Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
US Commercial Lines Survey Results Show Aggregate Increase of 6.1% in Q3: WTW
Dec 11 2023 // U.S. commercial insurance prices increased 6.1% in the third quarter, maintaining an upward trend. According to the latest results from WTW’s Commercial Lines Insurance Pricing Survey (CLIPS), carriers in the third...
Microsoft’s OpenAI Investment Risks Scrutiny From US, UK Regulators
Dec 8 2023 // The US Federal Trade Commission is examining the nature of Microsoft Corp.’s investment in OpenAI Inc. and whether it may violate antitrust laws, according to a person familiar with the matter. The inquiries are...
US P/C Industry Turns in $32.2B Underwriting Loss After 9 Months
Dec 8 2023 // U.S. property/casualty underwriting results deteriorated during the first nine months of 2023 to a loss of $32.2 billion. The result, highlighted in short financial review from AM Best, is $7.6 billion worse than the same...
US, UK Say Russia Targeted Officials in Political Cyber Campaign
Dec 8 2023 // The US and UK have launched a coordinated effort to disrupt a longtime alleged Russian government hacking campaign aimed at what they say is an attempt to undermine democratic processes in both their countries. The UK...
AM Best Maintains Stable Outlook for U.S. Property/Casualty Commercial Lines
Dec 6 2023 // Persistently strong underwriting performance during and after the global pandemic – despite substantial economic and capital markets volatility – has prompted AM Best to maintain its “stable” outlook for...
US DOJ Slaps Criminal Fines on UK Brokers Tysers and H.W. Wood for Bribery
Dec 5 2023 // The US Department of Justice has slapped criminal penalties on UK reinsurance brokers Tysers Insurance Brokers Ltd. and H.W. Wood Ltd. as a result of their participation “in a corrupt scheme to pay bribes to...
US Supreme Court Torn Over Purdue Pharma Bankruptcy Settlement
Dec 5 2023 // U.S. Supreme Court justices on Monday struggled over whether to approve OxyContin maker Purdue Pharma’s bankruptcy settlement, voicing concern the deal would shield its wealthy Sackler family owners from lawsuits...
US Personal Lines Outlook Continues to Be Negative: AM Best
Dec 4 2023 // The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September 2022 – at first due in...
US Supreme Court Set to Review Purdue Pharma Bankruptcy Settlement
Dec 4 2023 // The U.S. Supreme Court on Monday is set to hear a challenge by President Joe Biden’s administration to the legality of OxyContin maker Purdue Pharma’s bankruptcy settlement, a deal that if approved would shield...
EWG Report Finds Rapidly Rising Crop Payouts As Climate Change Hits U.S. Agriculture
Dec 4 2023 // Drought, heat, hail, rain and freezing temperatures – the five horsemen of crop insurance. A new report from EWG found that crop insurance payouts for the top five weather-related losses totaled over $118.7 billion...
Trump Denied Immunity Against US Election Subversion Charges
Dec 3 2023 // Donald Trump is not entitled to absolute presidential immunity against criminal charges over his efforts to overturn the 2020 presidential election, a federal judge ruled, saying the office doesn’t come with a...
US Senate Committee Wants Investigation Into Florida Citizens’ Loss Reserves
Dec 1 2023 // The chairman of the U.S. Senate’s Budget Committee has begun an investigation into Florida’s Citizens Property Insurance Corp. and how the state-created insurer plans to address potential underwriting losses...
US Warns of Growing Threats to Ships Sailing Through Red Sea
Nov 28 2023 // A spate of attacks on merchant shipping near Yemen and Somalia, likely triggered by the war in Gaza, have prompted the US to warn vessel operators to be extra careful when navigating the region. On Nov. 19, Houthis seized...
US, Britain, Other Countries Ink Agreement to Make AI ‘Secure by Design’
Nov 28 2023 // The United States, Britain and more than a dozen other countries on Sunday unveiled what a senior U.S. official described as the first detailed international agreement on how to keep artificial intelligence safe from rogue...
US Labor Board Files Complaint Against Mozilla for Refusing to Hire Apple Activist
Nov 27 2023 // When Cher Scarlett began speaking up about labor issues at Apple Inc., she knew she was at risk of losing her software engineering job, but was confident she could find another. Yet two years after her departure from the...
Reinsurers Cautious About US Regional Property Cat as Storm Losses Rise: Gallagher Re
Nov 22 2023 // After a costly 2023 severe convective storm season in the US, reinsurers underwriting in the regional property catastrophe market are skeptical about providing frequency cover, but their overall appetite remains healthy,...
France, US Plan to Seek Ban on Private Finance to Coal-Fired Plants at COP28: Sources
Nov 22 2023 // France, backed by the United States, plans to seek a halt to private financing for coal-based power plants during the U.N. climate conference later this month, three sources familiar with the deliberations told Reuters in...
US Is Seeking More Than $4 Billion From Binance to End Case
Nov 21 2023 // The US Justice Department is seeking more than $4 billion from Binance Holdings Ltd. as part of a proposed resolution of a years-long investigation into the world’s largest cryptocurrency exchange. Negotiations...
People Moves: Hagerty to Head US Retail Property at Everest Insurance; AIG Hires Navagamuwa as Chief Information Officer
Nov 20 2023 // Roshan Navagamuwa joins American International Group, Inc. (AIG) in December as executive vice president and chief information officer, effective January 1, 2024. AIG is headquartered in New York, N.Y. Navagamuwa joins AIG...
Global Insurance Prices Continue to Stabilize in Q3 as US Cyber Premiums Drop: Marsh
Nov 20 2023 // Global commercial insurance prices increased 3% in the third quarter of 2023, the same as the prior quarter, according to the Global Insurance Market Index released by insurance broker Marsh, a business of Marsh...
