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Wall Street urges U.S. regulators' joint cybersecurity approach

Published October 20, 2014 - 4:30pm CST

(Reuters) — Wall Street’s top trade group is calling for the creation of a new inter-agency working group of regulators and the White House that would be tasked with developing consistent cybersecurity rules for the financial industry.

No 2015 change in Colorado comp loss cost rates for employers

By: Stephanie Goldberg

Published October 20, 2014 - 2:39pm CST

Colorado employers will see no change to workers compensation loss cost rates for next year, the state Department of Regulatory Agencies said Thursday.

Ironshore expanding into agriculture sector

By: Judy Greenwald

Published October 20, 2014 - 2:07pm CST

Ironshore International, a unit of Hamilton, Bermuda-based Ironshore Inc., said Monday it plans to enter the agriculture sector, offering capacity limits of up to $10 million, with the appointment of a divisional director.

Campaign encourages young workers to take path to insurance industry

By: Mark A. Hofmann

Published October 20, 2014 - 1:27pm CST

The insurance industry has launched an initiative to attract millennials to the profession.

Despite rising profile, European risk managers face obstacles: Survey

By: Sarah Veysey

Published October 20, 2014 - 12:14pm CST

BRUSSELS — The profile of risk managers within their organizations in Europe is rising, but more frequent collaboration with top management is needed in some companies, according to the Federation of European Risk Management Association's risk benchmarking survey published Monday.

Hurricane Gonzalo damaged roofs, knocked out power in Bermuda

By: Matthew Lerner

Published October 20, 2014 - 12:12pm CST

Hurricane Gonzalo hit Bermuda Friday night, leaving damaged roofs and electricity outages in its wake, catastrophe modeling firm AIR Worldwide said in a statement Monday.

Late-term medical costs lower for older workers comp claimants: NCCI

By: Sheena Harrison

Published October 20, 2014 - 12:05pm CST

Workers compensation claimants younger than 60 have higher medical claim costs for medical payments made 20 and 30 years after their initial injury compared with claimants who are age 60 or older, the National Council on Compensation Insurance Inc. said Monday in a report.

FERMA, audit group release guide on E.U. company law

By: Sarah Veysey

Published October 20, 2014 - 12:00pm CST

BRUSSELS — The Federation of European Risk Management Associations and the European Confederation of Institutes of Internal Auditing on Monday launched a joint best practice guide to help companies respond to E.U. company law.

Deaths linked to GM ignition-switch defect rise to 29

Published October 20, 2014 - 11:41am CST

(Reuters) — A program to compensate victims of a faulty ignition switch in General Motors Co. vehicles has approved two new death claims, bringing the total number of deaths linked so far to the switch to 29, according to a report released on Monday by the lawyer overseeing the program.

Marsh to acquire flood insurance specialist Torrent Technologies

By: Mark A. Hofmann

Published October 20, 2014 - 11:22am CST

Marsh L.L.C has signed a definitive agreement to acquire Torrent Technologies Inc., Marsh said Monday.

Willis, Miller in talks to join forces in new Lloyd's brokerage

By: Matthew Lerner

Published October 20, 2014 - 10:16am CST

Willis Group Holdings P.L.C. and Miller Insurance Services L.L.P. are in talks to create a London wholesale specialist broking firm which would combine the companies' wholesale businesses under the Miller brand as a stand-alone entity and separate Lloyd's broker, Willis said Monday.

U.S. property/casualty insurers' reserves steady for 2014: Moody's

By: Matthew Lerner

Published October 17, 2014 - 2:14pm CST

Reserves among U.S. property/casualty insurers will remain “moderately redundant” at year end 2014, with some differentiation among companies and business lines.

Employee delivery drivers can’t be reclassified as contractors, court rules

By: Stephanie Goldberg

Published October 17, 2014 - 2:10pm CST

Delivery drivers who went from being classified as employees to independent contractors can rely on the California Industrial Welfare Commission's definition of “employee” for claims that fall within the scope of its wage orders, California's 2nd District Court of Appeal ruled.

Katie School names David M. Lockton 2014 Hall of Fame Laureate

By: Matthew Lerner

Published October 17, 2014 - 12:57pm CST

Illinois State University’s Katie School of Insurance and Financial Services named the chairman of Lockton Cos. L.L.C. its 2014 Hall of Fame Laureate.

NAS offers coverage for Ebola-related business closures

By: Stephanie Goldberg

Published October 17, 2014 - 12:46pm CST

NAS Insurance Services Inc. is offering a new insurance program for businesses facing the possibility of government-mandated closure because of the presence of Ebola.

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