Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
China Likely to Adopt Cyber Rules for Insurers Despite Foreign Business Concerns
May 31 2016 // Controversial cyber security regulations for China’s insurance industry, now before the World Trade Organization (WTO), could soon take effect despite efforts by foreign business groups to persuade Beijing to change...
Hackers Target SE Asian Banks, Revealing Campaign Against SWIFT Network
May 27 2016 // Investigators are examining possible computer breaches at as many as 12 banks linked to SWIFT’s global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh...
With Hurricane Season About to Open, Forecasters Already Eyeing East Coast
May 27 2016 // When the Atlantic hurricane season starts next week, the most active area might just be off the U.S. East Coast. At this time of year, passing cold fronts that linger over waters warmed by the late spring sun can trigger...
Jury Sides with Google; Oracle Loses $9 Billion Copyright Claim
May 27 2016 // Google won a jury verdict that kills Oracle Corp.’s claim to a $9 billion slice of the search giant’s Android phone business. Oracle contended that Google needed a license to use its Java programming language...
Liability Insurer Accuses Surgical Robot Maker of Hiding Injury Claims
May 27 2016 // It’s health insurers’ cardinal rule: disclose pre-existing conditions. Now comes a case in which that familiar decree involves not a patient, but rather a $1.5 million surgical robot known as the da Vinci...
Stortzum Joins Alliant’s ProQuest Division in Chicago
May 26 2016 // Lawyers professional liability specialist Nate Stortzum has joined the ProQuest division of Alliant Insurance Services as vice president. Stortzum is based in Chicago Prior to joining ProQuest, Stortzum was Midwest...
North Dakota Company Settles Racial Discrimination Suit for $250K
May 26 2016 // A Williston, N.D.-based oil field service company will pay $250,000 to a worker it fired after he complained of harassment to settle a discrimination and retaliation lawsuit filed by the U.S. Equal Employment Opportunity...
Report Calls Out Insurers for Half-a-Trillion Dollars in ‘Dirty Energy’ Investments
May 24 2016 // Leading U.S. insurers have nearly half-a-trillion dollars invested the fossil fuel energy and the electric and gas utility sectors, according to a report out today that urges state insurance regulators and board members of...
Appeals Court Throws Out $1.27B Fraud Penalty Against Bank of America Mortgage Unit
May 24 2016 // A U.S. appeals court on Monday threw out a jury’s finding that Bank of America Corp. was liable for mortgage fraud leading up to the 2008 financial crisis, voiding a $1.27 billion penalty and dealing the U.S....
Labor Unions Searching for Strategies to Join the Gig Economy
May 24 2016 // The International Association of Machinists and Aerospace Workers trumpeted an agreement reached earlier this month to represent New York Uber drivers, saying it “gives organized labor an opportunity to shape the new...
Beazley Expands Environmental Team in U.S. with XL Catlin, AIG, Ironshore Hires
May 24 2016 // Specialist insurer Beazley has made several senior hires to expand its environmental liability insurance team in the U.S. The Beazley environmental team now has 20 associates across the U.S., with local underwriting and...
FAA Creates Drone Advisory Panel, Lifts Barrier to Education
May 23 2016 // The Federal Aviation Administration is establishing a broad-based advisory committee to provide advice on key unmanned aircraft integration issues. Also, under a new policy, the FAA will also make it easier for students to...
Tough Times for Commercial Auto Insurance: Fitch
May 23 2016 // While the property/casualty industry has reported three consecutive years of significant underwriting profits, the commercial auto market as a whole reported an underwriting loss for the fifth consecutive year in 2015. In...
10 Things to Know About Flood Insurance
May 23 2016 // A large percentage of agents’ errors and omissions claims arise from failure to offer flood coverage. By offering flood coverage at the point of the homeowner sale, in addition to offering protection to clients from...
Furry Friends
May 23 2016 // Members of your family – specifically those with fur and a bark – are costing the industry mega dollars. Dog bites (and other dog-related injuries) now account for more than one-third of all homeowners...
Indiana Company to Pay $45K to Settle EEOC Pregnancy Discrimination Suit
May 20 2016 // Office Concepts Inc., a Fort Wayne, Ind., office product and service store, will pay $45,000 and provide other relief to settle a pregnancy discrimination lawsuit by the U.S. Equal Employment Opportunity Commission (EEOC),...
U.S. to Hear Concerns Over Coal Mines’ Self-Bonding
May 20 2016 // The United States is considering whether to reign in a subsidy on coal mine cleanup costs and in so doing shield taxpayers from those liabilities, a leading regulator for the mining industry said on Wednesday. The program,...
McGovern Leaving Lloyd’s as CRO to Join XL Group as Chief Compliance Officer
May 19 2016 // XL Group plc announced it has appointed Sean McGovern as chief compliance officer, head of Regulatory & Government Affairs, moving from Lloyd’s of London where he is chief risk officer and general counsel. In...
Aspen Announces New CEOs for Insurance & Reinsurance Units as Vitale Retires
May 18 2016 // Bermuda-based Aspen Insurance Holdings Ltd. has appointed new leaders for its insurance and reinsurance segments, in response to the announced retirement of CEO Mario Vitale. Stephen Postlewhite, previously chief executive...
Manager’s Suit Alleges All-Male ‘Club’ Atmosphere, Gender Bias, Retaliation at Bank of America
May 18 2016 // A managing director suing Bank of America Corp. for gender discrimination by what she called an in-house “bro’s club” outlined a host of practices — including front-running, lying to customers and...
