September, 2007
SHANGHAI, China (Reuters)?France's Schneider Electric lost a patent infringement lawsuit in China on Saturday and was ordered to pay 335 million yuan ($44.7 million) in damages , the official Xinhua news agency said. The suit was brought in the eastern city of Wenzhou by Chint Group, China's...
TRENTON, N.J.?A New Jersey federal judge on Friday threw out the remaining racketeering claims pending against several dozen insurers and brokers in a class action lawsuit stemming from industrywide investigations into bid-rigging and client-steering allegations. The decision, which follows a...
NEW YORK?Philip Moyles, executive vp of Marsh Inc., has been named chief executive officer of the Americas in a realignment of Marsh?s senior management following the departure earlier this month of former CEO Brian Storms. Mr. Moyles succeeds Timothy J. Mahoney, who will focus on leading Marsh?s...
COLUMBUS, Ohio?The Supreme Court of Ohio has reversed its 2006 decision denying workers compensation benefits to a former fast-food worker who broke safety rules and caused his own injury. In a divided 5-2 opinion, justices said the teenager, who was badly burned while cleaning a KFC pressure...
DETROIT (Reuters)?The United Auto Workers union's local leaders on Friday unanimously approved General Motors Corp.'s proposed four-year labor contract that includes a signing bonus, a new round of voluntary buyouts for workers and lower wages for some new hires. The approval follows a meeting in...
LONDON?Benfield Group Ltd.?s shares rose Friday after a news report claimed that the private equity arm of Goldman Sachs & Co. made an offer to purchase the reinsurance broker for around £700 million ($1.41 billion). U.K. newspaper the Daily Telegraph, citing unnamed sources, reported Friday that...
German corporate insurance buyers can expect industrial property and casualty rates to continue their decline at this year's renewals, according to members of Germany 's broker association. Rates in 2008 will decrease by about 15% to 20% in property lines and 10% to 15% in casualty lines, said...
LONDON? Marsh Ltd., the London-based unit of Marsh Inc., has announced the appointment of James Elder to the new position of chief risk officer. Mr. Elder joins the company from Zurich, Switzerland-based Credit Suisse Group where he was a director in bank operational risk oversight. He will...
ATLANTA?A judge has ordered Chubb Corp. unit Executive Risk Indemnity Inc. to pay $24 million to directors and officers liability policyholder AFC Enterprises Inc. over a claim related to AFC?s settlement of shareholder litigation. The unit of Warren, N.J.-based Chubb in 2004 sued AFC?owner of the...
Systematically identifying and treating employees? depression symptoms is likely to result in higher job retention, fewer sickness-related absences and increased worker productivity, a study has found. Harvard Medical School in Boston, Group Health Cooperative?s Center for Health Studies in...
