Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Supreme Court to Hear Federal Healthcare Mandate
Sep 27 2011 // The Obama administration Monday cleared the way for the Supreme Court to decide in its 2011-12 term the president’s signature healthcare law that requires Americans to buy insurance or face a penalty. A Justice...
Best Affirms FM Global Group and Members ‘A+’ Ratings
Sep 26 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of ‘aa’ of FM Global Group (FM Global) and its members, which includes the lead...
Marsh Names Flynn CEO of U.S. Consumer Unit
Sep 26 2011 // Insurance broker Marsh has appointed Liz Flynn to the role of president and CEO of its U.S. consumer business, effective Oct. 1. In her new role, Flynn will oversee all Marsh U.S. consumer operations consisting of four...
Former Head of Liberty Title in N.Y. Sentenced to 20 Months in Prison
Sep 26 2011 // Former president and co-founder of title insurance agency Liberty Title, Brian Madden, has been sentenced to 20 months in prison for misappropriating and embezzling escrow and other client funds from Liberty Title and two...
Mortgages At Risk If Flood Insurance Program Expires
Sep 26 2011 // The federal program that insures homes against flood damage expires next Friday and is at risk of not being renewed, even as an early fall storm threatens to inundate much of the northeastern United States yet...
Texas Car Dealer Convicted in Title Washing Scheme
Sep 23 2011 // A federal jury in Texas has convicted a car dealer from Rowlett for ‘title washing,’ a fraudulent process through which a vehicle’s title is corruptly altered to conceal information that should normally...
Florida Firm to Appeal in Bid for Sunken Spanish Treasure
Sep 23 2011 // U.S. deep-sea explorers must turn over to the Spanish government 17 tons of silver coins and other treasure recovered from a sunken Spanish galleon in 2007, a federal appeals court ruled Wednesday. But Tampa, Florida-based...
Falling Satellites? Uncle Sam’s Got It Covered, Mostly
Sep 22 2011 // When, where and how much, if any, damage will be caused by about 1,200 pounds worth of falling satellite debris poses some interesting questions–including for the insurance industry. Likely coming in at No. 1 on the...
California Homeowners’ Suit Against Builders Revived
Sep 22 2011 // A federal appeals court revived a lawsuit by homeowners who accused eight major homebuilders of causing them to overpay for their homes by marketing nearby houses to high-risk borrowers who later went into...
AIG Appoints Former IRS Attorney as Deputy Tax Director
Sep 22 2011 // American International Group Inc. (AIG) has hired Clarissa Potter, former deputy chief counsel at U.S. Internal Revenue Service and former law professor, as deputy tax director. In this role, Potter will be responsible for...
How Federal Reserve’s Move Hurts Life Insurers
Sep 22 2011 // The Federal Reserve’s latest move to stimulate credit for consumers and businesses, known as Operation Twist, is likely to threaten the earnings of some of the country’s largest insurers for years to come. Wall...
Politicians, Investors Worry Over Shrinking Middle Class, Role of Social Media
Sep 22 2011 // The rising gap between rich and poor in nearly every country, rich or poor, went largely ignored during the decades of globalization-fueled boom. But with large parts of the world in financial crisis, ending the time when...
Selective to Acquire Montpelier Re E&S Unit for $55M
Sep 21 2011 // Selective Insurance Group is acquiring Montpelier U.S. Insurance Company (acronym MUSIC), an excess-and-surplus lines unit from Montpelier Re U.S. Holdings Ltd., for $55 million. Selective said the deal would be completed...
Zurich to Offer Contract Litigation Insurance for Real Estate Firms
Sep 21 2011 // Zurich, a provider of property and casualty insurance in North America and globally, now offers Contract Litigation Insurance (CLI). According to the Bureau of Justice Statistics, the most common form of civil litigation...
U.S. Risk Acquires American Special Risk of California
Sep 21 2011 // Woodland Hills, Calif.-based American Special Risk Insurance Services has been acquired by managing general agency and surplus line wholesaler U.S. Risk Insurance Group Inc. American Special Risk is a managing general...
U.S. RE Executive Joins N.Y. Reinsurance Broker Holborn
Sep 21 2011 // Independent reinsurance broker Holborn Corp. has appointed Arthur Dougherty as a senior vice president in the firm’s New York City headquarters. Dougherty is an industry veteran, having worked more than three decades...
Cooper Gay Swett & Crawford: A Global Broker Pioneers a New Path
Sep 21 2011 // Cooper Gay Swett & Crawford (CGSC) is the largest independent (i.e. privately owned by its employees and private equity funds) global wholesale and reinsurance broker. Over 1,400 professionals work in some 60 offices...
Consumers Not Required to Arbitrate Warranty Claims with Car Dealers: Court
Sep 21 2011 // A federal appeals court handed car owners a victory by striking down a requirement that they arbitrate warranty disputes with dealers. Reversing a lower court ruling, the 9th U.S. Circuit Court of Appeals agreed with a...
Former Controller for Texas Insurer Sentenced for Wire Fraud Scheme
Sep 20 2011 // The former controller for a Houston-based property/casualty insurance company has been sentenced to 120 months in federal prison for her conviction of conspiracy to commit wire fraud involving almost $1 million in loss to...
Italy Downgrade, Greek Worry Dominate Europe’s Financial Markets
Sep 20 2011 // Standard & Poor’s downgrading of Italian debt hit the euro on Tuesday, although stock investors shrugged off the move to push European stocks higher. Markets remain on edge about Greece’s rickety finances...
