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Texas bill would toughen rules on asbestos and silica injury claimants

By: Judy Greenwald

Published May 22, 2015 - 2:57pm CST

A bill that would add required disclosures for claimants in asbestos or silica personal injury lawsuits, and allow defendants in these cases to stay proceedings and modify judgments under certain circumstances, has been approved by the Texas Senate and sent to Gov. Greg Abbott for approval.

HSBC wins reversal of $2.46 billion Household judgment

Published May 22, 2015 - 2:45pm CST

(Reuters) — A U.S. appeals court on Thursday reversed a $2.46 billion judgment against HSBC Holdings P.L.C. in a long-running securities fraud class action stemming from a consumer finance business it bought more than a decade ago.

Campus guard’s retaliation charge following harassment claim reinstated

By: Judy Greenwald

Published May 22, 2015 - 1:29pm CST

A federal appeals court has reinstated a retaliation charge filed by a former campus guard, who was fired herself after her complaint led to disciplinary action against a supervisor who had allegedly sexually harassed her.

Ruby Tuesday settles male servers' gender bias case

By: Judy Greenwald

Published May 22, 2015 - 12:10pm CST

Restaurant chain Ruby Tuesday Inc. has agreed to pay $100,000 to settle a gender discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission for allegedly refusing to hire two male servers, purportedly because of potential problems arranging dorm space for them in a resort town, the agency said.

Calling Godzilla. ‘Colossal’ lawsuit stirs up trademark infringement claims

Published May 22, 2015 - 12:07pm CST

A lawsuit is reminding producers of a new film that when it comes to Tokyo-destroying giant reptiles, you have to pay Godzilla its due.

Property/casualty reinsurers suffer big drop in net premiums

By: Matthew Lerner

Published May 22, 2015 - 10:53am CST

The group of 18 U. S. property/casualty reinsurers included in a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America wrote $9.7 billion of net premiums during the three months ended March 31, 2015, down 49.2% from the year ago period, the association l.c. said in a statement today.

MasterCard, Target fail to reach settlement on 2013 data breach

Published May 22, 2015 - 10:38am CST

(Reuters) — MasterCard Inc., the world's No. 2 debit and credit card company, said it failed to reach a settlement with Target Corp. over claims related to the 2013 data breach at the retailer as a key condition was not met.

Lumbermen’s ordered into financial rehabilitation

By: Sheena Harrison

Published May 21, 2015 - 2:43pm CST

Lumbermen’s Underwriting Alliance, a Boca Raton, Florida-based workers compensation insurer, has been placed into rehabilitation by a Missouri court, according to the Missouri Department of Insurance.

Detroit prosecutors join criminal probe of Takata over air bags

Published May 21, 2015 - 11:05am CST

(Reuters) — Prosecutors in Detroit have joined the U.S. federal probe into Takata Corp.’s defective air bag inflators that are linked to at least six deaths globally.

Deglobalization, 'Internet of things' hold unknown risks for insurers

By: Matthew Lerner

Published May 20, 2015 - 11:07am CST

Deglobalization and “challenges of the Internet of things” were two risks ranked to have a potential “high” impact over time for insurers and reinsurers in a new report by Swiss Re Ltd., the company said Wednesday in a statement.

Social media posts put brakes on man's chronic fatigue fraud

Published May 20, 2015 - 9:56am CST

An insurance cheat who claimed that illness had stopped him working was caught out by his social media posts detailing his hobby of modifying fast cars and driving them on the roads and racetracks of Cyprus.

Pharmacy in 2012 meningitis outbreak to pay victims $200 million

Published May 19, 2015 - 4:14pm CST

(Reuters) — The now-defunct Massachusetts pharmacy behind a deadly 2012 meningitis outbreak that killed at least 64 people will pay out $200 million to its victims and creditors under a bankruptcy reorganization plan approved on Tuesday.

Prescription drug costs drive increase in health care expense

By: Matt Dunning

Published May 19, 2015 - 3:29pm CST

A sharp surge in prescription drug costs helped push health care costs for families covered under an average employer's health insurance plan up an estimated 6.3% in 2015, according to a new report by Milliman Inc.

Air bag maker to declare 33.8 million vehicles defective

Published May 19, 2015 - 1:21pm CST

(Reuters) — Japanese air bag manufacturer Takata Corp. is expected to declare about 33.8 million vehicles defective on Tuesday, a move that is expected to lead to the largest auto recall in U.S. history, the Detroit News reported.

Insurers not liable in loss of IBM employee data

By: Judy Greenwald

Published May 18, 2015 - 2:17pm CST

The Connecticut Supreme Court on Monday unanimously affirmed a lower court ruling that a Chubb Corp. unit and Scottsdale Insurance Co. were not obligated to defend or indemnify under their general and umbrella liability policies the loss of cyber data on tapes that fell from a truck.

Pharmacy benefit manager acquires Medicare compliance unit

By: Sheena Harrison

Published May 18, 2015 - 11:44am CST

Helios, a Memphis, Tennessee-based pharmacy benefit management and settlement services firm, has acquired Ringler Medicare Solutions Inc., a Medicare Secondary Payer compliance unit, the companies announced in a statement.

Apple's trademark award vs. Samsung partially overturned

Published May 18, 2015 - 11:02am CST

(Reuters) — A U.S. appeals court on Monday reversed part of a $930 million verdict that Apple Inc. won in 2012 against Samsung Electronics Co. Ltd., saying the iPhone maker's trademark-related appearance could not be protected.

Risk Management Spotlight series: Laurent Barbagli, LaFarge

Published May 18, 2015 - 6:00am CST

In the second episode of Business Insurance's four-part Risk Management Spotlight video series, we get better acquainted with 2015 Risk Management Honor RollŪ winner, Laurent Barbagli, group risk and insurance manager at Paris-based Lafarge S.A.

Insurer cites cyber policy exclusion to dispute data breach settlement

By: Judy Greenwald

Published May 15, 2015 - 2:10pm CST

A CNA Financial Corp. unit is seeking a judicial ruling that it is not obligated to pay a $4.1 million settlement under an exclusion in a hospital system's cyber policy.

Energy firm pleads guilty to environmental crimes in coal ash spill

Published May 15, 2015 - 10:48am CST

(Reuters) — Duke Energy Corp pleaded guilty on Thursday to environmental crimes over a North Carolina power plant’s coal ash spill into a river and management of coal ash basins in the state, U.S. prosecutors said.

Labor Department fines DuPont over gas leak deaths

By: Sheena Harrison

Published May 14, 2015 - 3:32pm CST

The U.S. Department of Labor on Thursday said a DuPont facility in Texas could have prevented the deaths of four workers last year if the company had taken proper safety precautions.

Sally Beauty confirms data breach

By: Judy Greenwald

Published May 14, 2015 - 2:24pm CST

Sally Beauty Holdings Inc. on Thursday confirmed an “illegal intrusion” into its payment card system has occurred.

Insurer not liable for cyber policyholder's defense

By: Judy Greenwald

Published May 14, 2015 - 2:11pm CST

In one of the first coverage rulings involving a cyber insurance policy, a federal court has ruled that a Travelers Cos. Inc. unit is not obligated to defend a policyholder.

Hanover Insurance expands general liability, umbrella coverages

By: Judy Greenwald

Published May 14, 2015 - 1:27pm CST

Hanover Insurance Group Inc. is introducing an enhanced suite of general liability and umbrella coverage offerings, the insurer said Thursday.

Employers stick with offering health plans

By: Jerry Geisel

Published May 14, 2015 - 12:48pm CST

Virtually all employers offering group health care plans say they will continue to provide coverage next year, according to a new survey.

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