Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Ex-N.Y. Postal Worker Pleads Guilty to $18K Workers’ Comp Scam
Jun 22 2012 // Authorities said a former U.S. Postal Service employee has pleaded guilty to receiving over $18,000 in fraudulent workers’ comp benefits. The U.S. Attorney’s Office for Northern District of New York said Thomas...
Judge Allows Investor Lawsuit Over Goldman CDO Conflicts
Jun 22 2012 // A federal judge said on Thursday that shareholders can proceed with a lawsuit accusing Goldman Sachs Group Inc. of concealing conflicts of interest in several collateralized debt obligation transactions, the fallout from...
Moody’s Cuts Ratings of 15 Global Banks
Jun 22 2012 // Ratings agency Moody’s Investors Service downgraded 15 of the world’s biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital...
Swiss Re Chief Economist Sees Rising Rates by Year End
Jun 22 2012 // On the heels of the decision by the U.S. Federal Reserve to maintain the target fed funds rate at zero to 25 basis points Swiss Re’s Chief Economist, Kurt Karl, commented: “The US economy has been weak...
Health Insurers to Rebate $1.1 Billion
Jun 22 2012 // U.S. health insurance companies are due to pay out $1.1 billion in rebates to employers and individuals this summer, under a new industry regulation imposed by President Barack Obama’s health care law, the...
Law Firms’ Insurers to Compensate Investors Hurt by Mortgage Crisis
Jun 21 2012 // In a rare instance of law firms compensating investors burned in the mortgage meltdown, Greenberg Traurig and Quarles & Brady moved closer on Wednesday to settling a class action that accused them of participating in a...
Oklahoma Physician, Hospital Settle Fraud Case for $1.5M
Jun 21 2012 // State and federal officials say an Oklahoma hospital and physician have agreed to a $1,550,000 payout to settle a health care fraud case. Sanford C. Coats, U.S. attorney for the Western District of Oklahoma, and Oklahoma...
Ratings Recap: Auto Owners, Stonebridge, Tokio Marine (U.S.), Courtesy, Young America, Old Glory
Jun 21 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of Auto-Owners Insurance Company and its four wholly owned...
London Stung by U.S. Attack on Bank Regulation Record
Jun 21 2012 // Calling London a haven of regulatory loopholes that spawns financial trading disasters could make it harder to align new transatlantic rules, figures in London’s financial and legal circles said on...
Co-Owner of Missouri-Based US Fidelis Pleads Guilty in Federal Case
Jun 20 2012 // For the second time in four days, the former co-owner of a once prominent marketer of auto service contracts has pleaded guilty. Cory Atkinson of Lake St. Louis, Mo., on June 18 pleaded guilty to federal charges including...
G20 Backs Europe’s Plans for Euro Zone Overhaul to Fight Crisis
Jun 20 2012 // Europe won support from world leaders on Tuesday for an ambitious, but slow-moving, overhaul of the euro zone, even as pressure built in financial markets for quicker solutions to its debt crisis that threatens the world...
Arrowhead Marine Program Wants Your Summer Boating Season Business
Jun 20 2012 // San Diego, CA, 06/20/2012 – With summer officially starting today and the boating season already underway, the Marine Program at Arrowhead General Insurance Agency, Inc. is pleased to offer its producers a team of...
PURE Introduces Flood Insurance Product for High-Value Homeowners
Jun 19 2012 // As Hurricane Season begins, Privilege Underwriters Reciprocal Exchange (PURE) has launched a flood coverage suite to owners of well-built, high-value homes across most of the United States. PURE Flood Solutions is a...
Stanford’s Lawyers Plan to Appeal 110-Year Sentence
Jun 19 2012 // Former billionaire Allen Stanford was sentenced in Houston to 110 years in prison on July 14 for running a $7 billion scheme in which he stole money from his investors to finance an extravagant lifestyle in the Caribbean....
U.S. Settles Lawsuit Against Christus Spohn Health System Corp.
Jun 19 2012 // Federal prosecutors say a Texas-based hospital system has paid millions of dollars to settle a false claims lawsuit. Christus Spohn Health System Corp. has paid the United States more than $5 million to settle allegations...
Texas Attorney Convicted of Paying Bribe Money to Judge
Jun 19 2012 // A South Texas attorney has been convicted on charges related to bribing a judge for favorable rulings in court cases, including insurance related litigation. United States Attorney Kenneth Magidson announced that Ray Roman...
U.S., European Union Struggle to Overcome Regulatory Barriers
Jun 19 2012 // The United States and the European Union, stung by past failures to liberalize trade, are struggling over how to tackle regulatory barriers in areas ranging from financial services to chemicals that pose the biggest...
Best Affirms Tower U.S. Pool and Affiliated Companies Ratings
Jun 18 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the pooled and reinsured members of the Tower US Pool. Best also...
Oil Market Shrugs at Imminent Iran Tanker Insurance Ban
Jun 18 2012 // In less than two weeks, Iran’s biggest oil buyers will lose access to the London-based insurance market that protects 95 percent of the world’s tanker shipments against oil spills or catastrophic...
Economic Crisis Challenges Harmonization of U.S. Regulations, EU’s Solvency II
Jun 18 2012 // The EU’s Solvency II regulations get most of the headlines, but there are other regulatory bodies, which are trying to modernize and harmonize the regulations for global insurance companies. Their task has been made...
