Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Tower Group, Meadowbrook Delays on Filings Could Trigger Shareholder Actions
Aug 13 2013 // After two property/casualty insurers—Tower Group International Ltd. and Meadowbrook Insurance Group—said they would delay scheduled Securities and Exchange (SEC) filings last week, law firms set the wheels in motion...
India’s MRPL to Receive Iranian Oil Cargo after 4-Month Gap
Aug 13 2013 // India’s Mangalore Refinery and Petrochemicals Ltd said on Monday it expects to receive an Iranian oil cargo by the end of this week, the firm’s first purchase from the sanctions-hit nation since April. The...
Republican Sen. McConnell Calls for Delay in Obamacare Insurance Exchanges
Aug 13 2013 // Senate Republican leader Mitch McConnell on Monday called on the Obama administration to delay the Oct. 1 opening of exchanges where uninsured Americans will be able to buy health insurance until the U.S. government can...
Property Losses Rose for U.S. Captives in 2012: A.M. Best
Aug 12 2013 // Captive insurance companies tightened margins and used capital more efficiently in 2012, according to research by ratings firm A.M. Best Co. Among A.M. Best’s captive composite, the loss and loss adjustment expense...
Railroads Win Class Certification Appeal in Shippers’ Price Fixing Case
Aug 12 2013 // The four largest U.S. railroad companies won their bid to reverse a ruling that turned a price- fixing lawsuit against them by shippers into a group lawsuit with potential damages of at least $10 billion. A three-judge...
Tennessee’s Heavy Rains Tested Lessons from 2010 Flood
Aug 12 2013 // Unusually heavy summer rainfalls in Tennessee have given the agencies involved in flood control and emergency management a chance to show that they have learned to cooperate after the disastrous missteps of...
Cat Bonds, Sidecars Keeping Reinsurance Rates Low Says Guy Carpenter
Aug 12 2013 // Reinsurance market rates continued to be driven by an influx of capital from third-party investors at the July 1 renewals, in spite of catastrophe losses reaching approximately $20 billion during the first six months of...
NSA Leaks Could Stymie U.S. Cyber Policy Progress: Officials
Aug 9 2013 // Weeks of revelations about secret U.S. surveillance programs could stymie progress on negotiations over new laws and regulations meant to beef up the country’s defenses against the growing threat of cyber attacks,...
Catlin Group Six Months Underwriting Results Steady; Net Income Falls
Aug 9 2013 // The Bermuda-based Catlin Group Limited listed the following highlights for the financial results for the six months ended 30 June 2013. — Strong Underwriting Reflected in 88.9 percent Combined Ratio — Strong...
Railway in Quebec Train Disaster Gets Canada Bankruptcy Protection
Aug 9 2013 // The U.S. railway whose runaway train killed 47 people in a tiny Quebec town last month was granted bankruptcy protection from a Canadian court on Thursday and took steps in that direction in a U.S. court as well. Montreal...
Small Cars Are Big Losers in Safety Crash Tests
Aug 8 2013 // The auto industry continued its poor performance in an influential U.S. safety group’s new crash test as half of the small cars tested did not fare well. Six of the cars tested, most of which were 2013 models, were...
Third Point Re Claims Eligibility for U.S. Jobs Act Disclosure Limits with No U.S. Staff
Aug 8 2013 // Billionaire hedge-fund manager Daniel Loeb’s Third Point Reinsurance Ltd., which has no staff in the U.S., said it can limit financial disclosure after a public offering because of rules promoting domestic job...
Pfizer to Pay $1.8 Million in Prempro Punitive Damages
Aug 8 2013 // Pfizer Inc. must pay about $1.8 million in punitive damages to a Connecticut woman who developed breast cancer after taking the company’s Prempro menopause drug, a judge ruled. U.S. District Judge Janet Bond...
AIG, Former Executives Sued by Nuveen Investment Funds, UCalif Regents
Aug 8 2013 // Twenty-five Nuveen Investments Inc. funds sued American International Group Inc., claiming the company committed securities fraud in the months leading up to the U.S. financial crisis in 2008. Also named as defendants in a...
BP Ordered to Pay $130M Operating Costs of Gulf Oil Spill Claims Program
Aug 8 2013 // BP Plc must pay $130 million to a court-appointed administrator overseeing payments to thousands of people who claimed they were hurt by the 2010 Gulf of Mexico oil spill, a federal judge ruled on Wednesday, in a fresh...
Ratings Recap: Catlin (U.S.), LEMIC, Florists’ Mutual
Aug 8 2013 // At the same time that it affirmed its ratings on the Catlin Group A.M. Best also affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of Catlin Insurance...
Aon Benfield’s July Cat Report Confirms Canada’s 2nd Billion Dollar Loss
Aug 8 2013 // According to the latest Global Catastrophe Recap report from Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, the “strong thunderstorms” that “brought record...
Munich Re Licenses AIR’s Updated Crop Insurance Models for U.S., China
Aug 8 2013 // AIR Worldwide reported that it has updated its Multiple Peril Crop Insurance (MPCI) Models for the United States and China. “These are weather-based models that estimate underwriting gains and losses based on crop...
Kenya Resumes International Flights After Fire Shuts Airport
Aug 8 2013 // Kenya accepted some incoming international flights at Jomo Kenyatta International Airport after fire engulfed the arrivals terminals yesterday and shut operations at the busiest air-transportation hub in East...
Insurance Tech Firm Ebix Reportedly Under U.S. Review for Possible Money Laundering
Aug 6 2013 // Federal investigators are reviewing Ebix Inc.’s cross-border financial transactions to see whether the Atlanta-based software company engaged in money laundering, according to three people with knowledge of the...
