Cyber coverage a double-edged sword for insurance industry
Cyber insurance is a growth opportunity for the insurance industry that also presents an “incalculable threat,” says Fitch Ratings Ltd. in a report issued Thursday.
View ArticleMartial arts fighting fireman charged with stealing disability pension
A former New Jersey firefighter has been charged with fraudulently collecting more than $82,000 through a disability pension while teaching jiujitsu and participating in a mixed martial arts...
View Article2015 Risk Management Summit
Risk managers from the United States and Europe gathered at the Roosevelt Hotel in New York on March 4-5 for the Risk Management Summit, a Business Insurance annual networking and educational conference.
View ArticlePrivate sector lags on cyber security
Despite the recent spate of highly-publicized data breaches, companies and their insurers are still struggling to get their arms around the risks represented by cyber crime, speakers said at the 10th...
View ArticleABR Reinsurance to raise nearly $1.3 billion
ABR Reinsurance Capital Holdings Ltd., the reinsurance venture between Ace Ltd. and investment bank Blackrock Inc. has filed documents with the Securities and Exchange Commission indicating the venture...
View ArticleComp insurer loses in blaming competitors for hurt business
A Montana workers compensation insurer can't sue its competitors for unfair trade practices after it claimed other insurers spread “falsehoods” about the company to potential workers comp insurance...
View ArticleGlobal business interruption losses required robust claims management strategies
Superstorm Sandy, which hit the northeast U.S., and massive flooding in Thailand are among catastrophes that have reshaped the way insurers and buyers deal with business interruption claims.
View ArticleHumana to sell Concentra medical center unit for $1 billion
(Reuters) — Health insurer Humana Inc. said on Monday that it would sell its Concentra urgent care and physical therapy services unit for about $1 billion to private equity firm Welsh, Carson, Anderson...
View ArticleHouse lawmakers introduce bipartisan bill to reform U.S. risk panel
(Reuters) — A Republican congressman and a Democratic colleague have introduced a bill to shed more light on the workings of the Financial Stability Oversight Council, which watches for emerging...
View ArticleU.S. Supreme Court revives pregnant worker's case against UPS
(Reuters) — The U.S. Supreme Court on Wednesday revived a woman driver’s pregnancy discrimination claim against package delivery company UPS Inc. by sending the case back to a lower court.
View Article'Farmville' firm must face lawsuit alleging fraud tied to IPO
(Reuters) — Zynga Inc. must face a lawsuit accusing the online gaming company known for “FarmVille” of defrauding shareholders about its prospects before and after its December 2011 initial public...
View ArticleBermuda reinsurer exiting business
AQR Re Management Ltd., the reinsurance arm of Greenwich, Connecticut-based AQR Capital Management L.L.C., will stop writing business April 1.
View ArticleNurse allergic to floor wax qualifies for workers comp
A Pennsylvania nurse should receive workers compensation benefits for exposure to a floor wax that caused her to have breathing problems, even though she has since moved on to a new part-time job and...
View ArticleYemen conflict may drive up marine insurance rates
(Reuters) — Conflict in Yemen risks spilling out into the busy sea lanes that pass it and potentially disrupting the narrow Bab el-Mandeb passage through which nearly 4 million barrels of oil are...
View ArticleFormer American Apparel CEO seeking $40 million in damages
(Reuters) — The founder and former CEO of American Apparel Inc., Dov Charney, plans to file a lawsuit claiming $40 million in damages for breaches of his employment contract, and more lawsuits are...
View ArticleCalifornia looking at 10.2% reduction in workers comp rates
The California Workers’ Compensation Insurance Rating Bureau is set to request a 10.2% mid-year reduction in advisory workers compensation rates based on lower-than-expected medical losses and claim...
View ArticleCooper Gay Swett & Crawford create MGA for professional liability market
Cooper Gay Swett & Crawford Ltd.'s North America unit has launched StatPro Underwriters, a managing general agent serving the U.S. miscellaneous professional liability insurance market.
View ArticleInsurance broker ups stake in managing general underwriter
BB&T Insurance Holdings Inc., a subsidiary of BB&T Corp., will increase its stake in AmRisc L.P. to a majority while selling American Coastal Insurance Co. to certain members of the AmRisc...
View ArticleOSHA addresses violence in health care, social service industries
The U.S. Occupational Safety and Health Administration has updated its guide for protecting health care and social service workers from workplace violence, the agency said Thursday.
View ArticleXL launches venture capital initiative
XL Group P.L.C. is launching an XL-sponsored venture capital initiative called XL Innovate, the Dublin-based insurer said.
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