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Vermont to ease captive insurer rules

By: Jerry Geisel

Published May 05, 2015 - 2:12pm CST

Vermont Gov. Peter Shumlin is expected to sign legislation Thursday making a series of changes to the state's captive statute.

Sally Beauty investigating unusual credit card activity

By: Judy Greenwald

Published May 05, 2015 - 2:07pm CST

Sally Beauty Holdings Inc., which reported more than a year ago that it had been the victim of a cyber breach, said it is investigating new “unusual” payment card activity at some of its U.S. Sally Beauty stores.

Railroad not liable for worker's heart attack death

By: Bill Kenealy

Published May 05, 2015 - 1:17pm CST

CSX Transportation Inc. was not liable for the 2006 death of a conductor from a heart attack, a Florida appeals court has ruled, upholding a lower court ruling.

No disruptive singing in the Post Office, please

Published May 05, 2015 - 12:23pm CST

Singing in the rain may result in a glorious feeling, but singing in the post office apparently is not a constitutional right.

Global specialty insurer expands aviation coverage to U.S.

By: Shelby Livingston

Published May 05, 2015 - 11:27am CST

Global specialty insurer Torus Insurance Holdings Ltd. has partnered with Seattle-based managing general agent London Aviation Underwriters Inc. to write general aviation insurance in the United States.

Verisk Insurance Solutions unveils peril analytics report

By: Mark A. Hofmann

Published May 05, 2015 - 11:01am CST

Verisk Analytics Inc.’s Verisk Insurance Solutions unit on Tuesday said it has developed a new analytic report that helps insurance underwriters accurately determine the likelihood of fire incidents and a broad spectrum of nonmodeled weather events at specific locations.

PlayStation hacking settlement a missed opportunity

By: Judy Greenwald

Published May 05, 2015 - 10:54am CST

Sony and Zurich American's settlement of their litigation in connection with the 2011 hacking of Sony's PlayStation Network represents a missed opportunity for a ruling that commercial general liability policies cover cyber risks.

Property/casualty insurance pricing remains competitive

By: Mark A. Hofmann

Published May 05, 2015 - 9:54am CST

Average commercial property/casualty insurance prices were flat in April compared with those of the same month a year earlier, Dallas-based electronic insurance exchange MarketScout reported Tuesday.

Mercer launches value-based employer health care tools

By: Matt Dunning

Published May 04, 2015 - 3:08pm CST

Mercer L.L.C. on Monday said it has launched a suite of online and mobile tools designed to help employers provide value-based health care to their employees.

Stakes rise in Bermuda reinsurer bidding triangle

By: Matthew Lerner

Published May 04, 2015 - 2:59pm CST

Axis Capital Holdings Ltd. on Monday said it revised its offer for PartnerRe Ltd., adding a special one-time cash dividend of $11.50 per share to its merger offer in response to Exor S.p.A.'s $130-per-share all-cash offer for the reinsurer.

Las Vegas Hard Rock reveals 7-month payment card hack

By: Judy Greenwald

Published May 04, 2015 - 2:18pm CST

Hackers obtained credit and debit card information from customers at the Hard Rock Hotel & Casino in Las Vegas over a seven-month period that ended April 2, its chief operating officer said.

MRSA infection leads to impairment, return to work ruling

By: Stephanie Goldberg

Published May 04, 2015 - 2:04pm CST

A Tennessee maintenance technician who developed methicillin-resistant Staphylococcus aureus, a drug-resistant staph infection, from a work-related injury is entitled to a 7% impairment rating and was denied a “meaningful return to work."

Worker gets comp benefits despite irregular opioid prescription use

By: Sheena Harrison

Published May 04, 2015 - 12:11pm CST

A New York employer can’t discontinue workers compensation indemnity benefits for an injured worker whose urine drug tests showed that the man was not taking an opioid medication regularly, a New York appellate court has ruled.

Berkshire Hathaway profitable overall, but unit stories vary

By: Mark A. Hofmann

Published May 04, 2015 - 11:42am CST

Pretax underwriting losses in both its property/casualty and life and health operations adversely affected the first-quarter performance of Berkshire Hathaway Inc.'s General Re. Corp. unit.

CNA net income rises despite challenging market

By: Matthew Lerner

Published May 04, 2015 - 11:22am CST

CNA Financial Corp. reported first-quarter net income of $233 million, sharply higher than the $13 million gain a year earlier in a quarter hit by a $207 million charge due to discontinued operations, the insurer reported Monday.

Promoters fight back against Mayweather-Pacquiao piracy

Published May 04, 2015 - 11:09am CST

Floyd Mayweather Jr. defeated Manny Pacquiao on Saturday to become the welterweight world champion, but the next fight could be between promoters and streaming sites.

Reinsurance leader happy, not considering future mergers

By: Judy Greenwald

Published May 01, 2015 - 3:11pm CST

Validus Holdings Ltd. leader Ed Noonan said he is happy with the company's current business model and not even considering the prospect of merging with another reinsurer.

Canada toughens oil train safety standards

Published May 01, 2015 - 2:44pm CST

(Reuters) — The United States and Canada on Friday announced long-awaited safety rules for trains carrying oil, as regulators seek to reduce risks after a series of explosive accidents that accompanied a surge in crude-by-rail shipments.

OSHA issues final confined space construction rule

By: Bill Kenealy

Published May 01, 2015 - 2:34pm CST

The Occupational Safety and Health Administration issued a final confined spaces rule Friday to increase protections for construction workers.

Chicago's solvency at risk as pension liability grows

Published May 01, 2015 - 2:21pm CST

(Reuters) — Chicago's $20 billion unfunded public pension liability is on track to grow significantly regardless of the outcomes of litigation over the constitutionality of benefit cuts or legislative action, Moody's Investors Service said on Friday.

Insurer not liable for $7 million judgment in charcoal kiln door death

By: Stephanie Goldberg

Published May 01, 2015 - 2:12pm CST

An insurer has no duty to defend or indemnify the owner of a charcoal manufacturing company where a worker was killed when she was crushed by a 2,000-pound steel door, the Missouri Supreme Court has ruled.

Music streaming service Grooveshark shuts down to settle infringement

Published May 01, 2015 - 10:53am CST

(Reuters) — Online music streaming service Grooveshark, admitting "very serious mistakes," shut down its operations as part of a settlement with major record labels, joining the ranks of several now-defunct peers sued over copyright infringement.

Pharmacy benefits unit to pay $45 million over Novartis kickback scheme

Published May 01, 2015 - 10:31am CST

(Reuters) — A unit of pharmacy benefits manager Express Scripts Holding Co. will pay $45 million to resolve U.S. claims it participated in a kickback scheme with Novartis AG to boost sales of a drug that led to improper government reimbursements.

Sony, Zurich settle PlayStation Network hacking case

By: Judy Greenwald

Published April 30, 2015 - 2:42pm CST

Sony Corp. of America and Zurich American Insurance Co. have reached a settlement in connection with the 2011 hacking of Sony's PlayStation Network, according to reports.

Reinsurance group elects new officers

By: Mark A. Hofmann

Published April 30, 2015 - 2:34pm CST

Henry Klecan, president and CEO of Scor U.S. Corp. has been elected chair of the Reinsurance Association of America’s board of directors for a one-year term.

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