The United Kingdom Supreme Court has issued a ruling on a controversial case concerning asbestos in workplaces. The issue arose in 2008, when a number of people came forward to seek reparations after being diagnosed with mesothelioma, a type of lung cancer connected with inhaling asbestos and other fibrous materials. The country’s appeals courts struggled to determine whether liability lied with employers for exposing workers to dangerous conditions or if liability began when a victim started exhibiting symptoms of illness. Despite the conflict, the High Court ruled in 2008 that…
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Lloyd’s of London reports second largest loss from 2011’s insurance market swing
The insurance market of Lloyd’s of London LOL.UL has reported that it experienced its second largest losses in 2011, following the absorption of record breaking claim costs resulting from the natural catastrophes that included the earthquake and tsunami in Japan, as well as the flooding in Thailand. This statement was made on March 28, as it compared its last year’s loss of £516 million with the profit that it made in 2010, of £2.2 billion. The reported loss included the combined financial performance of the eighty insurance syndicate competitors which…
Read MoreThird day of litigation of Affordable Care Act still focused on insurance mandate, Justices touch briefly on Medicaid expansion
The third day of arguments concerning the Affordable Care Act took place on Wednesday this week. Though the schedule laid out by the Supreme Court earlier this month indicated that the third day of litigation would concern the health care law’s changes to Medicaid and Medicare, the Court’s Justices were keen to keep their attention on the law’s health insurance mandate. Justices are no longer focusing on the constitutionality of the mandate; however, they are now seeking an answer to a simple question: Can the health care law survive if…
Read MoreTotal SA natural gas leak births insurance nightmare as the industry tackles yet another man-made environmental disaster
Trouble is brewing in the North Sea where a major natural gas leak is causing problems for Total SA, a multinational oil company. The leak began at one of the companies abandoned platforms, dubbed the “well of hell” by environmentalists. Total is claiming that it will take at least six months to shut off the flow of natural gas due to high pressures within the reservoir beneath the platform. The company now faces serious backlash from the insurance industry for being at the heart of yet another man-made environmental disaster.…
Read MoreDay two of Affordable Care Act hearing in Supreme Court focuses on controversial insurance mandate
The Supreme Court began its second day of hearing the case against the controversial Affordable Care Act on Tuesday this week. The focus of day two was centered on whether Congress could require Americans to purchase health insurance. The Obama administration’s top lawyers were ready to defend the insurance mandate imposed by the health care law, but conservative Justices of the Court were quick to issue their concerns regarding the matter. This could signal some serious problems for the future of the Affordable Care Act. Only three minutes into the…
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