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Zurich North America names Terry McCafferty head of group captive insurance

By: Shelby Livingston

Published December 19, 2014 - 2:52pm CST

Zurich North America on Friday said it has named Terry McCafferty as head of group captives in the company’s programs and direct markets division, effective Feb. 1, 2015.

China sets up trust insurance fund to cap industry risk

Published December 19, 2014 - 2:51pm CST

(Reuters) — China on Friday set up its first insurance fund for its $2.1 trillion trust industry in a move to reduce financial risk in shadow banking, the country’s banking regulator said.

Obama vows U.S. response to North Korea over Sony cyber attack

Published December 19, 2014 - 2:36pm CST

(Reuters) — President Barack Obama vowed that the United States will respond to the devastating cyber attack on Sony Pictures Entertainment Inc. blamed on the North Korean government.

Aspen renews special purpose insurer Silverton Re for 2015

By: Mark A. Hofmann

Published December 19, 2014 - 2:19pm CST

Aspen Insurance Holdings Ltd.’s Aspen Reinsurance operation’s Aspen Capital Markets division has renewed Silverton Re for 2015, Hamilton, Bermuda-based Aspen announced Friday.

Attorney General Holder moves to protect transgendered under Civil Rights Act

By: Judy Greenwald

Published December 19, 2014 - 2:16pm CST

In a reversal of an earlier position that will affect public employers, U.S. Attorney General Eric Holder has announced that the Department of Justice will now take the position in litigation that Title VII of the Civil Rights Act of 1964 extends to protecting transgendered individuals.

OFF BEAT: Birthdays carry greater risks than having too much fun

Published December 19, 2014 - 12:44pm CST

Despite the potential for presents and cake, birthdays aren’t always happy occasions, according to a new study.

SIIA petitions Supreme Court to review Michigan health claims tax

By: Jerry Geisel

Published December 19, 2014 - 11:37am CST

The Self-Insurance Institute of America Inc. has formally petitioned the U.S. Supreme Court to review and overturn an appeals court decision upholding a Michigan law that imposes a 1% tax on paid health care claims.

California health exchange logs 144,178 new enrollees in first month

By: Jerry Geisel

Published December 19, 2014 - 11:32am CST

California, which has the biggest public health insurance exchange, says enrollment for 2015 is far ahead of the enrollment rate during a similar period last year.

XL offers insurance for risks from chemical, nuclear and other weapons

By: Shelby Livingston

Published December 19, 2014 - 11:03am CST

XL Group P.L.C. has launched a liability insurance product covering chemical, biological, radiological and nuclear weapons events.

Rating agencies take calm approach to TRIA expiration

By: Mark A. Hofmann

Published December 19, 2014 - 11:01am CST

The lapse of the federal governments' terrorism insurance backstop program is unlikely to have any short-term impact on the ratings of insurance companies, according to rating agencies.

MetLife says U.S. regulators declared it 'systemically' important

Published December 19, 2014 - 8:57am CST

(Reuters) — U.S. regulators have declared insurer MetLife Inc. so big that its failure could destabilize financial markets, a designation that brings extra regulation.

India looks to sway Americans with nuclear power insurance plan

Published December 19, 2014 - 8:45am CST

(Reuters) — India is offering to set up an insurance pool to indemnify global nuclear suppliers against liability in case of a nuclear accident in a bid to unblock billions of dollars in trade held up by concerns over exposure to risk.

Ransomware hacks an emerging risk for companies

By: Judy Greenwald

Published December 19, 2014 - 8:09am CST

SINGAPORE — “Ransomware,” a type of hack whereby a company's employees innocently click on a malware link that apparently originates from inside the company and a message appears saying all of a company's data will be encrypted and inaccessible unless a ransom is paid, has so far been confined to a large extent to Australia, a Microsoft Corp. security executive said.

This week's Top 10 features on BusinessInsurance.com

Published December 19, 2014 - 6:00am CST

Find out which of this week's features on BusinessInsurance.com were the most popular.

ISO policy contract language for terrorism cover triggered

By: Matthew Lerner

Published December 18, 2014 - 3:22pm CST

The sunset of the federal government's terrorism insurance backstop will trigger the activation of Insurance Services Office Inc.'s conditional commercial policy contract language for terrorism cover, ISO said Thursday.

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