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What Government Shutdown Means for P/C Insurance Industry
The property/casualty insurance industry is not immune to any economic effects the government shutdown may bring but since the industry is largely regulated by the states, not Washington, the impact on the industry of federal workers not going to work …

POSTED JANUARY 22, 2018 3:34 PM
Man Charged with Generator Fraud in Connecticut after Superstorm Sandy
An Oregon man has been charged with stealing deposits Connecticut homeowners had made for generators after Superstorm Sandy. The Stamford Advocate reports that 56-year-old John Mech, of Seaside, Oregon, took a $7,500 deposit from a Stamford, Conn., homeowner for a …

POSTED JANUARY 22, 2018 1:45 PM
Pennsylvania’s Altman Named to Leadership Position on Health Insurance with NAIC
Acting Pennsylvania Insurance Commissioner Jessica Altman will serve as vice chair of the Health Insurance and Managed Care Committee of the National Association of Insurance Commissioners (NAIC), the organization reported in announcing its leadership for 2018. “I am pleased with …

POSTED JANUARY 22, 2018 1:40 PM
Delaware Sues Opioid Manufacturers, Distributors Over Epidemic
Delaware on Friday became the latest state to file a lawsuit accusing corporations of helping fuel the national opioid epidemic, suing a wide range of companies involved in making, distributing and selling prescription painkillers. The lawsuit, filed by Delaware Attorney …

POSTED JANUARY 22, 2018 1:24 PM
AIG to Acquire Bermuda Reinsurer Validus for $5.56B in Cash
American International Group Inc., emerging from years of retrenching after its near demise in the financial crisis, agreed to buy Bermuda reinsurer Validus Holdings Ltd. for about $5.56 billion in cash. Validus stakeholders will get $68 a share, the companies …

POSTED JANUARY 22, 2018 1:08 PM
London Market’s Priorities in 2018 Are Regulation, Brexit, Modernization: IUA
Regulatory developments, such as the EU’s new data protection law, will dominate priorities for the London company insurance market in 2018, according to the International Underwriting Association in its annual business plan. While preparations for Brexit will continue to require …

POSTED JANUARY 22, 2018 12:53 PM
Companies Across Globe Race to Comply with EU’s Data Protection Law
Business is booming for software and privacy experts as companies across the globe spend millions of dollars to comply with a landmark European data protection law, even as many uncertainties remain about how the rules will be enforced. The General …

POSTED JANUARY 22, 2018 12:07 PM
Cyber Attacks on U.S. Power Grids Can Be Deterred With Password Changes
A key to preventing cyber attacks from crippling U.S. power grids could be changing passwords on internet routers, wifi-connected thermostats and smart lawn-sprinklers. “A significant share” of internet attacks result from unchanged factory default passwords on web-connected devices that allow …

POSTED JANUARY 22, 2018 12:00 PM
Global Companies Find Economic Opportunities in UN Sustainable Development Goals
Many companies are looking past quarterly results to discover long-term economic opportunities in U.N. goals to end poverty and protect the planet, the head of an international business commission has said. Mark Malloch-Brown’s Business and Sustainable Development Commission has contacted …

POSTED JANUARY 22, 2018 11:36 AM
McDonald’s, U.S. Labor Board Begin Talks to Settle ‘Joint Employment’ Trial
McDonald’s Corp and a U.S. labor board are in talks to settle a case claiming the fast food company is liable for purported labor law violations by its franchisees, leading a judge on Friday to pause a trial that began …

POSTED JANUARY 22, 2018 11:16 AM

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