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Subscriber only, premium content. Tuesday, March 3

Most Recent News

ISO cyber options introduced for small- to medium-size business owners

By: Judy Greenwald

Published March 03, 2015 - 3:16pm CST

Two optional cyber endorsements for small and midsized businesses become available this month, said Verisk Analytics Inc.’s Insurance Services Office, in a statement Tuesday.

Schinnerer names senior professional liability leaders

By: Shelby Livingston

Published March 03, 2015 - 3:14pm CST

Managing general underwriter Victor O. Schinnerer & Co. Inc. has named Jill Tellez and Kevin Collins to senior professional liability posts.

FAA wants to speed approval process for commercial drones

Published March 03, 2015 - 2:49pm CST

(Reuters) — The FAA is seeking ways to speed up the approval process for commercial drone operations, but its efforts have been hindered by its lack of authority to review multiple applications on a group basis.

Nursing home not liable for injured worker’s knee replacement

By: Stephanie Goldberg

Published March 03, 2015 - 2:40pm CST

An Alabama worker with preexisting arthritis is entitled to workers compensation benefits, but not knee replacement surgery, the Alabama Court of Appeals has ruled.

Liberty Mutual tops 2014 with strong fourth quarter profit

By: Sheena Harrison

Published March 03, 2015 - 1:53pm CST

A focus on “deliberate underwriting actions and solid investment results” boosted profits and premiums in 2014 for Liberty Mutual Holding Co., though the insurer’s workers compensation business declined last year.

Claims decline, billing change lead to 10.8% Ohio comp premium decrease

By: Stephanie Goldberg

Published March 03, 2015 - 11:29am CST

Private employers in Ohio will see a 10.8% workers compensation rate decrease as of July 1, the Ohio Bureau of Workers' Compensation said.

Costly shift to new credit cards won't fix security issues

Published March 03, 2015 - 11:24am CST

(Reuters) — New technology about to be deployed by credit card companies will require U.S. consumers to carry a new kind of card and retailers across the nation to upgrade payment terminals. But despite a price tag of $8.65 billion, the shift will address only a narrow range of security issues.

JLT’s 2014 revenues up on steady performance in its diverse holdings

By: Sarah Veysey

Published March 03, 2015 - 10:39am CST

Jardine Lloyd Thompson Group P.L.C. posted revenues of £1.04 billion ($1.61 billion) for 2014, up 6.2% from £979.15 million ($1.51 billion) in 2013, the London-based brokerage said Tuesday.

Piracy claims hold up bank robber film before U.S. release

Published March 03, 2015 - 10:33am CST

To the dismay of film distributor Osiris Entertainment, viewers could watch “Electric Slide” online before it hits the domestic box office next month.

AIG former CEO remembered for leading the insurer’s revival

By: Mark A. Hofmann

Published March 03, 2015 - 10:16am CST

Former American International Group Inc. President and CEO Robert H. Benmosche, who died Friday in New York after battling cancer for five years, will go down in history as the executive who led the well-documented turnaround of the insurance giant.

Obama defends lack of 'Plan B' for ACA court case

Published March 03, 2015 - 10:12am CST

(Reuters) — President Barack Obama on Monday said he thinks there is no “plausible legal basis” for the U.S. Supreme Court to strike down a key plank of the Patient Protection and Affordable Care Act, defending his administration's lack of a contingency plan.

Bank of England warns insurers of possible 'huge hit' over fossil fuels

Published March 03, 2015 - 9:55am CST

(Reuters) — Insurers may face a “huge hit” if they end up being wrongfooted by rule changes linked to climate change, the Bank of England said on Tuesday.

'Cadillac' tax could diminish union health plans

By: Bob Herman, Modern Healthcare

Published March 03, 2015 - 9:40am CST

Health plans obtained through union collective bargaining agreements often include much more generous benefits than other employer-sponsored plans. But such benefits are likely to be pared down as the Affordable Care Act's excise tax nears.

Cyber risks a top concern for majority of D&O underwriters

By: Judy Greenwald

Published March 02, 2015 - 3:31pm CST

A total of 60% of directors & officers underwriters consider a company's cyber security a major risk when it comes to underwriting a D&O policy, says a brokerage's survey.

2015 Risk Manager of the Year, Risk Management Honor Roll announced

Published March 02, 2015 - 2:42pm CST

Business Insurance announced Monday that Kathleen M. Ireland, vice president of global risk and insurance management at technology giant IBM Corp. in Armonk, New York, is the 2015 Risk Manager of the Year®.