Business Insurance

Login  |  Register Subscribe

Most Recent News

Breach at U.S. government contractor affected at least 25,000 workers

Published August 22, 2014 - 4:27pm CST

(Reuters) — A cyber attack at a company that performs background checks for the U.S. Department of Homeland Security compromised data of at least 25,000 government workers, and that number could rise, an agency official said on Friday.

Obama administration floats new prescription contraceptive rules

By: Jerry Geisel

Published August 22, 2014 - 3:09pm CST

The Obama administration sought Friday to end a long-running controversy by proposing new ways to enable employees of nonprofit religiously affiliated organizations — such as hospitals — and private closely held corporations to obtain coverage for prescription contraceptives, even if their employers object.

Cover offered via Lloyd's syndicates for commercial marijuana industry

By: Judy Greenwald

Published August 22, 2014 - 3:03pm CST

A recently formed insurance agency is offering the commercial marijuana industry general liability and related insurance coverage on a surplus lines basis through several Lloyd's of London syndicates.

Goldman nears $1.1B payment to FHFA: Financial Times

Published August 22, 2014 - 2:42pm CST

(Reuters) — Goldman Sachs Group Inc. could pay about $1.1 billion to settle claims from the U.S. housing finance regulator that it sold bad mortgage-backed securities, the Financial Times reported.

Jardine Lloyd Thompson Canada adds 2 executives to Calgary office

By: Kate Shepherd

Published August 22, 2014 - 12:52pm CST

Jardine Lloyd Thompson Canada Inc., a unit of Jardine Lloyd Thompson Group P.L.C., is adding two new members to its senior team in Calgary, Alberta.

National Financial Partners buys mid-market specialist Benefit Resources

By: Jerry Geisel

Published August 22, 2014 - 12:46pm CST

National Financial Partners Corp. said Friday that it has acquired Cincinnati-based Benefit Resources Inc., which specializes in group benefits, human resources and benefit compliance, and employee benefits administration.

Judge strikes down Florida ban on same-sex marriage

By: Matt Dunning

Published August 22, 2014 - 12:13pm CST

A federal judge has struck down Florida's ban on same-sex marriage.

Court upholds judgment against Union Pacific in railroad worker's death

By: Sheena Harrison

Published August 22, 2014 - 12:09pm CST

The Texas Court of Appeals has affirmed a $1.2 million judgment awarded to the family of a railroad employee who died from complications after being injured on the job.

Venture capital firm Kleiner Perkins suffers security breach

Published August 22, 2014 - 10:34am CST

(Reuters) — California detectives are investigating a July computer theft at storied venture capital firm Kleiner Perkins Caufield & Byers, a spokeswoman for the Menlo Park police said Thursday.

Allied World to buy RSA insurance operations in Hong Kong and Singapore

By: Mark A. Hofmann

Published August 22, 2014 - 10:29am CST

Allied World Assurance Co. Holdings A.G.’s Allied World Assurance Co. Ltd. unit has reached definitive agreements to acquire the Hong Kong and Singapore operations of Royal & Sun Alliance Insurance P.L.C. for about $215 million in cash, Zug, Switzerland-based Allied World said.

OFF BEAT: Bieber scent stinks up cosmetic firm's fragrance sales

Published August 22, 2014 - 9:00am CST

A cosmetic company’s plans to hitch its financial wagon to pint-sized pop star Justin Bieber has come back to haunt it.

Indonesia lawmakers seek to limit foreign ownership in insurers

Published August 22, 2014 - 8:54am CST

(Reuters) — Indonesian lawmakers are looking into the possibility of reducing the stake foreign investors are allowed to hold in local insurers, the latest move toward more nationalistic policies in Southeast Asia's biggest economy.

U.S. to tighten restrictions on common opioid painkillers

Published August 22, 2014 - 8:46am CST

(Reuters) — The U.S. government is tightening restrictions on hydrocodone, an opioid painkiller contained in Vicodin and other addictive drugs.

This week's Top 10 features on

Published August 22, 2014 - 6:00am CST

Find out which of this week's features on were the most popular.

Willis partners with sleep health management specialist FusionHealth

By: Kate Shepherd

Published August 21, 2014 - 3:00pm CST

Willis North America Inc. has partnered with Atlanta-based sleep health management solutions provider FusionHealth to help firms reduce risks associated with sleep disorders.

Howden offers insurance coverage for mine collapse rescues

By: Kate Shepherd

Published August 21, 2014 - 2:57pm CST

Howden Insurance Brokers Ltd., a unit of Hyperion Insurance Group Ltd., has launched a stand-alone insurance product that mitigates the costs of rescue in a mine collapse.

Malware breach at 51 UPS stores 'fully contained': Company

By: Judy Greenwald

Published August 21, 2014 - 2:38pm CST

The UPS Store Inc. said Wednesday that customer data at 51 of its franchised stores in 24 states may have been breached, although the situation is now contained and there is no evidence to date of fraud.

Former Aeropostale exec gets 8 years in prison over kickbacks

Published August 21, 2014 - 2:10pm CST

(Reuters) — A former merchandising executive at teen apparel retailer Aeropostale Inc. was sentenced to eight years in prison on Wednesday after being convicted of defrauding the company and taking more than $25 million in kickbacks from a key vendor.

No letup seen in energy market’s soft conditions: Willis

By: Judy Greenwald

Published August 21, 2014 - 2:00pm CST

The current soft market conditions in the energy market may continue, even if the industry is seriously affected by a major hurricane in the Gulf of Mexico or another major catastrophe during the second half of this year.

OFF BEAT: Lost loot sack adds insult to troubled casino’s injury

Published August 21, 2014 - 1:13pm CST

By all accounts, times are tough in the Atlantic City casino business, but it's even tougher when a casino loses a portion of its precious take from the roof of an armored car meant to carry the cash to safety.

Allied World names John Bender CEO of global reinsurance

By: Matthew Lerner

Published August 21, 2014 - 11:52am CST

Allied World Assurance Co. Holdings A.G. has named John Bender CEO of its global reinsurance operations, the company said Thursday.

Car rental firm Hertz is latest victim of auto recalls

Published August 21, 2014 - 11:31am CST

(Reuters) — While an improving U.S. economy has helped rev up demand for car rentals, the rental companies have found themselves short of vehicles due to the slew of recalls by car manufacturers this year.

After Russia targets McDonald's, businesses wonder who's next

Published August 21, 2014 - 11:19am CST

(Reuters) — Russia said on Thursday it was investigating dozens of McDonald's restaurants, in what many businessmen said was retaliation for Western sanctions.

Bank of America settles mortgage probes for $16.65B

Published August 21, 2014 - 11:12am CST

(Reuters) — Bank of America Corp. has reached a $16.65 billion settlement with U.S. regulators to settle charges that it misled investors into buying troubled mortgage-backed securities.

Property/casualty insurer competition expected to increase: Moody's

By: Mark A. Hofmann

Published August 21, 2014 - 10:30am CST

Competition among property/casualty insurers should increase throughout the remainder of the year, according to an analysis released Thursday by Moody's Investors Service.