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November 13, 2012

  Risk, Insurance, Claims & Safety 
  • Terrorism insurance backstop must be extended, experts say
    The Terrorism Risk Insurance Act will lapse if not extended by the end of 2014, which would threaten market stability, experts said. Previously, Congress has decided within a month of TRIA's expiration date to approve extensions, said Aaron Davis of Aon Risk Solutions. "We continue to advise our insurance and reinsurance clients to advocate for an early and long-term resolution to extending this key catastrophic-risk backstop," Davis said. National Underwriter Property & Casualty (11/12) LinkedInFacebookTwitterEmail this Story
  • Sandy prompts concerns about cities' waterfront development
    The damage that Hurricane Sandy and its remnants caused to low-lying areas on the East Coast has prompted officials, planners and developers to look at implementing tougher building codes and other changes to ensure safety for waterfront development. While few experts oppose development along bays and oceans, costs of waterfront development are expected to increase amid changes made by insurers, regulators and builders. "We need to make sure this is part of our long-term planning," said Brian Swett, Boston's top environmental official. The Wall Street Journal (11/8) LinkedInFacebookTwitterEmail this Story
  • NYC considers idea of storm barriers to fight flooding
    New York City officials are facing the question of whether to construct a barrier system to protect the city from storm surge. Mayor Michael Bloomberg has said he is skeptical of such a proposal, and Army Corps of Engineers spokesman Chris Gardner says many factors should be considered before adding barriers. Jeroen Aerts of the University of Amsterdam, who studied the city's flood risks, said the city might need $10 billion to $17 billion for a barrier system and an additional $10 billion to $12 billion for reinforcing the areas around barriers. The New York Times (tiered subscription model)/Green blog (11/6) LinkedInFacebookTwitterEmail this Story
  Workplace & Retirement 
  • Study cites reasons for higher employee health care spending
    A study in Health Affairs says employees with depression spent 48% more on health care than those who were not depressed. Health care spending also was higher for workers with high blood pressure or blood glucose or those who were physically inactive, smoked or were obese. Emory University researchers said well-designed and implemented follow-up health programs are needed to change employee behaviors and reduce health risks. MedPage Today (free registration) (11/6) LinkedInFacebookTwitterEmail this Story
  • Consistency is key to overcoming bias claims
    A Texas Department of Criminal Justice employee sued for racial discrimination after being fired, saying she was treated unfairly. She argued that she was asked to provide a doctor's note for all absences after it was believed she was abusing sick leave, but because the employer could show that the same policy was applied to others consistently regardless of race, the court dismissed her case. BusinessManagementDaily.com (11/7) LinkedInFacebookTwitterEmail this Story
  Higher Education 
  • Police chief at Ill. university is placed on paid leave
    Northern Illinois University Police Chief Donald Grady is on paid leave in light of misconduct allegations against his department, school officials said. A judge found that Grady's department withheld evidence that may have cleared an officer accused of sexual assault on a student. Police sergeants said they support Grady, who is awaiting final disciplinary action. Chicago Tribune (tiered subscription model) (11/10) LinkedInFacebookTwitterEmail this Story
  • College foundation director resigns amid questions over perks
    The executive director of the Los Angeles Trade Technical College foundation resigned after being on paid leave for 10 months following questions about bonuses and perks. An audit raised questions of whether the college president's signature may have been forged on checks written to executive director Rhea Chung that included a $22,000 annual bonus, according to this article. The audit made no accusations regarding any potential forged checks. Los Angeles Times (tiered subscription model) (11/6) LinkedInFacebookTwitterEmail this Story
  Leadership & Management 
  News From Aon 
  • Health Care Exchanges 101
    Aon Hewitt's Ken Sperling appeared on CNBC's "Street Signs" on Oct. 5, 2012, to discuss health care exchanges and what they mean for employees. Watch the video. LinkedInFacebookTwitterEmail this Story
  SmartQuote 
I observe the physician with the same diligence as the disease."
--John Donne,
British poet, satirist, lawyer and cleric


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