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Towers Watson names Eric Speer global head of risk consulting, software

By: Kate Shepherd

Published August 19, 2014 - 4:54pm CST

Towers Watson & Co. has named Eric Speer as global head of risk consulting and software.

IN FOCUS Video: Hot Weather Worker Safety

Published August 19, 2014 - 4:45pm CST

In our latest video report, we explore heat-related worker safety issues and find out what precautions companies can take to reduce the risk of illnesses and fatalities that can occur as a result of working outside during hot summer months.

Alliant releases annual report on political risks in oil and gas frontier markets

By: Kate Shepherd

Published August 19, 2014 - 4:07pm CST

Alliant Emerging Markets, a unit of Alliant Insurance Services Inc., has released its ranking of political risks in important oil and gas frontier markets, the Frontier Energy Risk Index.

West Palm Beach, Fla., contractors must offer domestic partner benefits

By: Matt Dunning

Published August 19, 2014 - 3:02pm CST

City commissioners in West Palm Beach, Florida, on Monday unanimously approved an ordinance requiring private companies that contract with the city to provide equal benefits for domestic partners.

OSHA orders Mich. asphalt firm to pay nearly $1M, rehire 3 fired workers

By: Judy Greenwald

Published August 19, 2014 - 2:27pm CST

A Michigan asphalt company has been ordered by OSHA to pay almost $1 million in compensation and reinstate three employees who were terminated for raising safety concerns.

Oil spill from power plant closes 15-mile stretch of Ohio River

Published August 19, 2014 - 2:25pm CST

(Reuters) — The U.S. Coast Guard closed a 15-mile stretch of the Ohio River on Tuesday after at least five thousand gallons of fuel oil spilled from a 60-year-old power plant owned by Duke Energy 20 miles east of Cincinnati.

Firm that only let woman truck drivers train with other women biased: Judge

By: Judy Greenwald

Published August 19, 2014 - 1:54pm CST

A federal judge has ruled that a trucking company violated federal law by discriminating against female truck driver applicants when it required they be trained only by other women, said the EEOC.

Pressures push reinsurance outlook to 'negative': A.M. Best

By: Matthew Lerner

Published August 19, 2014 - 1:52pm CST

A.M. Best Co. Inc. has revised its outlook for the reinsurance sector to “negative” from “stable,” citing strains on profitability which could result in ratings pressure for reinsurers.

Pension law, regulation pioneer Robert Nagle dead at 84

By: Jerry Geisel

Published August 19, 2014 - 1:25pm CST

Robert Nagle, a long-time pension policymaker and regulator, died Saturday at his home in McLean, Virginia. Mr. Nagle, 84, had been battling cancer.

Fired cop's award overturned because ADHD not severe, says court

By: Judy Greenwald

Published August 19, 2014 - 12:33pm CST

A terminated police officer who was diagnosed with attention deficit hyperactivity disorder was not sufficiently impaired to be protected by the Americans with Disabilities Act, said an appeals court.

Heinz to tighten supplier controls in China after infant food scare

Published August 19, 2014 - 12:25pm CST

(Reuters) — U.S. foodmaker H.J. Heinz Co. said on Tuesday it will tighten controls over ingredients suppliers in China after it was forced to recall some infant food products from Chinese store shelves due to excess levels of lead.

GM expands website for owners of recalled vehicles

Published August 19, 2014 - 11:34am CST

(Reuters) — General Motors Co.’s website for owners of its vehicles recalled for faulty ignition switches has been expanded to include all 20 models involved, the automaker said.

Climate change to cut South Asia's growth 9% by 2100: ADB

Published August 19, 2014 - 11:22am CST

(Reuters) — Climate change will cut South Asia’s growth almost 9% by the end of the century unless world governments try harder to counter global warming, the Asian Development Bank said on Tuesday.

Rail firm poorly audited before Canada disaster: Report

Published August 19, 2014 - 10:47am CST

(Reuters) — The Canadian government did not adequately audit the rail company at the center of last year’s Lac-Megantic oil-by-rail disaster in which 47 people died, the Transportation Safety Board of Canada said on Tuesday.

QBE to raise $1.5B after U.S. storms lash profit

Published August 19, 2014 - 9:10am CST

(Reuters) — Australia's biggest insurer QBE Insurance Group on Tuesday announced measures to raise up to $1.5 billion after first-half profit dropped 18% due to higher payouts to U.S. clients, while rival IAG posted strong earnings growth.

Nine of 10 New York building plans fail basic energy code test

By: Joe Anuta, Crain's New York Business

Published August 18, 2014 - 3:58pm CST

Earlier this year, the New York City's Department of Buildings began auditing thousands of architectural plans for new and renovated office and residential buildings. The results have been staggering: nine of every 10 have failed to meet the energy code, a set of standards that have been on the books for more than 30 years but are only now being enforced in earnest.

DEA reclassifies painkiller tramadol as a controlled substance

By: Stephanie Goldberg

Published August 18, 2014 - 3:49pm CST

The U.S. Drug Enforcement Administration began labeling tramadol, an opioid pain medication, as a Schedule IV controlled substance on Monday, according to a final rule published in the Federal Register.

Brand name drugmakers liable for generics: Alabama high court rules again

By: Judy Greenwald

Published August 18, 2014 - 3:15pm CST

The Alabama Supreme Court has reaffirmed its controversial ruling that brand-name drugmakers can be held liable for injuries caused by drugs produced by generic manufacturers.

PwC settles with New York regulator over work with Bank of Tokyo-Mitsubishi

Published August 18, 2014 - 2:47pm CST

(Reuters) — PricewaterhouseCoopers L.L.P. has agreed to pay $25 million, and its regulatory advisory unit will be suspended from certain consulting work for New York-regulated banks for two years after being accused of improperly altering a report to regulators on sanctions compliance at Bank of Tokyo-Mitsubishi UFJ Ltd.

Final vote phases out Massachusetts' state health insurance mandate

By: Jerry Geisel

Published August 18, 2014 - 2:34pm CST

A Massachusetts health reform law board unanimously voted to repeal for a final time rules relating to a landmark state statute that required employers to either offer health care coverage to their employees or pay a fine.

USI acquiring seven retail brokerages from Willis

By: Matthew Lerner

Published August 18, 2014 - 2:15pm CST

USI Insurance Services L.L.C. will acquire seven retail brokerage offices from certain subsidiaries of Willis North America Inc., part of Willis Group Holdings P.L.C., Valhalla, New York-based USI announced Monday.

SuperValu grocery chain reports June/July payment card data breach

By: Judy Greenwald

Published August 18, 2014 - 1:09pm CST

Supermarket wholesaler and retailer SuperValu Inc. has reported that credit card data may have been stolen from 180 of its stores over a more than three-week period beginning in June.

Iceland raises alert level for volcano eruption to second-highest

Published August 18, 2014 - 11:11am CST

(Reuters) — Iceland's Met Office on Monday raised its risk level to the aviation industry for an eruption at its Bardarbunga volcano to orange, which is the fourth level on a five-grade scale.

Community Health Systems says personal data stolen in cyber attack

Published August 18, 2014 - 11:00am CST

(Reuters) — U.S. hospital operator Community Health Systems Inc. said personal data, including patient names and addresses, of about 4.5 million people were stolen by hackers from its computer network.

China-based Fosun buying 20% stake in Ironshore

By: Matthew Lerner

Published August 18, 2014 - 10:17am CST

Shanghai-based investment group Fosun International Ltd. is buying a 20% stake in Ironshore Inc. and will become the Hamilton, Bermuda-based insurer's largest shareholder, Ironshore said in a statement Monday.