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Best Off Beat stories from June

Published July 07, 2015 - 2:26pm CST

This month: filmmaker Richard Linklater gets burned in court, Magic Johnson Enterprises buys a controlling stake in a life insurance firm, Snoop Dogg's fruit liquor deal goes sour, and more.

Fitch puts Aetna on negative review over Humana news

By: Matt Dunning

Published July 07, 2015 - 1:45pm CST

Credit rating agencies continued to sour on Aetna Inc.’s plan to acquire rival health insurer Humana Inc. on Tuesday, as Fitch Ratings Inc. placed Aetna on review with negative implications based on new details of the proposed $37 billion merger.

Marsh & McLennan Agency acquires Canadian brokers

By: Donna Mahoney

Published July 07, 2015 - 1:23pm CST

Marsh & McLennan Agency L.L.C., a White Plains, New York-based subsidiary of Marsh L.L.C., on Tuesday said it acquired Vézina, a Montreal-based insurance brokerage.

Reporting tool to improve surety & fidelity transactional data management

By: Joyce Famakinwa

Published July 07, 2015 - 1:01pm CST

Verisk Analytics Inc.’s Insurance Services Office Inc. unit and The Surety & Fidelity Association of America said Tuesday that it has launched a web-based reporting tool that will help make managing transactional data easier for surety and fidelity bond carriers.

30 years later, Bermuda startups again take center stage

By: Judy Greenwald

Published July 07, 2015 - 11:18am CST

Ace Ltd., which announced its purchase of Chubb Corp. earlier this month, and XL Group P.L.C., which acquired Catlin Group Ltd. in May, emerged from the mid-1980's capacity crisis and since have risen to become industry powerhouses.

Massachusetts workers comp rates dip slightly for 2016

By: Stephanie Goldberg

Published July 07, 2015 - 11:09am CST

Private employers in Massachusetts are seeing a 0.05% workers compensation rate decrease for fiscal year 2016, the state's Workers' Compensation Rating and Inspection Bureau said.

Surveillance software maker gets taste of its own medicine

Published July 07, 2015 - 10:58am CST

(Reuters) — Italy’s Hacking Team, which makes surveillance software used by governments to tap into phones and computers, found itself the victim of hacking on a grand scale on Monday.

Longtime London insurance executive to retire

By: Sarah Veysey

Published July 07, 2015 - 9:25am CST

Adrian Colosso will retire as CEO of London-based brokerage Howden U.K. at the end of July, the company announced Tuesday.

Data analytics provider pays $910 million for health IT acquisition

By: Joseph Conn, Modern Healthcare

Published July 07, 2015 - 9:20am CST

Emdeon Inc., the Nashville, Tennessee-based revenue-cycle management, data network and analytics provider, is acquiring Altegra Health Inc., Miami Lakes, Florida.

Humana cuts outlook, raising new concerns about Aetna deal

Published July 07, 2015 - 9:15am CST

(Reuters) — Humana Inc., fresh from announcing an agreement to be purchased by larger rival Aetna Inc., prompted new investor concerns about the $33 billion deal on Monday by lowering its 2015 financial forecasts.

Commercial insurance sector poised for further consolidation

By: Mark A. Hofmann

Published July 07, 2015 - 9:02am CST

Ace Ltd.'s proposed $28.3 billion acquisition of Chubb Corp. could lead to further consolidation in the commercial insurance industry, according to observers.

U.K. watchdog to investigate conduct at insurer's Irish arm

Published July 07, 2015 - 8:27am CST

(Reuters) — Britain's accounting watchdog said it would investigate the conduct of individuals who worked for RSA Insurance Ireland in the run-up to its bailout by its British parent.

EEOC charges Wal-Mart over disability bias against worker with bone cancer

By: Judy Greenwald

Published July 06, 2015 - 3:17pm CST

The Equal Employment Opportunity Commission is charging Wal-Mart Stores Inc. with disability discrimination and harassment for allegedly refusing to set up a chair for an associate suffering from bone cancer.

Citi banker's brother-in-law loses insider trading conviction appeal

Published July 06, 2015 - 3:10pm CST

(Reuters) — A U.S. appeals court on Monday upheld the conviction of an Illinois man who prosecutors said made nearly $1.2 million trading on inside information about mergers involving clients of Citigroup Inc., where his brother-in-law worked.

California health insurers get $1.1 billion from reinsurance program

By: Jerry Geisel

Published July 06, 2015 - 2:37pm CST

Insurers writing coverage in California will receive more than $1.1 billion in federal payments under a reinsurance program created by the health care reform law, according to an analysis released Monday by Covered California, the state’s health insurance exchange.