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RISK MANAGEMENT

U.S. inspector wanted reactor shut on quake fears: Report

(Reuters) — A federal nuclear inspector urged U.S. regulators to shut down a California nuclear power plant until tests showed its reactors could withstand quake shocks.


Heinz recall brings food tracking issue to the fore in China

(Reuters) — The entanglement of H.J. Heinz Co. in China's latest food scare highlights a key concern for international and local firms.

SPECIALTY RISKS

Cover offered via Lloyd's syndicates for commercial marijuana industry

A recently formed insurance agency is offering the commercial marijuana industry general liability and related insurance coverage on a surplus lines basis through several Lloyd's of London syndicates.


Philip Morris ordered to defend fraud suit over U.S. military vendors

(Reuters) — A U.S. appeals court on Tuesday revived a lawsuit against Philip Morris USA Inc. that claims the tobacco company defrauded the federal government by failing to sell cigarettes to military vendors at the lowest price.

BENEFITS MANAGEMENT

Pension contribution changes part of Philadelphia's deal with union

Philadelphia reached a tentative seven-year contract agreement with the representatives from the city's largest municipal workers' union, AFSCME District Council 33.


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

In Vermont, a state with ambitions for universal health care by 2017, privately insured patients spent less time hospitalized and used more generic drugs than the average U.S. patient during the five years leading up to and including the year…

BROKERS & INSURERS

Global reinsurers' underwriting profits down in first half of 2014: Fitch

The underwriting profits posted by global reinsurers fell in the first half of 2014 compared with the first six months of 2013, although the sector remained profitable, according to a report published Tuesday by Fitch Ratings Inc.


Global insured losses from disasters reach $21B in first half: Swiss Re

Worldwide insured losses from disasters totaled about $21 billion in the first half of 2014, down from $25 billion in the comparable period last year and lower than the 10-year average for first-half losses of $27 billion, according to a report…

MID-MARKET EXECUTIVE

Obama administration floats new prescription contraceptive rules

The Obama administration sought to end a long-running controversy by proposing new ways to enable employees of nonprofit religiously affiliated organizations for prescription contraceptives.


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

CMS to launch Medicare set-aside calculator for prescription drug costs

The U.S. Centers for Medicare and Medicaid Services plans to launch an online tool allowing workers compensation claim payers to determine how much money should be allocated for prescription drugs in Medicare set-aside accounts.


Growing earnings, workforce pushed comp costs up 6.9% in 2012: Report

Workers compensation costs paid by employers rose 6.9% to $83.2 billion year-over-year in 2012, driven largely by an increase in worker numbers and earnings, the National Academy of Social Insurance said Tuesday in a report.

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