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RISK MANAGEMENT

Honda to recall 63,200 vehicles over Takata air bag defect

(Reuters) — Honda Motor Co. is recalling about 63,200 vehicles due to a defect in driver-side air bags made by Takata Corp., the latest in a series of air bag recalls across the industry that have affected nearly 16 million vehicles to date.


China arrests six staff members at meat supplier after food safety scare

(Reuters) — Chinese police have formally arrested six staff menbers from a unit of U.S. meat supplier OSI Group Inc., the company said in a statement on Friday.

SPECIALTY RISKS

JPMorgan probes possible cyber attack; other banks reportedly hit

(Reuters) — JPMorgan Chase & Co. is investigating a possible cyber attack and working with law enforcement authorities to determine the scope, a company spokeswoman said on Thursday morning.


OFF BEAT: Sports car bath lands driver in hot water

A YouTube video has sunk a Texas man's attempt to defraud insurers out of $2.2 million for “accidental” water damage to his Bugatti sports car.

BENEFITS MANAGEMENT

Aon Hewitt adding voluntary benefit options to private health exchange

Aon Hewitt on Thursday said it is planning to add voluntary benefit plans to the menu of coverages available through its private health insurance exchange, largely due to rising employer demand for a wider variety of exchange-based benefit options.


Brink's offers lump-sum payment to former employees

The Brink's Co., Richmond, Va., announced on Friday it has offered certain former employees who are vested in its U.S. defined benefit plan the option to accept a lump sum.

BROKERS & INSURERS

Benmosche says cancer prognosis led to earlier retirement from AIG

As he prepares to step down as chief executive officer of American International Group Inc. on Sept. 1, Robert H. Benmosche revealed that his ongoing cancer prognosis forced him to move up his planned retirement by several months.


S&P downgrades Cooper Gay credit rating to B-

Standard & Poor's Corp. has downgraded Cooper Gay Swett & Crawford Ltd.'s credit rating to B- from B due to disappointing operational performance through the first half of 2014.

MID-MARKET EXECUTIVE

Vermont residents spend less on health care, but clouds are looming

With Vermont's ambitions for universal health care by 2017, reports say privately insured patients spent less time hospitalized and used more generic drugs than the average U.S. patient, in lieu of health reform.


OFF BEAT: Adjuster who drove her way out of a job winds up with settlement

Even when a loss assessor contributes to losses for the insurer she works for it’s apparently not sufficient grounds in Ireland to fire her.

WORKERS COMP

Company kickball-game injury qualifies for comp: S.C. Supreme Court

A South Carolina worker who was injured in a kickball game he organized for his employer should receive workers compensation benefits because he was expected by his employer to attend the game, the South Carolina Supreme Court has ruled.


Ohio high court lets 'new' arena football team shed past comp experience

Workers compensation rates for an arena football team’s new owner should not be based on the “entire” experience rating of the team under its former owner, the Ohio Supreme Court has ruled.

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