Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Best Affirms Aspen UK, Bermuda Companies and Subs Ratings; Outlook Stable
Oct 14 2011 // A.M. Best Europe – Ratings Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Aspen Insurance UK Limited (AIUK) and Aspen...
Best Affirms QBE’s US Subsidiaries Ratings; Upgrades North Pointe
Oct 13 2011 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a+” from “a-” of Harrisburg,...
2,100 Jobs Lost in Insurance Industry in August
Oct 13 2011 // The latest U.S. jobs data show the insurance industry lost 2,100 jobs overall in August. The industry employs some 2,211,000 workers according to the latest numbers. The Insurance Information Institute reported that most...
Ratings Recap: HSB (UK), Nissan Global Re, Optima, Hatherley/Park
Oct 13 2011 // A.M. Best Europe – Rating Services Limited has upgraded the financial strength rating to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit rating to “aa+” from...
U.S. Sanctions BP, Contractors for Gulf Oil Spill
Oct 13 2011 // The U.S. offshore drilling regulator Wednesday formally issued sanctions against BP and the major contractors involved in the 2010 explosion on the Deepwater Horizon rig that killed 11 workers and spewed more than 4...
Endurance Appoints Lamer to Head U.S. Property Cat Treaty Reinsurance
Oct 13 2011 // Bermuda-based Endurance Specialty Holdings Ltd announced that Rene Lamer will assume the role of Senior Vice President and Head of U.S. Property Catastrophe Treaty Reinsurance. He is a Bermuda citizen, and will continue to...
Fairfax Financial’s Hedges Shelter Insurer from Financial Crisis
Oct 13 2011 // Toronto-based Fairfax Financial, which raked in billions during the 2008 financial crisis by using market hedges, is once again a go-to stock for shaken investors. Although the company has been criticized by some for its...
US Congress OK’s Korea, Panama, Colombia Trade Pacts
Oct 13 2011 // Congress Wednesday approved long-delayed trade pacts with South Korea, Colombia and Panama that are expected to lift exports by about $13 billion a year and give U.S. employment a boost. Republicans and Democrats joined...
North Dakota’s Dorgan Joins Board of The Climate Corporation
Oct 12 2011 // Weather insurance provider WeatherBill has changed its name to The Climate Corporation and added former U.S. Sen. Byron Dorgan of North Dakota to its board of directors. The San Francisco-based company says the name change...
FBI Gets Immunity for Wreck of Ferrari in Michigan Insurer Case
Oct 12 2011 // A judge has dismissed a lawsuit against the U.S. government over the wreck of a $750,000 Ferrari driven by an FBI agent, saying federal law grants immunity if property is being held by law enforcement. The wreck of the...
U.S. Regulators Propose Threshold for Defining Systemic Risk Firms
Oct 12 2011 // U.S. regulators pondering which non-bank financial firms are large enough to warrant additional oversight have proposed a $50 billion asset threshold in conjunction with levels of debt and derivatives. The Financial...
Best Affirms OneBeacon Group’s Ratings; Outlook Stable
Oct 11 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of the operating companies comprising Minnesota-based OneBeacon Insurance...
U.S. to Reveal Criteria for Systemic Risk Insurers Today
Oct 11 2011 // U.S. regulators Tuesday are set to give nervous insurance companies, mutual funds and other big players in financial markets a better idea of whether they will be tapped for the same type of additional government scrutiny...
2nd Man Pleads Guilty in Houston in New York Tour Boat Insurance Case
Oct 11 2011 // A second man has pleaded guilty in Houston in a case involving the sale of insurance to a New York tour operator whose boat capsized in 2005 killing 20 elderly tourists, federal officials reported. Edmund Hugh Benton, 63,...
California Rep Introduces Earthquake Insurance Affordability Act in House
Oct 7 2011 // California’s U.S. Rep. John Campbell (R-48), who today introduced H.R.3125 – companion legislation to S.637 introduced by U.S. Sen. Dianne Feinstein earlier this year. Both bills would strengthen the...
Officials Urged to Keep Minimum Health Benefits Affordable
Oct 7 2011 // An advisory group urged U.S. officials to formulate a set of essential health benefits under President Barack Obama’s healthcare overhaul that is in line with cost of insurance in a typical small employer plan. The...
Jansen and Hastings Launch Cove MGA
Oct 6 2011 // Two veterans in the London insurance marketplace have come together again to launch a new underwriting agency with a focus on U.S.-based homebuilders. Paul Jansen and Kevin Hastings have launched Cove Programs, a newly...
Self-Reported Drunk Driving Incidents Fall
Oct 6 2011 // Drunken driving incidents have fallen 30 percent in the last five years, and last year were at their lowest mark in nearly two decades, according to a new federal report. The decline may be due to the down economy: Other...
Republican Report Backs Incentives for Corporate Cybersecurity
Oct 6 2011 // A Republican task force in the House said Congress should give companies incentives to boost their cyber defenses, but that tougher regulation may be warranted to protect critical facilities like power and water...
Number of U.S. Deer-Vehicle Collisions Falls 7 Percent
Oct 5 2011 // For the third consecutive year, the number of deer-vehicle collisions in the U.S. has dropped, according to Illinois-based State Farm Insurance. And the downturn is accelerating. The percentage decline over the last year...
