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RISK MANAGEMENT

Falling oil prices place new emphasis on risk management in energy sector

The ongoing drop in oil prices is putting new emphasis on risk management in the energy sector as insurers brace for potential market changes.


The 2015 Innovation Awards winners
are …

Business Insurance on Friday announced 10 winners of the 2015 Innovation Awards, the publication's recognition program for products and services designed for use by professional risk managers.

SPECIALTY RISKS

Marsh, Hiscox executives to join Swiss Re cyber team

Swiss Re Corporate Solutions on Thursday said it has named former Marsh L.L.C. and Hiscox Ltd. executives to its cyber and technology team.


Wal-Mart settles with family of comedian killed in Tracy Morgan crash

Wal-Mart Stores Inc. has reached a settlement with the family of the comedian killed in the crash that seriously injured comedian Tracy Morgan, the retailer said.

BENEFITS MANAGEMENT

Republicans move to kill health reform law's individual mandate

Legislation that would eliminate the health reform law's mandate for most Americans to buy insurance was introduced Wednesday by a pair of senators running the committees with the most influence over health care issues.


Timken to buy Prudential annuity for pension benefits

North Canton, Ohio-based bearings and power transmissions manufacturer The Timken Co. said it is buying a group annuity to provide pension benefits to about 5,000 retirees and their beneficiaries.

BROKERS & INSURERS

Alliant to buy QBE's U.S. specialty agencies for $300 million

QBE Insurance Group Ltd. will sell its U.S. agency businesses to Alliant Insurance Services Inc. for about $300 million, the Sydney-based insurer said Tuesday.


Willis promotes executives in China unit

Willis Group Holdings P.L.C. on Friday said it has promoted three senior executives in its Willis China unit, effective Jan. 26.

MID-MARKET EXECUTIVE

Insurance broker team joins Insgroup from Dean & Draper

A former partner at Houston-based Dean & Draper Insurance Agency L.P., J. Mace Meeks, has joined insurance broker Insgroup Inc., bringing along annual premium of $35 million and nine associates, Insgroup announced.


Green Bay banking company acquiring consulting firm for $48 million

The deal which is expected to close in February, could cost as much as $56 million if certain contingencies are met, Green Bay, Wisconsin-based Associated Banc-Corp said in a statement released Jan. 16.

WORKERS COMP

Medical marijuana deemed 'reasonable and necessary' in N.M. workers comp case

Medical marijuana should be classified as “reasonable and necessary medical care” and paid for under a New Mexico man's workers compensation claim, the New Mexico Court of Appeals ruled last week.


Mental illness disability claims require specialized input

PHILADELPHIA — More often than not, effective management of disability insurance claims related to mental illness requires a specialized understanding of the comorbid relationships they share with physical medical conditions.

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INSIGHTS & SOLUTIONS

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