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Big tech companies offer millions after Heartbleed crisis

Published April 24, 2014 - 2:28pm CST

(Reuters) — The world's biggest technology companies are donating millions of dollars to fund improvements in open-source programs like OpenSSL, the software whose "Heartbleed" bug has sent the computer industry into turmoil.

Bed, Bath & Beyond settles N.Y. criminal history discrimination charges

By: Judy Greenwald

Published April 24, 2014 - 2:03pm CST

Retailer Bed Bath & Beyond Inc. has agreed to pay $125,000 to settle charges that it allegedly automatically disqualified job applicants with criminal convictions, according to New York Attorney General Eric Schneiderman.

Company that fired Marine with PTSD hit with disability lawsuit

By: Judy Greenwald

Published April 24, 2014 - 1:00pm CST

The U.S. Equal Employment Opportunity Commission has filed a disability discrimination lawsuit against a pipe fittings manufacturer that allegedly refused to give unpaid leave to a veteran with post-traumatic stress disorder, then fired him as a result of his disability, the agency said Wednesday.

Aetna quarterly profit beats forecasts as new members surge

Published April 24, 2014 - 11:03am CST

(Reuters) — Aetna Inc. on Thursday reported a better-than-expected first quarter, helped by a surge in profits from its commercial business and by adding new customers.

Global shipping fleet hacking threat may be "uninsured time bomb": Willis

Published April 24, 2014 - 10:54am CST

(Reuters) — The next hacker playground: the open seas — and the oil tankers and container vessels that ship 90% of the goods moved around the planet.

Adidas shifts orders from striking China plant

Published April 24, 2014 - 10:25am CST

(Reuters) — Sportswear firm Adidas AG is shifting some orders from a factory in south China that has been at the center of one of the country's biggest labor strikes, underlining a rising challenge for firms doing business in China where an increasingly savvy workforce is pushing harder for its rights.

Finnish firm Sampo puts price tag for insurance arm at €12B to €14B: Report

Published April 24, 2014 - 9:55am CST

(Reuters) — Finnish investment and insurance company Sampo could sell its property and casualty insurance arm If for about €12billion to €14 billion ($16.6-19.3 billion), Sampo chief executive was quoted as saying on Thursday.

Defined contribution plan contributions, withdrawals in line with 2012: Survey

By: Rob Kozlowski | Pensions & Investments

Published April 24, 2014 - 9:38am CST

Defined contribution plan participants are continuing to contribute to their plans, while plan withdrawals remained low, according to a survey from the Investment Company Institute.

Segal Group starts new DC plan consulting leadership team

By: Rob Kozlowski | Pensions & Investments

Published April 24, 2014 - 9:25am CST

The Segal Group is creating a new leadership team of defined contribution plan consultants led by Robert A. Liberto, senior vice president, at subsidiary Segal Rogerscasey, said spokeswoman Mary Feldman.

Aspen Insurance profit rises 31% in 2014 first quarter

By: Matthew Lerner

Published April 23, 2014 - 4:42pm CST

Aspen Insurance Holdings Ltd. on Wednesday reported net income of $120.4 million for the first quarter of 2014, an increase of 31.2% over the prior-year period.

Allied World reports first-quarter profit of $177M

By: Mark A. Hofmann

Published April 23, 2014 - 3:52pm CST

Allied World Assurance Co. Holdings A.G. on Wednesday reported profit of $177.0 million for the first quarter of 2014, an 11.3% increase compared with the same period in 2013.

Lockton launches workers comp claims analytics program

By: Sheena Harrison

Published April 23, 2014 - 3:06pm CST

Lockton Cos. L.L.C. has launched the Lockton Work Comp Claims Outcome Analytics program to help companies manage workers compensation claim costs, the insurance brokerage said Wednesday.

Retail companies report greater concern over cyber risks: Willis

By: Judy Greenwald

Published April 23, 2014 - 3:04pm CST

Companies in the retail sector report their cyber exposures at higher levels than their Fortune 1000 counterparts, according to a study of public documents published Wednesday by Willis Group Holdings P.L.C.

FBI warns health care sector vulnerable to cyber attacks

Published April 23, 2014 - 2:59pm CST

(Reuters) — The FBI has warned health care providers their cyber security systems are lax compared with other sectors, making them vulnerable to attacks by hackers searching for Americans' personal medical records and health insurance data.

IRS bumps up health savings account contribution max for 2015

By: Jerry Geisel

Published April 23, 2014 - 2:23pm CST

The maximum contributions that can be made to health savings accounts will increase $50 for individuals and $100 for families in 2015.

LifeLock hits back at fired security chief who alleged wrongdoing

By: Matt Dunning

Published April 23, 2014 - 2:17pm CST

LifeLock Inc. has formally denied allegations that it fired its chief information security officer for uncovering serious deficiencies in its data protection services, according to court documents filed this week.

New cyber protection from AIG includes physical damages

By: Bill Kenealy

Published April 23, 2014 - 1:25pm CST

American International Group Inc. on Wednesday said it is offering an enhanced cyber insurance policy that covers physical damages caused by cyber attacks.

Ohio proposes 6.3% workers comp rate reduction for private-sector employers

By: Stephanie Goldberg

Published April 23, 2014 - 11:06am CST

The Ohio Bureau of Workers' Compensation has proposed a 6.3% reduction to base workers compensation insurance rates for private-sector employers beginning July 1.

3 Supreme Court justices show little support for Aereo TV in copyright fight

Published April 23, 2014 - 10:30am CST

(Reuters) — Supreme Court justices appeared skeptical about Aereo Inc.'s position in a copyright dispute with major broadcasters, but several raised concerns about how a ruling against the startup could affect cloud computing services.

Japan's Showa to plead guilty in U.S. to price fixing

Published April 23, 2014 - 10:26am CST

(Reuters) — Japan's Showa Corp. has agreed to plead guilty to fixing the prices of electric power-steering assemblies and to pay a $19.9 million fine, the U.S. Justice Department said Wednesday.

Damages phase of BP Gulf spill trial set for January

Published April 23, 2014 - 10:19am CST

(Reuters) — The high-stakes penalty phase of BP P.L.C.'s trial over its role in the 2010 U.S. Gulf of Mexico oil spill will start next January, court officials said on Tuesday, and billions of dollars could be on the line.

States that did not expand Medicaid may see higher premiums: Health experts

By: Virgil Dickson, Modern Healthcare

Published April 23, 2014 - 8:53am CST

Some industry experts are warning that states that chose not to expand Medicaid coverage under Obamacare could see higher insurance premiums next year as hospitals continue to shift the costs of uncompensated care to private insurers.

Tenn. passes bill requiring some local governments to make full pension contributions

By: Rob Kozlowski, Pensions & Investments

Published April 23, 2014 - 8:43am CST

The Tennessee Legislature has sent a bill to Gov. Bill Haslam's desk that will require some local governments in the state to increase the contributions to their pension funds.

XL opens reinsurance operation in Dubai

By: Sarah Veysey

Published April 23, 2014 - 8:35am CST

XL Group P.L.C. has set up a reinsurance operation in Dubai, United Arab Emirates, XL announced Wednesday.

OFF BEAT: In a word — or 37,931 words — it’s insurance

Published April 22, 2014 - 5:02pm CST

Et tu, exclusions?