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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.


NLRB ruling that McDonald's is joint employer could increase franchising risks

A determination by the National Labor Relations Board's general counsel that McDonald's Corp. should be considered a “joint employer” with its franchisees could dramatically increase franchisors' potential liabilities should it become …

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.


Congress faces pressure to resolve multiemployer pension woes

When federal lawmakers passed the Employee Retirement Income Security Act in 1974, they put aside a key issue affecting a big slice of the pension universe: multiemployer plans.

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.


Insured losses from Napa earthquake could reach $1 billion

The magnitude 6.0 earthquake that shook the Napa Valley region last week caused up to $1 billion in insured losses, with damage centered in the city of Napa enabling the nearby wine industry to emerge mostly unscathed.

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.


Larger buyers slow to adopt electronic insurance placement

While placing commercial insurance electronically has the potential to benefit the buyer and the seller, it has yet to gain widespread acceptance and even faces some resistance.

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.


Florida exclusive remedy ruling may upend workers compensation system

Injured workers in Florida might be able to receive both workers compensation benefits and civil liability damages should an appeal filed last week by the Florida attorney general’s office fail to overturn a ruling that declared the…

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