SEC charges 2 with operating medical insurance Ponzi scheme

By: Judy Greenwald

Published June 18, 2013 - 3:33pm CST

The U.S. Securities and Exchange Commission has charged two founders of a medical insurer with operating a Ponzi scheme.

Employers need to offer health cover to keep best employees: Aflac exec

By: Sheena Harrison

Published June 18, 2013 - 3:20pm CST

CHICAGO — Employers need to educate their employees about health care plan changes required under the Patient Protection and Affordable Care Act, said Paul S. Amos II, president of Aflac Inc.

Group health plan costs seen rising 5.4% this year: Analysis

By: Jerry Geisel

Published June 18, 2013 - 3:11pm CST

Group health care plan costs are expected to increase an average of 5.4% in 2013 and 4.5% in 2014, a slight moderation from prior years as employer actions and health care market developments help hold down those increases.

Canada to make offshore oil producers pay more for spills

Published June 18, 2013 - 2:30pm CST

(Reuters) — The Canadian government said on Tuesday it will raise the liability for oil spill cleanups off the country's east and Arctic coasts to 1 billion Canadian dollars ($981.7 million), a more than 25-fold increase from its prior limit.

More employers offer contraceptive, same-sex benefits: SHRM study

By: Matt Dunning

Published June 18, 2013 - 2:43pm CST

The percentage of employers that cover contraceptives in their group health benefit plans has risen more than 16 percentage points in the past five years, according to a report by the Society for Human Resource Management.

Chrysler relents, will recall 2.7M Jeeps on fuel tank issue

Published June 18, 2013 - 2:30pm CST

(Reuters) — Chrysler Group L.L.C. gave in to government pressure and said it would recall 2.7 million older Jeep models, after initially fighting a recall request from U.S. regulators.

PPACA may cause some midsize, large firms to reduce part-timers' hours

By: Matt Dunning

Published June 18, 2013 - 2:19pm CST

Nearly one in five midsize and large U.S. employers plans to reduce their part-time staffers' hours in order to minimize exposure to coverage mandates under the health care reform law, according to new research.

Groups urge more workplace protections for pregnant women

By: Judy Greenwald

Published June 18, 2013 - 1:50pm CST

Women continue to experience significant workplace pregnancy discrimination, concludes a report by two women’s groups that calls for more legislation in this area.

Social Security disability applications fall, but payments rise: Survey

By: Mike Tsikoudakis

Published June 18, 2013 - 1:36pm CST

While the number of long-term disability claimants fell slightly in 2012, total claim payments among member disability insurers grew for a fifth straight year to $9.4 billion, the Council for Disability Awareness said Tuesday.

OFF BEAT: Things heat up for Chef Ramsay in wage-and-hour suit

Published June 18, 2013 - 1:01pm CST

They say if it’s too hot, get out of the kitchen.

EEOC sues food distributor for failing to hire, promote women

By: Judy Greenwald

Published June 18, 2013 - 12:18pm CST

A national food marketer and distributor is accused of failing to hire female applicants at its distribution centers nationwide.

American Benefits Council lobbyist Paul Dennett to retire

By: Jerry Geisel

Published June 18, 2013 - 11:48am CST

Paul Dennett, the longtime health care benefits lobbyist at the American Benefits Council in Washington, will retire from the organization at the end of next month.

Denis Brady named president of Burns & Wilcox Brokerage

By: Kate Shepherd

Published June 18, 2013 - 11:28am CST

H.W. Kaufman Financial Group Inc. has hired Denis Brady to serve as president of wholesale brokerage Burns & Wilcox Brokerage.

Cooper Gay hires former KBW exec as global head of M&A

By: Kate Shepherd

Published June 18, 2013 - 11:16am CST

London-based brokerage Cooper Gay Swett & Crawford Ltd. has hired Oliver Home as global head of mergers and acquisitions.

U.K. charges ex-UBS trader Hayes in Libor investigation

Published June 18, 2013 - 10:30am CST

(Reuters) — Britain's fraud prosecutor on Tuesday charged former UBS and Citigroup Inc. trader Tom Hayes with eight counts of conspiracy to defraud as it laid the groundwork for what could be the first Libor trial.

Prettejohn to leave nonexecutive chairman role at Brit Insurance

By: Sarah Veysey

Published June 18, 2013 - 10:14am CST

Nick Prettejohn will step down from his role as nonexecutive chairman of Brit Insurance Holdings B.V. at the end of June, the insurer said Tuesday.

Ways to attract the next generation of industry talent: IIS panel

By: Gavin Souter

Published June 18, 2013 - 10:04am CST

SEOUL, South Korea — Demographic shifts are causing a talent shortage in the insurance industry, and companies must rethink their recruitment and retention strategies to reflect those changes, several experts say.

Insurers must embrace change to succeed: IIS panel

By: Gavin Souter

Published June 18, 2013 - 10:01am CST

SEOUL, South Korea — As the business environment changes, insurers need to make significant adjustments to their strategies in order to succeed, said David Law, global insurance leader at PricewaterhouseCoopers L.L.P. in London.

Benefit broker Corporate Synergies launches private health exchange

By: Jerry Geisel

Published June 18, 2013 - 9:47am CST

Benefit broker and consultant Corporate Synergies Group L.L.C. has launched a private health insurance exchange that will enable employers with 100 or more employees to offer workers a wide array of plans.

Incentives, education essential to build retirement savings: IIS panel

By: Gavin Souter

Published June 18, 2013 - 9:41am CST

SEOUL, South Korea — Governments and insurers should collaborate to address the huge effect that massive demographic and social changes will have on global retirement savings systems, a panel of experts said Tuesday.

Business Insurance IN FOCUS Video: Insurers and regulators

Published June 18, 2013 - 6:00am CST

In our latest weekly video, Business Insurance explores the future of AIG and other insurers' concerns with the Federal Reserve Board.

Monitor, control specialty medications: SHRM panelists

By: Sheena Harrison

Published June 17, 2013 - 3:23pm CST

CHICAGO — Specialty drug costs are expected to account for 67% of prescription benefit spending by 2015, and employers should monitor how such drugs are being prescribed to their employees, panelists said Monday during a session at the Society for Human Resource Management conference in Chicago.

European cloud computing firms see silver lining in PRISM scandal

Published June 17, 2013 - 2:00pm CST

(Reuters) — France has its "Sovereign Cloud" project while across the Rhine data firms have created the label "Cloud Services: Made in Germany", all trying to reassure big companies that their information is stored away from the prying eyes of U.S. spies.

Dismissal upheld in legal malpractice claim by AIG unit, policyholder

By: Judy Greenwald

Published June 17, 2013 - 2:07pm CST

An appeals court has upheld dismissal of a legal malpractice claim filed by a trucking company and an American International Group Inc. unit against an attorney who missed the deadline for filing an appeal of a $6 million jury verdict, concluding his clients would not have been successful in their appeal anyway.