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Louisiana to cut workers compensation insurance rates by 2.4%

By: Stephanie Goldberg

Published December 17, 2014 - 1:15pm CST

Louisiana businesses will see a 2.4% cut in workers compensation insurance rates as of May 1, 2015, according to the state’s insurance department.

Backlash expected from Senate's inaction on terrorism insurance backstop

By: Matthew Lerner

Published December 17, 2014 - 1:10pm CST

The failure of the Senate to vote on legislation extending the federal terrorism insurance program, will likely reverberate quickly through the insurance industry and the entire U.S economy, according to observers.

TRIA dead for 2014 as Senate fails to reauthorize

By: Mark A. Hofmann

Published December 17, 2014 - 9:18am CST

The federal terrorism insurance backstop will expire Dec. 31 after the Senate failed to reauthorize it Tuesday.

Missouri insurance department recommends 4.4% 2015 comp rate decrease

By: Sheena Harrison

Published December 16, 2014 - 11:07am CST

The Missouri Department of Insurance has recommended a 4.4% decrease in advisory workers compensation rates for 2015.

Texas risk management office names Todd Holt deputy executive director

By: Shelby Livingston

Published December 15, 2014 - 1:23pm CST

The Texas State Office of Risk Management has named L. Todd Holt as deputy executive director, effective Jan. 5.

Business, insurance leaders urge approval of terrorism insurance backstop extension

By: Mark A. Hofmann

Published December 15, 2014 - 10:47am CST

A group of insurance and business associations has sent a letter asking that the Senate approve without amendment a House measure that would extend the federal government's terrorism insurance backstop for six years.

Senator slams House insurance bill over Dodd-Frank changes

Published December 11, 2014 - 11:25am CST

(Reuters) — Democratic Sen. Charles Schumer on Thursday called for the U.S. House of Representatives to extend a federal terrorism insurance program by passing a “clean” bill with no controversial extra provisions.

House OKs bill easing insurer accounting standards

By: Mark A. Hofmann

Published December 11, 2014 - 10:49am CST

The House of Representatives gave final approval to an insurance-industry supported measure that would allow the Federal Reserve Board flexibility in determining which capital standards to apply to insurers under its supervision.

OFF BEAT: Long disbanded, Creedence Clearwater Revival dispute still muddy

Published December 10, 2014 - 5:04pm CST

A famous singer’s inability to keep his disappointment in his notoriously disgruntled former band mates under wraps has landed him in court.

House backs six-year extension of terrorism insurance backstop

By: Mark A. Hofmann

Published December 10, 2014 - 12:33pm CST

The U.S. House of Representatives approved a bill Wednesday that would extend the federal government's terrorism insurance backstop program for six years.

U.S. Treasury's Lew urges terrorism insurance backstop renewal

Published December 10, 2014 - 9:08am CST

(Reuters) — U.S. Treasury Secretary Jack Lew on Tuesday called on lawmakers to reauthorize a federal terrorism insurance program, saying they should not tie its approval to consideration of proposed changes to unrelated Wall Street reforms.

House may vote soon on its terrorism insurance backstop bill

By: Mark A. Hofmann

Published December 09, 2014 - 2:17pm CST

The House of Representatives could soon vote on its own measure to extend the federal government's terrorism insurance backstop before the lame-duck session ends later this week.

Congress close to compromise on terrorism insurance backstop

By: Mark A. Hofmann

Published December 05, 2014 - 9:59am CST

A compromise measure that would extend the federal government's terrorism insurance backstop program beyond its slated Dec. 31 sunset could be unveiled as early as today.

Judge won't dismiss credit card companies' case against Target

By: Judy Greenwald

Published December 04, 2014 - 1:13pm CST

A federal judge has refused to dismiss litigation filed by financial institutions against Target Corp. in connection with last year's data breach involving about 110 million of the retailer's customers.

E.U. watchdog expects quick action from insurer stress tests

Published December 01, 2014 - 8:45am CST

(Reuters) — The European Union's insurance watchdog said Monday it expected rapid action from insurers and supervisors to address weaknesses in capital and business models it had identified in a series of stress tests.

Insurers prepare to comply with tax rules for offshore accounts

By: Matthew Lerner

Published November 23, 2014 - 6:00am CST

Even as the insurance industry moves to meet the first reporting deadlines under the Foreign Account Tax Compliance Act, the law and compliance remain works in progress.

Insurance industry PACs back Republican winners in congressional races

By: Mark A. Hofmann

Published November 23, 2014 - 6:00am CST

Property/casualty insurance industry political action committees did well in the midterm elections, and officials say member input was crucial to their success.

NAIC supports adding to list of qualified reinsurance jurisdictions

By: Sarah Veysey

Published November 23, 2014 - 6:00am CST

While a group representing London market underwriters welcomes a National Association of Insurance Commissioners recommendation that five international regulators be added to its list of qualified jurisdictions, the International Underwriting Association says it does not go far enough in leveling the playing field for overseas reinsurers operating in the United States.

Insurance commissioners group's task force to target cyber security

By: Mark A. Hofmann

Published November 19, 2014 - 12:25pm CST

WASHINGTON — The National Association of Insurance Commissioners has created a task force to help coordinate insurance issues related to cybersecurity, the NAIC recently announced.

E.U. insurance watchdog warns on 'undue' investment incentives

Published November 19, 2014 - 11:55am CST

(Reuters) — The E.U.'s top insurance watchdog has warned against giving insurers strong enticements to invest in particular asset classes, saying this would run counter to prudent supervision.

Pool Re secures premium rate concessions from U.K. Treasury

By: Sarah Veysey

Published November 18, 2014 - 10:01am CST

Pool Reinsurance Co. Ltd. on Tuesday said it had secured several concessions and acceptance of several modernization proposals from the U.K. Treasury ahead of a Friday vote on Treasury proposals to increase the retrocession premium it charges the government-guaranteed terrorism reinsurance backstop.

Ohio creates captive insurance office

By: Shelby Livingston

Published November 17, 2014 - 9:53am CST

The Ohio Department of Insurance has created a new Office of Captive Insurance to regulate and support the state's recently authorized captive insurance companies.

U.S. insurers concerned about federal and foreign bank-style regulations

By: Mark A. Hofmann

Published November 09, 2014 - 6:00am CST

SCOTTSDALE, Arizona — U.S. property/casualty insurers and state regulators are concerned about how the actions of federal and foreign regulators will effect the the industry.

Insurance groups hope Republican-controlled Congress will amend Dodd-Frank

By: Mark A. Hofmann

Published November 09, 2014 - 6:00am CST

With Republican control of the next Congress, the insurance industry gains confidence that at least both chambers will consider pivotal changes to the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Aetna to form captive in Connecticut

By: Bill Kenealy

Published November 07, 2014 - 3:40pm CST

Hartford, Connecticut-based insurer Aetna Inc. confirmed on Friday that it is forming a captive insurance company, Aetna Risk Insurance Co., in its home state.

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