Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Biden Hits McCain Over ‘Bermuda Loophole’ for U.S. Insurers
Sep 25 2008 // Democratic vice presidential candidate Joe Biden said Republican John McCain protected offshore tax shelters worth billions of dollars to U.S. insurance giants. In a trip to the battleground state 0f Virginia this week,...
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Sep 24 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...
PCI Tells U.S. Trade Commission China Insurance Link Important
Sep 24 2008 // In testimony before the U.S. International Trade Commission, the Property Casualty Insurers Association of America (PCI) stressed the “importance of the U.S.-China insurance trade relationship.” The PCI also...
Best to Hold Conference Today on Ike, AIG Rating, Other P/C Events
Sep 24 2008 // A.M. Best announced that a number of leaders of its insurance ratings team will address a variety of important property/casualty market issues in an online briefing set for today, Wednesday, September 24 at 9 a.m. Eastern...
S&P Sees More ‘Write-Downs’ Coming
Sep 23 2008 // A report from Standard & Poor’s Ratings Services’ Paris office – “Global Financial Institutions Eye Another Wave Of Write-Downs As U.S. Housing Woes Spread -” forecasts that global...
U.S. Bailout Faces Delays as Goldman Gets $5B Boost from Buffet
Sep 23 2008 // Architects of a $700 billion bailout plan urged U.S. lawmakers to act swiftly or face dire economic consequences as global stock markets fell for a second day on growing concern the rescue may be delayed. But financial...
More to Come in Busy Atlantic Hurricane Season
Sep 22 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...
Organizations Opposed to U.S. Insurance Tax Bill Issue Statement
Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...
U.S. Subprime Lawsuits Outpace S&L Cases, Study Finds
Sep 22 2008 // The U.S. subprime-mortgage crisis has now spurred more federal lawsuits than the savings and loan debacle of the late 1980s and early 1990s ever did, according to new data released this month. The number of new...
U.S. Reinsurers Report Deteriorating Combined Ratio; Decline in Surplus
Sep 22 2008 // U.S. reinsurers reported a deteriorating combined ratio for the first-half 2008, compared to the first-half 2007 while net premiums were up over the same time period. The Reinsurance Association of America (RAA) released...
Trouble on the High Seas?
Sep 22 2008 // Understanding and Planning for Exporters’ Risks While Cargo Is In Transit In the world of foreign trade, making the sale is only half the battle. Once the sale is completed, the arduous process of getting the...
Study Finds Economic Costs of Federal Cat Legislation Significant
Sep 22 2008 // Taxpayers In At Least 20 States Could Face Multi-Billion Dollar Tax Burden Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar...
Business Moves
Sep 22 2008 // CRC Insurance, Southern Risk CRC Insurance Services Inc., the wholesale insurance unit of BB&T Corp., completed its purchase of Southern Risk Operations LLC. Sumter, S.C.-based Southern Risk is an excess and surplus...
Business Moves
Sep 22 2008 // Arthur J. Gallagher & Co., Wm. W. George & Associates Arthur J. Gallagher & Co. has acquired Dallas-based retail insurance broker Wm. W. George & Associates Inc. Terms of the transaction were not...
Supreme Court on Small Business
Sep 22 2008 // There is no question that U.S. Supreme Court’s decisions impact small business. More than 40 percent of the court’s cases directly affect the business community, including employment, civil rights, insurance,...
Scorecard: Small Business at the Supreme Court
Sep 22 2008 // There is no question that the U.S. Supreme Court’s decisions impact small business. Studies have shown that more than 40 percent of the Court’s cases deal with issues that directly affect the business...
U.S. Financial Rescues Could Approach $2 Trillion
Sep 21 2008 // The U.S. Treasury Department worked through the weekend with Congress to craft a plan to spend as much as $700 billion to absorb bad mortgages and other assets from bank or other institution balance sheets to keep the...
Credit Rating Agencies’ Cuts on AIG Signal Downgrades Ahead
Sep 21 2008 // Credit rating agencies, criticized for moving too slowly in cutting ratings on Wall Street firms and the complex instruments they devised, are now accused of acting too quickly. As the credit crisis enters a new phase, the...
Former SEC Head Donaldson Calls for Regulatory Overhaul
Sep 19 2008 // Former U.S. Securities and Exchange Commission Chairman William Donaldson said the United States needs a regulatory overhaul, similar to changes made to the system after the Great Depression. “It’s clear there...
Fitch On AIG Rating Watch Revision
Sep 18 2008 // On Sept. 17, Fitch Ratings revised its Rating Watch on American International Group Inc. (AIG) and its subsidiaries to Evolving from Negative following the announcement that its board has approved a transaction under which...
