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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.

Insurers not liable in loss of IBM employee data

Published May 18, 2015 CST

The Connecticut Supreme Court on Monday unanimously affirmed a lower court ruling that a Chubb Corp. unit and Scottsdale Insurance Co. were not obligated to defend or indemnify under their general and umbrella liability policies the loss of cyber data on tapes that fell from a truck.

Highest paid insurer executives

Published May 19, 2015 CST

Who were the highest paid executives at the largest publicly traded insurers in 2014? Find out in our latest gallery.

(subscription required)Social media offers employers new routes for benefits communication

Published May 10, 2015 CST

When Pacific Sunwear of California Inc. launched its wellness campaign last September, the clothing retailer found the biggest obstacle was reaching employees in its more than 600 stores nationwide.

Anthem CFO says insurer could make 'meaningful' acquisition

Published May 19, 2015 CST

(Reuters) — The financial chief of Anthem Inc., the second-largest U.S. health insurer, said on Tuesday that low interest rates and other conditions make it a good time for an acquisition, adding to speculation about merger activity in the sector.

Deglobalization, 'Internet of things' hold unknown risks for insurers

Published May 20, 2015 CST

Deglobalization and “challenges of the Internet of things” were two risks ranked to have a potential “high” impact over time for insurers and reinsurers in a new report by Swiss Re Ltd., the company said Wednesday in a statement.

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.

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.

First responders, employee definition top workers comp legislation

Published May 15, 2015 CST

ORLANDO, Fla. — A large number of workers compensation bills proposed during the first quarter of 2015 involve first responders and the definition of an employee, speakers said at the National Council on Compensation Insurance Inc.'s 2015 Issues Symposium in Orlando, Florida.

Benefit consultant urges Cadillac tax delay

Published May 18, 2015 CST

The effective date of a health care reform law provision that will impose, starting in 2018, a 40% excise tax on group health care premiums that exceed $10,200 for single coverage and $27,500 for family coverage should be delayed, a benefit consultant is recommending.

South Carolina considers workers comp opt-out system

Published May 20, 2015 CST

South Carolina legislators have introduced a bill that would allow employers to create alternative benefit plans for injured workers rather than providing traditional workers compensation insurance coverage for employees.

Employer, benefits groups lobby IRS for changes to Cadillac tax

Published May 20, 2015 CST

Employer advocates and benefits consultants this week asked the Internal Revenue Service to delay implementation of the federal health care reform law's so-called “Cadillac tax” on high cost health care plans, due to take effect in 2018.

Employers find savings, service in telemedicine

Published May 19, 2015 CST

MINNEAPOLIS — Though still a relatively new technology, telemedicine is becoming a more viable option for companies looking to temper health care spending, speakers said Tuesday at World At Work’s Total Rewards 2015 Conference and Exhibition in Minneapolis.

Employer advocacy group calls for Cadillac tax leniency

Published May 18, 2015 CST

The ERISA Industry Committee has asked federal regulators to take into consideration the “unfortunate” and “unnecessary” frustrations it says employers will face as a result of the 40% excise tax on high-value group health care plans, due to take effect in 2018 under the health care reform law.

PartnerRe to discuss possible merger with Italy's Exor

Published May 20, 2015 CST

PartnerRe Ltd. on Wednesday said it will enter discussions with the board of Exor S.p.A. to see if the firms can agree to terms for acquisition by Exor.

Cyberattack on Penn State college said to have come from China

Published May 15, 2015 CST

(Reuters) — Pennsylvania State University said on Friday that two cyber attacks at its College of Engineering, including one in 2012 that originated in China, compromised servers containing information on about 18,000 people.

CEO's doughnut decision leads to wellness engagement

Published May 20, 2015 CST

MINNEAPOLIS — The success of corporate wellness programs depends on a combination of executive leadership and simplicity, speakers said Wednesday at World At Work’s Total Rewards 2015 Conference and Exhibition in Minneapolis.

Prescription drug costs drive increase in health care expense

Published May 19, 2015 CST

A sharp surge in prescription drug costs helped push health care costs for families covered under an average employer's health insurance plan up an estimated 6.3% in 2015, according to a new report by Milliman Inc.

Pharmacy benefit manager acquires Medicare compliance unit

Published May 18, 2015 CST

Helios, a Memphis, Tennessee-based pharmacy benefit management and settlement services firm, has acquired Ringler Medicare Solutions Inc., a Medicare Secondary Payer compliance unit, the companies announced in a statement.

Senator introduces bill to raise Amtrak liability cap

Published May 19, 2015 CST

Amtrak's cap on liability would increase to $500 million from the current $200 million if a bill introduced in the Senate becomes law.

CareFirst says cyber attack stole data of 1.1 million users

Published May 21, 2015 CST

(Reuters) — CareFirst BlueCross BlueShield, which sells health insurance in Maryland, Virginia and the District of Columbia, said on Wednesday that a cyber attack compromised the data of 1.1 million current and former members.

Earlier cash settlement doesn't reduce workers comp benefits

Published May 19, 2015 CST

An employer can’t receive credit for the full amount of a lump-sum workers compensation settlement to lower the amount of benefits due to a former employee whose case was reopened, the Kentucky Supreme Court has ruled.

Air bag maker to declare 33.8 million vehicles defective

Published May 19, 2015 CST

(Reuters) — Japanese air bag manufacturer Takata Corp. is expected to declare about 33.8 million vehicles defective on Tuesday, a move that is expected to lead to the largest auto recall in U.S. history, the Detroit News reported.

Variability of specialty drug prices requires improved oversight

Published May 18, 2015 CST

MINNEAPOLIS — With specialty drugs accounting for an ever-rising percentage of overall U.S. prescription drug spending, employers need to improve measurement and oversight of the medications provided to workers, speakers said Monday at World At Work's Total Rewards 2015 Conference and Exhibition in Minneapolis.

High court hands win to employees in Edison International 401(k) dispute

Published May 18, 2015 CST

(Reuters) — The U.S. Supreme Court on Monday revived claims made by Edison International employees who accused the utility of favoring higher-cost mutual funds over lower-cost ones in its retirement plan.