National News

Lockton: Companies Overlooking Most Crucial Part of Kidnap & Ransom Insurance

The ransom and extortion industry’s danger zone has expanded well beyond Central and South America, yet companies tend to downplay the importance of a kidnap & ransom insurance policy, according to a new report by Lockton. The report, authored by …

Schwab Temporarily Drops Client Class Action Waiver

Charles Schwab Corp. has temporarily reversed its requirement that clients waive their right to bring class-action lawsuits, adding a new twist in a battle closely watched by the securities industry and plaintiffs’ attorneys. “Effective immediately, Schwab is modifying its account …

Obama Administration Releases Proposed Fracking Regulations

The Obama administration on Thursday unveiled a new proposal for regulating hydraulic fracturing on federal lands, rolling back some measures from its original, abandoned draft as it sought to ease concerns the rules would be too burdensome for producers. The …

S&P Cuts Rating on Buffett’s Berkshire Holding Company But Not Insurance Units

Warren Buffett’s Berkshire Hathaway Inc. had its credit rating cut one notch by Standard & Poor’s, which cited a new methodology for evaluating insurers and Berkshire’s dependence on its insurance business for dividend income. The rating was cut to “AA” …

BP Oil Spill Claims Chief Braces for Surge in Filings

The deadline for claims against BP Plc in connection with the 2010 Gulf of Mexico oil spill is 11 months away, but the man responsible for paying the claims said on Thursday he is already bracing for a late surge …

Workers’ Comp Sees Encouraging Signs in 2012 Results: NCCI

The workers’ compensation market is seeing encouraging signs. Premiums grew for the second consecutive year, the combined ratio declined and claim frequency continued to improve at a pace slightly greater than its long-term historic rate of decline. In 2012, the …

House Farm Bill Expands Crop Insurance, Cuts Food Stamps

A Republican-controlled panel in the U.S. House of Representatives on Wednesday approved the biggest cuts in food stamps for the poor in a generation and a potentially expensive expansion of federally subsidized crop insurance. The House Agriculture Committee approved a …

Senate to Hold Vote on Consumer Agency Director Next Week

U.S. Senate Democratic leaders plan to hold a vote next week on President Barack Obama’s choice to lead the Consumer Financial Protection Bureau, a Senate Democratic aide said on Wednesday, but they are not expected to muster enough votes to …

Will Supreme Court Enter Climate Change Debate?

With a barrage of legal briefs, a coalition of business groups and Republican-leaning states are taking their fight against Obama administration climate change regulations to the U.S. Supreme Court. The U.S. Chamber of Commerce and other industry groups, along with …

Liberty International Launches Marine Business Owner Policy

Liberty International Underwriters (LIU), part of the Global Specialty unit of Liberty Mutual Insurance, has launched a new policy designed to cover marine liability and property related risks for small and mid-size marine businesses owners and operators. The new policy, …

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