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Cyber risks lurk far beyond organizations' own walls: Report

Published April 16, 2014 CST

WASHINGTON — Current cyber risk management does not give much consideration to “digital distant perfection” — the aggregation of cyber risks that can lie far beyond an organization's own four walls.

Aspen Insurance rejects hostile takeover bid by Endurance

Published April 14, 2014 CST

Aspen Insurance Holdings Ltd. has rejected a $3.2 billion cash-and-stock hostile offer by Endurance Specialty Holdings Ltd., Hamilton, Bermuda-based Aspen said in a statement Monday.

$1.35B credit facility to fund Brown & Brown acquisitions, future growth

Published April 17, 2014 CST

Brown & Brown Inc. has entered into a five-year $1.35 billion unsecured credit facility to fund acquisitions and future growth, the Daytona Beach, Fla.-based broker announced Thursday.

FedEx has $5M in primary coverage for deadly California truck-bus crash

Published April 11, 2014 CST

FedEx, whose tractor-trailer reportedly crossed a center divide on Thursday, slamming into a chartered bus carrying high school students and killing 10 people, has a $5 million combined single limit policy with Protective Insurance Co.

Mercer projects health reform law's 2015 penalties, HSA and HDHP tax limits

Published April 18, 2014 CST

Mercer L.L.C. has projected the amounts employers can expect to pay in 2015 for failing to comply with the health care reform law's “play or pay” provisions in a report released on Tuesday.

Fired worker only needs to prove comp claim as 'contributing factor': Court

Published April 16, 2014 CST

A lawsuit alleging that an injured worker was fired in retaliation for his workers compensation claim only needed to prove that his claim was a “contributing factor” and not an “exclusive cause” of his discharge, a split Missouri Supreme Court ruled.

Employers still ask applicants about criminal convictions: Survey

Published April 10, 2014 CST

Most employers continue to ask candidates to self-disclose past criminal convictions on job applications, even though the U.S. Equal Employment Opportunity Commission recommends against it and there are state and municipal laws that outright ban the practice, a new survey says.

U.S. health care usage, spending resume rise in 2013: Report

Published April 15, 2014 CST

(Reuters) — Americans used more health services and spent more on prescription drugs in 2013, reversing a recent trend, though greater use of cheaper generic drugs helped control spending, according to a new report.

Lawsuits against nurses could lead to higher professional liability rates

Published April 13, 2014 CST

Insurance industry observers say the trend of increasing payments to indemnify nurse practitioners when they are sued could lead to higher professional liability insurance rates.

Indiana workers comp claims higher, growing faster than similar states: Study

Published April 18, 2014 CST

Workers compensation medical payments in Indiana are costlier and growing at a faster rate than medical claim payments in comparable states, the Workers Compensation Research Institute said this week.

Port Authority of New York and New Jersey sues Aon over payments

Published April 11, 2014 CST

The Port Authority of New York and New Jersey on Thursday sued Aon P.L.C. in New York State Supreme Court, alleging mishandling of commissions and overpayment of premiums from 2008 to 2012.

CBO predicts 6% annual premium hikes for Obamacare plans this decade

Published April 14, 2014 CST

(Reuters) — The average premium for an Obamacare benchmark plan will rise slightly in 2015 and increase about 6% a year during the rest of this decade, the nonpartisan Congressional Budget Office said on Monday.

Intel OK'd to fund benefits through captive insurer

Published April 09, 2014 CST

The U.S. Labor Department has given final authorization for Intel Corp. to use its Hawaii captive insurer to fund benefit risks.

Employers switch to high-deductible plans and private exchanges to cut costs

Published April 13, 2014 CST

Benefit managers who are looking to control rising health care costs have converging trends that can aid them in that effort.

Flexible spending accounts' future uncertain as health care rules evolve

Published April 13, 2014 CST

Internal Revenue Service guidance resolves how to integrate health savings accounts with carry-over flexible spending accounts, but employer interest in carry-over FSAs appears limited.

PERSPECTIVES: Policyholders can use captives to broaden terrorism coverage

Published April 13, 2014 CST

Although policyholders can buy terrorism insurance backed by TRIA, the coverage does not include nuclear, biological, chemical or radiological attacks. To broaden the coverage, policyholders can use their captive insurers to take on the risks; however, careful attention needs to be paid to premiums charged and how the IRS will treat the coverage for tax purposes, says attorney Matthew J. Howard, …

Ironshore expands coverage to include product recall crisis help

Published April 15, 2014 CST

Ironshore Specialty Casualty, a unit of Ironshore Inc., has expanded its crisis management coverage to include a product recall enhancement for product manufacturers.

OFF BEAT: Sunbathers can grin and bare it in shadow of insurance giants

Published April 15, 2014 CST

Germans have a stereotyped reputation among other Europeans for loving both rules and getting naked, and now lawmakers in Munich have ensured that anyone who wants to bare all in the city can do so with impunity.

British insurer RSA names chief operating officer to oversee asset sales

Published April 15, 2014 CST

(Reuters) — British insurer RSA has appointed its emerging markets chief to the newly created role of chief operating officer to oversee sales of non-core businesses as the company shores up its balance sheet.

Primary care provider role exposes nurse practitioners to malpractice risks

Published April 13, 2014 CST

As nurse practitioners assume greater responsibility for providing primary care, they also are becoming more vulnerable to medical malpractice exposures.

Hull and liability aviation rates down 10% at renewals: Aon

Published April 16, 2014 CST

Rates for lead hull and liability aviation insurance fell by an average of 10% during renewals that took place in 2013, according to a report published Wednesday by Aon P.L.C.

U.K.: Hacker steals data on 500,000 cosmetic surgery clients

Published April 17, 2014 CST

The Harley Medical Group, based outside London, said a computer hacker may have extracted data of nearly 500,000 potential clients, The Guardian reported.

Business Insurance IN FOCUS Video: 4 World Trade Center

Published April 17, 2014 CST

Business Insurance's latest video report explores Silverstein Properties' rebuild of 4 World Trade Center in New York.

Market weighs on insurers and reinsurers, but brokers faring better: Analysis

Published April 16, 2014 CST

Property/casualty insurers and reinsurers face a challenging market in 2014 from increased competition, but the outlook for insurance brokers is brighter because of general economic growth, according to an analysis released Wednesday by Barclays Capital Inc.

Hartford signs $500M contract with IBM for cloud computing update

Published April 16, 2014 CST

Looking to modernize its computing infrastructure, Hartford Financial Services Group Inc. announced a six-year technology contract with Armonk, N.Y.-based IBM Corp. on Wednesday.