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CDC's recent mishandling of deadly viruses highlights need for focus on safety

Published July 20, 2014 CST

Testimony to Congress last week by the head of the CDC concerning recent mishandling of deadly viruses at his agency highlighted the problems organizations face when they don't embrace a “culture of safety.”

Allianz, Atrium lead insurance coverage on downed Malaysian Airlines plane

Published July 18, 2014 CST

(Reuters) — Insurance on the Malaysian Airlines plane brought down over Ukraine is likely to pay out quickly, but settling insurance for the loss of 298 lives and other liability could be complex and lengthy.

D.C. appeals court strikes down ACA insurance subsidies for federal exchanges

Published July 22, 2014 CST

A federal appeals court has ruled the Obama administration cannot subsidize insurance premiums for nearly 7 million Americans, dealing a serious blow to the Patient Protection and Affordable Care Act.

Travelers ordered to pay over $500M in asbestos case

Published July 22, 2014 CST

(Reuters) — A federal appeals court on Tuesday said Travelers Cos. should pay more than $500 million to satisfy asbestos-related claims stemming from its coverage of policyholder Johns-Manville Corp.

New USGS maps expand earthquake risks to 42 states

Published July 17, 2014 CST

New seismic hazard maps from the U.S. Geological Survey show 42 states facing a “reasonable” chance of experiencing damaging ground shaking from an earthquake in 50 years.

Amending Illinois Constitution a tough path for pension reform

Published July 18, 2014 CST

If Illinois' new pension law is found unconstitutional, which looks more likely in light of a recent Illinois Supreme Court decision, one obvious remedy is to amend the constitution.

Insurance industry welcomes Senate approval of seven-year TRIA extension

Published July 17, 2014 CST

Insurers and other industry groups are welcoming Thursday's 93-4 Senate vote to extend the federal terrorism insurance backstop for seven years.

Zurich white paper focuses on solar panel fire, structural risks

Published July 21, 2014 CST

Risk managers need be aware of the variety of risks and challenges presented by the installation of photovoltaic solar panel systems on commercial buildings, Zurich North America said on Monday.

Tracy Morgan crash prompts scrutiny of trucker safety rules

Published July 20, 2014 CST

A Wal-Mart tractor-trailer whose allegedly fatigued driver hit a limousine last month, seriously injuring comedian Tracy Morgan and killing his friend, has brought fresh scrutiny of trucker safety as the industry tries to alter federal rules limiting drivers' time behind the wheel without rest.

Tracy Morgan sues Wal-Mart and its trucking unit for negligence

Published July 20, 2014 CST

Comedian Tracy Morgan is accusing Wal-Mart Stores Inc. with being “careless and negligent” in a lawsuit following an accident in the early morning of June 7 on the New Jersey Turnpike in which a Wal-Mart truck driver hit his limousine, killing one passenger and seriously injuring him and other passengers.

More brokers sharing critical big data insight with mid-market clients

Published July 20, 2014 CST

After decades of gathering and warehousing data on insurance purchases, exposures and claims from their commercial clients, more insurance brokers are offering to share the power of their “big data” sets with their middle-market clients.

Allianz lead insurer for crashed Malaysia Airlines flight

Published July 18, 2014 CST

Germany's Allianz S.E. is the lead hull and liability reinsurer covering the Malaysia Airlines flight MH-17 that was brought down over Ukraine, Bloomberg reported.

Catastrophe bonds are on track for a record year

Published July 20, 2014 CST

A record $4.5 billion in catastrophe bonds issued in the second quarter of this year shows the alternative risk transfer method is maturing amid strong investor demand and limited losses.

China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan

Published July 22, 2014 CST

(Reuters) — The latest food scandal in China is spreading fast, dragging in U.S. coffee chain Starbucks, Burger King Worldwide Inc. and others, as well as McDonald's products as far away as Japan.

Firms that cut birth-control coverage must notify workers: White House

Published July 18, 2014 CST

If closely held companies want to nix their employees' insurance coverage of contraceptives, they can't do so in secret.

Captive insurers stick with E.U. domiciles despite impending Solvency II rules

Published July 20, 2014 CST

Captive insurers are making good progress in preparing for Solvency II and are defying predictions that they would leave the European Union for domiciles where the risk-based capital rules will not apply.

Liberty Mutual enters multibillion-dollar reinsurance deal with National Indemnity

Published July 17, 2014 CST

Liberty Mutual Insurance Co. has entered into a multibillion-dollar retroactive reinsurance transaction with Berkshire Hathaway Inc.'s National Indemnity Co. to cover asbestos-related and other long-term liabilities.

Payouts for crashed Malaysian flight MH-17 hinge on determining fault

Published July 18, 2014 CST

Insurers for the Malaysia Airlines flight MH-17 that crashed in Ukraine are expected to make the payments relatively fast, if the cause of the crash is determined, Reuters reported.

Both House, Senate TRIA bills, place more liability on insurers: Report

Published July 21, 2014 CST

While bills introduced in the U.S. Senate and House of Representatives to extend the federal terrorism backstop mark progress towards that goal, both would raise the insurance industry’s liability following a terrorist attack.

Supreme Court ruling will test range of health reform's contraceptive mandate

Published July 20, 2014 CST

The U.S. Supreme Court's pivotal ruling last month that the federal government cannot force family-owned, private employers to directly provide contraceptive coverage could have wider reaching implications for private companies and benefits administrators.

Hurricane Arthur insured losses to stay below $250M: RMS

Published July 18, 2014 CST

Catastrophe modeling firm Risk Management Solutions Inc. said on Friday that it estimates that insured losses from Hurricane Arthur will not exceed $250 million.

Case of Johns Hopkins gynecologist who photographed patients may settle for $190M

Published July 22, 2014 CST

The Johns Hopkins Health System Corp. has reached a preliminary $190 million settlement with about 7,000 patients who were allegedly secretly photographed and videotaped over a 25-year period by a staff gynecologist who has since committed suicide.

Google must face class action over kids' in-apps purchases

Published July 22, 2014 CST

(Reuters) — Google Inc. must face a class action lawsuit filed by a woman whose son had bought online video game items without her consent, a federal judge ruled late on Monday.

Hospital's captive must pay staffing agency nurse's settlement in suit: Court

Published July 21, 2014 CST

A Washington medical center's captive insurer is liable for defending and settling a lawsuit filed against a staffing agency nurse, under terms of the insurance policies involved, says an appeals court.

FedEx faces U.S. criminal charges over online pharmacies

Published July 18, 2014 CST

(Reuters) — FedEx Corp. was indicted Thursday for shipping packages from illegal online pharmacies despite repeated warnings from U.S. drug enforcement officials, according to a court filing.