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Most Read Specialty Risks News

Failed bridge demolition not due insurance coverage: Appeals court

Published May 20, 2013 CST

A W.R. Berkley Corp. unit is not obligated to provide insurance coverage for a bungled bridge demolition under exclusions in its policy, an appeals court ruled Monday.

Zurich has no duty to defend in lawsuit it did not know was filed

Published May 21, 2013 CST

Zurich American Insurance Co. has no obligation to provide defense costs for a lawsuit it only learned about more than a year after it was filed, under the clear language of its policy, says an appellate court, in affirming a lower court ruling.

Morgan Stanley sued in 'pay-to-play' retirement plan case

Published May 20, 2013 CST

(Reuters) — Morgan Stanley has been sued by an Alabama medical laboratory that claims it steered retirement plan business to ING U.S. Inc. and others in exchange for extra fees in an illegal "pay-to-play" scheme.

Marsh offers D&O coverage for international organizations

Published May 20, 2013 CST

Marsh Inc. has launched a directors and officers liability insurance program for international organizations.

Business Insurance IN FOCUS Video: Bangladesh Factory Collapse

Published May 21, 2013 CST

In our latest weekly video, Business Insurance highlights how the collapse of a Bangladesh clothing factory complex could affect offshore safety standards and supply chain risk management.

Business Insurance IN FOCUS Video: Challenges of an improving economy

Published May 14, 2013 CST

In our latest weekly video, Business Insurance highlights the issues risk managers face with a recovering economy.

Gene Eisenmann, founder of Colemont, dies

Published May 21, 2013 CST

Colemont Insurance Brokers founder Gene Eisenmann has died after a lengthy illness, said Keating Group Inc., where he served most recently as consultant and vice chairman.

OFF BEAT: Another Kardashian gears up for another trademark fight

Published May 21, 2013 CST

The Kardashians — the family that's famous for being famous — is once again in the news, this time in a dispute over a $35 T-shirt.

IT firm iGate sacks CEO over undisclosed relationship

Published May 21, 2013 CST

(Reuters) — IT outsourcing company iGate Corp said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the industry's best-known executives for sexual harassment.

FINRA fines LPL Financial $9 million for email violations

Published May 21, 2013 CST

(Reuters) — LPL Financial L.L.C. must pay a total of $9 million for significant email system failures and making misstatements to the Financial Industry Regulatory Authority, Wall Street's watchdog.

OFF BEAT: Coffee company casts shadow on hard cider maker’s logo

Published May 20, 2013 CST

There's only room for one Woodchuck in Vermont, according to a lawsuit filed this month by the makers of Woodchuck Hard Cider.

All employees, suppliers responsible for managing cyber threats: Panel

Published May 22, 2013 CST

BRIGHTON, England — Everyone in a company and people throughout the supply chain are responsible for managing cyber threats, panelists said Wednesday at a Marsh Inc. conference.

Court reinstates discrimination, retaliation suit against LSU

Published May 22, 2013 CST

An appeals court cited what is known as the cat's paw theory of liability in reinstating a gender discrimination and retaliation lawsuit by a Louisiana State University police officer.

OFF BEAT: Agency takes the rap for using Eminem song in Facebook ad

Published May 22, 2013 CST

An attempt to curry favor with Facebook founder Mark Zuckerberg has led an advertising agency to run afoul of Eminem, The Detroit Free Press reports.

Legislation would extend terrorism backstop through 2024

Published May 23, 2013 CST

A third bill to extend the federal terrorism insurance backstop has been introduced in Congress, the latest by Reps. Michael Capuano, D-Mass., and Peter King R-N.Y. that would extend the program for 10 years.

U.S. academics back BP in oil spill payouts battle

Published May 23, 2013 CST

(Reuters) — A group of U.S. accountancy professors is backing BP's fight to rein in compensation it has to pay for the 2010 Gulf of Mexico oil spill, which is threatening to add billions of dollars to its growing bill for the disaster.

Pearson agrees $75 million settlement in U.S. e-books case

Published May 22, 2013 CST

(Reuters) — British publisher Pearson's Penguin unit said on Wednesday it would pay $75 million in damages plus costs to U.S. states and consumers as part of an agreement over alleged price-fixing in the e-book market.

Egg supplier settles EEOC sexual harassment suit

Published May 17, 2013 CST

An egg supplier has reached a $650,000 settlement in a case in which a supervisor allegedly demanded sexual favors over a seven year-period from a female laborer in return for keeping her job.

U.S. electric grid vulnerable to cyber attacks: Analysis

Published May 23, 2013 CST

The U.S. electric grid is the target of numerous, daily cyber attacks, but most utilities comply only with mandatory cyber security standards and have failed to implement proposed voluntary measures, says a congressional report.

U.S. Supreme Court agrees to hear Fidelity whistle-blower case

Published May 20, 2013 CST

(Reuters) — In a case involving whistle-blowers at Fidelity Investments, the U.S. Supreme Court on Monday agreed to consider whether mutual fund employees are subject to the same whistle-blower protections as workers at publicly traded companies.

Insurance covers invalidation of Calif. carbon offset credits

Published May 22, 2013 CST

Parhelion Underwriting Ltd. has partnered with the Climate Action Reserve, which is the Los Angeles-based carbon offset registry for North America, to offer insurance products for California’s Cap-and-Trade program for greenhouse gas emissions.

Court revives lawsuit vs. Electronic Arts over video game image

Published May 22, 2013 CST

(Reuters) — A divided federal appeals court has revived a lawsuit against Electronic Arts Inc. by a former Rutgers University star football quarterback, who accused it of using his image in a video game without permission.

U.S. judge blocks $13 million arbitration against SunTrust

Published May 17, 2013 CST

(Reuters) — SunTrust Banks Inc. won a court order on Friday preventing a Connecticut-based hedge fund from moving forward with a $13 million arbitration over mortgage-backed securities.

EEOC accuses rehab center of genetic information discrimination

Published May 17, 2013 CST

The U.S. Equal Employment Opportunity Commission has filed a genetic information discrimination lawsuit against a New York nursing and rehabilitation center, alleging that it violated federal law by asking for genetic information during its hiring process.

Episcopal church settles sexual harassment, retaliation case

Published May 23, 2013 CST

Grace Episcopal Church of Whitestone Inc. and the West Babylon, N.Y.-based Episcopal Diocese of Long Island will pay $192,500 to settle a sex harassment and retaliation suit accusing an interim rector of sexual harassment and retaliation against two female employees.