Willis unveils risk analysis tools
Willis Group Holdings P.L.C. on Tuesday launched analytical tools for determining natural catastrophe risk, cyber risk, directors and officers liability risk and casualty-related losses.
View ArticleHSBC Bank discloses hack of mortgage customers
Information on an undisclosed number of current and former mortgage customers of New York-based HSBC Bank USA N.A. was breached over a period of several months, the bank said Tuesday.
View ArticleWorkers comp prescription drug costs up in 2014
Workers compensation prescription drug spending per worker increased 1.9% last year, but a 5.4% decrease in drug utilization helped offset a 7% increase in overall prescription costs, according to...
View ArticleInsurance CIOs more pessimistic about finding attractive investment...
Insurance companies are more pessimistic than they’ve been in years about finding attractive investment opportunities due to global monetary policies pushing yields to ultra-low or even negative...
View ArticleFormer AIG exec takes management liability practice post
Matthew Kletzli has joined Victor O. Schinnerer & Co. as senior vice president and management liability practice leader, the Chevy Chase, Maryland-based managing general underwriter said Wednesday.
View ArticleMore workers died on the job in 2013 than originally reported
The U.S. Bureau of Labor Statistics on Wednesday released revised worker fatality data showing that 4,585 workers died on the job in 2013, up from the preliminary count of 4,405 reported in September...
View ArticleDefinition of 'expenses' at center of insurer policy dispute
The term “expenses” in an insurance policy encompasses attorneys’ fees in a variety of contexts, said an appeals courting ruling in favor of Arch Specialty Insurance Co. in a dispute with Amerisure...
View ArticleWhistleblowing compliance officer to get $1.5 million award
A compliance officer will receive a whistleblower award of between $1.4 million and $1.6 million, the U.S. Securities and Exchange Commission said Wednesday.
View ArticleNFL concussion class action settlement approved
A federal judge in Philadelphia on Wednesday granted final approval to a settlement in a class action lawsuit brought by more than 4,500 former players against the National Football League for...
View ArticleAllied World reports income drop for first quarter
Allied World Assurance Co. Holdings A.G. saw net income drop 29.7% to $124.4 million as expenses rose sharply and the company’s combined ratio worsened in the first quarter of 2015.
View ArticlePolicy checker program offers error solutions for brokers
Document analysis software company Adsensa Ltd. has launched an insurance policy-checking product for North American brokers that aims to minimize potential errors and omissions exposures and reduce...
View ArticleCase over hiring women on oil rigs settles; $1.5 million jury award upheld
An Oklahoma oil drilling company has reached a $400,000 settlement with the U.S. Equal Employment Opportunity Commission in a case in which it was charged with systemic sex discrimination, the agency...
View ArticleTwo shareholders sue American Apparel over CEO's ouster
(Reuters) — Two American Apparel shareholders have filed a lawsuit against the clothing and accessories retailer, alleging its founder and former CEO Dov Charney was fired because he refused to sell...
View ArticleInsurer not liable for settlement made without its permission
A Georgia Supreme Court ruling that an insurer is not liable for refusing to indemnify a policyholder that settled a case without the insurer's permission is out of step with the vast majority of...
View ArticleTruckers strike four shipping companies at Southern California ports
(Reuters) — Tractor-trailer drivers who haul freight from the ports of Los Angeles and Long Beach went on strike on Monday against four trucking companies, a Teamsters union official said, in a move...
View ArticleEndorsement targets health care infectious disease outbreak losses
Hamilton, Bermuda-based Ironshore Inc.’s specialty health care insurer IronHealth endorsement on excess policies for emerging infectious disease business interruption coverage.
View ArticleRingling Bros. to pay fine, boost safety after 'hair-hanging' accident
The Occupational Safety and Health Administration said Monday that Palmetto, Florida-based Feld Entertainment Inc., owner of Ringling Bros.
View ArticleAssurant to sell money-losing health insurance operations
Insurance giant Assurant Inc. is looking to sell its health insurance division, Assurant Health — a company that has been active on the health care Act exchanges but has hemorrhaged tens of millions of...
View ArticleManufacturer gets final OK to fund benefits in captive
The Labor Department Wednesday gave final authorization to Sealed Air Corp. to fund several benefit risks through its Vermont captive insurance company.
View ArticleOklahoma high court rejects alternative workers comp system challenge
The Oklahoma Supreme Court has rejected assuming jurisdiction over a lawsuit alleging that the state’s alternative workers compensation system is unconstitutional.
View Article