Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
AXIS Capital Estimates Q3 Pre-Tax Catastrophe Losses of $225M-$255M
Oct 14 2020 // AXIS Capital Holdings Ltd. announced a preliminary pre-tax net loss estimate in the range of $225 million to $255 million ($190 million to $220 million, after-tax) for third quarter catastrophes and other events. This net...
Karen Clark & Co. Estimates $950M Insured Loss in U.S. from Delta
Oct 13 2020 // The catastrophe risk modeling firm Karen Clark & Co. (KCC) has estimated that the insured loss to onshore properties from Hurricane Delta will be close to $1.25 billion, which includes $950 million wind and storm surge...
The Impact of Political Risks on Businesses
Oct 13 2020 // Civil unrest incidents such as protests and riots are challenging terrorism as the main political risk exposure for companies. Recently, events such as the French “yellow vest” protests (insured losses around...
U.S. Dept. of Labor Orders Tennessee Restaurant Chain to Pay $563K in Back Wages
Oct 13 2020 // A small Tennessee restaurant chain has been ordered to pay $563,350 in back wages to 120 employees after the U.S. Department of Labor found it violated minimum wage and overtime rules. Don Pancho Mexican Restaurant kept a...
Facing Deceptive Opioid Marketing Suits, Mallinckrodt Files for Bankruptcy
Oct 12 2020 // Mallinckrodt Plc filed for bankruptcy protection on Monday, saddled with lawsuits alleging it fueled the U.S. opioid epidemic and after it lost a court battle to avoid paying higher rebates to state Medicaid programs for...
Oklahoma High Court OK’s US Chamber’s Support of $465M Opioid Judgment Appeal
Oct 12 2020 // The U.S. Chamber of Commerce can support Johnson & Johnson’s bid to overturn a $465 million judgement against the opioid manufacturer, the Oklahoma Supreme Court has ruled. The court allowed the Chamber along...
Senator Calls on U.S. to Delay IPO by China’s Ant Group
Oct 12 2020 // Senator Marco Rubio, who has successfully urged the Trump administration to pursue investigations of Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering of...
Returning After Hurricane Delta, Louisiana Evacuees Face Power Outages, Extreme Heat
Oct 11 2020 // 10/11/2020 06:21 PM— Storm-weary coastal Louisiana residents who fled from the path of Hurricane Delta in recent days streamed back to their homes on Sunday to face cleanup and repairs from the second hurricane to batter...
U.S. Olympics Sues Insurers Over Stalled Nassar Sex Abuse Settlement
Oct 11 2020 // The United States Olympic and Paralympic Committee (USOPC) said on Friday it has filed a lawsuit against its insurance providers for failing to fulfill obligations in reaching a settlement with survivors of the Larry...
U.S. Sues Yale University Claiming Illegal Favoritism for Blacks, Hispanics in Admissions
Oct 9 2020 // Yale University was sued by the U.S. Department of Justice, which claims the Ivy League school illegally discriminates against White and Asian-American applicants in undergraduate admissions by favoring Black and Hispanic...
China’s Ping An-Backed Lufax Files for $3 Billion U.S. IPO
Oct 9 2020 // Lufax Holding Ltd., one of China’s largest online wealth management platforms, on Wednesday filed to list its shares in the United States, the latest company looking to take advantage of a rebound in capital...
Update: Louisiana Residents Flee as Delta Bears Down on U.S. Gulf Coast
Oct 8 2020 // 10/09/2020 10:41 AM LAKE CHARLES, La., Oct 9 — The streets in Lake Charles in southwest Louisiana were deserted as a powerful Hurricane Delta approached, threatening to add misery to people struggling to recover from the...
Chance of La Niña Through Winter Now at 85%, Says U.S. Weather Service
Oct 8 2020 // A U.S. government weather forecaster on Thursday said there is an 85% chance of La Niña conditions continuing through the upcoming Northern Hemisphere winter. The chance of the weather pattern continuing into the spring...
Analysts Say U.S. Restrictions Unlikely to Hurt Ant Group’s $35 Billion IPO
Oct 8 2020 // Ant Group’s $35 billion initial public offering (IPO) is unlikely to suffer from any U.S. restrictions on the Chinese financial technology giant due to its very limited overseas presence, potential investors and...
U.S. Offshore Energy Firms Prep for Massive Hurricane
Oct 7 2020 // Oil and gas workers withdrew en masse from U.S. offshore production facilities and onshore refineries began preparations on Wednesday as Hurricane Delta was forecast to grow into a powerful storm over the Caribbean on its...
Supreme Court Hears Google’s Appeal of Oracle’s $8 Billion Copyright Claim
Oct 7 2020 // The U.S. Supreme Court appeared divided on Wednesday as it considered whether to protect Alphabet Inc.’s Google from a long-running lawsuit by Oracle Corp. accusing it of infringing Oracle copyrights to build the...
How Coronavirus Is Changing Claims, Risks, Work, Habits, Supply Chains and More
Oct 7 2020 // The magnitude of the COVID-19 pandemic as an economic loss events is unprecedented for companies and insurers alike and claims trends and risk exposures are likely to evolve in both the mid- and long-term as a result of...
Category 3 Hurricane Delta Hits Mexico; Expected to Strengthen, Then Move to U.S.
Oct 7 2020 // Updated Oct 7., 2020, 6:58 AM— Hurricane Delta weakened to a Category 3 storm just before slamming into the coast of Mexico, but remains life-threatening. Delta came ashore along the northeastern Yucatan Peninsula near...
Hollywood’s Insurer Braces for Claims Due to COVID-Related Movie, TV Shutdowns
Oct 6 2020 // Allianz SE, Europe’s largest insurer, is bracing for a flood of claims after movie and television studios were forced to curtail production during lockdown. A unit of Allianz, which says it’s the largest...
Tropical Storm Delta Expected to Threaten Gulf Coast as Major Hurricane This Week
Oct 6 2020 // 10/06/2020 09:09 AM— Hurricane Delta, the 25th named Atlantic storm this year, is moving toward the Gulf of Mexico and expected to take aim at the U.S. Gulf Coast this week as a major hurricane, the National Hurricane...
