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Week in pictures

Published July 02, 2015 - 11:47am CST

Insurance industry consolidation was the main order of the holiday-shortened week. But there was also plenty on the disaster, data breach and Apple fronts for Business Insurance.

Employers interested in moving retirees to public exchanges, Mercer says

By: Jerry Geisel

Published July 02, 2015 - 11:36am CST

Nearly half — 45% — of employers that offer health care coverage to pre-Medicare eligible retirees say they are considering or already have begun directing the retirees to public exchanges, according to a new Mercer L.L.C. survey.

Broker continues acquisition streak with another agency buy

By: Donna Mahoney

Published July 02, 2015 - 11:16am CST

Insurance brokerage Alliant Insurance Services Inc., Newport Beach, California, on Thursday said it has expanded its managing general agent practice through the acquisition of New York-based Preferred Concepts L.L.C.

Telemedicine gaining acceptance

By: Shelby Livingston

Published July 02, 2015 - 11:00am CST

LAS VEGAS — On-site health care clinics that treat employees' medical issues on the spot along with providing preventive care have proven a valuable investment for some employers, but they aren't financially feasible for small companies.

Medical care inflation could increase workers comp costs

By: Stephanie Goldberg

Published July 02, 2015 - 10:58am CST

With medical care inflation expected to rise, workers compensation payers should take steps to control higher medical costs per claim, sources said.

Panda Re catastrophe bond covers China risks

By: Matthew Lerner

Published July 02, 2015 - 10:15am CST

Panda Re Ltd., the first catastrophe bond to cover natural disaster risks in China, has been issued by state-owned reinsurer China Property and Casualty Reinsurance Co. of Beijing.

Nestle to close U.K. pension plan

By: Timothy Pollard, Pensions & Investments

Published July 02, 2015 - 9:26am CST

Nestle U.K. announced Thursday it would close its defined benefit pension scheme, replacing it with a defined contribution plan.

BP says settles 2010 oil spill claims for $18.7 billion

Published July 02, 2015 - 9:07am CST

(Reuters) — BP P.L.C. said it has reached an $18.7 billion settlement of damages claims from the U.S. government and five states after the 2010 Gulf of Mexico spill.

This week's Top 10 features on BusinessInsurance.com

Published July 02, 2015 - 6:00am CST

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

Agents group unveils data breach certification program

By: Joyce Famakinwa

Published July 01, 2015 - 4:19pm CST

The National Association of Professional Agents has launched a data breach compliance and certification program.

Trump's hotel collection under possible credit card breach: Blog

Published July 01, 2015 - 4:10pm CST

(Reuters) — Real estate developer Donald Trump's string of luxury hotel properties, The Trump Hotel Collection, could be the latest victim of credit card breach, KrebsonSecurity reported, citing data shared by several U.S.-based banks.

Deloitte settles auditor independence dispute for more than $1 million

By: Judy Greenwald

Published July 01, 2015 - 2:56pm CST

Consulting firm Deloitte & Touche L.L.P. on Wednesday agreed to pay more than $1 million to settle U.S. Securities and Exchange Commission charges that it violated auditor independence rules when its consulting affiliate maintained a business relationship with a trustee serving on the boards and audit committees of three funds it audited.

Marsh & McLennan Agency acquires St. Louis broker

By: Donna Mahoney

Published July 01, 2015 - 2:39pm CST

Marsh & McLennan Agency L.L.C., a White Plains, New York-based subsidiary of Marsh L.L.C., on Wednesday said it has acquired St. Louis-based independent insurance broker J.W. Terrill Inc.

Accidental shooting at hunt club not covered by insurance

By: Judy Greenwald

Published July 01, 2015 - 1:54pm CST

Scottsdale Insurance Co. is not obligated to indemnify a hunt club member who accidentally shot someone under terms of the club’s commercial general liability policy, an appeals court ruled.

Reinsurance pricing stabilizes at June, July renewals

By: Matthew Lerner

Published July 01, 2015 - 1:34pm CST

Reinsurance pricing showed signs of stabilizing during June 1 and July 1 renewals on more balanced supply and demand, Willis Group Holdings P.L.C. said Wednesday in a new report.

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