Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Insurance Industry Challenged by Unexpected Weather
Feb 21 2011 // It’s a tough time to be in the $500 billion U.S. property insurance business. Storms are happening in places they never happened before, at intensities they have never reached before and at times of year when they...
Declarations
Feb 21 2011 // Significant Flooding Likely “It appears likely we’ll get moderate to major levels of flooding on the Mississippi.” — Mark Fuchs, a hydrologist for the National Weather Service, said towns along the...
People
Feb 21 2011 // Rodney Smith Lloyd’s of London has appointed Rodney Smith to serve as the regional director for Lloyd’s newly established Southeast region. Smith will be based in Atlanta, Georgia and be responsible for market...
Declarations
Feb 21 2011 // An Incremental Approach “We have been working on lawsuit reform for years, taking mostly an incremental approach.” —Oklahoma Sen. Anthony Sykes, R-Moore, chairman of the state Senate Judiciary Committee. The...
People
Feb 21 2011 // Mark D. Purfield New Jersey-based broker The McIntyre Group has named Mark D. Purfield as a marketing executive responsible for business development. Previously, Purfield was vice president of Wells Fargo Insurance...
Major Flooding Expected in North Central U.S.
Feb 18 2011 // A large swath of the country is at risk of moderate to major flooding this spring, from northeastern Montana through western Wisconsin following the Mississippi River south to St. Louis, National Weather Service flood...
Philadelphia Suit Alleges U.S. Catholic Leaders Failed to Protect Kids
Feb 18 2011 // A civil lawsuit filed this week against the Archdiocese of Philadelphia by a man who said two priests had sexually abused him as a child may signal a new era in church-abuse litigation in Pennsylvania. The Roman Catholic...
Regulators Warn Against Defunding Dodd-Frank Implementation
Feb 18 2011 // Republicans escalated their push to delay and defund the Dodd-Frank Wall Street reforms on Thursday as top regulators warned the U.S. Senate Banking Committee of a staff and funding crunch. The chiefs of major agencies...
SCOR Sells U.S. Fixed Annuity Business
Feb 17 2011 // French reinsurer SCOR Group announced that it is “disposing of its US Fixed Annuity business through the sale of its subsidiary Investors Insurance Corporation (IIC) for $55 million.” The entire share capital...
Study Warns Rising Seas Could Threaten 180 U.S. Cities by 2100
Feb 17 2011 // Rising seas spurred by climate change could threaten 180 U.S. coastal cities by 2100, a new study says, with Miami, New Orleans and Virginia Beach among those most severely affected. Previous studies have looked at where...
Allstate Sues JPMorgan Over Mortgage Securities Losses
Feb 17 2011 // Allstate Corp. sued JPMorgan Chase & Co. on Wednesday to recover losses after the bank allegedly misrepresented the risks on more than $757 million of mortgage securities the insurer bought. The lawsuit against the...
Minnesota Commissioner Appoints 4 to Leadership Team
Feb 15 2011 // Minnesota Commerce Commissioner Mike Rothman has announced the newest members of his leadership team. Rothman tapped attorney and experienced manager Steve Carlson to serve as Deputy Commissioner of Administration. Kevin...
Catlin US Names Ensign to Reinsurance Post
Feb 15 2011 // Atlanta-based Catlin US has appointed Steven Ensign as director of the Direct Property Facultative Department for its reinsurance operations in Hartford. Ensign has been with the Catlin Group and predecessor companies...
New Business Court Judge Rattles Lawyers in Shareholder Suits
Feb 15 2011 // Lawyers involved in corporate litigation understandably might want to avoid the newest judge on one of the top U.S. business courts. The judge, Vice Chancellor Travis Laster, has brought some unusual tactics to the bench...
Louisiana Presses BP for Oyster Money
Feb 11 2011 // Louisiana’s congressional delegation is asking BP to help Louisiana’s oyster industry immediately. In November, Louisiana asked BP PLC to give it $15 million so the state could start repairing oyster beds...
Best Comments on Ratings of Chartis U.S. Insurance Group
Feb 11 2011 // Best Comments on Ratings of Chartis U.S. Insurance Group A.M. Best Co. has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of the New York-based...
S&P Sees No Rating Change for AIG from $4.1 Billion Charge
Feb 11 2011 // Standard & Poor’s Ratings Services announced that its ratings on American International Group Inc. (A-/Negative/A-2) and AIG’s insurance subsidiaries “are not affected by the company’s...
Bidmead Named CEO of Marsh U.S. Retail Operations
Feb 10 2011 // Marsh Inc. has appointed David Bidmead to the newly-created role of CEO of Marsh U.S. In this capacity, Bidmead will guide Marsh’s U.S. retail brokerage operations. He will report to Joe McSweeny, president of Marsh...
Pirates Hijack U.S.-bound Oil Tanker off Oman
Feb 10 2011 // Suspected Somali pirates captured a U.S.-bound tanker carrying around $200 million worth of crude oil in the Indian Ocean on Wednesday in one of the biggest hijackings in the area so far. The Irene SL, the length of three...
Catlin Group 2010 Profits Fall to $406 Million on Cat Losses
Feb 10 2011 // The Bermuda-based (London headquartered) Catlin Group Limited reported net profits before tax in 2010 of $406 million, compared to $603 million in 2009, primarily due to a significant increase in catastrophe losses last...
