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U.S. loses bid to dismiss ex-AIG CEO's $25B lawsuit over bailout

Published August 26, 2014 - 4:35pm CST

(Reuters) — A federal judge has rejected the United States' bid to dismiss a more than $25 billion lawsuit filed by Maurice R. Greenberg, the former chief executive of American International Group Inc.

U.S. inspector wanted reactor shut on quake fears: Report

Published August 26, 2014 - 11:03am CST

(Reuters) — A federal nuclear inspector urged U.S. regulators to shut down a California nuclear power plant until tests showed its reactors could withstand quake shocks.

Allied World to buy RSA insurance operations in Hong Kong and Singapore

By: Mark A. Hofmann

Published August 22, 2014 - 10:29am CST

Allied World Assurance Co. Ltd. unit has reached agreements to acquire Royal & Sun Alliance Insurance P.L.C. Hong Kong and Singapore operations for about $215 million.

Guidance on transgender bias issued for federal contractors

By: Judy Greenwald

Published August 20, 2014 - 12:11pm CST

The Department of Labor’s Office of Federal Contract Compliance Programs has issued guidance to companies that hold contracts with the federal government on the issue of extending federal discrimination laws to transgendered individuals.

Nine of 10 New York building plans fail basic energy code test

By: Joe Anuta, Crain's New York Business

Published August 18, 2014 - 3:58pm CST

Earlier this year, the New York City's Department of Buildings began auditing thousands of architectural plans for new and renovated office and residential buildings. The results have been staggering: nine of every 10 have failed to meet the energy code, a set of standards that have been on the books for more than 30 years but are only now being enforced in earnest.

DEA reclassifies painkiller tramadol as a controlled substance

By: Stephanie Goldberg

Published August 18, 2014 - 3:49pm CST

The U.S. Drug Enforcement Administration began labeling tramadol, an opioid pain medication, as a Schedule IV controlled substance on Monday, according to a final rule published in the Federal Register.

IRS scrutiny of 831(b) tax treatment for microcaptives a VCIA 'hot topic'

By: Rodd Zolkos

Published August 15, 2014 - 9:36am CST

BURLINGTON, Vt.—Among the “hot topics” discussed at the Vermont Captive Insurance Association's annual conference was the Internal Revenue Service's scrutiny of so-called “microcaptives."

China suspends work at 214 factories after deadly blast

Published August 06, 2014 - 11:13am CST

(Reuters) — China has shut 214 factories for safety risks in a city where an explosion at an auto parts factory last week killed 75 people, state media said on Wednesday.

U.S. Treasury to put public pensions under scrutiny

Published August 05, 2014 - 9:40am CST

(Reuters) — The Treasury Department's new office on state and local finance will scrutinize public pensions, appointing a specialist in the area and becoming a resource for retirement planning.

Sanford Saito named Hawaii's captive insurance administrator

By: Bill Kenealy

Published July 23, 2014 - 12:03pm CST

Sanford Saito has been appointed deputy commissioner and captive insurance administrator for the Hawaii Department of Commerce and Consumer Affairs Insurance Division.

Guide covers noncompete and trade secrets laws for all 50 states

By: Judy Greenwald

Published July 22, 2014 - 2:10pm CST

Chicago-based law firm Seyfarth Shaw has released a guide to the 50 states’ noncompete and trade secrets laws.

Bangladesh charges 18 over garment factory collapse

Published July 16, 2014 - 11:52am CST

(Reuters) — Bangladesh’s anti-corruption agency filed charges on Wednesday against 18 people accused of breaching regulations over the construction of a building that collapsed last year killing more than 1,130 people.

FERMA certification program moves ahead with framework and funding

By: Sarah Veysey

Published July 08, 2014 - 10:13am CST

The Federation of European Risk Management Associations on Tuesday said it has agreed on a framework and funding provision to create a certification program for European risk managers.

Ohio employer's due process rights not violated by workers comp liens: Court

By: Sheena Harrison

Published June 30, 2014 - 4:21pm CST

The Ohio Bureau of Workers' Compensation did not violate an employer's due process rights when it issued millions of dollars in workers comp liens against the company, the 6th U.S. Circuit Court of Appeals in Cincinnati has ruled.

Florida governor signs sweeping data security breach bill into law

By: Judy Greenwald

Published June 24, 2014 - 3:11pm CST

Florida Gov. Rick Scott has signed into law a bill that repeals the state's current data security breach law and replaces it with what one observer describes as the nation's broadest and most encompassing breach law.

IRS approves New York Times adjustable pension plan

By: James Comtois, Pensions & Investments

Published June 20, 2014 - 9:28am CST

The IRS approved the Newspaper Guild of New York and New York Times' application to begin an adjustable pension plan that will allow the newspaper company to keep a defined benefit plan structure, said Bill O'Meara, president of the guild.

OFF BEAT: Tennessee whiskey standards too stiff for lawmakers

Published June 12, 2014 - 9:46am CST

Legislators in Tennessee say a year-old law establishing certain production standards for whiskey bearing the state’s name is too stiff for their liking.

U.S. Senate OKs adjusting capital rules for insurers

Published June 04, 2014 - 9:06am CST

(Reuters) — The U.S. Senate has approved a bill tweaking the 2010 Dodd-Frank law’s treatment of insurers, a rare adjustment to the Wall Street reform law that had been sought by the industry.

Airmic, Axco team on regulatory requirements database for risk managers

By: Sarah Veysey

Published June 03, 2014 - 9:18am CST

London-based Airmic Ltd., the U.K. risk management association, and information company Axco Insurance Information Services Ltd. on Tuesday launched a database of regulatory requirements to help risk managers ensure their global insurance programs are compliant.

Terrorism Risk Insurance Act renewal bill set for June 3 vote

By: Jerry Geisel

Published May 30, 2014 - 3:20pm CST

The Senate Banking Committee is scheduled to vote June 3 on legislation to renew the Terrorism Risk Insurance Act.

New Tennessee law requires full pension contributions by local governments

By: Rob Kozlowski, Pensions & Investments

Published May 30, 2014 - 11:49am CST

Tennessee Gov. Bill Haslam signed legislation on Wednesday that will require some local governments in the state to increase contributions to their pension funds.

GALLERY: 2014 Cyber Risk Summit

Published May 30, 2014 - 10:08am CST

View photos from Business Insurance's inaugural Cyber Risk Summit in Washington featuring keynote speaker Rep. Mike Rogers, R-Mich., chairman of the House Intelligence Committee.

Coalition grows for Mich. civil rights amendment to bar sexual orientation discrimination

By: Crain's Detroit Business

Published May 29, 2014 - 9:44am CST

Michigan's two largest chambers were to announce Thursday that they had joined the coalition working to amend state civil rights law to include sexual orientation and gender identity.

Illinois Senate bill would fully fund Cook County pension fund in 30 years

By: Rick Baert, Pensions & Investments

Published May 29, 2014 - 9:13am CST

Cook County Annuity & Benefit Fund, Chicago, would see its two public pension plans return to full funding in 30 years under a bill passed late Tuesday by the Illinois Senate.

Boeing 787 receives U.S. approval for extended operations

Published May 28, 2014 - 3:55pm CST

(Reuters) — The U.S. Federal Aviation Administration on Wednesday approved extended operations for Boeing's 787 Dreamliner, a move that will allow a wider range of routes and that marks a vote of confidence in the high-tech jet at a time of renewed scrutiny.

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