a whistleblower lawsuit alleging the company defrauded the U.S. government with a faulty highway guardrail safety system. A...
Declarations
Oct 2 2017 // Wakeup Call “The Equifax breach was a wakeup call, and with this action, New York is raising the bar for consumer protections that we hope will be replicated across the nation.” — New York Governor Andrew...
Puerto Rico Power Outage to Mean More Business Interruption Claims
Oct 1 2017 // Puerto Rico’s island-wide power outage will mean a surge in insurance claims for lost business income that will increase the already high cost of damage caused by Hurricane Maria, likely tipping some big reinsurers...
North Carolina’s Outer Banks Reopened as Maria Heads Out to Sea
Sep 29 2017 // Maria was finally racing east over the Atlantic on Thursday, giving the United States a rest from the constant threat of tropical weather for more than a month. No injuries have been reported on the U.S. mainland from...
Canada’s Intact Financial Completes OneBeacon Acquisition; Vows to Grow Specialty Insurer
Sep 29 2017 // Intact Financial Corp. said it has completed its acquisition of U.S. specialty insurer OneBeacon Insurance Group from Bermuda-based White Mountains Insurance Group. The purchase price was C$2.3 billion (US$1.7...
RMS Estimates Hurricane Maria’s Insured Losses Will Range Between $15B and $30B
Sep 29 2017 // RMS, the Newark, Calif.-based risk modeling and analytics firm, estimated that the insured loss from Hurricane Maria will be between US$15 billion and US$30 billion. This estimate represents the insured losses associated...
Beazley Estimates $150M Earnings Hit From Hurricanes, Earthquakes
Sep 29 2017 // Lloyd’s of London insurer Beazley said on Friday it reckoned that its losses from hurricanes Harvey, Irma and Maria in the Caribbean and southern United States and a series of earthquakes in Mexico would reduce its...
Half of U.S. Businesses Report Being Hacked
Sep 29 2017 // More than half of U.S. businesses (53 percent) have experienced a cyber attack in the past year, according to a survey of business executives. The nationwide survey, released by The Hartford Steam Boiler Inspection and...
Study Says Climate Change Could Lead to Rougher Roads
Sep 28 2017 // Expect some rough roads ahead. Literally, if a new study is any indication of how U.S. roads as they are currently being built might fare in a warmer world. A study by professors at Arizona State University shows that...
Key Committee Senators Reach Deal on Autonomous Vehicle Bill
Sep 28 2017 // Two U.S. senators said late on Wednesday that they had reached a bipartisan deal on legislation aimed at easing hurdles to getting self-driving cars to drivers. U.S. Senator John Thune, a Republican who chairs the Commerce...
PERILS Raises Insured Loss Estimate for Cyclone Debbie to A$1.7B (US$1.34B)
Sep 28 2017 // The property insurance market’s loss for tropical cyclone Debbie has risen to A$1.7 billion (US$1.34 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe...
Syngenta Settles With U.S. Farmers in China Corn Trade Case
Sep 28 2017 // Swiss agribusiness giant Syngenta said it has agreed to settle tens of thousands of U.S. lawsuits by farmers over the company’s rollout of a genetically engineered corn seed variety before China approved it for...
Workers’ Compensation Insurers Report Slow Growth: A.M. Best
Sep 27 2017 // The workers’ compensation industry reported a record high $58.5 billion in direct premiums written in 2016 but year-after-year growth slowed for the first time in five years. According to an A.M. Best report, the...
Trump Administration Argues U.S. Civil Rights Law Does Not Protect Gay Employees
Sep 27 2017 // The U.S. law that has protected workers from gender and racial bias for more than half a century should not be extended to cover gay and lesbian employees because that isn’t what Congress envisioned when it passed...
U.S. Balks at China Cybersecurity Law, Fears It Will Hurt Global Trade
Sep 27 2017 // The United States has asked China not to implement its new cyber security law and is concerned it could damage global trade in services, a U.S. document published by the World Trade Organization showed on Tuesday. China...
