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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.

SEC to award executive whistleblower up to $575,000

By: Judy Greenwald

Published March 05, 2015 - 2:10pm CST

The SEC said it plans to award a former company officer between $475,000 and $575,000 as a whistleblower.

FAA wants to speed approval process for commercial drones

Published March 03, 2015 - 2:49pm CST

(Reuters) — The FAA is seeking ways to speed up the approval process for commercial drone operations, but its efforts have been hindered by its lack of authority to review multiple applications on a group basis.

SEC probes companies' treatment of whistleblowers

Published February 26, 2015 - 10:37am CST

(Reuters) - The U.S. Securities and Exchange Commission has sent letters to several companies asking for years of nondisclosure agreements, employment contracts and other documents to investigate whether companies are muzzling corporate whistleblowers, the Wall Street Journal reported.

Murdered prison guard’s family backs exclusive remedy reforms

By: Stephanie Goldberg

Published February 25, 2015 - 2:25pm CST

The family of a Nebraska detention center guard who was killed by an inmate is speaking out in support of a bill that would waive exclusive remedy in the case of “willful negligence” by an employer.

Canada to require more oil/rail insurance, special fund

Published February 20, 2015 - 11:22am CST

(Reuters) — Canada will boost the minimum insurance railways will have to carry when they haul crude oil, and an additional fund will be set up with levies on oil shipments to cover major disasters, under legislation to be introduced on Friday, two sources familiar with the bill said.

Special HealthCare.gov enrollment targets those facing tax penalties

By: Virgil Dickson, Modern Healthcare

Published February 20, 2015 - 10:06am CST

A special enrollment period will begin March 15 and end April 30 to help consumers avoid tax penalties for not obtaining health insurance coverage this year, Andrew Slavitt, principal deputy administrator at CMS, said during a news briefing Friday.

Farmers disappointed by restrictions in proposed drone rules

Published February 18, 2015 - 2:03pm CST

(Reuters) — U.S. farmers hoping to use drones to locate lost livestock or monitor trouble spots in their fields were disappointed by what they say are overly restrictive commercial drone rules proposed by the Federal Aviation Administration.

IRS to seek input on multiemployer suspensions

By: Hazel Bradford, Pensions & Investments

Published February 17, 2015 - 11:56am CST

The IRS will seek public input on how to handle benefit reductions now allowed for troubled multiemployer pension funds.

U.S. balks at China's new cyber rules

Published February 12, 2015 - 3:37pm CST

(Reuters) — The Obama administration sees planned new cyber security rules in China as a “major barrier” to trade and has raised concerns with Beijing at the highest level, a senior U.S. official said on Thursday.

Cyber security a game-changer on Capitol Hill?

By: Mark A. Hofmann

Published February 11, 2015 - 3:05pm CST

WASHINGTON — The day after the Obama administration announced the formation of a U.S. cyber security agency, a senior lawmaker said cyber security is one of the issues that holds the potential for bipartisan cooperation on Capitol Hill.

GOP reform plan rolls back Cadillac tax to woo conservatives

By: Paul Demko, Modern Healthcare

Published February 10, 2015 - 11:09am CST

Congressional Republican leaders are hoping to rally their colleagues behind a new repeal-and-replace package for the Patient Protection and Affordable Care Act.

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