Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Insurance Adjusters Brace for Cold Weather Claims
Dec 29 2011 // Though summer weather is associated with devastating catastrophe losses, the winter holiday season can be equally busy for insurance adjusters. The third-largest cause of catastrophic losses behind hurricanes and...
November Storms in Southern Alberta Caused $195 Million Insured Loss
Dec 29 2011 // Windstorms that hit southern Alberta in November have caused at least C$200 million [US$195] in insured damage, according to the Insurance Bureau of Canada. However, the estimate is preliminary, based on data from Property...
WTO Risks its Future by Keeping Doha Talks Alive
Dec 28 2011 // The 153 members of the World Trade Organization agree on two things: We’re in a hole. And we must keep digging. The hole is the Doha Development Round, a decade-old negotiation that was billed as the next stage of...
Insurers Worry 2012 Will Top 2011 for Record Weather Disasters
Dec 28 2011 // From floods that crippled countries, to mega cyclones, huge blizzards, killer tornadoes to famine-inducing droughts, 2011 has been another record-breaker for bad weather. While it is too early to predict what 2012 will be...
Nebraska, Iowa Towns Among Safest in U.S.
Dec 28 2011 // Several cities in Nebraska and Iowa made Farmers Insurance’s lists of the safer and most secure places to live in the country. The insurer ranked cities of different sizes based on crime rates, natural disaster...
Appeals Court Delays SEC-Citigroup Securities Fraud Case
Dec 28 2011 // The U.S. Securities and Exchange Commission won a delay in its securities fraud lawsuit against Citigroup Inc, as the regulator tries to appeal a judge’s decision to reject its $285 million settlement with the...
Court OKs AIG’s $450M Settlement Over Underreported Workers’ Comp Premiums
Dec 28 2011 // A federal judge has approved American International Group Inc.’s $450 million settlement with rival insurers to end litigation accusing AIG of underreporting premiums on workers’ compensation policies. AIG will...
FEMA to Give Partial Credit for Substandard Levees in Drawing Flood Zones
Dec 27 2011 // A levee isn’t perfect, but it exists and that should count for something when deciding if a property is at risk for flooding. That’s the position of the Federal Emergency Management Agency in a new proposal...
Catastrophes Erode P/C Insurers’ Results for 9 Months of 2011
Dec 27 2011 // Private U.S. property/casualty insurers’ net losses on underwriting grew to $34.9 billion in nine-months 2011 from $6.3 billion in nine-months 2010. The combined ratio deteriorated to 109.9 percent for nine-months...
Best Affirms Ratings of Sompo Japan and U.S. Subs; Outlook Stable
Dec 27 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Sompo Japan Insurance Inc. Best also, affirmed the FSR of...
Best Affirms Wind River Re, U.S. Subs Ratings; Outlook Stable
Dec 27 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Wind River Reinsurance Company, Ltd. and its U.S. subsidiaries....
Financial, Legal Woes Dogged Breast Implant Company
Dec 27 2011 // Signs of legal problems and financial losses surrounding the French breast implant manufacturer at the heart of a scandal affecting hundreds of thousands of women worldwide can be traced back as far back as 2003,...
U.S. Airlines and Lost Luggage Liability
Dec 26 2011 // With so many people flying over the holidays, there’s a good chance some of these travelers will end up at their final destination without their luggage. Nearly four of every 1,000 passengers filed a complaint about...
Ironshore Names Boren Head of U.S. Field Operations
Dec 22 2011 // Specialty insurer Ironshore Inc. has appointed Joseph L. Boren as executive vice president of Ironshore Insurance Holdings, LLC and as president of U.S. Field Operations. John O’Brien, currently president of...
Mines Must Disclose Safety Violations to Investors Under New SEC Rules
Dec 22 2011 // Mining companies will need to disclose to investors information about health and safety violations under new rules adopted on Wednesday by the U.S. Securities and Exchange Commission. The rules, which are required by last...
Ratings Roundup: Heritage, Euler Hermes (US)
Dec 22 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Calif.-based Heritage Indemnity Company, both with stable outlooks. The ratings of...
Ratings: Transsib Re, Tokio Marine Pacific, MAPFRE Panama, Union Nationale, Sovereign (NZ), Labuan Re, Tugu, ARIG
Dec 22 2011 // A.M. Best Europe – Rating Services Limited has upgraded the issuer credit rating to “bb+” from “bb” and affirmed the financial strength rating of B (Fair) of Russia’s OJSC Transsiberian...
Best Affirms Beazley and Lloyd’s Syndicates 2623, 623, 3623, 3622 Ratings
Dec 21 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Lloyd’s Syndicate 2623, Lloyd’s...
Fed Proposes Rules to Restrain Wall Street Risk-Taking
Dec 21 2011 // The Federal Reserve proposed new rules on Tuesday to restrain risk-taking by the largest U.S. banks as it tries to make the financial system more resilient against future crises. The proposal, required by the 2010...
Aon to Pay $16.2 Million to Settle Bribery Charges
Dec 21 2011 // Insurance brokerage firm Aon Corp. will pay $16.2 million to settle criminal and civil charges that it paid bribes to foreign government officials over more than two decades, the U.S. government said on Tuesday. Under a...
