National News

GM’s Victim Compensation Plan a Corporate Settlement Mill?

Earlier this year, General Motors Co. hired Kenneth Feinberg, a victim compensation expert, to oversee payment to those injured in crashes caused by faulty ignition switches in GM cars. GM says it’s trying to do the right thing by making …

Mitchell International Improves Workers’ Comp Bill Review With Latest Product

Mitchell International, a provider of technology, connectivity and information solutions to the property & casualty claims and collision repair industries, announced the SmartGuidelines tool, the latest component of the Mitchell SmartAdvisor bill review software. The SmartGuidelines feature provides an integrated …

Feds Back Train Speed Limits and Tougher Rail Tank Cars

The Obama administration plans to propose train speed limits and studier rail tank cars as part of a set of new rules designed to reduce the risks of hauling crude oil, two people familiar with the plan said. The draft …

Safety Problems an Issue at Federal Public Health Labs

The director of the U.S. Centers for Disease Control and Prevention acknowledged Wednesday that systemic safety problems have for years plagued federal public health laboratories that handle dangerous germs such as anthrax and bird flu. Testifying at a congressional hearing …

Aon Reports 2014 Disaster Losses About 50% Than 10 Year Average

Insured losses from global natural disasters during the six-month period ending June 30, 2014 reached $22 billion. That compares to $27 billion in the first half of 2013 and is approximately 19 percent below the 10-year average of $27 billion, …

Consumer Class Action Settlements More Than Doubled from 2010 to 2013

Consumer class action settlements have steadily increased over the past four years, according to a new study released by NERA Economic Consulting, a global provider of independent economic advice and analysis in business, legal, and regulatory matters. Consumer Class Action …

ACE Releases Advisory on Managing Real Estate Liability Risks

A new advisory examining core risk management concerns for commercial real estate property owners and managers was released by ACE Group last week. The advisory, “Managing Real Estate Liability Risks in a Changed Market,” authored by Joseph Fobert, senior vice …

Court Orders Travelers to Pay Over $500M in Asbestos Case

A federal appeals court ordered Travelers Cos Inc to pay more than $500 million to thousands of asbestos victims in a case stemming from the insurer’s coverage of Johns-Manville Corp, an insulation maker that spent six years in bankruptcy during …

Catastrophe Costs Cause Travelers Profit to Fall 26% to $683M

Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said second-quarter profit fell 26 percent on catastrophe costs. Net income declined to $683 million, or $1.95 a share, from $925 million, or $2.41, a year earlier, the …

After Berkshire Accord Liberty Mutual Sells $750M Bond

Liberty Mutual Group Inc. issued $750 million of bonds to help finance a payment to a unit of Warren Buffett’s Berkshire Hathaway Inc. for covering the insurance company’s liabilities tied to asbestos. The 4.85 percent, 30-year notes were sold to …

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