Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Chubb Says Commercial Renewal Rates Rose 6% in Q4, Up From 4% in Q3
Jan 30 2012 // Chubb Corporation said its commercial insurance renewal rates were up 6 percent in the 2011 fourth quarter, as the pace of renewal rate increases continues to accelerate. Chubb also said it secured renewal rate hikes in...
Lawyers Jump Into Cruise Ship Disaster Cases
Jan 30 2012 // Soon after Mitchell Proner, a New York personal-injury lawyer, heard about the capsizing of the Costa Concordia off the coast of Italy, he sprang into action. Proner, who specializes in motorcycle-accident lawsuits, has...
Best Revises Chartis, Lexington & Members Outlooks to Stable; Affirms Ratings
Jan 27 2012 // In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Chartis US Insurance...
Chubb Posts $452M in Q4 Profit, Approves $1.2B Share Buyback
Jan 27 2012 // The Chubb Corporation reported fourth-quarter net income of $452 million, down 27 percent from $620 million net income reported during the same period one year ago. The Warren, N.J.-based insurer said the results were hurt...
U.S. Taxpayers Still Owed $132.9B From Bailout
Jan 27 2012 // A government watchdog says U.S. taxpayers are still owed $132.9 billion that companies haven’t repaid from the financial bailout, and some of that will never be recovered. The bailout launched at the height of the...
Increase in U.S. Tort Costs Driven by Gulf Oil Spill: Study
Jan 27 2012 // The April 2010 Deepwater Horizon drilling rig explosion and resulting oil spill in the Gulf of Mexico were the key drivers in the 5.1 percent increase in U.S. tort costs in 2010, according to a new report. The 2011...
Costa Cruises Offers Settlements to Passengers
Jan 27 2012 // Costa Cruises has offered to pay 11,000 euros ($14,500) in compensation to each of the more than 3,000 passengers aboard the ship that capsized near the island of Giglio two weeks ago, Italian consumer groups said on...
BP Must Cover Some Transocean Gulf Oil Spill Damages
Jan 27 2012 // A federal judge on Thursday said BP Plc must indemnify Transocean Ltd. for some compensatory damage claims over the 2010 Gulf of Mexico oil spill. U.S. District Judge Carl Barbier, who oversees multistate litigation over...
BP Fails to Shift $15 Billion Gulf Oil Spill Costs to Transocean
Jan 27 2012 // Oil giant BP has lost its attempt to shift over $15 billion of costs related to the Gulf of Mexico oil spill onto contractor Transocean , increasing the possibility BP may have to foot the entire $42 billion clean up...
AIG Thinking about Buying Back More of AIA
Jan 26 2012 // American International Group Chairman Steve Miller said on Thursday the bailed-out insurance company may eventually want to buy a life insurer outside the United States, including possibly a larger stake in the spun-off...
U.S. Wholesale Broker AmWINS Completes Acquisition of London’s THB
Jan 26 2012 // U.S. insurance wholesaler AmWINS Group, Inc. has completed its previously announced acquisition of THB Group plc of London. THB, an independent insurance and reinsurance broker and risk management business, serves clients...
U.S. Eyes WTO Services Pacts Amid Doha Stall
Jan 25 2012 // The United States is making a push for a group of countries within the World Trade Organization to start talks to liberalize trade in services, even if big developing countries like China, India and Brazil don’t want...
Tougher U.S. Commercial Market Conditions in 2012: Marsh
Jan 25 2012 // U.S. commercial insurance rates are expected to climb across many lines of business in 2012, continuing a trend that began in the second half of 2011, according to a report by insurance broker Marsh. Substantial...
January P/C Reinsurance Renewals Flat or Up Slightly: Towers Watson
Jan 25 2012 // January 1 renewal rates for U.S. property/casualty reinsurance premiums showed firming with changes from -5 percent to +5 percent on an overall basis, with loss-affected property catastrophe business up considerably...
Crop Insurance Payouts at a Record $9.1 Billion
Jan 25 2012 // Crop insurers paid out a record $9.1 billion in indemnities on 2011 U.S. crops, and the total could top $10 billion when all claims are settled, due to damage from drought, flooding, and freezing weather, a trade group...
Ratings Roundup: Montpelier US, Medico, First Sealord, Pathfinder
Jan 24 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “aa-” from “a-” of Montpelier US...
Ratings Roundup: Taiping Re, First Insurance
Jan 24 2012 // A.M. Best Co. has revised the outlook to stable from positive and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating “a-” of Hong Kong-based Taiping Reinsurance...
AIG to Merge Group Benefits Units From Chartis and American General
Jan 24 2012 // Two American International Group units — Chartis U.S. Accident and Health, and American General Life Companies — are planning to merge their group benefits businesses into a single, unified organization. The...
New U.S. Consumer Agency Pledges to Avoid Rule Duplication
Jan 24 2012 // The new Consumer Financial Protection Bureau said on Monday it would coordinate rulemaking and enforcement with the Federal Trade Commission to avoid duplication. Richard Cordray, the recently appointed director of the...
Should Insurers Cover Experimental Treatments?
Jan 24 2012 // When your health insurance provider denies an experimental treatment or a high-cost drug, how much are you willing to pay for the care you believe you need? Barby Ingle, a former cheerleading and dance coach at Washington...
