Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
FCC Chief Vows to Advance New Social Media Company Liability Rules
Oct 16 2020 // Federal Communications Commission chairman Ajit Pai said Thursday the agency will move forward to set new rules to clarify the meaning of a key legal protection for social media companies. The announcement came as...
What 3Q Catastrophe Losses Mean for U.S. P/C Results
Oct 16 2020 // Driven by an elevated frequency of events during the quarter, third quarter natural catastrophe losses for the U.S. property/casualty insurance industry will be the largest since the third quarter of 2017, according to...
Catastrophe Risk Experts Estimate Up to $3B in U.S. Insured Losses from Delta
Oct 15 2020 // Two catastrophe risk and property data providers have estimated U.S. onshore insured losses from Hurricane Delta will come in at between $0.7 billion and $3 billion. Global property information, analytics and data provider...
States Oppose U.S. Settlement with Purdue Over OxyContin
Oct 15 2020 // A group of 25 state attorneys general oppose a settlement of U.S. opioid probes being negotiated with Purdue Pharma LP and members of the wealthy Sackler family who own it, arguing the deal would improperly entangle state...
Weighing Effects of Treasury’s Ransomware Pay Warnings on Cyber Victims and Insurers
Oct 15 2020 // Recent warnings from the U.S. Treasury about paying ransomware demands are unlikely to substantially change how cyber insurers cover or handle such situations, according to experts. However, the advisories are likely to up...
Canada’s Intact Rebrands OneBeacon, All North American Specialty Insurance as Intact
Oct 14 2020 // Intact Financial Corp. is bringing together its Canadian and U.S. specialty insurance operations under a single brand: Intact Insurance Specialty Solutions. The U.S. businesses had previously operated under the OneBeacon...
Radiation Near Fracking Sites Poses Potential But Not Extreme Health Risk
Oct 14 2020 // Radiation levels downwind of U.S. hydraulic fracturing drilling sites tend to be significantly higher than background levels, posing a potential health risk to nearby residents, according to a study by Harvard researchers...
Supreme Court Will Decide Constitutionality of Patent Appeal Board Appointments
Oct 14 2020 // The U.S. Supreme Court on Tuesday agreed to decide whether more than 100 technology disputes must be reheard because judges were unconstitutionally appointed to a U.S. Patent and Trademark Office tribunal in a case arising...
AXIS Capital Estimates Q3 Pre-Tax Catastrophe Losses of $225M-$255M
Oct 14 2020 // AXIS Capital Holdings Ltd. announced a preliminary pre-tax net loss estimate in the range of $225 million to $255 million ($190 million to $220 million, after-tax) for third quarter catastrophes and other events. This net...
Karen Clark & Co. Estimates $950M Insured Loss in U.S. from Delta
Oct 13 2020 // The catastrophe risk modeling firm Karen Clark & Co. (KCC) has estimated that the insured loss to onshore properties from Hurricane Delta will be close to $1.25 billion, which includes $950 million wind and storm surge...
The Impact of Political Risks on Businesses
Oct 13 2020 // Civil unrest incidents such as protests and riots are challenging terrorism as the main political risk exposure for companies. Recently, events such as the French “yellow vest” protests (insured losses around...
U.S. Dept. of Labor Orders Tennessee Restaurant Chain to Pay $563K in Back Wages
Oct 13 2020 // A small Tennessee restaurant chain has been ordered to pay $563,350 in back wages to 120 employees after the U.S. Department of Labor found it violated minimum wage and overtime rules. Don Pancho Mexican Restaurant kept a...
Facing Deceptive Opioid Marketing Suits, Mallinckrodt Files for Bankruptcy
Oct 12 2020 // Mallinckrodt Plc filed for bankruptcy protection on Monday, saddled with lawsuits alleging it fueled the U.S. opioid epidemic and after it lost a court battle to avoid paying higher rebates to state Medicaid programs for...
Oklahoma High Court OK’s US Chamber’s Support of $465M Opioid Judgment Appeal
Oct 12 2020 // The U.S. Chamber of Commerce can support Johnson & Johnson’s bid to overturn a $465 million judgement against the opioid manufacturer, the Oklahoma Supreme Court has ruled. The court allowed the Chamber along...
Senator Calls on U.S. to Delay IPO by China’s Ant Group
Oct 12 2020 // Senator Marco Rubio, who has successfully urged the Trump administration to pursue investigations of Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering of...
Returning After Hurricane Delta, Louisiana Evacuees Face Power Outages, Extreme Heat
Oct 11 2020 // 10/11/2020 06:21 PM— Storm-weary coastal Louisiana residents who fled from the path of Hurricane Delta in recent days streamed back to their homes on Sunday to face cleanup and repairs from the second hurricane to batter...
U.S. Olympics Sues Insurers Over Stalled Nassar Sex Abuse Settlement
Oct 11 2020 // The United States Olympic and Paralympic Committee (USOPC) said on Friday it has filed a lawsuit against its insurance providers for failing to fulfill obligations in reaching a settlement with survivors of the Larry...
U.S. Sues Yale University Claiming Illegal Favoritism for Blacks, Hispanics in Admissions
Oct 9 2020 // Yale University was sued by the U.S. Department of Justice, which claims the Ivy League school illegally discriminates against White and Asian-American applicants in undergraduate admissions by favoring Black and Hispanic...
China’s Ping An-Backed Lufax Files for $3 Billion U.S. IPO
Oct 9 2020 // Lufax Holding Ltd., one of China’s largest online wealth management platforms, on Wednesday filed to list its shares in the United States, the latest company looking to take advantage of a rebound in capital...
Update: Louisiana Residents Flee as Delta Bears Down on U.S. Gulf Coast
Oct 8 2020 // 10/09/2020 10:41 AM LAKE CHARLES, La., Oct 9 — The streets in Lake Charles in southwest Louisiana were deserted as a powerful Hurricane Delta approached, threatening to add misery to people struggling to recover from the...
