Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Mexico Bank Offers Insurance for Immigrants in U.S.
Apr 21 2009 // Banorte, one of Mexico’s leading banks, has begun to offer life insurance to immigrants working in the United States to protect their families back home. The insurance, being rolled out first in the state of...
Mammolite to Head Ironshore’s U.S. Property Unit
Apr 20 2009 // Bermuda-based specialty insurer Ironshore Inc. has appointed Anthony Mammolite as executive vice president of its U.S. Property unit. Mammolite, who will be based in New York, will oversee strategy for the unit, which...
Data Security Presents a Risk — and Sales Opportunity — for Agents
Apr 20 2009 // It’s An Enormous Market That Includes Main Street Businesses Doing Credit Card Transactions Data security represents a new risk for independent insurance agencies that may not be compliant with data security laws or...
Business Moves
Apr 20 2009 // Munich Re German reinsurer Munich Re has successfully concluded the acquisition of specialty insurer HSB Group from American International Group for $739 million. The deal was originally announced last December. The...
Crime Warp: Recession Driving a Rise in Vehicle Give-Ups
Apr 20 2009 // As America’s economy slogs through this once-in-a-generation recession, stressed-out consumers are literally being driven to desperation. Growing numbers of drivers around the U.S. are illegally dumping their...
Rates Rising on U.S. Property Catastrophe Reinsurance
Apr 20 2009 // A new industry briefing shows reinsurance rates continuing to increase for the U.S. property-catastrophe reinsurance market for April 1, 2009, renewals. According to Guy Carpenter & Co.’s “Rates Up on...
U.S. Lawmaker Urges AIG CEO Liddy to Quit Over Goldman Sachs Stake
Apr 17 2009 // A U.S. congressman Thursday expressed concern about a stake in Goldman Sachs Group Inc. held by Edward Liddy, CEO of bailed-out insurer American International Group Inc., and urged him to quit. Liddy owns shares and...
AIG May Sell U.S. Auto Unit to Zurich
Apr 16 2009 // American International Group is close to a deal to sell its U.S. auto insurance business to Swiss insurer Zurich Financial Services for roughly $1.5 billion, a source familiar with the matter said on Wednesday. A deal...
Farmers To Acquire AIG’s Personal Auto Group for $1.9 Billion
Apr 16 2009 // Los Angeles-based the Farmers Insurance Group of Companies has announced it will acquire American International Group’s (AIG’s) Personal Auto Group, which includes 21st Century Insurance Co. The acquisition...
Somali Pirates Seize Two More Ships, U.S. Vessel, Others Attacked
Apr 15 2009 // Somali pirates hijacked two more cargo vessels and opened fire on two others Tuesday in attacks that showed a determination to go on striking at shipping on the region’s strategic trade routes. The capture of the...
20-Year Sentence Sought for Bond Broker in Insurance Scheme
Apr 15 2009 // Federal prosecutors in New Orleans are seeking a 20-year prison sentence for a woman convicted of participating in a money laundering scheme with a former Louisiana lawmaker. A jury convicted Gwendolyn Moyo last year of...
Survey: Most U.S. Companies Hold Steady on Benefit Plans for Employees
Apr 14 2009 // Despite the pressures of the economic crisis, most U.S. companies continue to view their retirement as a vital part of their workplace relationship with employees, even as they struggle to balance cost and talent...
Capt. Phillips Rescued by U.S. Navy
Apr 13 2009 // U.S. Navy Seals (the Service’s highly trained commando unit) have ended the five-day old hostage crisis, which began with the attempt by Somali pirates to hijack the 17,000-ton Maersk Alabama several hundred miles...
Overall Thefts Cool, But California Remains Top Spot for Vehicle Thefts
Apr 13 2009 // The National Insurance Crime Bureau (NICB) reported that 2008 marked the nation’s fifth consecutive year of declining vehicle thefts in the United States. Although most areas experienced a reduction in vehicle theft,...
Weakened Life Insurers May Get Federal Aid
Apr 10 2009 // U.S. life insurers, already weakened by the global financial crisis, are expected to report their worst-ever quarterly results in the coming weeks, stoking expectations that federal funds will be needed to prevent the...
Somali Pirates Hold American Hostage for Third Day
Apr 10 2009 // U.S. warships stalked a drifting lifeboat where Somali pirates were holding their first American hostage on Friday, apparently hoping to win a promise of safe passage in exchange for the captive. Four pirates have been...
Georgia Charges Tennessee Trucking Insurance Agent with $2.6 Million Fraud
Apr 10 2009 // A Chattanooga, Tenn. insurance agent has been charged with insurance fraud and theft for allegedly adding commissions to policies when he told policyholders that the coverage was being sold on a net basis — with a...
U.S. Lawmakers Seek Ban on Tainted Chinese Drywall
Apr 10 2009 // U.S. Sens. Bill Nelson, D.-Fla., and Mary Landrieu, D.-La., have filed legislation for a recall and immediate ban on tainted building products from China, as more and more people around the country are reporting problems...
Somali Pirates Hijack U.S.- Flagged Container Ship
Apr 9 2009 // Somali pirates hijacked a U.S.-flagged, Danish-owned container ship on Wednesday with 20 American crew on board in a major escalation in attacks off the lawless Horn of Africa nation, officials said. The 17,000-tonne...
P/C Insurers Profitable in 2008; Take Hit From Catastrophes, Financial Crisis
Apr 9 2009 // Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but...
