Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Ironshore’s President, Chief Underwriter Resigns
Oct 30 2008 // Les Rock, president and chief underwriting officer of Ironshore Insurance Ltd., has resigned effective Oct. 31, 2008 for personal reasons. Howard Barnes, Peter Coleman and Rod Todd will continue to underwrite property...
China Says Greenhouse Gas Emissions Catch up with U.S.
Oct 29 2008 // China’s greenhouse gas emissions have caught up with the United States and will not fall any time soon, a top Chinese official said on Wednesday, while warning of a huge economic blow from global warming. The...
Wall Street Marks Grim Anniversary of 1929 Crash
Oct 29 2008 // Wall Street’s struggle to recover from this month’s devastating drop is coinciding with the anniversary of another dark period for the stock market — the crash of 1929. The dramatic selling of Oct. 28-29...
Aspen to Release Q3 Earnings Today; Conference Call Details
Oct 29 2008 // Bermuda’s Aspen Insurance Holdings Limited will release its third quarter 2008 financial results today, Wednesday, October 29, 2008, following the close of U.S. markets. The Company will hold a conference call to...
FDIC Could Become Federal Insurance Regulator, Says Chief
Oct 29 2008 // The Federal Deposit Insurance Corp.’s powers could be expanded if Congress decides to shift insurance companies from state regulation to federal regulation, FDIC Chairman Sheila Bair said Wednesday. Bair said the...
Travelers, Chubb Protest U.S. Aid for Insurers; Life Insurers Welcome Help
Oct 28 2008 // Property/casualty insurers Travelers Cos. Inc. and Chubb Corp. said they do not need federal financial assistance and chided other insurers pushing to be included in the $700 billion bailout. “Most companies in the...
U.S. Treasury Mulls Aid Program for Life, Bond, Mortgage Insurers
Oct 27 2008 // The Treasury Department is studying how it could give relief to insurance companies under a $700 billion financial services rescue package, two sources familiar with the deliberations said Friday. The Troubled Asset Relief...
Arkansas Insurance Company Owner Sentenced to 6 Years
Oct 27 2008 // The owner of a Little Rock, Ark., insurance company has been sentenced to six years in prison on a federal fraud conviction, the U.S. attorney’s office said. Frank Whitbeck, 61, also was ordered to pay $3.8 million...
Prudential Eyeing AIG Life Insurance Assets Beyond Asia, Says CEO
Oct 24 2008 // British life insurer Prudential is considering bidding for more than just the Asian operations of American International Group , its chief executive told the Financial Times on Friday. Prudential, the UK’s...
Hurricane, Investment Losses Cut Into Chubb’s Q3 Profit
Oct 24 2008 // Like many of its property/casualty competitors, Chubb Corp. saw its third quarter profit cut by investment losses and Hurricane Ike but the New Jersey-based insurer still emerged with $264 million in net income, $300...
Marsh Forms Agency to Serve Small U.S. Businesses
Oct 24 2008 // Large insurance broker Marsh has formed Marsh & McLennan Agency LLC, a new business dedicated to serving the insurance needs of small and emerging growth U.S. companies. The agency will conduct its business separately...
RMS Estimates Ike Insured Losses Now in $13B to $21B Range
Oct 24 2008 // California-based Risk Management Solutions (RMS) updated its estimate for U.S. onshore and offshore insured losses from Hurricane Ike to $13 billion to $21 billion, of which $10 billion to – $15 billion is estimated...
Lawmakers Blast Rating Agencies for Role in Financial Crisis
Oct 23 2008 // The top executive of Moody’s warned his board in 2007 that the quality of credit ratings was in danger due to trends that could “place the entire financial system at risk.” The confidential briefing was...
Jury Convicts Louisiana Woman in Money Laundering Scheme
Oct 23 2008 // A federal jury has convicted a woman of conspiring with a former Louisiana lawmaker to conceal her illegal operation of an insurance business by laundering money. Prosecutors contend Gwendolyn Moyo sold bogus construction...
Louisiana Money Laundering Case Deliberations Resume
Oct 22 2008 // A jury of six men and six women in New Orleans resumed deliberations Oct. 21 in the money laundering trial of Gwendolyn Moyo related to the alleged operation of an illegal insurance company. Moyo, 53, is accused of 41...
Survey: U.S. Firms Prepare for Rise in Litigation After Two Years of Declines
Oct 21 2008 // Following two straight years of reporting declines in the number of new lawsuits and regulatory proceedings — including a drop in large-dollar cases — U.S. companies now anticipate an uptick in new actions and...
Willis Report: California May See Less Shaking in Earthquake
Oct 21 2008 // Willis Group Holdings, a global insurance broker, has released a report summarizing recent changes in the scientific view of seismic hazard in the United States. The report has been added to the curriculum of the Associate...
Lawmaker Wants Details on How AIG is Spending U.S. Loan
Oct 20 2008 // A top U.S. lawmaker has asked the chief executive of American International Group for details on how the company has used its $123 billion of taxpayer rescue funding so far. Rep. Henry Waxman, chairman of the U.S. House...
Reputational Risk: Is It Time for Bankers to Risk an Apology?
Oct 20 2008 // No-one expects a fallen Master of the Universe to say sorry. But academics say an apology — for all the litigation risk it entails — can be the basis of revitalised confidence and trust. With global markets...
Hurricanes, Credit Crunch Hit Louisiana, Texas Agriculture
Oct 20 2008 // Like farmers and ranchers across the United States, agriculture producers in Texas and Louisiana have been impacted by rising fuel and fertilizer costs, and they fear the credit squeeze gripping the nation will make it...
