National News

Investors Suing Bank of America Win Class-Action Status

Investors suing Bank of America Corp. won class-action status for their lawsuit accusing the bank of fraudulently misleading them about the 2008 takeover of Merrill Lynch & Co. and the size of Merrill’s losses and bonus payouts. U.S. District Judge …

Accident Fund Holdings Launches Narcotics Program for Injured Workers

Accident Fund Holdings has created a comprehensive narcotics program to help reduce the health risk of drugs on injured workers and provide a mechanism for them to get back to work sooner. The primary components of the program include early …

Nationwide Adds Software Protection to Identity Theft Insurance

Nationwide Insurance has extended its ID theft insurance coverage by providing help with protecting personal information on home computers. The carrier’s newest product includes free access to software that helps thwart criminals from stealing information, even if they have virtual access to …

Ironshore Specialty Casualty Introduces Program for Firearm Risks

Ironshore Inc. has announced that its Specialty Casualty unit will provide casualty coverages for Cochrane and Company’s new Ammunition and Rifle Manufacturing Specialist Program. Additional coverage enhancements will be available to address the needs of firearm manufacturers and importers, retailers/dealers, …

Aon Revenues Up 3% in Q4

Global insurance broker and risk management firm Aon Corp. reported that net income rose 19 percent in the fourth quarter 2011 to $277 million and overall revenues increased 3 percent to $3 billion. Fourth quarter operating income decreased 8 percent …

P/C Insurers’ Combined Ratio for 2011 Estimated at 107.5%

The U.S. property/casualty (P/C) industry reported its largest underwriting loss since 2006 and saw its operating performance deteriorate sharply in 2011, as catastrophe-related losses throughout the year wreaked havoc. Insurers were affected by an unprecedented number of natural catastrophe events …

Carlyle Group Drops Controversial Arbitration Requirement for Shareholders

Carlyle Group LP, a giant private equity firm that has filed for an initial public offering, has dropped a controversial effort to require its future shareholders to resolve claims through arbitration rather than in court. The Washington, D.C.-based firm, with …

Mine Safety Chief Seeks to End Complacency Over Safety

If there’s one lasting cultural change Mine Safety and Health Administration Director Joe Main wants to make in both the federal agency and the industry it regulates, it’s ending the cycle of intensity and complacency. After every high-profile disaster, regulators …

Whistleblower Law Does Not Protect Mutual Fund Employees: Court

A U.S. law protecting whistleblowers at publicly traded companies does not cover employees of mutual funds, a federal appeals court ruled on Friday in a case involving two former Fidelity Investments employees. The U.S. Court of Appeals for the 1st …

Judge Certifies Investor Class Action Against Goldman Sachs

Goldman Sachs Group Inc. was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender. U.S. District Judge Harold …

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