Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Best Affirms Torus Insurance Holdings and Operating Subs Ratings
Nov 9 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Torus Insurance (Bermuda) Limited, Torus...
Torus Launches U.S. Professional, Management Liability Products
Nov 8 2011 // Torus now has U.S. professional and management liability primary underwriting capabilities. Led by Jeffrey Grange, senior vice president, head of professional lines, the offering includes products across three segments:...
Appeals Court Upholds Obama Healthcare Law
Nov 8 2011 // President Barack Obama’s signature healthcare law got a boost Tuesday when a U.S. appeals court agreed with a lower court that dismissed a challenge and found the law’s minimum coverage requirement was...
Moody’s Reports on Proposed Systemic Risk Rules for Insurers
Nov 8 2011 // A key ratings agency says that recently proposed guidelines for identifying which insurers would qualify as systemic risks represent an important first step in improved federal regulation of financial institutions. The...
Listeria Lawsuits Could Target Grocers, Auditor
Nov 8 2011 // An outbreak of listeria in cantaloupe blamed for the deaths of 29 people could be costly for grocery stores, a distributor and an auditing lab. Whole or pre-cut Rocky Ford-brand cantaloupe from Colorado-based Jensen Farms...
Health Costs of U.S. Climate Disasters of Last Decade: $14 Billion
Nov 8 2011 // Deaths and health problems from floods, drought and other U.S. disasters related to climate change cost an estimated $14 billion over the last decade, researchers said Monday. “When extreme weather hits, we hear...
Insurance Groups Laud State Regulators’ Action to Reduce Reinsurance Collateral
Nov 8 2011 // State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral. The new rules and regulations, which have taken 12 years to...
Accounting Board May Change its ‘Fair Value’ Rule
Nov 8 2011 // A global accounting rule rushed through after pressure from politicians during the financial crisis may have to be tweaked, sparking disruption for investors and companies. The International Accounting Standards Board...
Investors Want ‘Secrecy’ Lifted in BofA Mortgage Securities Deal
Nov 7 2011 // Investors want to lift the “shroud of secrecy” over the proposed $8.5 billion settlement of Bank of America Corp.’s mortgage-backed securities liability in the coming weeks, a lawyer said last week. Dan...
Death Toll from U.S. Cantaloupe Listeria Outbreak Rises
Nov 7 2011 // The death toll linked to listeria-contaminated cantaloupes in the United States reached 28 in late October, the Centers for Disease Control and Prevention said. Whole or pre-cut Rocky Ford-brand cantaloupe from...
NOAA: U.S. Values Hawaii Reefs at $33.57 Billion
Nov 7 2011 // Americans peg the value of coral reefs around the main Hawaiian Islands at $33.57 billion, according to a study commissioned by the federal government. Officials frequently cite coral reefs as being vital to tourism and...
People
Nov 7 2011 // Westfield Insurance, headquartered in Westfield, Ohio, selected Dennis Baus to lead the company’s surety operations. Baus assumes the national surety leader responsibilities on Jan. 1, 2012, replacing Rick Kinnaird...
The Demotech Company Classification System Reveals State Specialist Property/Casualty Insurers
Nov 7 2011 // Company Name State of Speciality 2010 TOTAL DPW Texas Mutual Insurance Co. TX 596,191 Old American County Mutual Fire Insurance Co. TX 575,100 SAIF Corporation OR 327,373 St. Johns Insurance Co. Inc. FL 257,106 Brickstreet...
Auto Insurers Keep Eye on Cross-Border Claims with Canada
Nov 7 2011 // Staged automobile accidents in Canada’s most populated province of Ontario pose a unique problem for American auto insurers that must deal with Ontario’s stringent no-fault benefits. Some U.S.-based adjusters...
Mexican Truck Finally Enters U.S. Under NAFTA
Nov 7 2011 // The first Mexican long-haul truck bound for the U.S. interior crossed at the international bridge at Laredo, Texas, in late October, carrying electronic equipment destined for suburban Dallas and fulfilling a controversial...
Judge Blocks San Francisco’s Cell Phone Warning
Nov 7 2011 // A U.S. judge has blocked most of a San Francisco ordinance that required warnings about cell phone safety risks, saying it violated the First Amendment. Health questions about cell phone use grew this year after a group of...
Women Launch New Legal Salvo Against Wal-Mart
Nov 7 2011 // Women pursuing discrimination claims against Arkansas-based Wal-Mart Stores Inc. filed a reformulated lawsuit against the retailer, their first since a massive nationwide class action collapsed earlier this year. The...
Association Founder Urena Still on Mission to ‘Latino-ize’ Insurance
Nov 7 2011 // The narrative of Andre Urena’s life is told in a series of lessons, many handed down from his peasant-turned-bank president father Alvaro. His father died in December-but not before having a heavy hand in shaping his...
AIG Says Commercial Line Rate Hike Is Accelerating
Nov 4 2011 // American International Group said its U.S. commercial line rates are increasing at an accelerated pace. A number of other major insurers have been offering similar observations in this earnings season. “In U.S....
BP Products to Pay $50M for Illegal Emissions at Texas City Refinery
Nov 4 2011 // BP Products North America Inc. will pay the state of Texas $50 million for unlawfully emitting pollutants during and after a March 2005 explosion at the company’s Texas City refinery, according to the Texas Attorney...
