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Ace excludes Ebola claims for some new and renewal general liability policies

Published October 21, 2014 CST

Ace USA confirmed Tuesday that it will exclude coverage for Ebola claims under new and renewal general liability polices issued to companies that have exposures to certain African countries.

Campaign encourages young workers to take path to insurance industry

Published October 20, 2014 CST

The insurance industry has launched an initiative to attract millennials to the profession.

Willis, Miller in talks to join forces in new Lloyd's brokerage

Published October 20, 2014 CST

Willis Group Holdings P.L.C. and Miller Insurance Services L.L.P. are in talks to create a London wholesale specialist broking firm which would combine the companies' wholesale businesses under the Miller brand as a stand-alone entity and separate Lloyd's broker, Willis said Monday.

HHS form for health reform law reinsurance fee to be available Friday

Published October 21, 2014 CST

A long-awaited form employers will use to provide the HHS with information regulators will need to calculate the amount of a “reinsurance” fee mandated by the health care reform law will be available online starting Friday.

Property and casualty rates soft, but aviation rates could soar in 2015

Published October 21, 2014 CST

Commercial property and casualty rates will continue to be soft during 2015 as other lines like commercial aviation and in some cases cyber coverage could show strength.

Humana looks to sell urgent care subsidiary Concentra: Sources

Published October 22, 2014 CST

(Reuters) — Health insurer Humana Inc. is exploring a sale of its urgent care subsidiary Concentra in a deal that could value it at around $1 billion, according to three people familiar with the matter.

IRS announces maximum 401(k) plan contribution limits for 2015

Published October 23, 2014 CST

The maximum contribution that can be made to 401(k) plans in 2015 will rise to $18,000, up from the current $17,500 limit, the Internal Revenue Service announced Thursday.

Employers taking action to avoid ACA excise tax

Published October 16, 2014 CST

Forty percent of employers say they expect at least one of their health care plans to be affected by a health care reform law-authorized excise tax — unless they act — with many already taking steps to reduce the likelihood that they will be hit by the tax.

Senators want rules on corporate pension de-risking

Published October 23, 2014 CST

The chairmen of two Senate committees are asking the heads of several federal agencies to develop guidance on one of the hottest defined benefit pension plan trends: employer moves to “de-risk” the plans.

Ironshore expanding into agriculture sector

Published October 20, 2014 CST

Ironshore International, a unit of Hamilton, Bermuda-based Ironshore Inc., said Monday it plans to enter the agriculture sector, offering capacity limits of up to $10 million, with the appointment of a divisional director.

Western World CEO to retire upon takeover by Validus

Published October 21, 2014 CST

Thomas Mulligan will retire as president and CEO of Western World Insurance Group Inc. effective Jan. 1, 2015, following the completion of the firm’s acquisition by Validus Holdings Ltd., on Oct. 2, Western World said in a statement Tuesday.

EEOC suits contend wellness programs violate disability law

Published October 12, 2014 CST

The EEOC recently filed lawsuits against two Wisconsin companies that underscore the need for more clarity on rules that govern employers' use of financial incentives to motivate employee participation in workplace wellness programs.

Justice Department to increase focus on cyber threat, economic espionage

Published October 22, 2014 CST

The Justice Department is making strategic changes to put additional focus on the protection of national assets from the threat of state-sponsored economic espionage and proliferation, including through cyberspace.

Chubb sees profit of $594M in third quarter

Published October 23, 2014 CST

Chubb Corp. reported 2014 third-quarter net income of $594 million, a 9.8% increase from the same period last year, the insurer said Thursday.

Allied World profit drops; business segments to be reorganized

Published October 23, 2014 CST

Third-quarter net income at Allied World Assurance Co. Holdings A.G. fell 74.8% from the prior-year period to $30.9 million as the Zug, Switzerland-based underwriter contended with increased catastrophe losses.

Medical evacuation services draw line at flying out Ebola patients

Published October 10, 2014 CST

(Reuters) — Leading companies offering medical evacuation services are drawing a line at flying Ebola patients out of West Africa for treatment abroad as the cost and the complexities of the deadly epidemic grow.

Doctors prescribe more Schedule II painkillers for injuries in four states

Published October 16, 2014 CST

Physicians in Pennsylvania, Maryland, Massachusetts and New Jersey prescribed Schedule II narcotics to injured workers more frequently than physicians in other states.

California's Prop 46 could boost medical professional liability rates

Published October 21, 2014 CST

Passage of California's Proposition 46 could result in higher medical professional liability insurance rates, according to a study released by A.M. Best Co. Inc. on Tuesday.

Hurricane Gonzalo damaged roofs, knocked out power in Bermuda

Published October 20, 2014 CST

Hurricane Gonzalo hit Bermuda Friday night, leaving damaged roofs and electricity outages in its wake, catastrophe modeling firm AIR Worldwide said in a statement Monday.

McConnell's claims on Kentucky exchange, Obamacare baffle experts

Published October 21, 2014 CST

Senate Minority Leader Mitch McConnell, R-Ky., has made a habit of saying that repealing the ACA would not necessarily mean shutting down Kentucky's popular insurance exchange.

Acquisitions help boost Brown & Brown third-quarter revenue

Published October 21, 2014 CST

Brown & Brown Inc. posted third-quarter revenue of $421.3 million, a 17.3% increase over that of the same period in 2013, the Daytona Beach, Florida-based broker reported.

Swiss Re to sell U.S. life unit Aurora to RGA

Published October 21, 2014 CST

(Reuters) — Swiss Re Ltd. on Tuesday said it is selling its U.S. life insurance arm, Aurora National Life Assurance Co., to Reinsurance Group of America Inc. for an undisclosed price.

Starr Cos. expands cyber insurance offerings

Published October 21, 2014 CST

Starr Cos. is introducing primary cyber insurance that provides coverage for both first- and third-party costs, the New York-based insurer said.

Lockheed Martin to forgo pension contributions in 2015 through 2017

Published October 22, 2014 CST

Lockheed Martin Corp. announced Tuesday it has contributed $1 billion in contributions to its defined benefit plans thus far in 2014 out of an expected $2 billion and does not expect to make further contributions for at least three more years.

U.S. regulators expand number of vehicles affected by Takata recalls

Published October 22, 2014 CST

(Reuters) — U.S. safety regulators on Wednesday expanded the number of vehicles in the United States that may be affected by recalls for potentially defective Takata Corp. air bags that could spray shrapnel at occupants.