Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Munich Re 2012 Cat Report Underscores Extreme Weather in U.S.; Sandy Losses
Jan 3 2013 // The figures for natural catastrophse that occurred in 2012 are “dominated by weather extremes in the USA,” according to a report from Munich Re. The reinsurers said the U.S. “accounted for a higher...
U.S. House Skips Vote on Sandy Aid, Angering Members From Storm-Hit States
Jan 2 2013 // The U.S. House of Representatives adjourned on Tuesday night without acting on a $60.4 billion Superstorm Sandy disaster aid bill, prompting angry denunciations from members from the states hardest hit by the storm....
How ‘Fiscal Cliff’ Package Deals with Business Taxes
Jan 2 2013 // The “fiscal cliff” deal that slowly, painfully took shape in the U.S. Congress in recent days fulfills some of corporate America’s tax policy goals, but leaves others unmet, including a big one –...
Looking Back at Insurance News of 2012: The Year’s Biggest Stories
Dec 31 2012 // With less than a day left until the end of the year, here’s a look back at some of the biggest property/casualty insurance news stories in 2012 that impacted the Northeast region, in chronological order: Top Investor...
Worker’s Comp Reforms, Portable Persistency Top West’s 2012 Headlines
Dec 31 2012 // Dec. 21, 2012 came and went and the apocalypse was so lackluster as to be forgotten among the year’s myriad headlines. Now that we are all well and good, and past doomsday, here are Insurance Journal’s best...
Federal Court Grants Firm Reprieve from Contraceptive Coverage Mandate
Dec 31 2012 // A divided federal appeals court has temporarily barred the U.S. government from requiring an Illinois company to obtain insurance coverage for contraceptives, as mandated under the 2010 healthcare overhaul, after the...
AIG to Thank America for Bailout in High-Profile Ad Campaign
Dec 31 2012 // American International Group,Inc. said it will launch an advertising campaign thanking America for its support during the global financial crisis, as well as highlighting AIG’s recovery and the repayment and a...
R.I. Legislator Sentenced for Underpaying Tax for His Adjuster Firm
Dec 28 2012 // The deputy speaker of the Rhode Island House of Representatives has been sentenced to serve time in federal prison for tax fraud involving his insurance adjuster firm. Rep. John McCauley — the owner and co-operator...
Toyota Claimants Not Part of $1.1 Billion Settlement Face Uphill Climb
Dec 28 2012 // Toyota Motor Corp. eliminated a huge obstacle with a U.S. settlement over unintended acceleration in its cars and trucks, leaving it to fight smaller cases that will be harder for plaintiffs to prove and less likely to...
P/C Industry’s 9 Month Results Show Insurers Can Handle Sandy Losses: ISO, PCI
Dec 28 2012 // Before Hurricane Sandy hit, private U.S. property/casualty insurers’ net income after taxes grew to $27 billion in nine-months 2012 from $8.4 billion in nine-months 2011. Insurers’ overall profitability as...
Events that Topped World Insurance News in 2012
Dec 28 2012 // While 2012 wasn’t as tumultuous as 2011, it had its share of insurance shaking trends and events. Here in roughly chronological order are some of them: 1) The costs of the flooding in Thailand in 2011, wasn’t...
Farmers Agents Sue Carrier Over Contracts, Taking Client Info
Dec 27 2012 // A group of Farmers Group Inc. agents have filed a lawsuit in Los Angeles Superior Court alleging the Los Angeles, Calif.-based carrier has undercut them by sharing their data with a competing subsidiary and several...
Canadian Private Equity Firm Onex Completes USI Acquisition
Dec 27 2012 // Canadian private equity firm Onex Corp. said today it has completed its previously announced acquisition of USI Insurance Services from Goldman Sachs Group’s GS Capital Partners for approximately $2.3 billion. The...
Commentary: UBS and Too-Big-to-Punish – James Saft
Dec 27 2012 // As well as too-big-to-fail it looks as if we must think of our largest banks as too-big-to-punish as well. After comments from top U.S. Justice Department officials in the wake of the $1.5 billion settlement with UBS over...
U.S. Apppeals Court Revives Workplace Cybertheft Claim
Dec 27 2012 // In a decision that could make it easier for businesses to police cybertheft in the workplace, a U.S. appeals court revived a chemical company’s lawsuit accusing a former Toronto-area employee of using her home...
Judge Approves $7.8 Billion Settlement in BP Class Action Suit
Dec 26 2012 // A U.S. judge last Friday gave final approval to BP Plc’s settlement with individuals and businesses who lost money and property in the 2010 Gulf of Mexico oil spill. The order only addressed the settlement of...
Toyota to Settle Acceleration Cases for More Than $1 Billion
Dec 26 2012 // Toyota Motor Corp. has agreed to spend $1.1 billion to settle sweeping U.S. class-action litigation over claims that millions of its vehicles accelerate unintentionally, as the Japanese automaker seeks to move past the...
Montana Lawmakers Want Pipeline Study Finished
Dec 26 2012 // Two U.S. senators from Montana are urging federal safety regulators to wrap up a yearlong study into whether oil spills into rivers, lakes and other water bodies across the U.S. have resulted from inadequately buried...
N.C. Farmer Pleads Guilty to Million Dollar Crop Insurance Fraud
Dec 26 2012 // Federal authorities announced last week that a North Carolina farmer pleaded guilty to conspiracy to commit fraud on the federal crop insurance program for payments worth over $1 million. According to authorities, Harry...
Any Prospects for Insurance Regulatory Changes in 2013?
Dec 26 2012 // Progress in making insurance regulatory changes has been slow, and there’s really nothing to indicate that the situation will change in the near future. The United States, however, has managed to make some relevant...
