Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Executives See Only Moderate Growth for P/C Industry in 2008
Jan 27 2008 // Property casualty insurance insiders predicted 2008 will be a year of marginal growth as continued pricing competition will keep premiums low and profits lower — although that could quickly worsen if a natural...
Supreme Court Limits Investors’ Securities Lawsuits in Stoneridge Ruling
Jan 27 2008 // In a decision sought by corporate America to stem the tide of securities lawsuits, the U.S. Supreme Court pulled the plug on investors trying to sue some suppliers of a company whose stock price was inflated with the aid...
Commercial Insurers’ Stocks Flat in 2007; M&As Heat Up
Jan 27 2008 // Stock Prices: Commercial lines insurers’ stocks have been relatively flat in 2007. Chubb Corp. (NYSE:CB) posted the largest gain at 5 percent. M&A Activity: The fourth quarter started with a bang as two large...
ISO: Insurers to Pay $6.5 Billion in 2007 Catastrophe Claims
Jan 27 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the...
Lawsuit Claims Ala.-Based Insurance Co. Discriminated Against Haitians
Jan 25 2008 // Three Florida residents have sued Alabama-based Liberty National Life Insurance Co. claiming their insurance was canceled or undervalued because of discrimination against Haitian-Americans. The new class-action lawsuit was...
Shares in US Bond Insurers Rise on Bailout Hopes
Jan 25 2008 // Shares of bond insurers rose sharply Thursday on hopes the sector could receive support from a possible bailout orchestrated by New York insurance regulators. Shares of Ambac Financial Group Inc. rose $1.49 (euro1.02), or...
PartnerRe January P/C Renewals around $2 Billion
Jan 25 2008 // Bermuda-based PartnerRe Ltd. announced that during the January 1 renewal season it expects to write and bind approximately $2.0 billion of Non-Life premium. The figure ” does not include PartnerRe’s Non-Life...
Major China Insurer Ping Selling Shares to Finance Acquisitions
Jan 23 2008 // A major Chinese insurer has announced plans to raise up to $22 billion (euro15.0 billion) for acquisitions at a time when U.S. and European banks, battered by mortgage losses, want infusions of Asian capital to replenish...
U.S. Releases New Disaster Response and Recovery Plan
Jan 23 2008 // The Department of Homeland Security (DHS) has released a comprehensive plan for what the country must do to have a more effective and unified response and recovery in disaster situations. DHS said that the new plan, called...
$458M Big Dig Settlement Reached; Criminal Charges Dropped
Jan 23 2008 // The main management consultant and contractor on Boston’s $15 billion Central Artery/Tunnel Project (Big Dig) has agreed to pay more than $407 million to resolve civil and criminal liabilities in connection with the...
Appeals Court Rules for Miss. Lawmakers in Raid on Insurance Fund
Jan 18 2008 // The Mississippi Legislature had authority to raid an insurance fund in 2004 to balance the state budget, the 5th U.S. Circuit Court of Appeals has ruled. The Mississippi Surplus Lines Association sued the state after the...
Supreme Court Stoneridge Ruling Adds to Setbacks for U.S. Investors
Jan 18 2008 // U.S. investors are heading into 2008 stung by a series of legal and regulatory setbacks, analysts say, with the latest the Supreme Court’s ruling in the Stoneridge case protecting businesses from securities-fraud...
Fitch Affirms AIG, Subs ‘AA’ Ratings
Jan 16 2008 // Fitch Ratings has affirmed American International Group’s Issuer Default Rating (IDR) at ‘AA’ and affirmed its ratings on all of AIG’s insurance subsidiaries at the same level. The rating outlook is...
Okla. Bill Would Require Cigarettes to Be ‘Fire Safe’
Jan 15 2008 // Oklahoma State Rep. Joe Dorman filed a measure for the upcoming legislative session that would make Oklahoma the 31st state to require cigarettes sold within the state to be so-called “fire-safe cigarettes,”...
Supreme Court Limits Investors’ Securities Lawsuits
Jan 15 2008 // In a decision sought by corporate America to stem the tide of securities lawsuits, the U.S. Supreme Court today pulled the plug on investors trying to sue some suppliers of a company whose stock price was inflated with the...
ISO: Insurers to Pay $6.5 Billion in 2007 Catastrophe Claims
Jan 14 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the same...
Business Moves
Jan 13 2008 // Brown & Brown, Turner & Associates Through a subsidiary, Brown & Brown Inc. acquired Tecumseh, Okla.-based Turner & Associates Insurance Agency Inc. Turner & Associates, with annualized revenue of...
Business Moves
Jan 13 2008 // R.E. Chaix & Associates, Katie Freeman Insurance Services Irvine, Calif.-based R.E. Chaix & Associates Insurance Brokers Inc. has agreed to purchase Katie Freeman Insurance Services Inc. Neither companies’...
Lloyd’s GCube Promotes Growth in Renewable Energy Sector
Jan 11 2008 // “GCube, the insurance entity spun out of Lloyd’s managing general agency WindPro, has opened its doors to business on both sides of the Atlantic,” notes a bulletin on the Lloyd’s web site...
19 Surrender in Ongoing Florida Drivers License Scam Investigation
Jan 11 2008 // Florida officials arrested 19 additional Floridians accused of fraudulently obtaining Florida commercial driver licenses (CDLs). Those arrested this week surrendered, some calling in response to initial arrests on Jan. 4....
