Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
US Safety Regulator Warns about Counterfeit Airbags
Oct 10 2012 // The U.S. safety regulator issued a warning on Wednesday to consumers with repaired vehicles that they may have air bags that don’t inflate in an accident. The National Highway Traffic Safety Administration said...
U.S. Sues Wells Fargo in Civil Mortgage FIRREA Fraud Case
Oct 10 2012 // The U.S. government filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co, the latest legal volley against big banks for their lending during the housing boom. The complaint, brought by the U.S....
Kaufman Financial Group Acquires Premium Insurance Auditor
Oct 9 2012 // The H.W. Kaufman Financial Group announced the acquisition of Mertens Enterprises Inc. (DBA Tracz & Associates), a provider of premium insurance audit services headquartered in Lockport, Ill. The transaction closed on...
U.S. Insurers Say Fraud Costs on the Rise: Survey
Oct 9 2012 // Forty-five percent of insurers estimated that insurance fraud costs represent 5-10 percent of their claims volume, while 32 percent said the ratio is as high as 20 percent. This is according to a survey of U.S. insurers...
Supreme Court Refuses Review of Telecom Immunity Surveillance Case
Oct 9 2012 // The U.S. Supreme Court on Tuesday refused to consider a challenge to a 2008 federal law granting immunity to AT&T Inc and other telecommunications companies for helping the government eavesdrop on customers’...
Slow and Steady: Optimism Good for Surplus Lines Market in 2012
Oct 9 2012 // Despite catastrophic events in 2011, low investment yields and competitive pressures, surplus lines specialists — especially market leaders — generated healthy operating profits and returns on both revenue and...
Ratings Recap: Sirius (US), HDI-Gerling (US), Permanent General, Lexon/Bond Safeguard, Selective(NJ)
Oct 8 2012 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of new York-based Sirius America Insurance Company, both with stable outlooks. Sirius...
Best Affirms OneBeacon and Subs Group Ratings; White Mountains
Oct 8 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of OneBeacon Insurance Company and its six pooled and four reinsured...
Gulf States Pressure Obama Over BP Spill Settlement Funds
Oct 8 2012 // Senators from the U.S. Gulf Coast urged President Barack Obama on Friday to ensure that any legal settlement for the 2010 Gulf of Mexico oil spill does not undermine a recently passed law that would funnel billions of...
Florida Justices Say Fair Court System Being Threatened
Oct 8 2012 // Three state Supreme Court justices being targeted by Republicans and other conservatives said Friday that such partisan and special interest attacks are threatening the independence and fairness of Florida’s judicial...
Louisiana Senator Blasts BP, Coast Guard Over Spill Cleanup
Oct 8 2012 // Louisiana’s Republican U.S. senator recently blasted oil giant BP PLC for what he called its attempt to run from its full cleanup responsibilities for the nation’s worst offshore spill, the 2010 disaster that...
Business Moves – East
Oct 8 2012 // USI, TD Insurance USI Insurance Services, a brokerage and financial services firm in Briarcliff Manor, N.Y., said on Sept. 24 that it has completed the acquisition of TD Insurance Inc., a U.S. subsidiary of TD Bank, N.A....
ANV Settles in as Lloyd’s MGA, as Capacity and Syndicates Grow
Oct 8 2012 // There are now 78 operating syndicates at Lloyd’s; 88, including Special Purpose and RITC syndicates. Although no new ones have so far joined Lloyd’s this year; three syndicates have transferred ownership:...
Will Regulatory Reform Trigger Doomsday for Captives?
Oct 8 2012 // If you’re startled by this headline, you’re not alone. Until recently, the words “reform” and “captive” were rarely used in the same sentence. That’s because captive insurance...
People – West
Oct 8 2012 // U.S. Risk Insurance Group Inc. named Tim Troester vice president and branch manager for the newly formed Portland, Ore., branch of U.S. Risk Brokers Inc. Troester’s focus at U.S. Risk will be to develop relationships...
Studies: More Than 2 M California Homes Exposed To Wildfires; Hundreds of Thousands in West at ‘Very High Risk’
Oct 8 2012 // More than 2 million homes in California face “extreme wildfire hazards,” over 400,000 of which are in Los Angeles County, according to a study from an insurance industry group. A separate study shows at least...
Chairman Nelson Charts Future Course for Lloyd’s
Oct 8 2012 // Lloyd’s of London Chairman John Nelson knew when he acceded to his post one year ago that his predecessor, Lord Peter Levene, would be a hard act to follow. Levene served for nine years and oversaw significant...
Report Points to Insurance Industry’s Vulnerability to Climate Change
Oct 8 2012 // A report out late last month urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change. In short, the report, its authors and those...
A Growing Economy
Oct 8 2012 // Media reports notwithstanding, the U.S. economy, while sluggish, is not in danger of going over the fiscal cliff. That’s according to a couple of insurance industry executives, who say that private sector job hiring...
Slow and Steady: Surplus Lines Industry Reverses Downward Trend; Optimism Good for 2012
Oct 8 2012 // Despite catastrophic events in 2011, low investment yields and competitive pressures, surplus lines specialists — especially market leaders — generated healthy operating profits and returns on both revenue and...
