Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Lloyd’s McGovern Works to Expand No. American Business; Part II
Oct 18 2010 // Sean McGovern now heads Lloyd’s operations in the U.S. and Canada – the first and third largest sources of business for its underwriters. Lloyd’s not only wants to hold on to that business, but also to...
Business Moves
Oct 18 2010 // Western National, Arizona Auto, Legacy Western National Insurance Group (WNIG) of Edina, Minn., signed an agreement for the purchase of 100 percent of the stock of Arizona Auto Insurance Co. and Legacy Insurance Services,...
Fight the Gloom and Doom
Oct 18 2010 // It’s a cat chasing-its-tail scenario. Or maybe a Catch-22. Chicken-and-egg? Whatever it is, it’s a mess. The scenario is this: The economy takes a nose dive, so the government lowers interest rates to nearly...
Declarations
Oct 18 2010 // Insurer Suits “We are expected to be one of several insurance companies that are taking this action.” —Allstate spokeswoman Christina Loznicka after Allstate Insurance Co. announced it had sued Toyota Motor...
Fight the Gloom and Doom
Oct 18 2010 // It’s a cat chasing-its-tail scenario. Or maybe a Catch-22. Chicken-and-egg? Whatever it is, it’s a mess. The scenario is this: The economy takes a nose dive, so the government lowers interest rates to nearly...
U.S. Firms Plan New Oil Spill Insurance Fund
Oct 18 2010 // U.S. oil explorers are talking about forming a new insurance fund that would cover the costs of any future oil spill, to avoid a scenario where smaller companies are unable to drill offshore, an industry executive...
Business Moves
Oct 18 2010 // IMS, London American Risk Specialists IMS Insurance Market Solutions acquired Houston-based London American Risk Specialists Inc. effective Sept. 1, 2010. The combined entity will become IMS/London American and will be one...
Lloyd’s McGovern Navigates Turbulent U.S. Waters; Part I
Oct 15 2010 // A recent article in Lloyd’s “Market” magazine noted that Sean McGovern, General Counsel and, since February 2010, the Director of Lloyd’s North America, “loves to mess about in boats in his...
Stanford Denied Use of Lloyd’s Insurance to Pay Fraud Defense
Oct 14 2010 // Accused swindler Allen Stanford may not use $100 million in a Lloyd’s of London directors and officers insurance policy to pay the lawyers defending him on charges of running a $7 billion fraud, a U.S. judge in Texas...
Soft Market Persists; Fierce Competition to Continue into 2011: Marsh
Oct 14 2010 // Soft commercial insurance market conditions persisted through the third quarter of 2010, with lower rates on average across major coverage lines, according to a new report from broker Marsh. Intense competition and...
Beazley, Co-Founder of Beazley Group, Passes Away
Oct 14 2010 // The co-founder and former CEO of Beazley Group, Andrew Beazley, has passed away at the age of 57. Beazley was co-founder of the company and its CEO for 22 years of its 24-year history. The company founded by Andrew Beazley...
Judge Lets States’ Suit Against Obama Healthcare Law Proceed
Oct 14 2010 // U.S. states can proceed with a lawsuit seeking to overturn President Barack Obama’s landmark healthcare reform law, a Florida judge ruled Thursday. U.S. District Judge Roger Vinson had said at a hearing last month...
House Report: Denials of Coverage by Large Health Insurers Up 49%
Oct 13 2010 // Coverage denials of individuals based on their medical histories by the nation’s top for-profit health insurance companies rose by nearly half in recent years, U.S. lawmakers said Tuesday. The findings raise...
Clock is Ticking on Surplus Lines Tax Reform
Oct 12 2010 // The insurance industry called the passage of the Wall Street Reform & Consumer Protection Act on July 21, 2010, a “big win” thanks to provisions in the massive reform bill that would modernize regulation...
BP Gulf Oil Disaster Legacy Includes Higher Risk, Insurance Costs
Oct 12 2010 // The Gulf of Mexico oil spill will push up costs and reduce the number of offshore oil and gas operators in U.S. waters for a long time to come, oil company executives told an industry conference in London on Tuesday. More...
Best Affirms Aspen’s ‘A’ Ratings; Outlook Stable
Oct 8 2010 // 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...
U.S. Judge Upholds Individual Mandate in Obama Healthcare Law
Oct 8 2010 // A U.S. judge Thursday upheld a key part of President Barack Obama’s signature healthcare law that requires Americans to obtain coverage, rejecting a challenge by a conservative interest group. The Thomas More Law...
U.S. Firms Plan New Oil Spill Insurance Fund
Oct 7 2010 // U.S. oil explorers are talking about forming a new insurance fund that would cover the costs of any future oil spill, to avoid a scenario where smaller companies are unable to drill offshore, a senior industry executive...
U.S. Avoids Major Landfall So Far in Active Hurricane Season
Oct 7 2010 // The 2010 Atlantic hurricane season has been very active in the number of storms but is likely to go down as a non-event for most people in the United States, which has so far dodged a major landfall, the top official U.S....
Munich Re Coverage in U.S. Extends CPV Energy Warranty
Oct 7 2010 // Munich Re has launched coverage in the United States for the photovoltaic-producing segment of the solar module industry and first ever of its kind in the world for CPV systems. CPV (concentrator photovoltaic) technology...
