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Underwriting profit is key to marine insurers staying afloat

By: Judy Greenwald

Published September 14, 2014 - 6:00am CST

Ample capacity in the marine insurance market looks to continue for at least the near future. Marcus Baker, London-based chairman of Marsh Ltd.'s marine practice, said buyers have several highly rated insurers from which to choose, “so from that perspective, if you purchase right now, it's not a bad time.”

Marine insurers adjust to more complex risks as container ships grow in size

By: Douglas McLeod

Published September 14, 2014 - 6:00am CST

As shipowners seek to boost business and improve efficiency, marine insurance markets face mounting challenges that include larger vessels, skyrocketing salvage costs and risky Arctic shipping routes.

Commercial ships and ports face GPS hacks and other cyber risks

By: Douglas McLeod

Published September 14, 2014 - 6:00am CST

Banks and retailers aren't the only businesses facing cyber risks: Vessel owners and ports face them, too.

Surplus lines insurers seek top talent with unique skills

By: Bill Kenealy

Published September 14, 2014 - 6:00am CST

The specialized nature of the excess and surplus lines insurance sector puts a premium on attracting and cultivating top talent.

Lexington’s innovation boot camp lead David Kennedy to new career challenge

By: Bill Kenealy

Published September 14, 2014 - 6:00am CST

While insurance is in the blood of David M. Kennedy, his route to the industry was slightly circuitous.

Surplus lines market sees rise in premium volume as economy improves

By: Louise Esola

Published September 14, 2014 - 6:00am CST

A modest surge of business in the surplus lines market reflects an improving economy.

Business Insurance looks at past 30 tumultuous years of surplus lines market

By: Douglas McLeod

Published September 14, 2014 - 6:00am CST

The surplus lines business has seen plenty of upheaval during the 30 years since Business Insurance began ranking the market.

Insurer M&A activity slowly rebounding in first half of 2014: Clyde & Co.

By: Sarah Veysey

Published September 14, 2014 - 6:00am CST

There was a small increase in the number of merger and acquisitions deals in the insurance sector during the first half of 2014, according to a report by law firm Clyde & Co. L.L.P. in London published Sunday.

OFF BEAT: Author claims writer plagiarized her romance book, added sex

Published September 12, 2014 - 3:05pm CST

Hell hath no fury like a romance novelist scorned.

Marietta, Georgia, extends pension benefits to married same-sex couples

By: Matt Dunning

Published September 12, 2014 - 2:25pm CST

The city of Marietta, Georgia, has extended spousal benefits under its pension plan to legally wed same-sex couples.

Auto parts chain resolves EEOC charge of female manager harassing male worker

By: Judy Greenwald

Published September 12, 2014 - 2:24pm CST

An automotive parts chain has agreed to pay $35,000 under a consent decree to resolve a U.S. Equal Employment Opportunity Commission sexual harassment case in which a female store manager was accused of harassing a male worker, the agency said Friday.

Illinois law that raises tax on captive insurers draws fire

By: Rodd Zolkos

Published September 12, 2014 - 1:27pm CST

An Illinois law that apparently will subject Illinois-based companies to self-procurement taxes on premiums placed in their captives could be “very detrimental” to those companies' captive operations, a captive association leader said.

Home Depot has $105M in cyber insurance for data breach, $10M from AIG: Sources

By: Judy Greenwald

Published September 12, 2014 - 11:14am CST

Home Depot Inc. has a total of $105 million in cyber coverage, with American International Group Inc. providing the first layer of $10 million of primary coverage above its self-insured retention, market sources say.

JPMorgan says no cyber attack-related customer fraud seen

Published September 12, 2014 - 11:00am CST

(Reuters) — JPMorgan Chase & Co. said it had not seen any unusual customer fraud related to a recent cyber attack on the bank.

Mexican companies sue Yahoo, law firm, over $2.7B judgment

Published September 12, 2014 - 10:53am CST

(Reuters) — Two Mexican companies have sued Yahoo Inc. and law firm Baker & McKenzie in New York federal court, accusing them of engineering a conspiracy to avoid a $2.7 billion judgment issued by a Mexican court in 2012.

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