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PPACA enrollment tops 8 million, Obama says

By: Paul Demko, Modern Healthcare

Published April 17, 2014 - 4:44pm CST

Enrollment in health plans sold on Obamacare's insurance exchanges has reached 8 million, and 35% of those who signed up through are under the age of 35, President Barack Obama said Thursday.

EEOC lawsuit on behalf of diabetic Walgreen employer can proceed: Judge

By: Judy Greenwald

Published April 17, 2014 - 3:09pm CST

A disability discrimination lawsuit filed on behalf of an 18-year Walgreen Co. worker with diabetes who was terminated after she allegedly ate a bag of chips without paying for it to stave off a low-blood sugar attack, can proceed, says a federal court.

Insurance market appears to be tightening on TRIA backstop fears: Report

By: Mark A. Hofmann

Published April 17, 2014 - 2:51pm CST

Uncertainty over the future of the federal terrorism insurance backstop appears to be causing “tightening” in the terrorism insurance market, according to a report released Thursday by the President's Working Group on Financial Markets.

Judge rejects NCAA's gender argument in college athletes' likeness rights suit

By: Matt Dunning

Published April 17, 2014 - 2:27pm CST

The NCAA cannot justify its policy against paying student-athletes for the licensed use of their likenesses for broadcasts and merchandising by arguing that the policy ultimately supports women's college athletic programs, a federal judge ruled last week.

Aspen attempts to thwart Endurance takeover bid

By: Matthew Lerner

Published April 17, 2014 - 2:26pm CST

Aspen Insurance Holdings Ltd.'s board has adopted a shareholders rights plan to fend off an unsolicited offer by Endurance Specialty Holdings Ltd. to buy Aspen for $3.2 billion in cash and stock.

OFF BEAT: French tech workers refuse to surrender their free time

Published April 17, 2014 - 2:17pm CST

Are you tired of getting emails from your boss outside of working hours? Then you should consider moving to France and getting a job in the tech industry.

BP employee settles SEC insider-trading gulf oil spill case

Published April 17, 2014 - 1:55pm CST

(Reuters) — A former 20-year veteran of BP P.L.C. who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges alleging he used non-public information about the disaster to commit insider-trading, U.S. regulators said on Thursday.

Few merger and acquisition lawsuits lead to big money: Study

By: Judy Greenwald

Published April 17, 2014 - 1:34pm CST

Only 2% of lawsuits filed in response to merger and acquisition deals that settled in 2013 produced significant monetary returns for shareholders, says a new study by Cornerstone Research Inc.

Vermont captive insurer law updated to allow 'dormant' status

By: Rodd Zolkos

Published April 17, 2014 - 1:27pm CST

Vermont Gov. Peter Shumlin has signed a bill updating Vermont’s captive insurer law, including the creation of a “dormant” status for captives that have ceased operation but might be used to finance risk again in the future.

GM exploring compensation program for ignition-switch victims: Lawyer

Published April 17, 2014 - 11:55am CST

(Reuters) — A lawyer for General Motors Co. said for the first time Wednesday that the company is moving to develop a program that could compensate individuals affected by a faulty ignition switch in millions of recalled vehicles.

E.U. lawmakers smooth way for class actions against cartels

Published April 17, 2014 - 11:49am CST

(Reuters) — European lawmakers on Thursday eased the way for cartel victims to claim compensation from companies under new rules that also shield price-fixing whistleblowers from being the main target of million-dollar lawsuits.

Misdiagnosis could affect 12 million U.S. adults annually: Study

By: Sabriya Rice, Modern Healthcare

Published April 17, 2014 - 11:15am CST

An estimated 1 in 20 U.S. adults could be misdiagnosed during outpatient visits, and about half of those errors could prove to be harmful for the patient, finds a new study in the journal BMJ Quality and Safety.

$1.35B credit facility to fund Brown & Brown acquisitions, future growth

By: Mark A. Hofmann

Published April 17, 2014 - 11:07am CST

Brown & Brown Inc. has entered into a five-year $1.35 billion unsecured credit facility to fund acquisitions and future growth, the Daytona Beach, Fla.-based broker announced Thursday.

