Archive for May, 2010
Voluntary OSHA program at crossroads
WASHINGTON—An initiative by the Occupational Safety and Health Administration that encourages employers to establish health and safety programs could fall victim to the federal agency’s emphasis on enforcement, say backers of legislation introduced…
Iran sanction bill delayed as U.N. negotiations continue
WASHINGTON—Federal lawmakers last week delayed a plan to finalize legislation to toughen sanctions against companies—including insurers—that conduct business involving Iran, Democratic leaders said Tuesday.
Demonstrations in Thai capital leave more than $1B in damage
BANGKOK—Recent anti-government demonstrations left considerable damage to commercial properties in Bangkok, but companies without terrorism coverage may be unable to tap insurance for their property losses.
BP spill response tars reputation
VENICE, La.—As BP P.L.C. claimed some success last week in its efforts to permanently plug a well spewing oil into the Gulf of Mexico, its wider crisis management strategy continues to be regarded as a failure.
High court lowers bar on discrimination suits
WASHINGTON—The U.S. Supreme Court’s unanimous decision permitting a discrimination case by black Chicago firefighter applicants to proceed could lead to more claims and larger awards against employers, many observers say.
Bermuda market expected to see more M&As
Mergers and acquisitions are expected to rise in the Bermuda insurance market this year due to numerous factors, many observers say.
Complaint says employment aptitude test was invalid
WASHINGTON—The focus of the U.S. Supreme Court’s decision last week in Arthur L. Lewis Jr. et al. vs. City of Chicago was a 1995 written test of more than 26,000 Chicago Fire Department applicants.
Fewer employers offer new workers DB plans
The number of large U.S. employers that offer a defined benefit pension plan to new salaried employees continues to decline while the number offering only defined contribution plans continues to increase, according to a study released last week.
Broker groups sue over pay disclosure
ALBANY, N.Y.—The Independent Insurance Agents & Brokers of New York Inc. and the Council of Insurance Brokers of Greater New York are seeking to annul New York state’s insurance producer compensation disclosure regulation set to go into effect Jan.
Panel hears conflicting views on AIG
WASHINGTON—A congressionally created body that monitors the use of federal financial aid to troubled U.S. companies will weigh conflicting outlooks on the future of American International Group Inc.