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Aspen Insurance profit rises 31% in 2014 first quarter

By: Matthew Lerner

Published April 23, 2014 - 4:42pm CST

Aspen Insurance Holdings Ltd. on Wednesday reported net income of $120.4 million for the first quarter of 2014, an increase of 31.2% over the prior-year period.

Allied World reports first-quarter profit of $177M

By: Mark A. Hofmann

Published April 23, 2014 - 3:52pm CST

Allied World Assurance Co. Holdings A.G. on Wednesday reported profit of $177.0 million for the first quarter of 2014, an 11.3% increase compared with the same period in 2013.

Lockton launches workers comp claims analytics program

By: Sheena Harrison

Published April 23, 2014 - 3:06pm CST

Lockton Cos. L.L.C. has launched the Lockton Work Comp Claims Outcome Analytics program to help companies manage workers compensation claim costs, the insurance brokerage said Wednesday.

Retail companies report greater concern over cyber risks: Willis

By: Judy Greenwald

Published April 23, 2014 - 3:04pm CST

Companies in the retail sector report their cyber exposures at higher levels than their Fortune 1000 counterparts, according to a study of public documents published Wednesday by Willis Group Holdings P.L.C.

FBI warns health care sector vulnerable to cyber attacks

Published April 23, 2014 - 2:59pm CST

(Reuters) — The FBI has warned health care providers their cyber security systems are lax compared with other sectors, making them vulnerable to attacks by hackers searching for Americans' personal medical records and health insurance data.

IRS bumps up health savings account contribution max for 2015

By: Jerry Geisel

Published April 23, 2014 - 2:23pm CST

The maximum contributions that can be made to health savings accounts will increase $50 for individuals and $100 for families in 2015.

LifeLock hits back at fired security chief who alleged wrongdoing

By: Matt Dunning

Published April 23, 2014 - 2:17pm CST

LifeLock Inc. has formally denied allegations that it fired its chief information security officer for uncovering serious deficiencies in its data protection services, according to court documents filed this week.

New cyber protection from AIG includes physical damages

By: Bill Kenealy

Published April 23, 2014 - 1:25pm CST

American International Group Inc. on Wednesday said it is offering an enhanced cyber insurance policy that covers physical damages caused by cyber attacks.

Ohio proposes 6.3% workers comp rate reduction for private-sector employers

By: Stephanie Goldberg

Published April 23, 2014 - 11:06am CST

The Ohio Bureau of Workers’ Compensation has proposed a 6.3% reduction to base workers compensation insurance rates for private-sector employers beginning July 1.

3 Supreme Court justices show little support for Aereo TV in copyright fight

Published April 23, 2014 - 10:30am CST

(Reuters) — Supreme Court justices appeared skeptical on Tuesday about online TV service Aereo Inc.'s position in a copyright dispute with major broadcasters, but several raised concerns about how a ruling against the startup could affect cloud computing services.

Japan's Showa to plead guilty in U.S. to price fixing

Published April 23, 2014 - 10:26am CST

(Reuters) — Japan's Showa Corp. has agreed to plead guilty to fixing the prices of electric power-steering assemblies and to pay a $19.9 million fine, the U.S. Justice Department said Wednesday.

Damages phase of BP Gulf spill trial set for January

Published April 23, 2014 - 10:19am CST

(Reuters) — The high-stakes penalty phase of BP P.L.C.'s trial over its role in the 2010 U.S. Gulf of Mexico oil spill will start next January, court officials said on Tuesday, and billions of dollars could be on the line.

States that did not expand Medicaid may see higher premiums: Health experts

By: Virgil Dickson, Modern Healthcare

Published April 23, 2014 - 8:53am CST

Some industry experts are warning that states that chose not to expand Medicaid coverage under Obamacare could see higher insurance premiums next year as hospitals continue to shift the costs of uncompensated care to private insurers.

Tenn. passes bill requiring some local governments to make full pension contributions

By: Rob Kozlowski, Pensions & Investments

Published April 23, 2014 - 8:43am CST

The Tennessee Legislature has sent a bill to Gov. Bill Haslam's desk that will require some local governments in the state to increase the contributions to their pension funds.

XL opens reinsurance operation in Dubai

By: Sarah Veysey

Published April 23, 2014 - 8:35am CST

XL Group P.L.C. has set up a reinsurance operation in Dubai, United Arab Emirates, XL announced Wednesday.

OFF BEAT: In a word — or 37,931 words — it’s insurance

Published April 22, 2014 - 5:02pm CST

Et tu, exclusions?

Ford worker's disability bias, retaliation case over telecommuting reinstated

By: Judy Greenwald

Published April 22, 2014 - 4:46pm CST

An appeals court has reinstated a U.S. Equal Employment Opportunity Commission disability discrimination and retaliation lawsuit filed on behalf of a disabled Ford Motor Co. worker who was denied a telecommuting arrangement and terminated.

Shannon Groeber joins Lockton global tech and privacy practice as senior vice president

By: Kate Shepherd

Published April 22, 2014 - 4:03pm CST

Lockton Cos. L.L.C. has named Shannon Groeber as senior vice president of its global technology and privacy practice.

TTD benefits end when workers are cleared to return to work: Miss. high court

By: Sheena Harrison

Published April 22, 2014 - 3:44pm CST

The Mississippi Supreme Court has ruled that temporary total disability workers compensation benefits end for injured workers when they are cleared to return to their previous employment, even if they haven't reached maximum medical improvement.

Berkley Corp. first quarter net income up 45.5% over last year

By: Mark A. Hofmann

Published April 22, 2014 - 3:39pm CST

W.R. Berkley Corp. posted $169.8 million in net income for the first quarter of 2014, an increase of 45.5% from the first quarter of last year.

Louisiana workers comp costs higher than in most states: Study

By: Stephanie Goldberg

Published April 22, 2014 - 3:34pm CST

Medical payments for injured workers in Louisiana were higher and growing faster than in most states, with payments per claim increasing more than 7% per year from 2006 to 2011, according to a new study.

Managing general agencies remain strong source of direct premiums: Study

By: Judy Greenwald

Published April 22, 2014 - 3:13pm CST

Insurers and managing general agencies are working together to created a more stable business model and a long-term favorable outlook for growth, says a study on MGAs released Tuesday.

Quick congressional action urged on TRIA backstop renewal: Marsh

By: Mark A. Hofmann

Published April 22, 2014 - 2:21pm CST

WASHINGTON — The potential economic consequences of failure to extend the federal terrorism insurance backstop program should be “an impetus for quick congressional action,” according to report released Tuesday by Marsh L.L.C.

Many businesses hurt by Superstorm Sandy were uninsured or couldn't collect

By: Matt Dunning

Published April 22, 2014 - 2:17pm CST

Very few small and midsize businesses affected by Superstorm Sandy have been able to recover some portion of their financial losses through insurance, according to a new report by the Federal Reserve Bank of New York.

Medicare chief Jonathan Blum leaving Obama administration

By: Paul Demko, Modern Healthcare

Published April 22, 2014 - 12:35pm CST

The Obama administration's top Medicare official is stepping down from his post.