Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
8th Circuit Affirms Arkansas Court Ruling in Products Liability Case
Nov 5 2009 // The U.S. Court of Appeals for the 8th Circuit has upheld Arkansas district court decisions in a products liability case against pharmaceutical companies that are the makers of hormone therapy drugs that, combined, have...
U.S. Pay Czar to Decide on Clawback
Nov 4 2009 // The U.S. pay czar said Monday that he will determine “in the near future” how he will use his power to claw back pay at companies that have taken bailout money but is not currently in negotiations to do...
U.S. Rep. Kanjorski Favors Curbing Size of Financial Firms
Nov 4 2009 // The government should have the authority to break up or reconstruct financial firms before they become “too big to fail,” a prominent U.S. lawmaker said on Tuesday. The House Financial Services Committee is...
Ratings Roundup: Harbor Point Re, Travelers (UK), Sovag
Nov 4 2009 // Standard & Poor’s Ratings Services has revised its outlook on Bermuda-based reinsurer Harbor Point Re Ltd. and its U.S.-based subsidiary Harbor Point Reinsurance U.S. Inc. to stable from negative. S&P also...
IRS to Audit Large Companies on Tax, Independent Contractor Issues
Nov 3 2009 // U.S. tax authorities will start to audit 6,000 randomly selected companies to focus on employment tax issues ranging from executive compensation to fringe benefits, Internal Revenue Service officials said. The audits will...
UN Climate Change Talks Resume as Time Runs Out for Deal
Nov 2 2009 // Time has almost run out to break the deadlock on a U.N. climate deal supposed to be struck in Copenhagen next month, the United Nations and Denmark warned negotiators at a final preparatory meeting on Monday. “The...
Delaware Beats Switzerland As Most Secretive Financial Center
Nov 2 2009 // Move over Switzerland. The tiny U.S. state of Delaware beats the Alpine country in a contest for the most secretive financial jurisdiction, a tax justice rights group said. The United States, led by the eastern seaboard...
BP Refinery in Texas Hit with Record $87 Million Fine for Safety Violations
Nov 2 2009 // U.S. safety regulators on Friday hit oil giant BP with a record $87.4- million fine for failing to fix safety violations at its Texas City, Texas, refinery after a deadly 2005 explosion. In announcing the fines, U.S. Labor...
Small Business Owners See Their Firms Leading Recovery Next 2 Years
Nov 2 2009 // Looking out 12 to 24 months, small business owners say their companies will emerge from the recession strong and well positioned for growth over the next two years, leading the U.S. to economic recovery. According to new...
Rose and Warner Join Beazley’s Builders’ Risk Unit in Chicago
Nov 2 2009 // Beazley is expanding its U.S. property insurance business with the creation of a dedicated Builders’ Risk team to be located in Chicago, Ill. Colin Rose, a senior underwriter from the London Construction and...
El Niño to Influence Winter, Or Not, Say Forecasters
Nov 1 2009 // It will be a tale of two winters in the United States – warmer and drier than average in the North and wetter and cooler in the South – thanks to El Niño, according to government forecasters. In its winter...
U.S. Says Chinese Officials Helping with Probe of Tainted Drywall
Nov 1 2009 // China is helping American officials investigate reports of contaminated Chinese drywall after thousands of American homeowners complained the building material made them sick or damaged their houses, a top U.S. safety...
Business Moves
Nov 1 2009 // Combined Agents, First Texas, Lake Combined Agents of America LLC (CAA), based in Austin, Texas, has added two new members: First Texas Insurance Services LC of Arlington, Texas; and Lake Insurance Agency Inc. of Laverne,...
Business Moves
Nov 1 2009 // AmTrust, American Capital, GMAC AmTrust Financial Services, Inc. is making an investment in American Capital Acquisition Corp. in connection with the acquisition by ACAC of GMAC’s U.S. consumer property/ casualty...
Best Affirms Hiscox Operating Companies ‘A’ Ratings; Outlook Stable
Oct 30 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSRs) of ‘A’ (Excellent) and issuer credit ratings (ICRs) of “a” of Hiscox Insurance Company (Bermuda) Limited, the UK-based Hiscox...
House Healthcare Overhaul Unveiled
Oct 30 2009 // Democrats in the House unveiled a sweeping healthcare overhaul Thursday that would transform the insurance market, create a government-run insurance plan and levy new taxes on the rich. Weeks of closed-door negotiations to...
Georgia Workers’ Compensation Insurer Southeastern US Faces Liquidation
Oct 29 2009 // A workers’ compensation insurer for 3,000 public entities, hospitals, private companies and associations in Georgia has been declared insolvent and will be liquidated. Fulton County Superior Court Judge Thomas...
ACE Limited Posts $494 Million Q3 Net; Conference Call Today
Oct 28 2009 // The Swiss mountain air seems to agree with ACE Limited, as it reported net income for the third quarter of $494 million, or $1.46 per share, compared with $0.16 per share for the same quarter last year, an increase of 813...
Minnesota Judge Rules Federal Law Blocks Medtronic Heart Device Suits
Oct 28 2009 // A Minnesota state court judge has dismissed a batch of lawsuits against Medtronic Inc. stemming from the October 2007 recall of the medical device maker’s Sprint Fidelis defibrillator leads. Minnesota District Court...
U.S. Insurance Commissioners Host 13 International Regulatory Interns
Oct 28 2009 // The organization of state insurance commissioners welcomed 13 interns from Azerbaijan, China, Egypt, Saudi Arabia, Thailand and Zambia to the U.S. this week. The National Association of Insurance Commissioners (NAIC) has...
