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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.

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.

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.

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.

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.

Aspen attempts to thwart Endurance takeover bid

Published April 17, 2014 CST

Aspen Insurance Holdings Ltd.'s board has adopted a shareholders rights plan to fend off an unsolicited offer by Endurance Specialty Holdings Ltd. to buy Aspen for $3.2 billion in cash and stock.

EEOC lawsuit on behalf of diabetic Walgreen employer can proceed: Judge

Published April 17, 2014 CST

A disability discrimination lawsuit filed on behalf of an 18-year Walgreen Co. worker with diabetes who was terminated after she allegedly ate a bag of chips without paying for it to stave off a low-blood sugar attack, can proceed.

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.

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.

OFF BEAT: French tech workers refuse to surrender their free time

Published April 17, 2014 CST

Are you tired of getting emails from your boss outside of working hours? Then you should consider moving to France and getting a job in the tech industry.

Insurance market appears to be tightening on TRIA backstop fears: Report

Published April 17, 2014 CST

Uncertainty over the future of the federal terrorism insurance backstop appears to be causing “tightening” in the terrorism insurance market, according to a report released Thursday by the President's Working Group on Financial Markets.

GM exploring compensation program for ignition-switch victims: Lawyer

Published April 17, 2014 CST

(Reuters) — A lawyer for General Motors Co. said for the first time Wednesday that the company is moving to develop a program that could compensate individuals affected by a faulty ignition switch in millions of recalled vehicles.

Employee shot for reporting robbery wins comp for mental, physical injuries

Published April 14, 2014 CST

The Nebraska Supreme Court has ruled that a store manager who was shot in retaliation for reporting a robbery should receive workers compensation benefits for psychological and physical injuries he suffered.

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.

PPACA enrollment tops 8 million, Obama says

Published April 17, 2014 CST

Enrollment in health plans sold on Obamacare's insurance exchanges has reached 8 million, and 35% of those who signed up through HealthCare.gov are under the age of 35, President Barack Obama said Thursday.

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.

Few merger and acquisition lawsuits lead to big money: Study

Published April 17, 2014 CST

Only 2% of lawsuits filed in response to merger and acquisition deals that settled in 2013 produced significant monetary returns for shareholders, says a new study by Cornerstone Research Inc.

Vermont captive insurer law updated to allow 'dormant' status

Published April 17, 2014 CST

Vermont Gov. Peter Shumlin has signed a bill updating Vermont’s captive insurer law, including the creation of a “dormant” status for captives that have ceased operation but might be used to finance risk again in the future.

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.

BP employee settles SEC insider-trading gulf oil spill case

Published April 17, 2014 CST

(Reuters) — A former 20-year veteran of BP P.L.C. who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges alleging he used non-public information about the disaster to commit insider-trading, U.S. regulators said on Thursday.

Zurich enterprise risk management tool aids financial institutions

Published April 15, 2014 CST

Zurich North America, a unit of Zurich Insurance Group Ltd., has launched a new enterprise risk management assessment tool for financial institutions.

Judge rejects NCAA's gender argument in college athletes' likeness rights suit

Published April 17, 2014 CST

The NCAA cannot justify its policy against paying student-athletes for the licensed use of their likenesses for broadcasts and merchandising by arguing that the policy ultimately supports women's college athletic programs.

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.

Property/casualty insurance industry welcomes TRIA report

Published April 18, 2014 CST

Property/casualty insurance groups are welcoming a new government report they say demonstrates the need for an extension of the federal government's terrorism insurance backstop program.

Lloyd's lays out strategic plan for next three years

Published April 16, 2014 CST

Lloyd's of London set out its strategy for 2014 to 2016 on Wednesday and has updated its plans to meet its 2025 goals.