- Catastrophes tear into property/casualty insurer profits
U.S. property/casualty insurers’ net income during the first quarter of 2016 dropped 24% from that of the corresponding period in 2015 to $18.0 billion, according to a report released Wednesday by A.M. Best Co. Inc.
- Employee benefits business finds new home with CBIZ
CBIZ Inc. has acquired the assets related to the employee benefits consulting business of Ed Jacobs & Associates Inc.
- Berkshire Hathaway enters Australian accident and health market
Berkshire Hathaway Specialty Insurance Co. has launched accident and health insurance products in Australia.
- New breed of hedge fund reinsurers could learn from traditional model
Hedge fund reinsurers need to establish prudent risk controls if they want to succeed in the current economic environment, Standard & Poor’s Corp. said in a study released Wednesday.
- Lawmakers urge court to add sexual orientation as protected class
Congressional Democrats say the Civil Rights Act of 1964 should prohibit discrimination based on sexual orientation.
- Retirement plan sponsors fret over investment woes, compliance
Investment volatility, benefit costs and regulatory compliance issues are the top concerns of retirement plan sponsors, according to a Willis Towers Watson P.L.C. survey released Wednesday.
- Railway company settles racial discrimination claims
Norfolk Southern Corp. has agreed to pay $492,000 in back pay and interest to 2,086 African-Americans who allegedly were denied equal employment opportunities at the railroad in a conciliation agreement with the U.S.
- Court rulings prompt NCCI to seek 19.6% comp rate hike
NCCI has proposed a nearly 20% comp rate increase in Florida to cover the projected impact of recent state Supreme Court rulings.
- Political shockwaves hit pension plan funding
Hit by a fall in the equities market after the United Kingdom voted to exit the European Union, along with lower interest rates boosting the value of plan liabilities, the funded status of pension plans sponsored by large employers fell in June, Mercer L.