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IRS relaxes health reform law $2,500 limit for noncalendar-year FSAs

Published May 30, 2012 CST

WASHINGTON—The Internal Revenue Service on Wednesday provided regulatory relief for health care flexible spending account participants and also said it is reconsidering its longtime use-it-or-lose-it rule for FSAs.

Small companies may face greater scrutiny when buying D&O coverage under JOBS Act: Report

Published May 29, 2012 CST

Small companies utilizing provisions of the recently passed JOBS Act may face greater scrutiny when purchasing directors and officers liability insurance, according to a new report from Marsh Inc., an unit of New York-based Marsh & McLennan Cos.

South Shore Hospital to pay $750,000 in data breach settlement

Published May 29, 2012 CST

WEYMOUTH, Mass.—A June 2010 data breach will cost Weymouth, Mass.-based South Shore Hospital $750,000 in fines and remediation costs, according to a civil settlement with the state Attorney General's Office announced last week.

Employee's coffee-break injury not compensable: Court

Published May 31, 2012 CST

JEFFERSON CITY, Mo.—The Missouri Supreme Court ruled Tuesday that workers compensation benefits should be denied for a Missouri woman who twisted her ankle while making a pot of coffee for herself and her coworkers.

Defense of Marriage Act struck down by U.S. appeals court

Published May 31, 2012 CST

BOSTON—The controversial federal law that effectively denies married same-sex couples the same federal benefits afforded to heterosexual couples violates constitutional guarantee of equal protection, a federal appeals court ruled Thursday.

Calif. workers comp claims show sharp increase in medical costs: Study

Published May 25, 2012 CST

CAMBRIDGE, Mass.—California has seen a “steep” increase in medical costs for workers compensation claims despite reforms to the system in the last several years that initially reduced costs, according to the Workers Compensation Research Institute.

Top insurer pulls cover for exports to Greece

Published May 30, 2012 CST

FRANKFURT/LONDON (Reuters)—The world's biggest trade credit insurer, Euler Hermes, has stopped covering exporters shipping to Greece because of the mounting risk of them not getting paid in the event the debt-laden nation is forced out of the euro.

Willis’ 2012 D&O Dictionary

Published May 29, 2012 CST

The latest edition of Willis North America’s D&O Dictionary, containing more than 100 terms and phrases commonly used to describe Directors and Officers exposures and insurance coverage, is available now.

CSU increases Atlantic hurricane prediction for 2012

Published June 01, 2012 CST

FORT COLLINS, Colo.—The hurricane forecasting team at Colorado State University has increased the number of hurricanes it expects to form in the Atlantic basin this hurricane season to five from the four predicted in April.

Opioid painkillers should be monitored electronically: N.Y. grand jury

Published May 25, 2012 CST

NEW YORK—A New York grand jury investigating an epidemic of controlled substance abuse has called on pharmaceutical manufacturers to help fund electronic monitoring of opioid pain medication prescribing.

Average PPO cost per family hits all-time high: Milliman

Published May 15, 2012 CST

While cost increases for families enrolled in employer-sponsored preferred provider organizations have slowed since 2010, average total costs per family still hit an all-time high, according to a report released Tuesday by Seattle-based Milliman Inc.

After workplace violence, mental health resources a must

Published May 27, 2012 CST

Physical attacks on employees are rare but when they happen, employers should be ready to provide psychiatric resources for victims as they work to cope with trauma.

Abacus Federal Savings Bank indicted for mortgage fraud

Published May 31, 2012 CST

NEW YORK (Reuters)—Abacus Federal Savings Bank, which caters to Chinese immigrants in New York and other communities, has been charged with selling hundreds of millions of dollars worth of fraudulent mortgages to Fannie Mae.

Workplace violence rare but can be costly for businesses

Published May 27, 2012 CST

Workplace violence is a rare event, but it can have costly impacts on organizations, according to a study released in January by NCCI Holdings Inc., a Boca Raton, Fla.-based workers compensation ratings and research agency.

Developers not obligated to tell home buyers about nearby WWII bombing range: Court

Published May 25, 2012 CST

ATLANTA—Four developers of an Orlando, Fla., housing subdivision were not obligated to inform buyers that their homes were built near the site of a World War II-era bombing range, a federal appeals court has ruled.

NLRB reports on overbroad, unlawful social media policies

Published June 01, 2012 CST

The National Labor Relations Board has issued another report on social media policies in which it cites six cases where it contends employers' policies and rules were overbroad and unlawful.

New York City Transit Authority settles religious headwear dispute with DOJ

Published May 31, 2012 CST

NEW YORK—The U.S. Department of Justice has reached a $184,500 settlement with the New York City Transit Authority over charges it engaged in religious discrimination with respect to workers' headwear.

2012 Atlantic hurricane season near normal, NOAA predicts

Published May 24, 2012 CST

WASHINGTON—The Atlantic Basin should experience near-normal hurricane activity during the hurricane season that begins June 1, the National Oceanic and Atmospheric Administration said in a prediction released Thursday.

New York workers compensation board seeks 11.5% rate increase

Published May 18, 2012 CST

NEW YORK—The New York Compensation Insurance Rating Board is seeking an 11.5% workers compensation rate increase, citing increased claims frequency among other cost drivers.

GALLERY: Preparing for hurricane season

Published May 30, 2012 CST

The Atlantic hurricane season begins June 1, and businesses and employees can prepare for storms by making their property safe and more resistant to hurricane hazards. In our latest gallery, you'll find tips for companies to better prepare for a hurricane.

Increased drug testing for painkillers increases Calif. workers comp costs: Study

Published May 23, 2012 CST

OAKLAND, Calif.—The widespread use of narcotic painkillers to treat injured workers has fueled exponential growth in drug testing, which added $100 million in costs to California's workers compensation system in 2011, according to a study released Tuesday.

Treasury to re-examine health care coverage affordability penalty

Published May 21, 2012 CST

The Treasury Department says it will take another look at whether to revamp rules published last year that now apply a stiff “affordability” penalty on employers based on what percent of the premium employees pay for single coverage.

Connecticut governor signs new medical marijuana bill into law

Published June 01, 2012 CST

HARTFORD, Conn.—Connecticut Gov. Dannel P. Malloy signed new medical marijuana legislation into law Friday that expands its previously permitted use.

Early tropical storms form simultaneously in Atlantic, Pacific

Published May 23, 2012 CST

OAKLAND, Calif.—Tropical storms in the north Atlantic and eastern Pacific basins are marking the earliest simultaneous start of a hurricane season on record, according to catastrophe risk modeling firm EQECAT Inc.

Buyers struggling with coverage gaps, service shortfalls: Risk manager panel

Published May 03, 2012 CST

NEW YORK—Though conditions in the commercial casualty insurance market remain generally favorable, buyers still struggle with significant coverage gaps and service shortfalls in addressing their companies' exposures, a panel of risk managers said Tuesday at Advisen Ltd.'s Casualty Insights Conference in New York.