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Chubb sees profit of $594M in third quarter

By: Mark A. Hofmann

Published October 23, 2014 - 3:45pm CST

Chubb Corp. reported 2014 third-quarter net income of $594 million, a 9.8% increase from the same period last year, the insurer said Thursday.

Everest Re profit up 17.1% in third quarter

By: Matthew Lerner

Published October 23, 2014 - 3:17pm CST

Everest Re Group Ltd. reported third-quarter net income of $274.9 million, an increase of 17.1% over the same period last year, as net written premiums grew and the company’s combined ratio improved.

International group introduces capital standard formula for insurers

By: Mark A. Hofmann

Published October 23, 2014 - 1:56pm CST

The International Association of Insurance Supervisors on Thursday said it has developed the first global insurance capital standard.

Senators want rules on corporate pension de-risking

By: Jerry Geisel

Published October 23, 2014 - 1:36pm CST

The chairmen of two Senate committees are asking the heads of several federal agencies to develop guidance on one of the hottest defined benefit pension plan trends: employer moves to “de-risk” the plans.

Financial institutions identify cyber risk as major concern: Survey

By: Judy Greenwald

Published October 23, 2014 - 1:15pm CST

A total of 84% of global financial institutions identified cyber risk as one of their top five concerns in a third-quarter survey by Depository Trust & Clearing Corp.

Dialysis firm to pay $350M to settle physician kickback charges

By: Judy Greenwald

Published October 23, 2014 - 12:43pm CST

A national dialysis services provider has agreed to pay $350 million to settle a whistleblower lawsuit involving charges that it violated the False Claims Act by paying kickbacks to induce physicians to refer patients to its clinics.

OFF BEAT: ‘Simpsons’ lawsuit claims cartoon imitates ‘Goodfellas’ character

Published October 23, 2014 - 12:13pm CST

If gangster “Louie” on “The Simpsons” cartoon reminds you of someone, you’re not alone.

California workers comp reform moderates office visit costs despite rising fees

By: Sheena Harrison

Published October 23, 2014 - 11:58am CST

California medical office visit fees have increased significantly after the state passed a workers comp reform bill in 2012, but changes in how medical providers are reimbursed for some billings may help moderate increases in total payments, according to the Workers Compensation Research Institute.

Allied World profit drops; business segments to be reorganized

By: Mark A. Hofmann

Published October 23, 2014 - 11:49am CST

Third-quarter net income at Allied World Assurance Co. Holdings A.G. fell 74.8% from the prior-year period to $30.9 million as the Zug, Switzerland-based underwriter contended with increased catastrophe losses, and the company announced a realignment of its business segments effective Dec 31.

Japan prosecutors set to rule on possible Fukushima indictments

Published October 23, 2014 - 11:03am CST

(Reuters) — Japanese prosecutors must decide this month whether to charge Tokyo Electric Power Co. former executives for their handling of the 2011 Fukushima disaster, in a process that could drag the wrecked nuclear plant's operator into criminal court.

IRS announces maximum 401(k) plan contribution limits for 2015

By: Jerry Geisel

Published October 23, 2014 - 9:55am CST

The maximum contribution that can be made to 401(k) plans in 2015 will rise to $18,000, up from the current $17,500 limit, the Internal Revenue Service announced Thursday.

Ryder latest firm to offer lump-sum cash conversion from annuity

By: Jerry Geisel

Published October 23, 2014 - 9:50am CST

Ryder System Inc. is offering to about 11,000 former employees the opportunity to convert their monthly annuity benefit to a cash lump-sum benefit.

U.S. Court hears arguments on sex discrimination at Goldman Sachs

Published October 23, 2014 - 7:50am CST

(Reuters) — The Goldman Sachs Group Inc. on Wednesday attacked expert evidence offered by attorneys for former female employees in a U.S. federal sex discrimination lawsuit, arguing there was no pattern of gender-based pay and promotion disparities at the bank.

Insured damages in Bermuda from Gonzalo estimated at $200M-$400M: AIR

By: Mark A. Hofmann

Published October 22, 2014 - 2:47pm CST

Last week's Hurricane Gonzalo caused estimated insured damages of between $200 million and $400 million in Bermuda, catastrophe modeler AIR Worldwide said Wednesday.

Humana looks to sell urgent care subsidiary Concentra: Sources

Published October 22, 2014 - 1:56pm CST

(Reuters) — Health insurer Humana Inc. is exploring a sale of its urgent care subsidiary Concentra in a deal that could value it at around $1 billion, according to three people familiar with the matter.

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