Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Fortitude Re Forms Bermuda Multi-Line Reinsurer, Buys U.S. Life Insurer
Jan 7 2022 // Fortitude Re announced the formation of a Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer. In addition, Fortitude Re’s subsidiary, Fortitude Reinsurance Co. Ltd. (FRL), Bermuda’s largest...
Flurry of Briefs Filed Supporting, Opposing OSHA COVID-19 ETS in U.S. Supreme Court
Jan 6 2022 // With the January 7, 2022, oral argument over the Occupational Safety and Health Administration (OSHA) Vaccine or Test Emergency Temporary Standard (ETS) in the U.S. Supreme Court fast-approaching, many amici curiae...
European Floods in Mid-July Cost Insurers $12B, Topping Non-U.S. Events in 2021
Jan 4 2022 // The most significant non-U.S. loss event in 2021 was the mid-July flooding in Western Europe, according to CRESTA, the Zurich-based insurance industry organization that provides a global standard for risk aggregation zones...
Firms Want U.S. to Support EU Proposals to Rein In Big Tech Platforms
Dec 29 2021 // Critics of tech giants like Alphabet’s Google pressed Commerce Secretary Gina Raimondo for a January meeting after she expressed concern about proposed legislation in Europe aimed at reining in the U.S....
FWD Group Withdraws U.S. IPO Plan, Pivoting Instead to Hong Kong
Dec 21 2021 // FWD Group Ltd., the Hong Kong-based insurer backed by billionaire Richard Li, withdrew its U.S. initial public offering as China tightens its grip on overseas listings. The company said in a filing Monday with the U.S....
UK Brokerage Insurtech Eyes U.S. Expansion After $7.9M Capital Raise
Dec 20 2021 // A commercial insurance brokerage technology company that is up and running in the UK is targeting the U.S. after raising more than $7.9 million in a Series A funding round. Broker Insights, which is based in Scotland,...
Argo Announces Sale of ArgoGlobal SE as Group Focuses on U.S. Specialty Insurance
Dec 20 2021 // Argo Group International Holdings Ltd., the Bermuda-based underwriter of specialty insurance, announced an agreement to sell its Malta business operations, ArgoGlobal Holdings (Malta) Ltd. and its subsidiaries, to...
Fairfax Completes Sale of Stake in Subsidiary Odyssey Group for US$900M
Dec 16 2021 // Fairfax Financial Holdings Ltd. announced the completion of the previously announced sale of a minority stake in Fairfax’s subsidiary, Odyssey Group Holdings for an aggregate cash price of US$900 million. An...
People Moves: AGCS Promotes Williams to CUO Corporate, Succeeding Buckle; Aon Names Irl to U.S. Reinsurance Treaty Team; AXIS’ Gorman to Arrow Risk Mgmt
Dec 15 2021 // This edition of International People Moves details appointments at Allianz Global Corporate & Specialty, Aon’s Reinsurance Solutions team and Arrow Risk Management. A summary of these new hires follows here. AGCS...
Court Approves $380M Settlement of U.S. Olympic Gymnastics Sex Abuse Case
Dec 15 2021 // The legal wrangling between USA Gymnastics and the hundreds of victims of sexual abuse by former national team doctor Larry Nassar, among others, is over after a $380 million settlement was reached. The fight for...
Tornadoes That Ripped Across Central U.S. Could Be Costliest Outbreak on Record
Dec 13 2021 // A group of tornadoes that tore across the central U.S. on December 10 and 11 resulted in widespread damage in several states and could serve as the nation’s costliest tornado outbreak on record. “Based on...
Reinsurer Says U.S. Should Regulate $17 Billion Litigation Funding Industry
Dec 13 2021 // Litigation funding has become a $17 billion industry globally, with 52% of that money being spent in the United States, Swiss Re said in a recent report. The reinsurer said third-party litigation funding (TPLF) is...
US Lawmakers Propose Bill Making Staged Collisions Federal Crime
Dec 10 2021 // U.S. Congressmen Garret Graves and Henry Cuellar have introduced a bill that would make it a federal crime to stage a vehicle collision and fraudulently claim financial damages. Graves (R-LA) and Cuellar (D-TX) say the...
Maryland Is Fifth U.S. State to Join the International Sustainable Insurance Forum
Dec 10 2021 // Consistent with Governor Larry Hogan’s commitment to address and mitigate the effects of climate change, the state of Maryland has joined the Sustainable Insurance Forum (SIF) of the United Nations Development...
How Big Tech Is Faring in U.S. Lawsuits and Probes
Dec 8 2021 // Big Tech platforms Meta Platforms Inc, formerly known as Facebook, and Google have been hit with a series of antitrust lawsuits by the U.S. federal government and states on charges they are operating monopolies and abusing...
Charles Taylor Accelerates Growth Course in the US as it Launches New Business Lines, Acquisitions and Attracts Top-Tier Talent
Dec 7 2021 // Achieving Rapid Growth in the US Since Rolling Out National Expansion Strategy NEW YORK, NEW YORK – DECEMBER 7, 2021 – Charles Taylor Adjusting and Technical Services, a leading global loss adjusting business, today...
U.S. Issues New Cybersecurity Directives for Rail Airport Operators
Dec 6 2021 // The Transportation Security Administration is issuing new directives and recommendations aimed at strengthening the cybersecurity defenses of U.S. rail and airport operators. The Biden administration said the requirements...
U.S. Calls for Outer Space Norms After ‘Irresponsible’ Russia Test
Dec 3 2021 // U.S. Vice President Kamala Harris on Wednesday criticized an “irresponsible” Russian test that endangered the International Space Station with debris, and the Biden administration laid out a new strategy for...
Climate Report: ‘Low- to No-Snow’ Will Worsen Water Shortages in U.S. West
Dec 2 2021 // The Intergovernmental Panel on Climate Change this week distributed the final draft of the Working Group III contribution to the Sixth Assessment Report to governments, in one of the final stages of preparations before...
Convex Gets NAIC Approval to Operate as Reciprocal Jurisdiction Reinsurer in U.S.
Nov 30 2021 // Convex Group Ltd. announced that Convex Insurance UK Ltd. (CIL) and Convex Reinsurance Ltd. (CRL) have received approval from the National Association of Insurance Commissioners and the California Department of Insurance...
