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Ace net income down 12.5% in 2nd quarter

By: Matthew Lerner

Published July 22, 2014 - 4:29pm CST

Net income declined 12.5% to $779.0 million at Zurich-based Ace Ltd. as the company's agriculture activities weighed upon results.

Harley-Davidson, a U.S. icon, highlights offshoring's perils

Published July 22, 2014 - 3:20pm CST

(Reuters) — U.S. motorcycle maker Harley-Davidson Inc. came late to the offshoring game.

4th Circuit upholds premium subsidies for state and federal health exchanges

By: Matt Dunning

Published July 22, 2014 - 3:08pm CST

The 4th U.S. Circuit Court of Appeals on Tuesday unanimously upheld the federal government's right to issue premium subsidies for health insurance purchased in both state- and U.S.-operated public exchanges.

Florida packing plant's workers accused of workers comp fraud

By: Stephanie Goldberg

Published July 22, 2014 - 2:51pm CST

The vast majority of workers at a Naples, Florida, produce packing plant are accused in a scheme to commit workers compensation fraud, the Florida Department of Financial Services said Tuesday.

Google must face class action over kids' in-apps purchases

Published July 22, 2014 - 2:30pm CST

(Reuters) — Google Inc. must face a class action lawsuit filed by a U.S. woman whose son had bought online video game items without her consent, a federal judge ruled late on Monday as he turned down the company's request to dismiss the action.

Cooper Gay launches underwriting management agency for health care industry

By: Kate Shepherd

Published July 22, 2014 - 2:24pm CST

Cooper Gay Swett & Crawford Ltd. has launched Pro-Praxis Insurance, an underwriting management agency specializing in the health care industry.

OFF BEAT: Minutes count when renewing auto insurance

Published July 22, 2014 - 2:20pm CST

When a Pennsylvania woman phoned Safe Auto Insurance Co. to initiate an auto insurance policy in April, she claimed she hadn’t had an accident in five years — but according to the authorities who charged her last week with insurance fraud, it actually had been a mere seven minutes.

Guide covers noncompete and trade secrets laws for all 50 states

By: Judy Greenwald

Published July 22, 2014 - 2:10pm CST

Chicago-based law firm Seyfarth Shaw has released a guide to the 50 states’ noncompete and trade secrets laws.

Case of Johns Hopkins gynecologist who photographed patients may settle for $190M

By: Judy Greenwald

Published July 22, 2014 - 2:08pm CST

The Johns Hopkins Health System Corp. has reached a preliminary $190 million settlement with about 7,000 patients who were allegedly secretly photographed and videotaped over a 25-year period by a staff gynecologist who has since committed suicide.

Rules changes give Texas workers comp commissioner greater authority

By: Stephanie Goldberg

Published July 22, 2014 - 1:31pm CST

The Texas Division of Workers Compensation has adopted rules that will give its commissioner increased authority next month over cases heard by the state Office of Administrative Hearings, which handles disputes over workers comp medical care and provider reimbursement.

EPIC buys Leavitt Group's Jenkins Insurance unit

By: Kate Shepherd

Published July 22, 2014 - 12:41pm CST

Edgewood Partners Insurance Center Inc., which does business as EPIC, has purchased Concord, California-based Jenkins Insurance Services Inc., a unit of Leavitt Group Enterprises Inc.

IN FOCUS Video: Brokerage Industry Trends

Published July 22, 2014 - 12:24pm CST

In our latest video report, we speak with several insurance industry leaders to find out some of the latest trends and hot topics occurring in the commercial brokerage industry.

Beazley reports $132.9M profit in 2014 first half

By: Sarah Veysey

Published July 22, 2014 - 11:52am CST

Beazley P.L.C. reported pretax profit of $132.9 million for the first six months of 2014, up 61.5% posted for the comparable period last year, the Dublin-based insurer and reinsurer said Tuesday.

Acquisitions drive Brown & Brown’s 2nd-quarter revenue increase

By: Matthew Lerner

Published July 22, 2014 - 10:50am CST

Daytona Beach, Florida-based Brown & Brown Inc.’s second-quarter revenues rose 22.1% over those of the same period a year earlier to $397.8 million, bolstered by the closing of five acquisitions worth $157 million in revenue, Brown & Brown President and CEO J. Powell Brown said in a statement issued Monday.

U.S. intervenes in whistleblower suit against Symantec Corp.

Published July 22, 2014 - 10:39am CST

(Reuters) — The U.S. Justice Department on Tuesday said it has intervened in a whistleblower lawsuit against Symantec Corp. that alleges the company submitted false claims to a government agency it worked with under contract.

China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan

Published July 22, 2014 - 10:33am CST

(Reuters) — The latest food scandal in China is spreading fast, dragging in U.S. coffee chain Starbucks, Burger King Worldwide Inc. and others, as well as McDonald's products as far away as Japan.

Travelers ordered to pay over $500M in asbestos case

Published July 22, 2014 - 10:22am CST

(Reuters) — A federal appeals court on Tuesday said Travelers Cos. should pay more than $500 million to satisfy asbestos-related claims stemming from its coverage of policyholder Johns-Manville Corp.

D.C. appeals court strikes down ACA insurance subsidies for federal exchanges

By: Joe Carlson, Modern Healthcare

Published July 22, 2014 - 10:06am CST

A federal appeals court has ruled the Obama administration cannot subsidize insurance premiums for nearly 7 million Americans, dealing a serious blow to the Patient Protection and Affordable Care Act.

Travelers' profit misses estimates as catastrophe losses rise

Published July 22, 2014 - 9:00am CST

(Reuters) — Property/casualty insurer Travelers Cos. Inc.'s quarterly earnings fell short of analysts' estimates as hail- and windstorms in the United States increased catastrophe losses.

Alabama health system, doctors group settle whistleblower kickback case for $24.5M

By: Judy Greenwald

Published July 21, 2014 - 3:54pm CST

An Alabama health system and a physicians group have reached a $24.5 million settlement of a whistleblower lawsuit, in which they were charged with violating the False Claims Act by paying or receiving kickbacks in connection with claims to the Medicare program, the Department of Justice said Monday.

Hospital's captive must pay staffing agency nurse's settlement in suit: Court

By: Judy Greenwald

Published July 21, 2014 - 3:29pm CST

A Washington medical center's captive insurer is liable for defending and settling a lawsuit filed against a staffing agency nurse, under terms of the insurance policies involved, says an appeals court.

Both House, Senate TRIA bills, place more liability on insurers: Report

By: Rodd Zolkos

Published July 21, 2014 - 3:13pm CST

While bills introduced in the U.S. Senate and House of Representatives to extend the federal terrorism backstop mark progress towards that goal, both would raise the insurance industry’s liability following a terrorist attack.

OSHA cites Omaha feed company for fatal plant collapse

By: Matt Dunning

Published July 21, 2014 - 3:10pm CST

OSHA has cited an Omaha, Nebraska-based livestock feed manufacturer for multiple federal safety and health violations following a deadly partial collapse at its processing plant in January.

Zurich white paper focuses on solar panel fire, structural risks

By: Bill Kenealy

Published July 21, 2014 - 2:58pm CST

Risk managers need be aware of the variety of risks and challenges presented by the installation of photovoltaic solar panel systems on commercial buildings, Zurich North America said on Monday.

Obama signs order barring federal discrimination against gays

Published July 21, 2014 - 2:30pm CST

(Reuters) — President Barack Obama signed an executive order on Monday barring federal contractors from discriminating on the basis of sexual orientation or gender identity.