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National distributor acquires three agencies

By: Joyce Famakinwa

Published August 03, 2015 - 4:22pm CST

Huntington Beach, California-based national insurance distribution company Confie Seguros Holding II Co. said Monday it has acquired Dallas-based Insurance King Auto Agency L.L.C., West Seneca, New York-based Schunke Insurance Agency Inc., and Bellport, New York-based Reynolds & Reynolds Agency Inc.

Vermont captive formations up sharply

By: Jerry Geisel

Published August 03, 2015 - 2:40pm CST

Vermont regulators licensed 14 captive insurers during the first seven months of 2015, up from just six captives during the same period last year.

Boeing part reignites Malaysia jetliner mystery

By: Donna Mahoney

Published August 03, 2015 - 12:09pm CST

Last week's discovery of a Boeing 777 part washed up on the beach of the French island Reunion, reignites the mystery of missing Malaysia flight 370 that disappeared in March 2014.

Total of new federal class action securities lawsuits declining

By: Judy Greenwald

Published July 30, 2015 - 3:09pm CST

Plaintiffs brought 85 new federal class action securities cases in the first half of 2015, which was a decrease from the 92 filed during last year's second half, but class actions filed against both companies headquartered outside the United States, and those filed in federal appeals court in San Francisco increased, says a report.

Cyber coverage suite protects small to mid-size firms

Published July 29, 2015 - 11:39am CST

The Hanover Insurance Group Inc. has launched a suite of cyber products designed to protect small to mid-size businesses from cyber attack and data breach related losses, the insurer said Monday.

Alliance formed to seek repeal of ACA “Cadillac” tax

By: Jerry Geisel

Published July 28, 2015 - 3:53pm CST

A diverse group of two dozen employers, insurers and unions has banded together to form an alliance to convince Congress to repeal the health care reform law’s so-called “Cadillac” tax.

Risk modeler updates South American earthquake models

By: Joyce Famakinwa

Published July 28, 2015 - 3:31pm CST

Catastrophe risk modeling firm AIR Worldwide said Tuesday it has updated its earthquake models for South America. The updates on the models are based on new data about seismic risk in the area.

Feds ask AIG for more resolution plan details

By: Mark A. Hofmann

Published July 28, 2015 - 3:00pm CST

Federal regulators have asked American International Group Inc. and two other companies to provide more information about their resolution plans.

Trucker’s heart attack is compensable

By: Stephanie Goldberg

Published July 28, 2015 - 2:20pm CST

A long-haul truck driver’s heart attack arose out of and in the scope of his employment, the Tennessee Supreme Court has ruled.

EEOC charges food manufacturer with racial bias at Sara Lee plant

By: Judy Greenwald

Published July 28, 2015 - 1:09pm CST

The Equal Employment Opportunity Commission has filed suit against Hillshire Brands Co., charging it with racial discrimination on behalf of a class of about 70 black workers who had worked in its now-closed Paris, Texas plant.

Proxy firms advise PartnerRe shareholders to accept Exor offer

By: Matthew Lerner

Published July 28, 2015 - 11:27am CST

Two leading proxy advisory firms have recommended that PartnerRe Ltd. accept a cash buyout rather than approve a merger with Axis Capital Holdings Ltd. — but they also told Axis shareholders to vote for the merger.

Neiman Marcus cyber security ruling could have wide influence

By: Judy Greenwald

Published July 28, 2015 - 10:45am CST

A federal appeals court ruling involving retailer Neiman Marcus that permits consumer data breach victims to pursue their putative class action litigation is likely to be influential with other appellate courts.

Aspen profit plunges in second quarter

By: Sarah Veysey

Published July 28, 2015 - 10:07am CST

Aspen Insurance Holdings Ltd. on Tuesday posted net income of $49.0 million for the second quarter of 2015, a 62.5% drop compared with the second quarter of 2014.

Investment drop batters Berkley’s second quarter profit

By: Matthew Lerner

Published July 27, 2015 - 4:45pm CST

Second quarter net income was off 31.9% to $123.0 million for Greenwich, Connecticut-based insurer W.R. Berkley Corp. as net investment gains plummeted and expenses rose for the quarter.

Dead worker's estate can't sue employer for false imprisonment

By: Stephanie Goldberg

Published July 27, 2015 - 1:27pm CST

The estate of a woman who suffered a heart attack on the job and died can't sue her employer for false imprisonment and intentional infliction of emotional distress, the Mississippi Supreme Court has ruled.

Ford, IBM defeat appeal over apartheid abuses

Published July 27, 2015 - 11:51am CST

(Reuters) — Victims of apartheid in South Africa cannot pursue lawsuits seeking to hold Ford Motor Co. and IBM Corp. liable for conducting business that helped perpetuate the practice decades ago, a federal appeals court ruled on Monday.

Chinese firm to acquire international unit of American insurer

By: Sarah Veysey

Published July 27, 2015 - 9:36am CST

Hanover, New Hampshire-based White Mountains Insurance Group Ltd. on Monday said it has sold its property/casualty reinsurance and insurance unit Sirius International Insurance Group Ltd. to CM International Holding Pte. Ltd.

Residents evacuated after chemical spill sue railroad

By: Donna Mahoney

Published July 27, 2015 - 9:29am CST

Four residents of Maryville in Blount County, Tennessee, have filed a $5 million class action lawsuit against railroad CSX Transportation Inc., and Union Tank Car Co.

Guy Carpenter launches latest reserve risk modeling tool

By: Joyce Famakinwa

Published July 24, 2015 - 2:48pm CST

Risk and reinsurance specialist Guy Carpenter & Co. L.L.C. has launched the latest version of its reserve risk modeling tool MetaRisk Reserve 4.5.

Senate GOP to make new effort to repeal health care reform law

By: Jerry Geisel

Published July 24, 2015 - 11:56am CST

The Senate's top Republican will make a new effort this weekend to win passage of legislation to repeal the health care reform law.

Fake pet claims land couple behind bars

Published July 24, 2015 - 10:31am CST

Accountant Chelsea Stafford and her husband Stellio submitted nine claims on two pet insurance policies, collecting $12,970 dollars for their three sick Staffordshire bull terriers, according to British media reports.

Pension cuts not on multiemployer plan participants' radar — yet

By: Jerry Geisel

Published July 23, 2015 - 3:07pm CST

Few multiemployer pension plan participants are very concerned about a 2014 federal law that opens the door for financially troubled plans to cut benefits in order to stay afloat, according to a new survey.

Neiman Marcus hack victims cleared to pursue class action

By: Judy Greenwald

Published July 23, 2015 - 2:55pm CST

In what is being described as a significant ruling, a federal appeals court says injuries that victims of a data breach at Neiman Marcus allegedly sustained are sufficient to entitle them to pursue their putative class action lawsuit against the retailer.

Court must re-examine certified classes in Volvo litigation

By: Judy Greenwald

Published July 23, 2015 - 1:59pm CST

A federal court should have done a better job of establishing the various classes it approved in class action litigation filed by Volvo car owners, says a federal appeals court in remanding the case.

Allied World profit dives in second quarter

By: Matthew Lerner

Published July 23, 2015 - 10:19am CST

Second-quarter 2015 net income at Allied World Assurance Co. Holdings A.G. plunged to $9.5 million from $151.9 million a year ago, the Zug, Switzerland-based insurer said.

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