Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Katrina Victims Hit Corps of Engineers with Nearly 500K Claims
Jan 10 2008 // Hurricane Katrina’s victims have put a price tag on their suffering and it is staggering – including one plaintiff seeking the unlikely sum of $3 quadrillion. Insurance companies are among the claimants. The...
S&P: TRIPRA’s Passage Keeps U.S. Commercial Lines Outlook Stable
Jan 8 2008 // On Dec. 26, 2007, President George W. Bush signed into law the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA), thereby retaining the federal backstop for terrorism risk through Dec. 31, 2014. The...
Bush Retains U.S. Mine Safety Chief
Jan 7 2008 // The country’s top mine-safety regulator will stay on the job despite the expiration of his temporary appointment as assistant labor secretary for mine safety and health. President Bush designated Richard Stickler as...
Insurance Application and Drivers License Fraud Lead to Arrests in Fla.
Jan 7 2008 // Florida officials arrested seven Floridians accused of posing a risk to Florida’s and the nation’s security by fraudulently obtaining Florida Commercial Driver Licenses. The investigation is ongoing and...
Statistics Based on Atlantic Hurricane Activity Can Overestimate Risk
Jan 7 2008 // New research on the link between the formation of hurricanes in the Atlantic basin and U.S. landfall activity suggests that using Atlantic basin hurricane activity as a proxy for landfall activity can lead to erroneous...
QBE Americas to Acquire North Pointe
Jan 4 2008 // Australia’s QBE announced that it has signed a definitive agreement to acquire North Pointe Holdings Corporation, a NASDAQ listed, US-based P/C insurance group. The acquisition is subject to the approval of...
Fairfax Completes Cunningham Lindsey Deal with Stone Point
Jan 3 2008 // Fairfax Financial Holdings Limited and the Cunningham Lindsey Group Inc. announced that they have closed the previously announced sale transaction with Trident IV, L.P., a private equity fund, managed by Stone Point...
Experts Forsee Volatile Investment World in 2008
Jan 3 2008 // The start of a new year often brings jokes about crystal balls, but with the arrival of 2008, many investors are ruefully saying they don’t need fortunetelling gimmicks – they know that the problems that made...
U.S. Risk Names Dolan as Senior Broker in Boston
Jan 3 2008 // Managing general agent U.S. Risk Insurance Group, Inc. has named Brendan Dolan a senior broker in the workers compensation department at Boston Insurance Brokerage, Inc., a subsidiary of U.S. Risk. In this position, Dolan...
Top Insurance Stories in 2007 in Midwest
Dec 31 2007 // From storms that flooded the Midwest destroying homes and business in the summer to a court ruling that could have a significantly negative impact on the medical malpractice insurance market in the state of Illinois, 2007...
Top Insurance Stories in 2007
Dec 31 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
Argo Group Begins Reorganization; Best Raises Peleus Re Ratings
Dec 27 2007 // The Bermuda-based Argo Group International Holdings, Ltd. (which includes Argonaut Insurance) announced that its U.S. and Bermuda subsidiaries will be restructured to create a new organizational platform for...
President Signs TRIA Extension
Dec 27 2007 // With only five days left before the Terrorism Risk Insurance Act was set to expire on Dec. 31, 2007, President George Bush signed into law legislation that reauthorizes the federal backstop for seven years. Some key...
Ratings Recap: Green Valley (Swiss Re), Aviva Canada, CSOB Pojistovna, Harbor Point Re, Hiscox
Dec 27 2007 // Standard & Poor’s Ratings Services has assigned its ‘BB+’ debt ratings to the €200 million ($292 million) Class A Series 1 Principal At-Risk variable-rate notes due Jan. 10, 2011 issued by Green...
Willis Report Tackles Global Warming Impact on Risk Management
Dec 27 2007 // “Climate change is one of the foremost concerns of our time,” states a bulletin from Willis. “In a relatively short time, the focus has shifted from debate over the reality of global warming to a general...
Salmonella Fear Prompts Recall of Mexico-Grown Basil
Dec 27 2007 // Some 5,500 pounds of basil grown in Mexico and sold in the United States has been recalled because of fears it may be infected with salmonella, a spokesman for the importer said. The basil was imported from a farm in...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped
Dec 27 2007 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
Make the Most of the Mexico-bound
Dec 23 2007 // Auto coverage essential; homeowners a growing market Recent snow and rain at many people’s doorsteps signal that it’s the high season for snowbirds to flock south for the winter. And those driving beyond the...
From Med Mal Caps to RICO Violations, No Headline Shortage in 2007
Dec 23 2007 // Severe summer storms that ransacked the Midwest, a court ruling that could negatively impact the medical malpractice insurance market in Illinois and RICO allegations in Minnesota were just a few of the news stories that...
Figures
Dec 23 2007 // $247 Billion U.S. tort costs totaled $247 billion in 2006, which is $57 less per person than in 2005 at approximately $825 per person, according to an update on U.S. Tort Cost Trends from the Tillinghast insurance...
