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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.

U.S. industry gears up to fight Obama's climate rules

Published May 28, 2014 - 1:45pm CST

(Reuters) — This summer is likely to see a series of attacks by industry opponents of a U.S. plan to curb carbon emissions from power plants in a bid to stir voter anger ahead of elections in November, when voters in states such as Kentucky and West Virginia may determine whether Democrats keep control of the Senate.

Washington state’s workers comp medical network doubles since 2013

By: Stephanie Goldberg

Published May 22, 2014 - 3:36pm CST

A medical provider network developed by the Washington state Department of Labor & Industries for injured workers has more than doubled in size since it went live in 2013, the department said Wednesday.

Transportation safety board urges more battery tests for Boeing 787

Published May 22, 2014 - 2:06pm CST

(Reuters) — The U.S. agency that investigates air crashes on Thursday called for lithium-ion batteries on Boeing's 787 Dreamliners to undergo more testing to ensure they are safe.

U.S., state regulators struggle with cyber risk issues: Summit speakers

By: Judy Greenwald

Published May 22, 2014 - 1:31pm CST

WASHINGTON — Both federal and state regulators are struggling to address cyber risk issues, said speakers at the first Business Insurance Cyber Risk Summit in Washington on Thursday.

Bank of England's Carney says will hold insurance chiefs accountable

Published May 22, 2014 - 9:27am CST

(Reuters) — The Bank of England's governor has warned insurers they are under scrutiny by supervisors and he will hold top executives accountable in the same way that he has cracked down on Britain's bankers.

High drug costs could invite price caps, health care trade group warns

By: Paul Demko, Modern Healthcare

Published May 22, 2014 - 9:12am CST

The steep cost of Sovaldi — Gilead Sciences' $1,000-per-pill treatment for hepatitis C — is prompting wide-ranging discussions about the cost of drugs and whether the government should take more steps to regulate the cost of potentially life-saving treatments.

Captive insurer group decries NAIC's proposed accreditation changes

By: Rodd Zolkos

Published May 21, 2014 - 4:14pm CST

In formal comments to the National Association of Insurance Commissioners, the Captive Insurance Companies Association has said proposed revisions to the definition of “multistate reinsurer” in the NAIC’s standards for state accreditation are overly broad, imprecise and should not be adopted.

Virginia employers without workers comp face steep hike in fines

By: Stephanie Goldberg

Published May 16, 2014 - 2:00pm CST

Virginia soon will “significantly” increase its maximum penalty up to $50,000 for employers who don't provide employees — including subcontractors — with workers compensation insurance.

SAC's Steinberg gets 3-year sentence for insider trading

Published May 16, 2014 - 1:10pm CST

(Reuters) — Michael Steinberg, a portfolio manager at Steven A. Cohen's SAC Capital Advisors hedge fund, was sentenced on Friday to 3-1/2 years in prison for insider trading.

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