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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.


Malaysia police arrest 42 foreigners after riot at export factory

(Reuters) — Malaysian police have arrested 42 men after a riot by up to 1,000 mostly Nepalese workers sparked fires and destroyed parts of an electronics export factory, highlighting accusations of poor conditions for many of the estimated…

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.


PricewaterhouseCoopers must face $1B lawsuit over MF Global advice

(Reuters) — A federal judge on Wednesday ordered PricewaterhouseCoopers L.L.P. to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the October 2011 bankruptcy of MF Global Holdings Ltd., a…

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.


Ariel co-CEO Milligan to retire after sale of Ariel Re

Tom Milligan, co-CEO of Ariel Holdings Ltd., will retire upon completion of the sale of Ariel’s reinsurance operations, Ariel Re, to Sao Paulo-based investment bank Banco BTG Pactual S.A.

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

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.


NCCI proposes 2.5% workers comp rate decrease for Florida in 2015

The National Council on Compensation Insurance Inc. has proposed a statewide workers compensation rate decrease in Florida for the first time in four years, the Florida Office of Insurance Regulation said.

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