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Appeals court rules Virginia same-sex marriage ban invalid

By: Matt Dunning

Published July 28, 2014 - 4:49pm CST

A federal appeals court in Richmond, Virginia handed a significant legal victory to gay and lesbian couples seeking equal marriage rights and benefits on Monday by declaring that state's laws banning same-sex marriage invalid.

Berkley reports 55.1% profit surge in second quarter

By: Mark A. Hofmann

Published July 28, 2014 - 3:57pm CST

W.R. Berkley Corp.’s net income for the second quarter of 2014 surged 55.1% over that of the same period in 2013 to $180.0 million, owing in part to price increases, the sale of some real estate and a successful investment strategy, the insurer reported Monday.

Total cost of risk for companies rises in 2013: RIMS survey

By: Bill Kenealy

Published July 28, 2014 - 2:43pm CST

The average total cost of risk for companies rose for third straight year in 2013, analysis released Monday by the Risk & Insurance Management Society Inc. and Advisen Ltd. finds.

Smith & Wesson settles charges of bribing foreign officials for $2M

By: Judy Greenwald

Published July 28, 2014 - 2:39pm CST

Gunmaker Smith & Wesson Holding Corp. has agreed to pay $2 million to settle U.S. Securities and Exchange Commission charges that it violated the Foreign Corrupt Practices Act by bribing foreign officials in several countries, the agency said Monday.

RPM reaches $797.5M deal to resolve Bondex asbestos claims

Published July 28, 2014 - 2:37pm CST

(Reuters) — RPM International Inc. announced a $797.5 million deal to resolve asbestos claims against its Bondex International Inc. unit, which filed for protection from creditors in 2010 after mounting personal injury lawsuits.

Microsoft targeted in apparent Chinese antitrust probe

Published July 28, 2014 - 2:17pm CST

(Reuters) — Microsoft Corp. appears to be the latest U.S. company targeted by China for antitrust investigation as government officials paid sudden visits to the software firm's Chinese offices on Monday.

EEOC sues employer for demanding health care details for worker absences

By: Judy Greenwald

Published July 28, 2014 - 2:03pm CST

The U.S. Equal Employment Opportunity Commission has filed suit against a Pennsylvania construction equipment supplier, charging that it violated the Americans with Disabilities Act by improperly demanding disability-related information from its workers and subjecting them to progressive disciplinary measures if they refused to comply.

West Virginia workers comp rates to decrease 9.1% on Nov. 1

By: Sheena Harrison

Published July 28, 2014 - 11:31am CST

West Virginia workers compensation rates are set to decrease 9.1% this fall, which the state says will result in $32 million in premium savings for employers.

U.S. group overhauls China business in meat safety scandal

Published July 28, 2014 - 10:53am CST

(Reuters) — A leading U.S. meat supplier said on Monday that a Chinese unit at the center of a food safety scandal had issues that were “absolutely inconsistent” with the group's high standards.

Lloyds Bank fined $370M for rigging Libor interest rates

Published July 28, 2014 - 10:51am CST

(Reuters) — Britain's Lloyds Banking Group P.L.C. has agreed to pay fines totaling $370 million to U.S. and British authorities investigating its part in a global interest rate rigging scandal and manipulating fees for a U.K. government lending plan.

Aspen shareholders vote to reject meetings proposed by Endurance

By: Matthew Lerner

Published July 28, 2014 - 10:35am CST

Shareholders of Aspen Insurance Holdings Ltd. have voted to reject two meeting proposals from Endurance Insurance Holdings Ltd. in the latest round of the battle waged over Endurance's $3.2 billion hostile takeover offer.

OFF BEAT: Dog slips disc in tall grass, owner wants vet bill reimbursed

Published July 28, 2014 - 10:25am CST

The legal arena can be a dog-eat-dog world, but one pet owner from England is taking on her local council to seek compensation for injuries her dog sustained while undertaking that most clichéd of dog activities: chasing a cat.

Evidence of racial discrimination in Cablevision case overlooked: Appeals court

By: Judy Greenwald

Published July 25, 2014 - 2:29pm CST

A federal court overlooked evidence when it dismissed the racial discrimination and retaliation claims of a fired African-American area operations manager at Cablevision Systems Corp., a U.S. appeals court ruled Friday in reinstating the charges.

Seattle man gets 1½ years for Microsoft insider trades

Published July 25, 2014 - 2:22pm CST

(Reuters) — An online stock trader who profited from inside information passed to him by a former Microsoft Corp. finance employee was sentenced to 1½ years in prison in Seattle on Friday.

OFF BEAT: Apparel maker has ‘Duck Dynasty’ camo in its sights

Published July 25, 2014 - 1:46pm CST

A Florida apparel manufacturer is taking aim at a line of camouflaged T-shirts from the once-popular reality TV series “Duck Dynasty.”

Ex-BizJet CEO pleads guilty in Latin American bribe scandal

By: Judy Greenwald

Published July 25, 2014 - 1:24pm CST

The former president and CEO of Oklahoma City-based BizJet International Sales & Support Inc. has pleaded guilty for his participation in a scheme to pay bribes to Mexican and Panamanian government officials.

IRS releases draft of employer reporting form for health reform law compliance

By: Matt Dunning

Published July 25, 2014 - 12:02pm CST

The Internal Revenue Service has issued draft versions of the reporting forms most employers will begin using next year to show that their group health insurance plans comply with the health care reform law.

Insurance specialist law firm Kaufman Dolowich & Voluck adds partners

By: Kate Shepherd

Published July 25, 2014 - 11:18am CST

Insurance specialist law firm Kaufman Dolowich & Voluck L.L.P., based in Woodbury, New York, on Thursday said it has added two partners to its staff.

Citigroup unit pays record penalty to settle SEC charges

Published July 25, 2014 - 10:57am CST

(Reuters) — A business unit of Citigroup will pay $5 million to settle civil charges that one of its private trading venues violated federal law by failing to protect its clients' confidential trading data, U.S. regulators said Friday.

Colorado insurance exchange CEO jumps to Cigna

By: Bob Herman, Modern Healthcare

Published July 25, 2014 - 9:04am CST

Patty Fontneau, CEO of Connect for Health Colorado, will leave her position at the state's health insurance exchange in mid-August to become president of Cigna Corp.'s private exchange business.

Aon second-quarter revenue flat at $2.92 billion

By: Mark A. Hofmann

Published July 25, 2014 - 9:00am CST

Aon P.L.C. on Friday reported revenue of $2.92 billion for the second quarter of 2014, an increase of less than 1% over the same period a year earlier.

House plan to sue Obama over employer-mandate delay moves forward

By: Paul Demko, Modern Healthcare

Published July 25, 2014 - 8:56am CST

A resolution authorizing the House of Representatives to sue President Barack Obama for exceeding his constitutional authority by delaying the employer mandate in the federal health care law cleared the House Rules Committee.

This week's Top 10 features on BusinessInsurance.com

Published July 25, 2014 - 6:00am CST

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

Validus net income soars on strong underwriting, low combined ratio

By: Matthew Lerner

Published July 24, 2014 - 5:10pm CST

Pembroke, Bermuda-based Validus Holdings Ltd. reported second quarter net income of $153.4 million, up five-fold from net income of $30.7 million in the same period last year as the company benefitted from increased underwriting income and a lower combined ratio.

Chubb net income falls to $499M in second quarter

By: Mark A. Hofmann

Published July 24, 2014 - 3:55pm CST

Chubb Corp.’s net income for the 2014 second quarter decreased to $499 million, a 13.8% decrease from the same period last year, the insurer announced Thursday.

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