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Brokers launch business interruption cover for Ebola, other pandemics

Published October 15, 2014 CST

Miller Insurance Services L.L.P. and William Gallagher Associates Insurance Brokers Inc. on Wednesday launched a pandemic disease business interruption insurance coverage product.

Travelers sues P.F. Chang's to avoid paying breach costs

Published October 13, 2014 CST

A Travelers Cos. unit has filed suit against P.F. Chang's China Bistro Inc. seeking a judicial declaration that it is not obligated to provide indemnity coverage or defense costs in connection with a data breach announced earlier this year.

Employers taking action to avoid ACA excise tax

Published October 16, 2014 CST

Forty percent of employers say they expect at least one of their health care plans to be affected by a health care reform law-authorized excise tax — unless they act — with many already taking steps to reduce the likelihood that they will be hit by the tax.

JLT hires Aon exec Sarah Stephens to head cyber business

Published October 14, 2014 CST

Jardine Lloyd Thompson Group P.L.C. has appointed Sarah Stephens as head of cyber, technology and media errors and omissions in its speciality financial lines group.

About 250 firms plan to offer health benefits next year via Mercer's health exchange

Published October 13, 2014 CST

Nearly 250 employers will offer health care benefits to current and retired employees through Mercer L.L.C.'s “Marketplace” private health insurance exchange in 2015.

Brokers, insurers need to offer relevant insurance to prosper: Panel

Published October 13, 2014 CST

COLORADO SPRINGS, Colorado – Insurers and brokers need to offer relevant products to add value for insurance buyers if they are to prosper in an environment where nontraditional capital continues to enter the market.

Kmart removes malware called undetectable by anti-virus systems

Published October 14, 2014 CST

Kmart's payment data systems have been infected with a form of malware that is undetectable by current anti-virus systems, says its parent company, Sears Holdings Corp.

U.S. property/casualty insurers' reserves steady for 2014: Moody's

Published October 17, 2014 CST

Reserves among U.S. property/casualty insurers will remain “moderately redundant” at year end 2014, with some differentiation among companies and business lines.

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.

Medical evacuation services draw line at flying out Ebola patients

Published October 10, 2014 CST

(Reuters) — Leading companies offering medical evacuation services are drawing a line at flying Ebola patients out of West Africa for treatment abroad as the cost and the complexities of the deadly epidemic grow.

Katie School names David M. Lockton 2014 Hall of Fame Laureate

Published October 17, 2014 CST

Illinois State University’s Katie School of Insurance and Financial Services named the chairman of Lockton Cos. L.L.C. its 2014 Hall of Fame Laureate.

New Marsh CFO to take position March 1, 2015

Published October 16, 2014 CST

Courtney Leimkuhler will become chief financial officer of Marsh L.L.C. on March 1, 2015, the Marsh & McLennan Cos. Inc. unit announced Thursday.

OSHA fines Dollar Tree $262,500 for safety violations at Texas store

Published October 16, 2014 CST

Chesapeake, Virginia-based Dollar Tree Inc. is facing $262,500 in fines from the U.S. Occupational Health and Safety Administration because of alleged safety violations at a Texas Dollar Tree store.

EEOC suits contend wellness programs violate disability law

Published October 12, 2014 CST

The EEOC recently filed lawsuits against two Wisconsin companies that underscore the need for more clarity on rules that govern employers' use of financial incentives to motivate employee participation in workplace wellness programs.

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.

Adding urine testing reduces opioid use and costs for comp patients

Published October 14, 2014 CST

In coordination with clinical monitoring and oversight, urine drug testing reduces the use of and amount paid for high-risk medications, including opioids, among injured workers, according to new studies by Helios.

Colorado's September hailstorm insured damage estimated at $213.3M

Published October 13, 2014 CST

A Sept. 29 hailstorm that pounded parts of Colorado's Front Range has been ranked as the state's 8th most expensive hailstorm on record, racking up an estimated $213.3 million in insured losses.

Bermuda: Hurricane Gonzalo forecast to be worst storm since 2003

Published October 17, 2014 CST

Bermuda is likely to be affected severely by Hurricane Gonzalo, which is approaching the island with strong winds, Bloomberg reported.

Hartford offers commercial auto discounts to encourage driver safety

Published October 15, 2014 CST

Hartford Financial Services Group Inc. has added premium discounts and other rewards to its commercial auto policy to encourage driver safety among small and midsize businesses.

RIMS report highlights benefits of effective claims reporting, management

Published October 14, 2014 CST

RIMS has issued a new executive report entitled “Claims Reporting and Management Practices” that shows how effective claims reporting and management can contribute to an organization in both financial and nonfinancial ways

Workers' compensation rates drop again in Michigan

Published October 15, 2014 CST

Businesses in Michigan are continuing to see savings in their workers compensation rates and have saved more than $277 million since 2011, a fact the state now touts to companies interested in coming to Michigan.

Insurance-linked securities could break annual record despite weak 3rd quarter

Published October 16, 2014 CST

Despite a slow third quarter for insurance-linked securities, 2014 will still likely surpass 2007’s record year for these non-life securities, according to a report issued by Willis Group Holdings P.L.C.’s Willis Capital Markets & Advisory.

Toyota recalls 1.67 million Toyota, Lexus cars for 3 separate defects

Published October 15, 2014 CST

(Reuters) — Toyota Motor Corp. said on Wednesday it would recall a total 1.67 million vehicles globally in a voluntary move to address three separate defects including a faulty brake master cylinder.

Third traffic death in U.S. linked to Takata air bags

Published October 17, 2014 CST

(Reuters) — A fatal accident near Los Angeles last year of a 2002 Acura sedan involved a Takata Corp. air bag, the third death in the United States linked to a defective safety component made by the Japanese supplier, according to local officials and the automaker.

NAS offers coverage for Ebola-related business closures

Published October 17, 2014 CST

NAS Insurance Services Inc. is offering a new insurance program for businesses facing the possibility of government-mandated closure because of the presence of Ebola.