Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
U.S. Property Insurers Could be Facing $12.5B in Hidden Cyber Losses
Oct 12 2021 // The U.S. property insurance market is accumulating cyber exposures that could result in $12.5 billion in non-physical damage losses and cause capital adequacy ratios for some carriers to deteriorate. A study conducted by...
U.S. Has Had 18 Weather Events Each With $1 Billion Losses Thus Far in 2021
Oct 12 2021 // Through the end of September, there have been 18 weather and climate disaster events with losses exceeding $1 billion each across the U.S. during 2021. These events include one drought/heat wave event, two flooding events,...
U.S. Endures 18 Major Weather and Climate Disasters in 2021
Oct 11 2021 // The U.S. has endured 18 major weather and climate disasters so far this year that killed a combined 538 people and inflicted more than $100 billion in damage, according to the National Oceanic and Atmospheric...
U.S. Supreme Court Allows Lawsuit Against Troopers to Proceed
Oct 8 2021 // The U.S. Supreme Court declined to hear an appeal by two state police officers accused of failing to protect a woman from a man who went on a deadly rampage, allowing a civil lawsuit to proceed. Troopers were accused of...
Report: A Fifth of U.S. Insurance Company Board Members Have Worked in Fossil Fuel Industry
Oct 7 2021 // A report out Thursday from a climate change advocacy group alleges that more than one-fifth of U.S. insurance company board members have worked for the fossil fuel industry, and that two-thirds of all U.S. insurance...
U.S. to Require Cyber Disclosure, Security Plans From ‘High Risk’ Air, Rail Companies
Oct 7 2021 // The Transportation Security Administration will introduce regulations that compel the most important U.S. railroad and airport operators to improve their cybersecurity procedures, Homeland Security Secretary Alejandro...
July’s European Floods Generated Largest Non-U.S. Insurance Industry Loss in 2021
Oct 7 2021 // The extreme flooding event in Western Europe in mid-July generated the largest insurance industry loss figure so far this year – at current estimates of US$11.0 billion, according to CRESTA, the insurance industry...
U.S. Approves Fire Retardant That Could Be ‘Game-Changer’ in Fighting Wildfires
Oct 7 2021 // U.S. officials on this week approved a long-lasting fire retardant that could significantly aid in fighting increasingly destructive wildfires by stopping them before they ever start. The U.S. Forest Service approved...
U.S. Senators See ‘Actuarial Disaster’ on the Horizon with Flood Risk Rating 2.0
Oct 4 2021 // U.S. senators from coastal states are predicting “an actuarial disaster” in the future once FEMA’s new flood insurance rating systems goes into full swing. In a press call on Sept. 30, Louisiana Sen. Bill...
U.S. Surplus Lines Industry Grew Premium 17.5% in 2020
Oct 4 2021 // The U.S. surplus lines market experienced direct premium growth of 17.5% in 2020, the largest year-over-year premium increase since 2003, according to an AM Best report. The 2020 increase in direct premium written comes on...
Tests Show No Health Risks From U.S. Steel Plant Discharge: EPA
Oct 1 2021 // Preliminary tests indicate iron-contaminated wastewater that leaked from a northwestern Indiana steel plant into a Lake Michigan tributary presents no risk to public health, the Environmental Protection Agency said. U.S....
Hong Kong Firms, Including FWD, Are Flagging China Risks in U.S. IPO Filings
Sep 30 2021 // Hong Kong-based companies with little to no presence in mainland China are the latest to warn about the risks they face from Beijing’s crackdown on businesses, in a further sign of enhanced disclosures sought by...
Apparent US Steel Plant Spill Closes Indiana Beaches
Sep 28 2021 // Indiana Dunes National Park closed its beaches and a northwest Indiana water utility shut down an intake facility after an orange substance apparently spilled from a U.S. Steel plant into a Lake Michigan tributary, a mayor...
U.S. Court Upholds Ohio Hospital Employee COVID-19 Vaccine Rule
Sep 27 2021 // A federal judge on Sept. 24 ruled that a Cincinnati, Ohio-area healthcare provider could require its employees get vaccinated against COVID-19 or risk losing their job, in what appears to be the first ruling of its kind...
Hong Kong Tycoon Richard Li’s Insurer FWD Makes U.S. IPO Filing Public
Sep 24 2021 // Insurance company FWD Group Holdings Ltd., owned by Hong Kong billionaire Richard Li, made its filing for a stock market listing in the United States public on Thursday, revealing a jump in revenue last year. The insurer,...
U.S. Road Travel Up 11.5% in July
Sep 24 2021 // U.S. motorists drove 11.5% more miles in July as driving nearly matched pre-COVID levels and more Americans returned to offices and took leisure trips. The Federal Highway Administration said Thursday motorists drove 290.1...
U.S. Insurance Regulator Hosting Another Climate Summit
Sep 23 2021 // A report from the Mortgage Bankers Association says there’s little doubt that climate change will impact housing and the housing finance industry, and while just how great that impact will be is as of yet unknown,...
Cyber Insurtech BOXX Raises US$10M From Zurich Insurance and 2 Other Investors
Sep 22 2021 // BOXX, the Toronto-based cyber insurer for small businesses, individuals and families, announced it has closed its oversubscribed US$10 million (C$12.7 million) Series A-round in a bid to accelerate growth and expand its...
Karen Clark & Co. Releases Version 1.0 of U.S. Wildfire Model
Sep 22 2021 // Karen Clark & Co. (KCC), the Boston-based catastrophe modeling company, announced it has released Version 1.0 of its high-resolution U.S. Wildfire Model. This advanced and fully probabilistic model provides exceedance...
Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada
Sep 20 2021 // Foxquilt, a Toronto-based insurtech, announced it has raised an $8 million financing round led by Luge Capital with participation from AmTrust Financial, Extreme Venture Partners and Side Door Ventures. The new capital...
