Latest USA Headlines

All the headlines from our USA Topic Page, ordered by recency.

U.S. Healthcare System Wastes Up to $700-$800 Billion a Year: Reuters

Oct 26 2009 // The U.S. healthcare system is just as wasteful as President Barack Obama says it is, and proposed reforms could be paid for by fixing some of the most obvious inefficiencies, preventing mistakes and fighting fraud,...

Florida Judge: $97M Nicaraguan Judgment Against Dole Unenforceable

Oct 23 2009 // Florida judge has said a $97 million judgment against U.S. food giant Dole and Dow Chemical Co. cannot be enforced because the Nicaraguan court that issued it neither had jurisdiction nor met international legal...

Drop in Catastrophe Losses Leads Travelers to Strong Underwriting Gain

Oct 22 2009 // Travelers Companies Inc., the No. 1 publicly-traded U.S. property/ casualty insurer, said its quarterly profit more than quadrupled, strongly beating expectations, as a dearth of costly catastrophes left the company with...

Top Executives at AIG Financial, Other Bailed Out Firms to See Pay Cuts

Oct 22 2009 // Top earners at financial and auto companies bailed out by the U.S. government will see their pay slashed under an Obama administration plan aimed at addressing public outrage over eye-popping paychecks, two sources...

Torus Specialty Expands Umbrella, Excess Liability Placement Capability

Oct 22 2009 // Torus Specialty, the U.S. subsidiary of global specialty insurer, Torus, announced that it can now write $10 million in capacity for umbrella and excess liability placements. Further capacity increases are expected in the...

AmTrust to Invest $42 Million in ACAC Acquisition of GMAC P/C Insurance

Oct 21 2009 // AmTrust Financial Services, Inc. is making an investment in American Capital Acquisition Corp. in connection with the acquisition by ACAC of GMAC’s U.S. consumer property/ casualty insurance business.AmTrust said it...

Alabama Supreme Court Throws Out $274M in Verdicts Against Drug Makers

Oct 19 2009 // The Alabama Supreme Court last Friday threw out jury decisions awarding the state more than $274 million from three pharmaceutical companies, ruling they did not defraud the state in pricing Medicaid prescription drugs.The...

Q&A with Ironshore’s Kelley: Why He Left AIG and His Plans for Ironshore

Oct 19 2009 // In December, 2008, Kevin Kelley left Lexington Insurance Co., the largest excess and surplus lines insurance company, after more than 30 years during which he helped the company become one of parent American International...

El Nino to Influence U.S. Winter Weather– Or Not, Say Forecasters

Oct 19 2009 // It will be a tale of two winters in the United States — warmer and drier than average in the North and wetter and cooler in the South — thanks to El Nino, according to government forecasters.In its winter...

Business Moves

Oct 19 2009 // Norfolk & Dedham, RockinghamTwo East Coast-based mutual insurance companies have formed a mutual alliance that they say allows them to achieve efficiencies, diversification and spread of risk without actually merging...

Business Moves

Oct 19 2009 // A.J. Gallagher, Fox LawsonItasca, Ill.-based Arthur J. Gallagher & Co. has acquired Fox Lawson & Associates LLC in St. Paul, Minn. Terms of the transaction were not disclosed. Founded in 1995, Fox Lawson &...

People

Oct 19 2009 // Michael “Mike” R. Donohoe of Mankato, Minn., was installed as vice chairman of the Independent Insurance Agents & Brokers of America at the association’s recent Leadership Conference in New Orleans,...

People

Oct 19 2009 // Unisource Program Administrators (UPA), a workers’ compensation wholesaler headquartered in Oklahoma City, has expanded services to all 50 states.In addition, the company named Barbara Drollinger, a 20-year...

Strong Earthquakes Abroad Could Weaken Geologic Faults in U.S.

Oct 19 2009 // Powerful earthquakes may be a trigger for weakening geologic faults a half a world away, U.S. researchers said this week in a study that points to new ways to predict earthquakes.“Earthquakes are caused when a fault...

Manulife Buys Pottruff & Smith; Now Canada’s No. 2 Travel Insurer

Oct 16 2009 // Manulife Financial, Canada’s biggest life insurer, announced on Thursday that it has acquired Pottruff & Smith Travel Insurance Brokers Inc. in an all cash deal that will make it Canada’s No. 2 travel...

What ‘Plan B’ for Copenhagen Climate Change Conference Might Look Like

Oct 16 2009 // Negotiators are already talking about “plan B” for the Copenhagen climate talks in December, with uncertainty growing that nations will be able to agree in time on a tougher and broader U.N. climate pact.While...

Best Affirms Ratings for Northbridge (Fairfax) Operating Companies

Oct 16 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Markel Insurance Company of Canada, Federated Insurance Company of...

Ratings Recap: AMI, HDI-Gerling

Oct 15 2009 // A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of New Zealand’s AMI Insurance Limited, both with stable outlooks. The ratings are...

Senate Panel Passes Healthcare Bill

Oct 14 2009 // A key U.S. Senate committee endorsed a sweeping healthcare overhaul Tuesday, gaining the support of an influential Republican and delivering President Barack Obama a victory on his top domestic priority.The...

U.S. Issues Rules to Protect Patients’ Genetic Information

Oct 14 2009 // Individuals’ genetic information should have greater protections through new regulations that have been issued by the U.S. Departments of Health and Human Services (HHS), Labor, and the Treasury.The rules–...