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Reporting delays tied to higher workers comp claim costs

Published May 26, 2015 CST

Delays in reporting work-related injuries can cause workers compensation claim costs to increase by up to 51%, according to the National Council on Compensation Insurance Inc.

Planned out-of-pocket caps for health care could cost employers

Published May 27, 2015 CST

New federal health care reform law regulatory guidance ends lingering uncertainty on how much in out-of-pocket costs employers with high-deductible plans can require employees to pick up.

Cost of data breach increases to average of $3.8 million

Published May 27, 2015 CST

(Reuters) — The cost of data breaches is rising for companies around the world as sophisticated thieves target valuable financial and medical records, according to a study released on Wednesday.

School's lost AIG policy existed: Court

Published May 28, 2015 CST

A New Hampshire middle school has presented plausible evidence that it had a nearly 50-year-old commercial general liability policy with an AIG unit, even though no one can find a copy of it.

Health insurer Humana explores sale

Published May 29, 2015 CST

(Reuters) – Humana Inc. is considering selling itself after receiving multiple expressions of takeover interest, a person familiar with the matter said on Friday, highlighting the potential for further consolidation in the U.S. health insurance industry.

Worksite health centers set to expand

Published May 28, 2015 CST

While less than half of large U.S. employers offering on-site health facilities plan to add new centers, the majority expect to broaden the on-site health services they currently offer, a new survey shows.

Starr wins damage suit from claims management firm

Published May 28, 2015 CST

A New York jury has awarded Starr Indemnity & Liability Co. $1.6 million in fees and reimbursements and $2.8 million in punitive damages in litigation the insurer had filed against a claims management unit of Brown & Brown Insurance Inc.

Cuts, changes will save XL Catlin $250 million

Published May 29, 2015 CST

The CEO of XL Catlin is “delighted” with the state of the combined entity recreated by XL P.L.C.'s $4.28 billion acquisition of Catlin Group Ltd. a month after the deal closed.

Many Americans have no retirement savings

Published May 27, 2015 CST

(Reuters) — Many Americans are not financially prepared for retirement, with almost a third of working adults without savings or a pension, according to a Federal Reserve survey published on Wednesday.

Marsh & McLennan opens data analytics center in Ireland

Published May 28, 2015 CST

Marsh & McLennan Cos. Inc. has opened the Marsh & McLennan Innovation Center in Dublin, the company announced Thursday.

Gallagher's international growth sparks U.K. financial inquiry

Published May 26, 2015 CST

Arthur J. Gallagher, the London-based international operations of broker Arthur J. Gallagher & Co., has acknowledged it is cooperating with Britain’s Financial Conduct Authority on a report about the firm’s operations.

Opioid addiction suit puts workers comp payers on alert

Published May 21, 2015 CST

Experts urge workers compensation payers to take steps to avoid overprescribing or doctor shopping following a state Supreme Court's decision allowing patients to sue physicians and pharmacies for contributing to their addiction to opioids.

Illinois governor pushes workers comp reform

Published May 26, 2015 CST

Workers compensation reform bills to advance Illinois Gov. Bruce Rauner's fiscal turnaround plan for the state have been filed in the state House of Representatives and Senate.

Airline hacker case points to deeper cyber issues

Published May 26, 2015 CST

(Reuters) — Security researcher Chris Roberts made headlines last month when he was hauled off a plane in New York by the FBI and accused of hacking into flight controls via his underseat entertainment unit.

Drugmakers funnel payments to high-prescribing doctors

Published May 26, 2015 CST

Nearly one-quarter of Medicare's top-prescribing physicians received consulting fees or other financial perks from manufacturers of the drugs they prescribed in 2013, renewing nagging questions about conflicts of interest in medical decision-making.

Lloyd's of London wary of market aggregation of cyber risk

Published May 24, 2015 CST

Lloyd's of London is taking steps to ensure it avoids a “dangerous aggregation” of insurance related to cyber risks while uncertainty remains about potential fallout should there be a catastrophic cyber attack.

London sets up catastrophe bond task force

Published May 26, 2015 CST

(Reuters) — Britain has created an expert group to put forward proposals on how the country can become a center for catastrophe bonds, used by insurers as a hedge against disasters and other costly events from hurricanes to lottery jackpots.

FMLA lawsuit against Tyson Fresh Meats reinstated

Published May 26, 2015 CST

A U.S. appeals court has reinstated Family and Medical Leave Act claims filed by a former Tyson Fresh Meats Inc. employee in a case in which the employer gave shifting reasons for terminating the worker.

Cyber coverage getting its day in court

Published May 19, 2015 CST

A court ruling in favor of an insurer in one case and coverage litigation in another — both involving cyber insurance policies — may mark the beginning of a new stage in the coverage as a growing number of firms obtain these policies.

Telemed docs no more or less likely to prescribe antibiotics

Published May 28, 2015 CST

Antibiotic prescriptions were as frequent among doctors providing care through a telemedicine appointment as physicians who saw patients face-to-face, a new study found, but the types of antibiotics prescribed via telemedicine were more expensive and could increase antimicrobial resistance.

401(k) balances hit record, but few employees manage accounts

Published May 28, 2015 CST

Employees' 401(k) plan account balances and participation rates both hit records in 2014, according to a new analysis.

Workers comp industry warned to mount defense against hackers

Published May 28, 2015 CST

Organizations in the workers' compensation industry need to redouble efforts to secure sensitive data from hackers, according to managed care services provider Genex Services L.L.C.

Moderate hurricane season predicted, but storm risks remain

Published May 24, 2015 CST

Hurricane forecasters predict a strong El Niņo weather pattern this year will likely lead to another quiet Atlantic hurricane season, but there's a caveat: Similar conditions prevailed in 1992, which was the last time a Category 5 storm struck the United States.

Insurer cites cyber policy exclusion to dispute data breach settlement

Published May 15, 2015 CST

A CNA Financial Corp. unit is seeking a judicial ruling that it is not obligated to pay a $4.1 million settlement under an exclusion in a hospital system's cyber policy.

Insurer not liable for cyber policyholder's defense

Published May 14, 2015 CST

In one of the first coverage rulings involving a cyber insurance policy, a federal court has ruled that a Travelers Cos. Inc. unit is not obligated to defend a policyholder.