Business Insurance - Web News http://businessinsurance.com/section/news http://www.businessinsurance.com en-us Fri, 29 Jul 2016 21:27:07 EST 10 Workers comp denial leads to wrongful death suit http://businessinsurance.com/article/20160729/NEWS08/160729774 20160729/NEWS08/160729774 The parents of a Santa Barbara, California, police officer have filed a lawsuit, accusing the city of causing the demise of their son, who drank himself to death after being denied workers compensation for his post-traumatic stress disorder claim. Fri, 29 Jul 2016 15:41:08 EST Hartford profit dives on underwriting, investments http://businessinsurance.com/article/20160729/NEWS06/160729775 20160729/NEWS06/160729775 Hartford Financial Services Group Inc. saw net income for the second quarter of 2016 fall 48% from the prior-year period, to $216 million, due partly to lower property/casualty underwriting results and lower net investment income. Fri, 29 Jul 2016 14:11:39 EST FTC slaps cancer testing firm over lax data security http://businessinsurance.com/article/20160729/NEWS06/160729776 20160729/NEWS06/160729776 The Federal Trade Commission on Friday issued an opinion and final order holding that LabMD Inc.’s data security practices were unreasonable and lacked “even basic precautions.” Fri, 29 Jul 2016 14:01:31 EST Scholastic Corp. terminates cash balance plan http://businessinsurance.com/article/20160729/NEWS03/160729777 20160729/NEWS03/160729777 Scholastic Corp., New York, terminated its U.S. cash balance plan, its recent 10-K filing with the Securities and Exchange Commission shows. Fri, 29 Jul 2016 13:44:45 EST Apple asks U.S. Supreme Court to rule against Samsung over patents http://businessinsurance.com/article/20160729/NEWS06/160729778 20160729/NEWS06/160729778 (Reuters) — Apple Inc. on Friday asked the U.S. Supreme Court to clear the way for the iPhone maker to secure hundreds of millions in damages from Samsung Electronics Co. Ltd. in a case over smartphone design patents. Fri, 29 Jul 2016 13:36:11 EST Organic growth aids Arthur J. Gallagher’s 4.1% rise in quarterly revenue http://businessinsurance.com/article/20160729/NEWS06/160729779 20160729/NEWS06/160729779 Despite a challenging quarter for its risk management segment, Arthur J. Gallagher & Co. said Friday that organic, merger-related and productivity growth helped boost its second-quarter revenue 4.1% to $1.43 billion. Fri, 29 Jul 2016 12:25:57 EST Chubb promotes exec to reinsurance post http://businessinsurance.com/article/20160729/NEWS06/160729781 20160729/NEWS06/160729781 Chubb Ltd. has named Philadelphia-based Michael Kessler vice president of Chubb Group and chief reinsurance officer to replace William O'Farrell who is leaving the company. The appointment takes effect Aug. 1. Fri, 29 Jul 2016 12:05:45 EST Aon posts lackluster second quarter results http://businessinsurance.com/article/20160729/NEWS06/160729782 20160729/NEWS06/160729782 Aon P.L.C.'s revenues for the second quarter of this year dropped 1.4% from those of the same period a year earlier to $2.77 billion, Aon announced Friday. Fri, 29 Jul 2016 11:21:41 EST Cigna remains 'fully committed' to Anthem merger as profit drops http://businessinsurance.com/article/20160729/NEWS03/160729783 20160729/NEWS03/160729783 Net income falls 13.9% on weakness in its group life and disability business, as well as costs associated with its merger with Anthem Inc. Fri, 29 Jul 2016 11:01:41 EST Ireland jails three top bankers over 2008 banking meltdown http://businessinsurance.com/article/20160729/NEWS06/160729784 20160729/NEWS06/160729784 (Reuters) — Three senior Irish bankers were jailed on Friday for up to three-and-a-half years for conspiring to defraud investors in the most prominent prosecution arising from the 2008 banking crisis that crippled the country's economy. Fri, 29 Jul 2016 10:47:21 EST