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RISK MANAGEMENT

Insurer CEOs say success depends on smart risk selection

NEW YORK — Increased capacity in the property/casualty market is putting more pressure on insurers and reinsurers, and they will need to adapt their operating strategies in order to succeed, a group of senior executives from across the…


PlayStation hacking case draws fire from insurance industry backers

The commercial general liability policy’s advertising injury provision was never intended to cover cyber risks, say two insurance organizations in papers filed in connection with litigation in Sony’s 2011 PlayStation Network hack.

SPECIALTY RISKS

McDonald's faces civil rights lawsuit from former workers in Virginia

(Reuters) — Former McDonald's workers in Virginia filed a civil rights lawsuit Thursday against the fast-food chain and owner of restaurants where they worked in the latest bid to hold it legally responsible for the actions of its franchisees.


Court says misleading manual provides FMLA coverage

A Michigan county road commission employee was entitled to coverage under the federal Family Medical Leave Act, even though the commission was not obligated to provide the coverage, because of a misleading statement in its employee manual, says…

BENEFITS MANAGEMENT

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.


401(k) balances hit record high

Fueled by a strong equities market, employees' 401(k) plan account balances hit a record high at the end of last year, Fidelity Investments said in an analysis released Thursday.

BROKERS & INSURERS

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.


US Assure names senior vice president of insurance operations

US Assure Inc., a construction and commercial insurance broker, has promoted Steve Bristow to its executive team as senior vice president of insurance operations.

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

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.


Fight with employer bars worker from disability benefits

An Ohio worker who quit his job on his first day of light-duty work is entitled to workers compensation benefits but not temporary total disability benefits, a divided Ohio Supreme Court ruled.

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INSIGHTS & SOLUTIONS

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