CAMBRIDGE, Mass.—Virginia's workers compensation system has higher medical costs than many states, but low claim frequency has kept down insurance premiums and average claim costs, according to the Workers Compensation Research Institute.

NEW YORK—A federal judge on Friday approved a $725 million settlement of a securities class action lawsuit that the state of Ohio brought against American International Group Inc.

Batman might be able to protect Gotham City all on his own, but he needed the help of a federal judge to protect the copyright to his famous ride.

DENVER—A plan to privatize Pinnacol Assurance has stalled following questions about the proposal from the insurer's stakeholders, including employers.

HARRISBURG, Pa.—Pennsylvania employers will see a workers compensation rate decrease averaging 5.7% for 2012, the state’s Insurance Department said.

RICHMOND, Va.—The Virginia Supreme Court has agreed to rehear a climate change suit after previously upholding a lower court ruling that Steadfast Insurance Co. has no obligation to indemnify Arlington, Va.-based energy corporation AES Corp.

LAKE CHARLES, La.—A restaurant server who tripped over a box of potatoes is entitled to workers compensation benefits despite a post-injury drug test showing marijuana and Xanax consumption, a Louisiana appeals court ruled.

PEMBROKE, Bermuda—Beleaguered by natural catastrophes and man-made disasters, Validus Holdings Ltd. announced on Friday that its annual net income plummeted 94.7% in 2011, to $21.3 million from $402.6 million in 2010.

NEW YORK (Reuters)—Goldman Sachs Group Inc. was ordered by a federal judge to face a securities class action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.

ROSELAND, N.J.—BB&T Corp. has reached an agreement to acquire the life and property and casualty insurance operating divisions of Roseland, N.J.,-based Crump Group Inc. for $570 million, BB&T announced Friday.

CHICAGO—Aon Corp.'s revenue jumped to $11.29 billion in 2011, a 32.7% increase over that of a year earlier, due in large part to its purchase of Hewitt Associates Inc., the Chicago-based brokerage reported Friday.

TOKYO (Reuters)—Japan will join at least four other nations in a pact to help compensate victims of nuclear accidents in member countries, a newspaper reported on Friday, as it continues to grapple with the aftermath of the world's worst atomic...

WASHINGTON—Providing partial annuities and reducing restrictions on so-called deferred longevity annuities were parts of proposed regulations on lifetime income options in retirement plans announced Thursday by the Treasury Department.

Aided by a strong equities market, the funding levels of large corporate pension plans improved in January but still are significantly below levels of just a few months ago, according to an analysis by Mercer L.L.C.

WASHINGTON—In an effort to protect their right to pursue individual and class action pay and promotion claims, more than 500 current and former Wal-Mart Stores Inc.

PHIILADELPHIA—An individual supervisor can be held liable under the Family Medical Leave Act, says an appellate court.

Cats fare better than kids when it comes to covering loved ones for serious illnesses, according to Surrey, England-based insurer Ageas Protect Ltd.

PHILADELPHIA—Four lawsuits filed by former National Football League players over concussion-related injuries have been consolidated in U.S. District Court in Philadelphia.

Defined contribution service providers will be required to provide more and clearer information on direct and indirect fees being charged to plan sponsors under final federal disclosure regulations announced Thursday.

FORT WORTH, Texas—InsureZone Inc. said Thursday that it has added middle-market underwriter Sequoia Insurance Co. to its online commercial rating platform.