The approaching hurricane may not end up being very costly for insurers, but it has put the industry on alert for a possible active storm season in the North Atlantic.
Advisen's 21-page report, The Threat of Wage-and-Hour Lawsuits, is essential reading for risk managers and human resource officers. It also is of interest to brokers and underwriters grappling with the insurability of this rapidly expanding exposure. The report examines the drivers of these suits, and explores recent developments in wage-and-hour litigation. Additionally, it includes a survey of insurers that provide coverage that may respond to these suits. This report is currently on sale at 25% off the standard price of $499m or $376. Purchase the report at The Advisen Corner Store.
Reinsurance company earnings may come under pressure in the next one or two years as increased competition in the sector drives down the amount they can charge their insurance company clients for cover, and as weaker financial markets make it harder for them to boost investment returns, ratings agency Fitch Ratings said Wednesday.
TOKYO -- Munich Re, the world's largest reinsurer, is bolstering its presence in Japan despite a slowing economy and an aging and dwindling population, even as opportunities beckon in the faster-growing economies of Asia.
PRINCETON, N.J. -- Payments processor Heartland Payment Systems Inc. on Wednesday said it will pay $5 million to Discover Financial Services Co. to resolve issues between the companies related to a 2008 data breach.
Sept. 01--Pharmaceutical manufacturer Allergan has reached a $600 million settlement with federal prosecutors in Atlanta and agreed to plead guilty for its off-label promotion of Botox. Under the agreement, Allergan will pay a criminal fine and forfeiture totaling $375 million and pay a civil settlement of $225 million.
Two law firms have dropped a dispute about expenses in long-running litigation over respiratory diseases and other injuries suffered as a result of rescue and debris-removal operations following the Sept. 11, 2001, terrorist attack in New York. The dispute was over so-called "common benefit costs," which would have reduced the amount of lawyers fees in the case.
Sept. 01--A Bellevue woman has filed a lawsuit against American Airlines over what she says was a terrifying flight to New York on Sept. 22, 2008, when the airplane flew on battery power until it had to make an emergency landing in Chicago. "It changed my whole world," said Jewel Thomas, 55, who had been a frequent traveler but hasn't been able to get back on an airplane in nearly two years.
Originally published in Corporate Counsel, August 2010. MANY BUSINESSES HAVE ALREADY been adversely affected by the massive oil slick in the Gulf of Mexico, and many more will be soon as the contamination intensifies and spreads. Business Interruption Coverage. Most property insurance policies pay for losses of business income resulting from damage to covered property.
The U.S. Securities and Exchange Commission, which has now closed its period of public comment on a universal fiduciary standard for broker-dealers, received a lengthy letter of opposition from the largest group of independent U.S. insurance agents.
FRANKLIN, Ind. The lawsuit filed by the husband of 32-year-old Lori Keen is pending in federal court in Indianapolis. Keen was fatally injured March 15 when a 4,100-pound pallet of bottled water fell on her in the warehouse of a Kroger store in Franklin. Nestle Waters spokeswoman Jane Lazgin said Wednesday the company was still reviewing the circumstances of the accident.
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(wap) (ATTN: Health editors)
//Even With Insurance, Risk of Being Sued Leads to Extra Tests That May Cost Billions//
By Manoj Jain, Special to The Washington Post
ASTORIA, Ore. In 2009, the Oregon State Legislature passed Senate Bill 311, which raised the liability lawsuit cap for claims against against state agencies from $500,000 to $3.2 million. "The stakes are higher," said David Solomon, safety-risk manager & sustainability coordinator for Oregon State Parks and Recreation.
WATERBURY, Conn. Rose Marie Deschesnes, now 24, crashed into a metal bench at the bottom of a hill near a ball field while snow tubing at Fulton Park. She filed a lawsuit last year alleging the city should never have put a bench at the base of such a popular sledding spot and failed to take safety precautions.
Aquiline Capital Partners LLC has led a $225 million investment in independent broker-dealer CRT Capital Group, seeking to capture market share while big firms face challenges. Aquiline--a financial services-focused private-equity firm started by Jeff Greenberg, son of former American International Group Inc. chief Hank Greenberg--has taken a majority stake in Stamford, Conn.-based CRT.
REIMS, France -- Deep below a lush landscape of ripening Champagne grapes, Thierry Gasco, the master vintner for Pommery, ran his finger over the shoulders of a dark green bottle that looked just like the thousands of others reposing in his chilly subterranean cellars. But to the practiced hand and eye, there is a subtle, if potentially significant, difference.
Fall 2010 Programs / St. John's CPE Manhattan
