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$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.

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.

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.

Arizona community college faces class action over data breach

Published April 21, 2014 CST

A proposed class action lawsuit is targeting a community college district in Tempe, Ariz., that allegedly violated several state and federal data protection laws.

Louisiana workers comp costs higher than in most states: Study

Published April 22, 2014 CST

Medical payments for injured workers in Louisiana were higher and growing faster than in most states, with payments per claim increasing more than 7% per year from 2006 to 2011, according to a study by the Workers Compensation Research Institute.

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.

UnitedHealth expanding presence in federal exchanges in 2015

Published April 21, 2014 CST

UnitedHealth Group, the nation's largest insurer, plans to expand its presence in the state and federal exchange marketplaces in 2015.

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, Endurance exchange fire in hostile takeover battle

Published April 21, 2014 CST

Endurance Specialty Holdings Ltd. responded swiftly Monday morning to a letter from Aspen Insurance Holdings Ltd. to its shareholders on Sunday reiterating the reinsurer's criticism and rejection of Endurance's $3.2 billion hostile takeover offer.

Managing general agencies remain strong source of direct premiums: Study

Published April 22, 2014 CST

Insurers and managing general agencies are working together to created a more stable business model and a long-term favorable outlook for growth, says a study on MGAs released Tuesday.

Travelers' profit rises 17% on higher investment income

Published April 22, 2014 CST

(Reuters) — U.S. property/casualty insurer Travelers Cos. Inc. reported a 17% rise in first-quarter profit, helped by higher underwriting gains and an increase in net investment income.

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.

GE recalls hundreds of baby "warmers" in China over safety fears

Published April 01, 2014 CST

(Reuters) — A healthcare unit of General Electric Co. has recalled hundreds of incubator-like infant “warmers” in China over safety concerns as Beijing tightens oversight of the country's fast-growing medical device sector.

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.

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.

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.

Retailer Michaels Stores confirms payment card data breach

Published April 18, 2014 CST

(Reuters) — Michaels Stores Inc. confirmed that there was a security breach at certain systems that process payment cards at its U.S. stores and that of its unit, Aaron Brothers.

Health care exchanges look more appealing to insurers the 2nd time around

Published April 21, 2014 CST

Health insurers appear to be increasingly bullish on the fledgling state and federal exchanges, in spite of disastrous rollouts in many of the online marketplaces last fall. Mounting evidence suggests more health plans are poised to compete for exchange business during the 2015 open-enrollment period.

TTD benefits end when workers are cleared to return to work: Miss. high court

Published April 22, 2014 CST

The Mississippi Supreme Court has ruled that temporary total disability workers compensation benefits end for injured workers when they are cleared to return to their previous employment, even if they haven't reached maximum medical improvement.

Berkley Corp. first quarter net income up 45.5% over last year

Published April 22, 2014 CST

W.R. Berkley Corp. posted $169.8 million in net income for the first quarter of 2014, an increase of 45.5% from the first quarter of last year.

PRIMA to train government risk managers on ISO 31000 standard for ERM

Published April 21, 2014 CST

The Public Risk Management Association is developing a program aimed at training a group of government risk managers to train others in the public sector on implementing enterprise risk management using the ISO 31000 standard.

Property/casualty insurer results strong in 2013 fourth quarter: Survey

Published April 21, 2014 CST

The U.S. property/casualty insurance industry's net income for the fourth quarter of 2013 soared to $20.76 billion from $7.25 billion during the same period a year earlier, according to a survey released Monday.

Marsh & McLennan hires Eddie Dunn as director of veteran recruitment

Published April 21, 2014 CST

Marsh & McLennan Cos. Inc. has named Eddie Dunn as director of military and veteran affairs, responsible for managing veteran recruitment strategy, the broker said Monday.

Plant manager's age bias lawsuit reinstated by appeals court

Published April 18, 2014 CST

A 62-year-old man who was terminated from his position as a printing plant facilities manager has provided sufficient evidence to establish he may have been unlawfully replaced by a younger employee, despite the company's claims to the contrary, says an appeals court, in reversing a lower court ruling and reinstating an age discrimination lawsuit.

SEC's information technology at risk of hacking: Report

Published April 18, 2014 CST

(Reuters) — The SEC has failed to protect its data network against possible breaches, to encrypt highly sensitive information, or to use strong enough passwords.