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Kodak to sweeten cash balance plan, end 401(k) plan match

By: Jerry Geisel

Published August 01, 2014 - 4:39pm CST

Eastman Kodak Co. next year will move all employees still accruing benefits in its traditional pension plan to a cash balance pension plan, which it will sweeten, but it will eliminate its 401(k) plan matching contribution.

Family of home-office worker who died not due comp death benefits

By: Stephanie Goldberg

Published August 01, 2014 - 3:14pm CST

The family of a worker who died of a pulmonary embolism after working throughout the night in her home office is not entitled to workers compensation death benefits, the New Jersey Supreme Court has ruled.

U.S. insurers to increase investment in IT: Survey

By: Bill Kenealy

Published August 01, 2014 - 2:09pm CST

U.S.-based insurance companies expect to increase their investment in technology, a report released Friday by London-based technology services provider Xchanging P.L.C. finds.

Fairfax Financial, CEO probed over possible insider trading

Published August 01, 2014 - 1:12pm CST

(Reuters) — Quebec's securities regulator is investigating Fairfax Financial Holdings Ltd., its CEO and its president for possible illegal insider trading as well as tipping, or passing along sensitive information, Fairfax said.

Senate passes House version of highway bill with eased pension funding

By: Rob Kozlowski, Pensions & Investments

Published August 01, 2014 - 1:11pm CST

The U.S. Senate approved on Thursday the House version of a highway funding bill that includes more generous pension funding calculations.

Obama order requires potential federal contractors to disclose labor violations

By: Judy Greenwald

Published August 01, 2014 - 12:47pm CST

President Obama signed an executive order Thursday that requires prospective federal contractors to disclose labor law violations for the past three years before they can get a contract.

OFF BEAT: Lingerie football players sue league over scanty pay

Published August 01, 2014 - 11:38am CST

Two lingerie football players are suing their former league in California court, saying that it wrongly classified its scantily clad athletes as independent contractors in order to pay them skimpy wages.

ACA subsidy case being appealed to Supreme Court

By: Bob Herman, Modern Healthcare

Published August 01, 2014 - 11:28am CST

Plaintiffs who lost in the 4th Circuit U.S. Court of Appeals ruling over the legality of health insurance subsidies being paid to those who bought plans on non-state exchanges have formally asked the U.S. Supreme Court to take up the case.

Pfizer says threats to managers force staff lockout at Mumbai factory

Published August 01, 2014 - 11:20am CST

(Reuters) — Pfizer Ltd., the Indian unit of U.S. drugmaker Pfizer Inc, said on Friday it locked out staff at its Mumbai drug factory after some employees tried to disrupt production lines and threatened management.

U.S. judge orders Microsoft to submit customer's emails from abroad

Published August 01, 2014 - 11:09am CST

(Reuters) — Microsoft Corp. must turn over a customer's emails stored in a data center in Ireland to the U.S. government, a U.S. judge ruled on Thursday in a case that has drawn concern from privacy groups and major technology companies.

Hewlett-Packard to pay $32.5M to settle USPS pricing case

Published August 01, 2014 - 11:00am CST

(Reuters) — Hewlett-Packard Co. will pay $32.5 million to resolve allegations it overcharged the U.S. Postal Service, the U.S. Department of Justice said Friday.

Burger King cuts ties with supplier in China food safety scare

Published August 01, 2014 - 10:50am CST

(Reuters) — Burger King Worldwide Inc. on Thursday said it would no longer buy products from OSI Group L.L.C. suppliers in China, where the fast-food hamburger chain has about 200 restaurants.

Worker due comp benefits for injury from filing cabinet struggle

By: Stephanie Goldberg

Published August 01, 2014 - 10:45am CST

An office worker who was injured while removing a file from a 'jammed up' filing cabinet is entitled to benefits because her workplace accident was the 'prevailing factor' in her medical condition.

Arch profit up 18.1% on premium and investment income growth

By: Matthew Lerner

Published August 01, 2014 - 10:21am CST

Hamilton, Bermuda-based Arch Capital Group Ltd. posted second quarter net income of $202.5 million, up 18.1% from the same period last year on solid premium and investment income growth.

Insurer Axa's profit surges despite low interest rates

Published August 01, 2014 - 9:12am CST

(Reuters) — Europe's second-biggest insurer, Axa S.A., posted a better-than-expected first-half profit on Friday and raised its cost-savings target, shrugging off the impact of falling interest rates.

Allianz to stick with old guard as CEO contract ends

Published August 01, 2014 - 9:02am CST

(Reuters) — Allianz is poised to reappoint Michael Diekmann as chief executive in October, investors believe, possibly delaying tough choices on whether Europe's largest insurer expands its global presence or returns more cash to shareholders.

This week's Top 10 features on BusinessInsurance.com

Published August 01, 2014 - 6:00am CST

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

EEOC charges City Colleges of Chicago with age discrimination

By: Judy Greenwald

Published July 31, 2014 - 4:20pm CST

The U.S. Equal Employment Opportunity Commission has filed an age discrimination lawsuit against a City Colleges of Chicago community college for allegedly failing to hire an adjunct professor for a full-time faculty position because of her age.

SEC awards $400K to whistleblower who first tried internal resolution

By: Judy Greenwald

Published July 31, 2014 - 3:35pm CST

The U.S. Securities and Exchange Commission has issued an award of more than $400,000 to a whistleblower who reported a fraud to the agency after the company failed to address the issue internally, the agency said Thursday.

Insurer not required to pay for Phoenix diocese's abuse settlements: Court

By: Judy Greenwald

Published July 31, 2014 - 3:30pm CST

A Fireman's Fund Insurance Co. unit is not obligated under terms of its excess insurance policies to indemnify the Roman Catholic diocese in Phoenix for settlements it reached in connection with priests' sexual abuse.

Irish gambling site reveals data breach

By: Judy Greenwald

Published July 31, 2014 - 3:00pm CST

An online Irish gambling website said Thursday that data on 649,055 of its customers was hacked in 2010, although no financial information or customer passwords were accessed in the hacking incident.

Target names outsider as CEO after data breach

Published July 31, 2014 - 2:38pm CST

(Reuters) — Beleaguered retailer Target Corp. named former PepsiCo and Wal-Mart executive Brian Cornell as CEO and chairman as it tries to regain customer confidence following a devastating data breach last year that hit earnings.

Commercial property/casualty rates remain soft in 2nd quarter: Survey

By: Matthew Lerner

Published July 31, 2014 - 2:24pm CST

Commercial property/casualty insurance pricing continued to soften during the second quarter, according to the Council of Insurance Agents & Brokers' quarterly “Commercial Property/Casualty Market Index Survey."

Cigna to expand into new state exchanges despite early exchange financial losses

By: Melanie Evans, Modern Healthcare

Published July 31, 2014 - 2:06pm CST

Insurer Cigna Corp. plans to enter health insurance exchanges in Maryland, Georgia and Missouri next year, expanding its investment in the newly created markets despite losses seen in other exchange markets.

Single payment option available for Transitional Reinsurance Program fee: HHS

By: Jerry Geisel

Published July 31, 2014 - 1:41pm CST

Employers will have their choice to pay a controversial health care reform law fee in one payment or two installments, according to new guidance from the U.S. Department of Health and Human Services.

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