Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Business Moves
Oct 6 2008 // Liberty Mutual, Safeco Boston-based Liberty Mutual Group finalized its acquisition of Seattle, Washington-based Safeco Corp. on Sept. 22 after entering the agreement in April. While improving its scale and geographic...
More to Come in Busy Atlantic Hurricane Season
Oct 6 2008 // The 10 tropical storms and hurricanes that ripped through the Atlantic and Caribbean during this busy hurricane season savaged Haiti, Cuba and the U.S. Gulf coast, and conditions are now ripe for more. Residents of the...
Crane Safety Guidelines Needed
Oct 6 2008 // In March 2008 a construction crane collapsed into a neighborhood bar and nearby apartments in New York City, killing seven people. In Bellevue, Wash., in June 2006, a large crane fell into an apartment building killing a...
Crane Safety Guidelines Needed
Oct 6 2008 // In March 2008 a construction crane collapsed into a neighborhood bar and nearby apartments in New York City, killing seven people. In Bellevue, Wash., in June 2006, a large crane fell into an apartment building killing a...
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Oct 6 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...
To Tax or Not to Tax – Battling Coalitions Dispute Bermuda ‘Loophole’
Oct 6 2008 // Claims Managers ‘Don’t Like Ike’ as Losses from the Hurricane Pile Up on Top of Gustav’s Whatever goes around comes around, and in an election year it was almost inevitable that somebody would...
AIG: Picking at the Pieces
Oct 6 2008 // Speculation Abounds as AIG Readies to Sell Off Assets For the moment, giant American International Group (AIG) lives on government life support, for which it’s paying 850 basis points (8.5 percent) over LIBOR,...
Wells Fargo Agrees to Buy All Wachovia Operations; Citi Deal Off?
Oct 3 2008 // Wells Fargo & Co. said it agreed to buy Wachovia Corp. for about $15.1 billion, without U.S. government help, thwarting a planned Citigroup Inc deal that had been seen as big boost for both Citi and Wachovia. Wells...
Texas Law Firm Pleads Guilty to Role in Staged Accident Scheme
Oct 3 2008 // Trey Allen, P.C., a professional corporation, which was previously known as the Law Office of John H. Allen, III, P.C., pled guilty in federal court before U.S. Magistrate Judge Paul D. Stickney, to charges of conspiracy...
Wall Street Looks to House After Senate Approves Rescue Measure
Oct 2 2008 // Shockwaves from the global credit crisis spread on Thursday, threatening industry and jobs worldwide and putting pressure on the U.S. Congress to finish up a $700 billion bailout of the U.S. financial sector. The fate of...
‘Green’ Homeowners Insurance Available in Georgia
Oct 2 2008 // Georgia homeowners who use environmentally friendly solar panels and recycled building materials on their houses can now get insurance specially designed for “green” homes, according to state officials. The...
AIG’s Japan Unit Gets Capital for Stock Price Fall
Oct 2 2008 // A Japanese insurer that is a unit of troubled American International Group Inc. has received 90.7 billion yen (US$872 million) in additional funds to bolster its financial strength, the company said Tuesday. Alico Japan...
Financial Crisis Spurs CFOs to Weigh Risk Management Practices
Oct 1 2008 // The financial crisis gripping the United States has senior finance executives more likely to be concerned about their firms’ risk management practices (72%) than they are about such issues as accessing both long-term...
Senate to Vote Tonight on Revised Wall Street Bailout with Tax Cuts
Oct 1 2008 // Leaders in the U.S. Congress have deployed their best weapon for winning passage of a $700 billion financial industry bailout just weeks before the elections, attaching tax cuts to an otherwise bitter pill. The Senate aims...
President Bush Urges Congress to Act After Bailout Bill Failure
Sep 30 2008 // President Bush Tuesday said the U.S. economy was depending on decisive action from the government on a financial bailout plan or the economic damage could be “painful and lasting.” “I assure our citizens...
House Rejects Wall Street Bailout in Surprise 228-205 Vote
Sep 29 2008 // U.S. lawmakers rejected a $700 billion bailout plan for the financial industry in a shock vote that sent global markets sliding as the world credit crisis claimed more banks. By a vote of 228-to-205 the House rejected a...
U.S. Court Sides with Bank to Stop Mortgage Loan Class Action
Sep 26 2008 // A lawsuit brought by a Wisconsin couple who accused a bank of deceptive lending practices and wanted to cancel their home loan has been stripped of class-action status in a victory for U.S. banks. In a 2-to-1 decision, a...
Best Affirms Munich Re’s ‘A+’ Ratings
Sep 26 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed the...
Lawmakers to Tackle Wall Street Bailout Plan Again Today
Sep 26 2008 // U.S. congressional leaders will try again on Friday to save a $700 billion Wall Street rescue plan after talks broke down in acrimony against the backdrop of the nation’s biggest-ever bank failure. As negotiations...
Zurich Makes Group Risk Management Appointments in Europe, U.S.
Sep 25 2008 // Zurich Financial Services has announced the following appointments within its Risk Management Group. Adrian Zweig (50, Swiss citizen), currently Head of Strategic Asset Allocation and Asset and Liability Management (ALM),...
