Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
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...
Texas Homeowners Pay Highest US Insurance Premiums
Dec 21 2012 // An industry group says Texas homeowners are paying the highest insurance premiums in the country. The report was released Tuesday by the National Association of Insurance Commissioners. The Dallas Morning News reported the...
Lawsuits Cast Darker Shadow Over Banks Than Libor Fines
Dec 21 2012 // While banks appear to be brushing off record fines for rigging interbank interest rates, investors are starting to worry about a rising tide of civil lawsuits from disgruntled customers. UBS shares touched 18 month highs...
UK’s Met Office Sees 2013 as Likely to be One of Warmest on Record
Dec 21 2012 // Global temperatures are forecast to be 0.57 degrees [1.026°F] above the long-term average next year, making 2013 one of the warmest years on record, Britain’s Met Office, the UK’s national weather service,...
XL Group’s Marine Unit Boosts Underwriting and Claims Staff in N.Y.
Dec 20 2012 // XL Group plc’s North American marine business is expanding its blue water hull risk management capabilities in New York with the addition of Siobhan Coen and Jeff Loechner as senior underwriters and Eileen Fellin as...
Southern California Jury Awards $4.5 Million to Filipino Teachers
Dec 20 2012 // A federal jury awarded $4.5 million to Southern California Filipino teachers who paid large fees to obtain U.S. jobs through a placement agency. Jurors on Monday found that Los Angeles-based Universal Placement...
Trade, Insurance Sanctions Against Iran in U.S. Defense Bill
Dec 20 2012 // A final version of new U.S. economic sanctions against Iran would give the Obama administration more time to implement measures aimed at its energy, shipping and port sectors, but otherwise was little changed from an...
U.S. Slaps Japanese Company on California Nuclear Power Plant Work
Dec 19 2012 // A Japanese company that manufactured the troubled steam generators at a key nuclear power plant in southern California might be looking for fixes with the wrong test equipment, U.S. federal regulators have disclosed. A...
PartnerRe to Acquire Calif.-based Presidio Re Group
Dec 19 2012 // Bermuda-based PartnerRe Ltd. announced a definitive agreement to acquire California-based Presidio Reinsurance Group, a U.S. specialty accident and health reinsurance and insurance writer. PartnerRe said it would...
