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Tag Archives: business insurance agents news

QBE Insurance settles shareholder class action

Sydney-based QBE insurance Group Ltd. has agreed to pay AU$132.5 million ($103.5 million) to settle class action litigation filed in September 2015 on behalf of shareholders who had bought QBE securities between Aug. 20, 2013, and Dec. 6, 2013. The settlement is without any admission of liability by QBE, the …

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Bechtel wins asbestos ruling | Business Insurance

A divided Florida state appeals court ruled in favor of Bechtel Corp. in an asbestos liability case, reversing a lower court decision that Bechtel’s failure to contact former employees as potential witnesses could be inferred in a negative light by a jury. Richard Batchelor, who worked at Juno Beach, Florida-based …

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Pennsylvania OKs 6.06% hike in workers comp premiums

Jessica Altman, Pennsylvania’s acting Insurance Commissioner, has approved a 6.06% increase in workers compensation premiums. The Pennsylvania Insurance Department reviewed a proposal from the Pennsylvania Compensation Rating Bureau and found it appropriate following a June state Supreme Court ruling that barred impairment rating evaluations, according to a PID spokesman. The …

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New York seeks public comments on drug formulary

The New York State Workers Compensation Board is seeking public comments on a proposed drug formulary that limits new opioid prescription to seven days for injured workers. The regulations propose that refills for opioids be subject to prior authorization in line with formularies in states such as California and Texas. …

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Burger King Croissan’wich coupon suit settled

A court has ordered Burger King to provide refunds to those who ordered a Croissan’wich with a coupon during its promotion from 2015 to 2017 after a class-action suit found the fast-food chain duped customers into thinking they were getting a buy-one-get-one-free deal on a sandwich with an inflated pricetag, …

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Robert Cartwright Jr. leads RIMS in 2018

Robert Cartwright Jr. Robert Cartwright Jr. assumed the presidency of the Risk & Insurance Management Society Inc., effective Monday. Mr. Cartwright, Exton, Pennsylvania-based safety and health manager of Bridgestone Retail Operations L.L.C., succeeds Nowell Seaman, director of global risk management for Potash Corp. of Saskatchewan Inc., as president. Mr. Cartwright served …

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Med mal insurance captive moving to Vermont

The University of Vermont Health Network will move its captive to Vermont from Bermuda. The network’s Board of Directors unanimously approved the move of VMC Indemnity Co. Ltd., a captive that provides medical malpractice insurance coverage, according to a statement by the six-hospital system issued Friday. “We had an analysis …

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