National News

10 More Facts on How Employee Substance Misuse Impacts Businesses

More than 70 percent  of U.S. employers are feeling the direct impact of prescription drug misuse in their workplaces, according to a recent survey by the National Safety Council. The survey also found that although 71 percent of employers agree that prescription …

Supreme Court OK with Delay in Bringing Patent Infringement Suits

A U.S. Supreme Court ruling on Tuesday in a lawsuit over adult diapers will make it more difficult for companies accused of patent infringement to shoot down lawsuits because the plaintiffs waited too long to bring them. In a 7-1 decision, the justices …

From Fiduciary Rule to Overtime: What to Expect from Trump Labor Nominee Acosta

By the time President Donald Trump’s first nominee for labor secretary withdrew from consideration, there was little doubt where he stood on the big issues facing the department. In contrast, his replacement, Alexander Acosta, heads into his hearing Wednesday with …

Thunderstorms Just as Costly to Insurers as Hurricanes: Study

Risk to U.S. property from thunderstorms is as high as from hurricanes, according to new research finding that for the past decade, severe convective storms have been the largest annual aggregated risk peril to the U.S. insurance industry. The average annual …

How Medical Liability Insurers’ $30 Billion ‘Cushion’ Is Also Barrier to Profit

For all the changes in healthcare over the past 10 years, the principal challenges facing medical professional liability (MPL) insurance remain much the same as they have been since its crisis in the mid-2000s: a high level of capital with …

Aon Gains Upper Hand in Non-Compete and Poaching Lawsuit vs. Alliant

A legal battle between two insurance brokerages over whether a former employee violated non-compete agreements and poached numerous employees is not over yet but the brokerage bringing the charges has scored key early victories. The lawsuit brought by U.K.-based Aon …

CFC Underwriting Launches Cyber Incident Response App

Specialist lines underwriting agency, CFC Underwriting, has launched a cyber incident response application that will allow policyholders to notify a claim with a click of a button and receive specialist support from CFC’s global cyber incident response team. In addition, …

Departing AIG CEO Gets No Bonus But Will Get $5 Million to Stay Until Successor Arrives

Peter Hancock is getting $5 million in cash to stay on as American International Group’s chief executive officer while the board searches for his replacement. But the insurer’s departing president and CEO will forgo his bonus, according to recent regulatory …

XL Catlin Names Fischbach to Key Excess & Surplus Insurance Post

XL Catlin has appointed Karl Fischbach as head of Binding Authority and Brokerage for its excess and surplus insurance operation.  In his newly added role, Fischbach will focus on aligning XL Catlin’s E&S underwriting and products with its distribution strategies, …

Berkshire Hathaway Employee Wins $100K in March Madness Contest

Berkshire Hathaway Inc. said that a Berkshire factory worker from West Virginia was the winner of its 2017 Bracket Contest. The contest winner will be receiving the winning prize of $100,000 as a result of correctly picking the winners of the first …

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