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28
06, 2016
QBE Weighs Brexit-Effect; Marsh Considers Some Brexit Scenarios
QBE Insurance Group announced this week that it will be reviewing its UK-based operations in light of last week’s vote in the UK to leave the European Union. “The referendum outcome may require a revised approach in relation to approximately …
28
06, 2016
Aetna’s Purchase of Humana OK’d by Illinois Insurance Regulator, with Condition
The Illinois Department of Insurance has approved Aetna Inc.’s proposed $34 billion acquisition of Humana Inc. provided it is approved by the U.S. Department of Justice, according to an order dated June 23 posted on the department’s website. Aetna announced …
29
06, 2016
Loeb’s Hedge Fund Lowers Fees for Third Point Re
Third Point Reinsurance Ltd. won lower fees on investments overseen by Dan Loeb’s Third Point LLC, the hedge fund manager that helped start the Bermuda-based reinsurer. Third Point Re will pay a 1.5 percent annualized fee in addition to as …
29
06, 2016
Audit Finds State Insurance Program Privatization Saved Louisiana $10M
Former Gov. Bobby Jindal’s privatization of claims processing and loss prevention services for Louisiana’s self-insurance program saved the state money, though less than projected, according to an audit released on June 27. The Jindal administration privatized the Office of Risk …
24
06, 2016
Oregon Teen Disfigured During School Trip to Costa Rica Sues For $20M
An Oregon teenager who was disfigured during a school trip in Costa Rica has filed a $20.8 million lawsuit against his former high school. The Oregonian/OregonLive reported that Joseph Christopher Johnson filed the suit earlier this week against Salem Academy, …
28
06, 2016
S&P and Fitch Chop Britain’s ‘AAA’ Rating After Brexit Vote
Britain suffered further blows to its economic standing on Monday as two top ratings agencies downgraded its sovereign credit score, judging last week’s vote to leave the European Union would hurt its economy. Standard & Poor’s stripped Britain of its …
29
06, 2016
China’s Fosun Looks at UK, Europe Investments on Brexit Volatility
Fosun Group, China’s biggest private conglomerate, will look for more opportunities in the United Kingdom and Europe in the volatile wake of Britain’s referendum vote to leave the European Union, the company’s billionaire co-founder and chairman said at a Reuters …
7
07, 2016
University of North Carolina Settles Football Hazing Case for $795K
The University of North Carolina has reached a settlement after a college football player said he suffered a concussion during an off-campus hazing incident. Citing a copy of the settlement it obtained June 21, the News & Observer of Raleigh …
28
06, 2016
AIR Worldwide Introduces Earthquake Model for India
Catastrophe risk modeler AIR Worldwide, a Verisk Analytics business, has released a new earthquake model for India that estimates losses to residential, commercial and small industrial buildings as well as automobiles. The model’s seismicity analysis covers areas with seismic activity …
28
06, 2016
Texas Workers’ Comp Discount, Interest Rate Set for Q3
The Texas Department of Insurance, Division of Workers’ Compensation has set the rate for any interest or discount provided for the third quarter of 2016 at 4.03 percent. This rate is computed by using the treasury constant maturity rate for …