Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
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Nov 7 2011 // Westfield Insurance, headquartered in Westfield, Ohio, selected Dennis Baus to lead the company’s surety operations. Baus assumes the national surety leader responsibilities on Jan. 1, 2012, replacing Rick Kinnaird...
The Demotech Company Classification System Reveals State Specialist Property/Casualty Insurers
Nov 7 2011 // Company Name State of Speciality 2010 TOTAL DPW Texas Mutual Insurance Co. TX 596,191 Old American County Mutual Fire Insurance Co. TX 575,100 SAIF Corporation OR 327,373 St. Johns Insurance Co. Inc. FL 257,106 Brickstreet...
Auto Insurers Keep Eye on Cross-Border Claims with Canada
Nov 7 2011 // Staged automobile accidents in Canada’s most populated province of Ontario pose a unique problem for American auto insurers that must deal with Ontario’s stringent no-fault benefits. Some U.S.-based adjusters...
Mexican Truck Finally Enters U.S. Under NAFTA
Nov 7 2011 // The first Mexican long-haul truck bound for the U.S. interior crossed at the international bridge at Laredo, Texas, in late October, carrying electronic equipment destined for suburban Dallas and fulfilling a controversial...
Judge Blocks San Francisco’s Cell Phone Warning
Nov 7 2011 // A U.S. judge has blocked most of a San Francisco ordinance that required warnings about cell phone safety risks, saying it violated the First Amendment. Health questions about cell phone use grew this year after a group of...
Women Launch New Legal Salvo Against Wal-Mart
Nov 7 2011 // Women pursuing discrimination claims against Arkansas-based Wal-Mart Stores Inc. filed a reformulated lawsuit against the retailer, their first since a massive nationwide class action collapsed earlier this year. The...
Association Founder Urena Still on Mission to ‘Latino-ize’ Insurance
Nov 7 2011 // The narrative of Andre Urena’s life is told in a series of lessons, many handed down from his peasant-turned-bank president father Alvaro. His father died in December-but not before having a heavy hand in shaping his...
AIG Says Commercial Line Rate Hike Is Accelerating
Nov 4 2011 // American International Group said its U.S. commercial line rates are increasing at an accelerated pace. A number of other major insurers have been offering similar observations in this earnings season. “In U.S....
BP Products to Pay $50M for Illegal Emissions at Texas City Refinery
Nov 4 2011 // BP Products North America Inc. will pay the state of Texas $50 million for unlawfully emitting pollutants during and after a March 2005 explosion at the company’s Texas City refinery, according to the Texas Attorney...
Benmosche Says AIG Is Still in ‘Good Shape’ Despite Huge Losses
Nov 4 2011 // AIG suffered a perfect storm of natural disasters and adverse market conditions in the third quarter, its chief executive officer said Friday, the day after the company posted a net loss of more than $4 billion. On a...
Broker/Analyst Cheuvreux Urges Buffett to ‘Come to Europe’
Nov 4 2011 // Warren Buffett should come to Europe to tap regional champions at knock-down valuations, including in his favored sectors, Cheuvreux analysts said in an open ‘letter’ to the billionaire U.S. investor detailing...
10 South Texas Residents Sentenced to Prison for Insurance Fraud
Nov 3 2011 // Ten south Texas residents have been sentenced to federal prison for their roles in a scheme to defraud the American Family Life Assurance Company (Aflac) by filing false injury claims under Aflac’s Accident-Only...
Study: U.S. Copyright Sector Adds $930B to Economy
Nov 3 2011 // U.S. movie, music, software and other industries heavily dependent on copyright protections added nearly $932 billion to the U.S. economy in 2010, or about 6.4 percent of total gross domestic product, according to new...
Steamship Mutual Sets 5% Premium Increase for 2012
Nov 3 2011 // The Directors of the London-based Steamship Mutual P&I Club “recently reviewed the Club’s open policy years, as well as claims in earlier years, and considered the premium ratings required for the 2012...
Treasury Receives $972M TARP Repayment from AIG
Nov 2 2011 // The U.S. Treasury Department said it received an additional repayment of $972 million from American International Group (AIG). The payment came mostly from the scheduled release of the escrow from AIG’s sale of its...
AXA Rosenberg Settles Coding Lawsuit for $65 Million
Nov 2 2011 // Money manager AXA Rosenberg and co-founder Barr Rosenberg agreed to pay $65 million to settle a lawsuit by investors who said they lost money after a computer coding glitch impeded the firm’s ability to manage...
Most of $19.9 Billion Madoff vs JPMorgan Case Tossed
Nov 2 2011 // A federal judge threw out most of a $19.9 billion lawsuit against JPMorgan Chase & Co and a $2 billion case against UBS AG by the trustee seeking money for victims of epic swindler Bernard Madoff’s fraud. The...
U.S. Sues Allied Home Mortgage for Lending Fraud
Nov 1 2011 // The U.S. Department of Justice sued Allied Home Mortgage Capital Corp and two top executives over fraudulent lending practices that have cost the government more than $834 million of insurance claims. In a complaint filed...
Settlement Reached in Florida Anthrax Death Case
Nov 1 2011 // The widow of a tabloid photo editor who died in the 2001 anthrax mailings has reached a settlement in her lawsuit against the U.S. government. Maureen Stevens of Lake Worth, Florida, and the government have reached a...
Corporations Win Key Product Liability Trials; More Victories to Come?
Nov 1 2011 // A string of courtroom victories by drugmakers in key product liability trials could be a signal that these and other companies can beat back claims in upcoming cases against them. AstraZeneca Plc, Merck & Co. and...
