Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Report: U.S. Cedes More Than $58B Offshore in 2007
Jul 22 2008 // The United States ceded $58.4 billion in premium to offshore reinsurers in 2007 — compared to $54.7 billion in 2006 — an increase of 6.8 percent. Net recoverables totaled $113.0 billion, a decrease of 1.1...
ACE Limited Now a Swiss Firm; Redomesticates from Cayman Islands
Jul 22 2008 // ACE Limited reported that it has completed the previously-announced re-domestication of the company from the Cayman Islands to Zurich, Switzerland. ACE said it continues to be registered with the Securities and Exchange...
Former Louisiana AG’s Katrina Lawsuit Stays in Federal Court
Jul 21 2008 // A former Louisiana attorney general’s lawsuit that contends major insurance companies manipulated prices on hurricane damage claims will remain in federal court, an appeals court ruled. In a 2-1 decision, a panel of...
U.S. P/C Insurers’ Catastrophe Losses for Q2 Double to $6 Billion; Average Claim $5K
Jul 21 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $6.025 billion for second quarter property losses resulting from a total of 16 catastrophes in 27 states, which is nearly double...
Credit Seen Drying Up for Main Street Small Businesses
Jul 21 2008 // As losses mount at American banks and the pain of the credit crisis spreads from housing and finance to the broader economy, many small companies complain it is increasingly difficult to obtain loans. Tighter credit could...
Midwest States High on List for Numbers of Tornadoes
Jul 21 2008 // While a rural area to the northeast of Denver, Colo., tops the nation when it comes to metropolitan areas most prone to tornadoes, Texas leads the states in the average total number of tornadoes per year in the continental...
Forecast: Tropical Storm Dolly to Become Hurricane, Hit Southern Texas
Jul 21 2008 // Tropical Storm Dolly churned toward southern Texas Monday, and forecasters said they expected it to grow into a hurricane before hitting land near the Mexican border later this week. The storm, with sustained winds of...
Reynolds Named President of United National Group
Jul 18 2008 // United America Indemnity Ltd. (UAI), based in the Cayman Islands, appointed Scott Reynolds as president of United National Group, one of UAI’s three U.S. divisions. The appointment is effective July 28,...
Mich. Man in Terror Trial Seeks Closure on Alleged Insurance Fraud Case
Jul 14 2008 // A Michigan man whose conviction on terror-related charges was thrown out in 2004 is working on a plea agreement to close a case involving allegations of insurance fraud. The disclosure was made in federal court on July 11...
Credit Rating Agencies Fending Off Lawsuits from Subprime Meltdown
Jul 14 2008 // Battered by critics who blame them for helping to foment the U.S. subprime mortgage meltdown, credit raters are now trying to fend off lawsuits — including fraud claims brought by their own shareholders. Many...
Ark. Bank Files Insurance Claim After Employee Allegedly Steals $2.1M
Jul 11 2008 // On July 8, Conway-based Home BancShares filed a notice with the U.S. Securities and Exchange Commission that said a senior officer at one of its banks embezzled $2.1 million. John Allison, Home BancShares’ chairman...
Agriculture Secretary Visits Neb. Meat Plants, Says U.S. Beef Generally Safe
Jul 10 2008 // The U.S. agriculture secretary expressed confidence in the nation’s food safety system, but said the meat processing industry will always face challenges because the bacteria that animals carry evolves. “I...
World Trade Organization Mediators Report Progress in Negotiations
Jul 10 2008 // World Trade Organization mediators in Geneva put the final touches to new negotiating texts on Thursday that will serve as the blueprint for an outline deal in the WTO’s long-running Doha round, trade officials...
House Subcommittee Moves Key Federal Insurance Regulation Bills
Jul 10 2008 // In a big week for insurance lobbyists, a key House subcommittee advanced three major insurance regulatory measures. The U.S. House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored...
Interview: N.Y.’s Dinallo Sees Insurance Exchange Open by 2009
Jul 8 2008 // New York Insurance Superintendent Eric Dinallo said Monday a revival of the defunct New York Insurance Exchange could happen as early as next year. Dinallo, in a telephone interview from New York, said the next 18 months...
U.S. Supreme Court Seen Siding with Business on Key Issues
Jul 8 2008 // The Supreme Court under Chief Justice John Roberts has carved out a reputation for pro-business rulings in a series of important decisions. In its recently ended term, the high court threw out the largest punitive damages...
When In Rome, Do As the Romans
Jul 7 2008 // Hint: Learn Before You Go The ancient expression “When in Rome, do as the Romans do” is used to warn friends and colleagues to respect and adapt to the culture of places that they visit. In the insurance...
Jul 7 2008 // People Dayton, Ohio-based Norman-Spencer Agency Inc. named Mark Yearn national program director for its recreational marine division. Yearn will oversee Norman-Spencer’s H2O Headings Program, which serves boat...
McCain, Southeast Governors Split Over National Disaster Fund
Jul 7 2008 // Republican Presidential Nominee Opposes Idea that Remains Popular with Many Gulf Coast Voters A congressional proposal to create a national “catastrophe fund” to help states recover from natural disasters has...
