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Politics, conflict undermine supply chains

By: Matthew Lerner

Published March 31, 2015 - 12:01pm CST

Ukraine and Thailand pose substantial supply chain exposures, while Taiwan has improved its supply chain resiliency, according to FM Global's 2015 Global Resilience Index, released Tuesday.

AIG to sell $500 million in shares of Chinese insurer

By: Mark A. Hofmann

Published March 31, 2015 - 10:07am CST

American International Group Inc. plans to sell 256 million shares of China's PICC Property & Casualty Co. Ltd. for about $500 million.

Former American Apparel CEO seeking $40 million in damages

Published March 27, 2015 - 10:51am CST

(Reuters) — The founder and former CEO of American Apparel Inc., Dov Charney, plans to file a lawsuit claiming $40 million in damages for breaches of his employment contract, and more lawsuits are planned, his attorney said on Friday.

Yemen conflict may drive up marine insurance rates

Published March 27, 2015 - 10:22am CST

(Reuters) — Conflict in Yemen risks spilling out into the busy sea lanes that pass it and potentially disrupting the narrow Bab el-Mandeb passage through which nearly 4 million barrels of oil are shipped daily to Europe, the United States and Asia and driving up insurance costs.

Nurse allergic to floor wax qualifies for workers comp

By: Sheena Harrison

Published March 26, 2015 - 2:48pm CST

A Pennsylvania nurse should receive workers compensation benefits for exposure to a floor wax that caused her to have breathing problems, even though she has since moved on to a new part-time job and is no longer experiencing asthma symptoms.

Bermuda reinsurer exiting business

By: Shelby Livingston

Published March 26, 2015 - 1:41pm CST

AQR Re Management Ltd., the reinsurance arm of Greenwich, Connecticut-based AQR Capital Management L.L.C., will stop writing business April 1.

'Farmville' firm must face lawsuit alleging fraud tied to IPO

Published March 26, 2015 - 11:44am CST

(Reuters) — Zynga Inc. must face a lawsuit accusing the online gaming company known for “FarmVille” of defrauding shareholders about its prospects before and after its December 2011 initial public offering.

U.S. Supreme Court revives pregnant worker's case against UPS

Published March 25, 2015 - 10:32am CST

(Reuters) — The U.S. Supreme Court on Wednesday revived a woman driver’s pregnancy discrimination claim against package delivery company UPS Inc. by sending the case back to a lower court.

House lawmakers introduce bipartisan bill to reform U.S. risk panel

Published March 24, 2015 - 2:19pm CST

(Reuters) — A Republican congressman and a Democratic colleague have introduced a bill to shed more light on the workings of the Financial Stability Oversight Council, which watches for emerging threats to market stability.

Humana to sell Concentra medical center unit for $1 billion

Published March 23, 2015 - 9:40am CST

(Reuters) — Health insurer Humana Inc. said on Monday that it would sell its Concentra urgent care and physical therapy services unit for about $1 billion to private equity firm Welsh, Carson, Anderson & Stowe and Select Medical Holdings Corp.

Information is key in complex business interruption claims

By: Matthew Lerner

Published March 22, 2015 - 6:00am CST

Superstorm Sandy, which hit the northeast U.S., and massive flooding in Thailand are among catastrophes that have reshaped the way insurers and buyers deal with business interruption claims.

Comp insurer loses in blaming competitors for hurt business

By: Sheena Harrison

Published March 20, 2015 - 1:54pm CST

A Montana workers compensation insurer can't sue its competitors for unfair trade practices after it claimed other insurers spread “falsehoods” about the company to potential workers comp insurance buyers.

ABR Reinsurance to raise nearly $1.3 billion

By: Matthew Lerner

Published March 20, 2015 - 1:47pm CST

ABR Reinsurance Capital Holdings Ltd., the reinsurance venture between Ace Ltd. and investment bank Blackrock Inc. has filed documents with the Securities and Exchange Commission indicating the venture plans to raise as much as $1.3 billion.

Private sector lags on cyber security

By: Bill Kenealy

Published March 20, 2015 - 1:31pm CST

CHICAGO — Despite the recent spate of highly-publicized data breaches, companies and their insurers are still struggling to get their arms around the risks represented by cyber crime.

2015 Risk Management Summit photos

Published March 20, 2015 - 12:43pm CST

Risk managers from the United States and Europe gathered at the Roosevelt Hotel in New York on March 4-5 for the Risk Management Summit, a Business Insurance annual networking and educational conference.

Martial arts fighting fireman charged with stealing disability pension

By: Stephanie Goldberg

Published March 20, 2015 - 11:47am CST

A former New Jersey firefighter has been charged with fraudulently collecting more than $82,000 through a disability pension while teaching jiujitsu and participating in a mixed martial arts competition, the state Attorney General’s Office said.

Cyber coverage a double-edged sword for insurance industry

By: Judy Greenwald

Published March 19, 2015 - 2:08pm CST

Cyber insurance is a growth opportunity for the insurance industry that also presents an “incalculable threat,” says Fitch Ratings Ltd. in a report issued Thursday.

Exotic dancer shot by stray bullet eligible for workers comp

By: Stephanie Goldberg

Published March 19, 2015 - 12:41pm CST

A South Carolina woman who was shot while working as an exotic dancer is an employee, not an independent contractor, and is therefore entitled to workers compensation, the state Supreme Court ruled Wednesday.

Senate panel takes up cyber insurance issues

By: Mark A. Hofmann

Published March 19, 2015 - 12:19pm CST

A single federal standard for notifying victims of cyber security breaches is preferable to the current patchwork of state laws, an attorney who is also a professor of insurance law told a Senate panel on Thursday

Willis Re flood modeling tool targets Canadian risks

By: Shelby Livingston

Published March 19, 2015 - 11:58am CST

Willis Re, the reinsurance arm of Willis Group Holdings P.L.C., on Thursday launched a suite of tools that allows insurers in Canada to identify potential flood exposures.

Target agrees to pay $10 million to settle lawsuit from data breach

Published March 19, 2015 - 11:14am CST

(Reuters) — Target Corp. has agreed to pay $10 million in a proposed settlement of a class-action lawsuit related to a huge 2013 data breach that consumers say compromised their personal financial information, court documents show.

Allianz hedges stake in Chinese insurer through deal with Goldman

Published March 19, 2015 - 9:12am CST

(Reuters) — Allianz S.E. struck a deal with Goldman Sachs to help the German company hedge part of its stake in China Pacific Insurance Group and lock in profits from two rounds of investments that Allianz made in China’s third-largest insurer.

EEOC seeks public comment on existing regulations

By: Judy Greenwald

Published March 18, 2015 - 3:11pm CST

The U.S. Equal Employment Opportunity Commission is seeking public comment in connection with a review of whether it should modify, streamline, expand or repeal significant existing regulations, the agency said Wednesday.

Securities lawsuits against life sciences firms spike in 2014

By: Judy Greenwald

Published March 18, 2015 - 2:54pm CST

The number of securities class action lawsuits filed against life sciences companies increased dramatically in 2014, and they accounted for a larger percentage of the total number of class actions filed as well, says a law firm survey.

Company that disregarded safety not covered under CGL policy

By: Stephanie Goldberg

Published March 18, 2015 - 2:30pm CST

An insurer that covered employers under a commercial general liability policy isn't obligated to indemnify the employers if they're found liable in an injured worker's intentional tort claim, the Ohio Supreme Court ruled Thursday.

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