Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Kingsway’s Q2 Net Income Rebounds from Q1 Loss to $6.3 Million
Aug 11 2008 // Kingsway Financial Services Inc. announced financial results (in U.S. dollars) for the second quarter ended June 30, 2008 that rebounded from a first quarter loss. The Company reported net income of $6.3 million or $0.11...
FM Global: Companies Exposed but Underprepared for Natural Disasters
Aug 8 2008 // Most of the largest corporations in North America are exposed to natural disasters, but many are not well-prepared for such catastrophes and are not overly concerned about the potential business impact, according to a new...
Credit Crunch Cripples European Insurers’ Profits
Aug 7 2008 // The global credit crisis tore a hole in the profits of some of Europe’s top insurers on Thursday, with AXA and Aegon both posting lower earnings. Share reactions were mixed across Europe. The DJ Stoxx European...
Feds Charge 11 in Biggest-Ever Identity Theft Case
Aug 7 2008 // Authorities in Boston have cracked what is believed to be the largest federal hacking and identity theft case ever, involving the theft and sale of more than 41 million credit and debit card numbers. Eleven people,...
U.S. Attorney Says Okla.’s Stipe Illegally Ran Insurance Company
Aug 7 2008 // U.S. Attorney Sheldon Sperling has filed a complaint against former Oklahoma State Sen. Gene Stipe accusing him of illegally running an insurance company. Stipe pleaded guilty in 2004 of perjury, conspiracy to obstruct a...
Best Affirms Tokio Marine/Nichido Fire ‘A++’ Ratings
Aug 7 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and the issuer credit rating (ICR) of “aa+” of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) with a...
Aon Launches ‘Green Building Property Program’
Aug 7 2008 // Aon Corporation has launched the “Aon Green Building Property Program,” which it describes as the “industry’s most comprehensive insurance solution to facilitate environmentally friendly and...
Tokio Millennium Re to Use AIR’s U.S. Crop Model
Aug 5 2008 // AIR Worldwide Corporation announced that Bermuda-based reinsurer Tokio Millennium Re Ltd. has licensed the use of AIR’s Multiple Peril Crop Insurance (MPCI) model for use in AIR’s CATRADER® system, which...
Storm Edouard Shuts Gulf Coast Oil Port, Disrupts Shipping
Aug 4 2008 // Tropical Storm Edouard forced shut a huge U.S. offshore oil port, a refinery, some oil production and disrupted shipping as the storm raced toward the Texas-Louisiana coast Monday. Energy companies evacuated staff from...
Business Moves
Aug 4 2008 // Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty...
Mid-Year 2008: Securities Lawsuit Filings Remain Up
Aug 4 2008 // Subprime and Credit Crisis Filings Show No Sign of Abating Is litigation stemming from the subprime- and credit crisis-related activity increasing directors’ and officers’ insurance premiums? Despite the steady...
Road Danger: Thousands of Medically Unfit Commercial Drivers Still Trucking on U.S. Roads
Aug 4 2008 // Hundreds of thousands of tractor-trailer and bus drivers in the United States carry commercial driver’s licenses despite also qualifying for full federal disability payments, and some of those drivers have suffered...
Alabama Insurance Agent Parker Wins Republican Runoff
Aug 4 2008 // Huntsville insurance agent Wayne Parker won the Republican nomination for an open U.S. House seat in Alabama. In the 5th District in north Alabama, Parker received 79 percent to 21 percent for Huntsville lawyer Cheryl...
Business Moves
Aug 4 2008 // Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty...
El Paso Woman Pleads Guilty to Embezzling Nearly $1M from Insurer
Aug 4 2008 // An El Paso, Texas, woman faces up to 20 years in prison and repaying $940,000 to an insurance company where she worked. United States Attorney Johnny Sutton said 42 year-old Olivia Enriquez pleaded guilty on July 23 to one...
Former Louisiana AG’s Katrina Lawsuit Stays in Federal Court
Aug 4 2008 // Former Louisiana Attorney General Charles Foti’s lawsuit contending major insurance companies manipulated prices on hurricane damage claims will remain in federal court, a panel of the 5th U.S. Circuit Court of...
Predicting Ground Motion: The Next Generation
Aug 4 2008 // New Seismic Models Make Ground Motion Predictions More Accurate The accuracy of ground motion prediction from shallow events in the active tectonic regions in the Western United States, such as California, has improved,...
Will Baby Boomers Lead to Boost in Worker Woes?
Aug 4 2008 // Managing Risks With an Aging Workforce The aging and retirement of the Baby Boomer generation is creating a demographic transformation that will affect the staffs of insurance organizations, as well as their...
Study: U.S. Entrepreneurs More Optimistic on Taking Risks
Aug 4 2008 // Despite a weakened economic market, a new study from Hiscox shows that 46 percent of American small business owners still feel that they can make more as entrepreneurs than the traditional corporate world. The Hiscox...
U.S. P/C Insurers’ Catastrophe Losses for Q2 Double to $6 Billion
Aug 4 2008 // Total of 16 Cats Generate More Than 1.2 Million Claims; Average Claim Nearly $5,000 U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $6.025 billion for second quarter property...
