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Business Insurance announces 2014 Best Places to Work in Insurance winners

Published August 28, 2014 CST

A record 75 insurance industry companies are being recognized in this year's Business Insurance Best Places to Work in Insurance program.

OFF BEAT: Puppet maker says CBS violated copyright on gassy stuffed hippo

Published August 27, 2014 CST

There are some phrases one simply never expects to encounter in a professional context — and until now, “the farting hippo” was certainly among them.

Credit insurer says Ukraine crisis could lift German insolvencies

Published August 28, 2014 CST

(Reuters) — The Ukraine crisis and its impact on relations between Russia and the West is crimping German growth and could lead to a rise in manufacturing sector insolvencies in the second half of this year, credit insurer Euler Hermes S.A. said Thursday.

PricewaterhouseCoopers must face $1B lawsuit over MF Global advice

Published August 27, 2014 CST

(Reuters) — A federal judge on Wednesday ordered PricewaterhouseCoopers L.L.P. to face a $1 billion lawsuit claiming that its bad accounting advice was cause of the 2011 bankruptcy of MF Global Holdings Ltd.

RBS mortgage fine deals blow to boss McEwan

Published August 27, 2014 CST

(Reuters) — Britain's financial regulator has fined Royal Bank of Scotland for selling mortgages without checking if customers could afford them, undermining Chief Executive Ross McEwan's efforts.

JPMorgan probes possible cyber attack; other banks reportedly hit

Published August 28, 2014 CST

(Reuters) — JPMorgan Chase & Co. is investigating a possible cyber attack and working with law enforcement authorities to determine the scope, a company spokeswoman said on Thursday morning.

JLT shuffles execs, merges specialty units

Published August 29, 2014 CST

Jardine Lloyd Thompson Group P.L.C. said Friday that JLT Re CEO Alastair Speare-Cole will leave the company as Mark Drummond Brady is appointed deputy group CEO.

Honda to recall 63,200 vehicles over Takata air bag defect

Published August 28, 2014 CST

(Reuters) — Honda Motor Co. is recalling about 63,200 vehicles due to a defect in driver-side air bags made by Takata Corp., the latest in a series of air bag recalls across the industry that have affected nearly 16 million vehicles to date.

Philip Morris ordered to defend fraud suit over U.S. military vendors

Published August 26, 2014 CST

(Reuters) — A U.S. appeals court on Tuesday revived a lawsuit against Philip Morris USA Inc. that claims the tobacco company defrauded the federal government by failing to sell cigarettes at the lowest price.

Aon Hewitt adding voluntary benefit options to private health exchange

Published August 28, 2014 CST

Aon Hewitt on Thursday said it is planning to add voluntary benefit plans to the menu of coverages available through its private health insurance exchange, largely due to rising employer demand for a wider variety of exchange-based benefit options.

Malaysia police arrest 42 foreigners after riot at export factory

Published August 27, 2014 CST

(Reuters) — Malaysian police have arrested 42 men after a riot by up to 1,000 mostly Nepalese workers sparked fires and destroyed parts of an electronics export factory, highlighting accusations of poor conditions.

OFF BEAT: Sports car bath lands driver in hot water

Published August 28, 2014 CST

A YouTube video has sunk a Texas man's attempt to defraud insurers out of $2.2 million for “accidental” water damage to his Bugatti sports car.

China arrests six staff members at meat supplier after food safety scare

Published August 29, 2014 CST

(Reuters) — Chinese police have formally arrested six staff menbers from a unit of U.S. meat supplier OSI Group Inc., the company said in a statement on Friday.

Cincinnati to cover employee gender reassignment surgery

Published August 28, 2014 CST

Cincinnati will offer coverage for medically necessary transgender procedures under its employee health care plans beginning in 2015, according to city officials.

U.S. inspector wanted reactor shut on quake fears: Report

Published August 26, 2014 CST

(Reuters) — A federal nuclear inspector urged U.S. regulators to shut down a California nuclear power plant until tests showed its reactors could withstand quake shocks.

Iceland lowers volcano alert, says small eruption no threat to aviation

Published August 29, 2014 CST

(Reuters) — Iceland reduced its aviation warning level to orange on Friday after concluding that a small eruption in the Bardarbunga volcano system that triggered an hours-long red alert actually posed no threat to aircraft.

Ex-Little Caesar manager sues over denial of same-sex spousal benefits

Published August 29, 2014 CST

A former Little Caesar Enterprises Inc. employee has sued the company for denying spousal health insurance to married same-sex couples in California.

Heinz recall brings food tracking issue to the fore in China

Published August 25, 2014 CST

(Reuters) — The entanglement of H.J. Heinz Co. in China's latest food scare highlights a key concern for international and local firms.

Benmosche says cancer prognosis led to earlier retirement from AIG

Published August 28, 2014 CST

As he prepares to step down as chief executive officer of American International Group Inc. on Sept. 1, Robert H. Benmosche revealed that his ongoing cancer prognosis forced him to move up his planned retirement by several months.

Vermont residents spend less on health care, but clouds are looming

Published August 27, 2014 CST

With Vermont's ambitions for universal health care by 2017, reports say privately insured patients spent less time hospitalized and used more generic drugs than the average U.S. patient, in lieu of health reform.

Senior execs increasingly more hands-on in medical stop-loss decisions: Study

Published August 29, 2014 CST

As high-cost medical claims continue to rise among employers that self-insure their group health benefits, the number of senior executives, financial officers and risk managers involving themselves in their company's decisions regarding stop-loss insurance is also increasing.

IRS issues draft copies of health care coverage reporting forms

Published August 29, 2014 CST

The Internal Revenue Service has issued draft copies of the health care coverage forms employers will have to provide to full-time employees and to the IRS starting in 2016.

Flexible spending account cap expected to rise in 2015

Published August 29, 2014 CST

The maximum contribution employees will be able to make to their flexible spending accounts is expected to rise in 2015 by $50 to $2,550, according to Buck Consultants at Xerox calculations.

U.S. loses bid to dismiss ex-AIG CEO's $25B lawsuit over bailout

Published August 26, 2014 CST

(Reuters) — A federal judge has rejected the United States' bid to dismiss a more than $25 billion lawsuit filed by Maurice R. Greenberg, the former chief executive of American International Group Inc.

Aon Benfield secures reinsurance capacity for Aegis London cyber coverage

Published August 29, 2014 CST

Reinsurance intermediary Aon Benfield Group Ltd. on Friday said it has sourced the reinsurance capacity for a recently announced cyber liability facility developed by the Lloyd’s of London syndicate of mutual energy insurer Aegis London, a unit of Aegis Insurance Services Inc.