Bermuda underwriters’ net income up 23.9% in 2013

By: Mark A. Hofmann

Published April 17, 2014 - 11:03am CST

Bermuda underwriters surveyed by the Association of Bermuda Insurers and Reinsurers reported net income of $11.70 billion in 2013, an increase of 23.9% from 2012, the ABIR said Thursday.

Platinum Underwriters first-quarter net income down 26.4% from 2012

By: Mark A. Hofmann

Published April 17, 2014 - 10:41am CST

Platinum Underwriters Holdings Ltd. had first-quarter net income of $63.7 million, down 26.4% from the same period a year earlier, the Hamilton, Bermuda-based reinsurer reported.

Business Insurance IN FOCUS Video: 4 World Trade Center

Published April 17, 2014 - 9:56am CST

Business Insurance's latest video report explores Silverstein Properties' rebuild of 4 World Trade Center in New York.

U.K.'s RSA sells east European businesses to Polish insurer PZU

Published April 17, 2014 - 9:12am CST

(Reuters) — Troubled U.K. insurer RSA has sold the bulk of its eastern European operations to Poland's state-controlled group PZU for about €360 million ($497.3 million), the Polish firm's biggest ever deal and RSA's first to be done under its financial restructuring plan.

Companies can't litigate secretly to protect image: Appeals court

Published April 16, 2014 - 3:22pm CST

(Reuters) — In a victory for consumers, a federal appeals court on Wednesday directed that litigation about a product linked to the death of an infant be made public, saying the manufacturer could not keep the details secret to protect its image.

PBGC reaches settlement with Saint-Gobain to prevent pension plan takeover

By: Rob Kozlowski, Pensions & Investments

Published April 16, 2014 - 2:51pm CST

The Pension Benefit Guaranty Corp. has reached a settlement that will allow Saint-Gobain Containers Inc., Muncie, Ind., to continue as the sponsor of its pension plan following threats by the agency to take possession of the plan, PBGC spokesman Marc Hopkins said.

Canadian charged in 'Heartbleed' attack on tax agency

Published April 16, 2014 - 2:17pm CST

(Reuters) — Canadian police have arrested a 19-year-old man and charged him in connection with exploiting the "Heartbleed" bug to steal taxpayer data from a government website, the Royal Canadian Mounted Police said Wednesday.

Fired worker only needs to prove comp claim as 'contributing factor': Court

By: Sheena Harrison

Published April 16, 2014 - 2:05pm CST

A lawsuit alleging that an injured worker was fired in retaliation for his workers compensation claim only needed to prove that his claim was a “contributing factor” and not an “exclusive cause” of his discharge, a split Missouri Supreme Court ruled.

ISO online pricing tool caters to excess and surplus market

By: Bill Kenealy

Published April 16, 2014 - 1:25pm CST

Jersey City, N.J.-based Insurance Services Office Inc. on Wednesday unveiled ISO Rapid Valuator, a new pricing tool for commercial excess and surplus insurance underwriters.

Hartford signs $500M contract with IBM for cloud computing update

By: Bill Kenealy

Published April 16, 2014 - 12:42pm CST

Looking to modernize its computing infrastructure, Hartford Financial Services Group Inc. announced a six-year technology contract with Armonk, N.Y.-based IBM Corp. on Wednesday.

Starr Indemnity & Liability added to Treasury list of surety companies

By: Bill Kenealy

Published April 16, 2014 - 12:39pm CST

New York-based Starr Cos. on Wednesday said its Starr Indemnity & Liability Co. has been added to the list of approved surety companies by the U.S. Treasury Department.

GM to seek court protection against ignition lawsuits

Published April 16, 2014 - 11:58am CST

(Reuters) — Signaling a tougher stance toward legal claims stemming from its recent recall over faulty ignition switches, General Motors Co. said it will ask a U.S. court to bar lawsuits related to actions before its 2009 bankruptcy.