Overseas Hackers Suspected in Target Breach; Stolen Data Reported Selling Online December 24, 2013 By Dhanya Skariachan and Mark Hosenball Investigators believe that overseas hackers were responsible for the cyber attack on U.S. retailer Target Corp. that compromised up to...
Sedgwick Claims Management Could Fetch $2 Billion: Reuters December 24, 2013 By Greg Roumeliotis, Jessica Toonkel and Soyoung Kim Private equity-owned Sedgwick Claims Management Services Inc, one of the largest U.S. providers of claims services, is exploring a sale...
Massachusetts Pharmacy to Pay $100M to Victims of Meningitis Outbreak December 24, 2013 By Jonathan Stempel Owners and insurers of a now-bankrupt Massachusetts pharmacy linked to a deadly meningitis outbreak have agreed to pay more than...
What EEOC Reports It Accomplished in FY 2013 December 24, 2013 The U.S. Equal Employment Opportunity Commission (EEOC) reported it obtained a record $372.1 million in monetary relief for victims of...
Allstate Reports Q4 Pension Settlement Charge of $100-125M December 24, 2013 The Allstate Corp. reported that it expects to report a fourth-quarter 2013 settlement charge of $100 to $125 million, after-tax,...
White House Rebranding Obamacare for ‘Young Invincibles’ December 24, 2013 By Caren Bohan Last summer, White House officials planning a nationwide push to urge young adults to enroll in new health insurance plans...
Best Affirms Cincinnati Financial and Subs Ratings; Outlook Stable December 24, 2013 A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-”...
P/C Insurers Boost Bottom Line on Big Gain in Underwriting Through 9 Months December 23, 2013 Private U.S. property/casualty insurers’ net income after taxes rose to $43 billion in nine-months 2013 from $27.8 billion in nine-months...
Federal Reserve Allows Ally Financial to Keep Insurance Unit December 23, 2013 By Dakin Campbell Ally Financial Inc., the auto lender majority owned by the U.S. government, won regulatory approval to change its holding-company status,...
Judge Rejects Catholic Church Challenge to Obamacare Birth Control Coverage December 23, 2013 By Andrew Zajac and Joel Rosenblatt The Catholic Church isn’t harmed by the U.S. Affordable Care Act’s requirement for providing employees with insurance coverage for contraceptives,...