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Government had no right to take 80% in AIG bailout: Greenberg lawyer

By: Mark A. Hofmann

Published April 22, 2015 - 11:44am CST

WASHINGTON — The federal government did not have the authority to demand nearly 80% of AIG's equity in return for financial assistance during the 2008 financial crisis, an attorney for AIG investors told a federal judge Wednesday.

Thousands take advantage of health exchange special enrollment

By: Jerry Geisel

Published April 21, 2015 - 1:42pm CST

As of April 13, more than 68,000 individuals have taken advantage of a special enrollment period to enroll in health care plans offered through the federal health insurance exchange, federal regulators disclosed Monday.

E.U. mounts fresh bid to end U.S. reinsurance collateral rule

Published April 21, 2015 - 11:17am CST

(Reuters) — The European Union will mount a fresh bid to persuade the United States to free up the billions of euros in collateral it requires foreign reinsurers to set aside against policies.

U.S. calls for more oil train inspections, other safety measures

Published April 17, 2015 - 2:23pm CST

(Reuters) — Oil train operators must have detailed information on hand about the possible risks of their cargo in case of an accident and perform more thorough checks before moving on the tracks, U.S. transportation officials said on Friday.

Benefits lobbying group targets health care law's excise tax, work week rule

By: Jerry Geisel

Published April 15, 2015 - 9:54am CST

Five years after President Obama signed his signature health reform care law, it is time for legislators to consider changes to the law, the head of an employer benefits lobbying group says.

OSHA allies with chemical hazard group to boost safety

By: Bill Kenealy

Published April 13, 2015 - 4:17pm CST

The Occupational Safety and Health Administration announced on Monday a renewed alliance with the Society for Chemical Hazard Communication to help mitigate worker exposure to chemicals hazards.

California regulator imposes $1.6 billion penalty in natural gas fire

Published April 09, 2015 - 1:59pm CST

(Reuters) — California's chief utility regulator on Thursday ordered Pacific Gas & Electric Corp. to pay a record $1.6 billion in fines and other penalties stemming from its deadly 2010 San Bruno natural gas pipeline rupture and fire near San Francisco.

Louisiana weighs closed drug formulary to combat opioid abuse

By: Stephanie Goldberg

Published April 08, 2015 - 11:02am CST

A Louisiana bill would implement a closed drug formulary to help combat overutilization of opioids and compounded drugs in the state.

Uber, Lyft drivers could become ineligible for workers comp in Alaska

By: Sheena Harrison

Published April 06, 2015 - 10:56am CST

Alaska is considering a pair of bills that would exempt ride-sharing services such as Uber Technologies Inc. and Lyft Inc. from providing workers compensation coverage to drivers in their networks.

OSHA addresses violence in health care, social service industries

By: Stephanie Goldberg

Published April 02, 2015 - 2:02pm CST

The U.S. Occupational Safety and Health Administration has updated its guide for protecting health care and social service workers from workplace violence, the agency said Thursday.

North Dakota's new oil train safety checks seen missing risks

Published March 31, 2015 - 4:24pm CST

(Reuters) — New regulations to cap vapor pressure of North Dakota crude fail to account for how it behaves in transit, according to industry experts, raising doubts about whether the state’s much-anticipated rules will make oil train shipments safer.

Tennessee opt-out route for workers compensation hits roadblock

By: Stephanie Goldberg

Published March 25, 2015 - 2:34pm CST

The Tennessee Advisory Council on Workers' Compensation has unanimously decided not to recommend a bill that would allow employers to opt out of the state's workers compensation system.

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.

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.

Fed still learning on regulating insurance industry oversight

Published March 20, 2015 - 12:16pm CST

(Reuters) — The Federal Reserve is still coming to grips with how large insurance companies should be regulated to protect the financial system, Atlanta Fed President Dennis Lockhart said on Friday.

Asbestos trust transparency act signed into law in West Virginia

By: Judy Greenwald

Published March 19, 2015 - 12:56pm CST

West Virginia Gov. Earl Ray Tobin has signed into law a bill that seeks to coordinate asbestos claims that are filed both in litigation and trusts established in asbestos-related bankruptcy proceedings.

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

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.

Nevada lawmaker wants to gamble on pot for pets

Published March 18, 2015 - 1:18pm CST

(Reuters) — Pampered pets in the Silver State soon may qualify for a new prescription drug rider on their pet insurance policies.

U.K. crafting tax regime to boost London market

By: Sarah Veysey

Published March 18, 2015 - 11:33am CST

The U.K. government will develop a corporate tax structure to allow insurance-linked securities to be domiciled in the United Kingdom, Chancellor of the Exchequer George Osborne announced Wednesday in his budget presentation.

RIMS backs streamlining terrorism classification

By: Matthew Lerner

Published March 17, 2015 - 12:51pm CST

The Risk and Insurance Management Society has sent a letter to the Federal Insurance Office, Department of the Treasury in support of simplifying the process by which destructive acts are certified as terrorist events, RIMS said in a statement Tuesday.

Captive insurers catching the interest of smaller companies

Published March 15, 2015 - 6:00am CST

More than 50 years after captive pioneer Fred Reiss formed the first captive management firm in Bermuda, the policyholder-owned facilities are going strong and set to keep growing, which is good news for policyholders of all sizes. Captives have long been used by large companies to retain the working layers of risk, cover tough-to-place risks, improve risk management controls and gain direct...

Former RSA Ireland CFO says was afraid to blow whistle on under-reserving

Published March 12, 2015 - 2:35pm CST

(Reuters) — A former senior executive at RSA Ireland said on Thursday he did not feel the insurer’s top bosses in London would have supported him if he had tried to blow the whistle on the Irish unit under-reserving for claims.

China's captive insurance industry poised to grow

By: Sarah Veysey

Published March 09, 2015 - 3:25pm CST

Captive insurers are gaining popularity in China as well as other parts of Asia.

Credit unions battle their regulator over cyber security

Published March 09, 2015 - 2:09pm CST

(Reuters) — A common question asked of people in positions of power is what keeps them up at night.

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