Insurance
At SpaceX, Worker Injuries Soar in Elon Musk’s Rush to Mars
One windy night at Elon Musk’s SpaceX facility in McGregor, Texas, Lonnie LeBlanc and his co-workers realized they had a problem. They needed to transport foam insulation to the rocket company’s main hangar but had no straps to secure the …
Read More Hawaii Wildfire Burning in Rainforest on Oahu
A wildfire burning in a remote Hawaii rainforest is underscoring a new reality for the normally lush island state just a few months after a devastating blaze on a neighboring island leveled an entire town and killed at least 99 …
Read More GE Settles Claims a Massachusetts Plant Sold Improperly Inspected Parts to Army, Navy
General Electric’s aerospace unit agreed on Monday to pay $9.4 million to settle federal government claims that a Massachusetts plant sold parts to the U.S. Army and Navy that were not properly inspected or did not meet specifications. The U.S. …
Read More Hamilton Insurance Shares Rise 1.7% in NYSE Debut
Hamilton Insurance Group HG.N notched a valuation of $1.68 billion as shares rose 1.7% in a tepid market debut on Nov. 10, indicating limited investor appetite for new listings. The Bermuda-based company’s stock opened at $15.25, compared with the initial …
Read More People Moves: Marsh Names Kowell Marine, Cargo and Logistics Practice Leader, US and Canada; WTW Appoints Messinger Lead of FI&PS
Marsh, a business of Marsh McLennan, headquartered in New York, N.Y., named Janice Kowell marine, cargo and logistics practice leader, U.S. and Canada. Kowell will remain based in Portland, Ore. Kowell succeeds Michael Pellegrini, who has been named regional head …
Read More West Virginia Taps $4 Million in Insurance to Pay Settlement With Inmates
The state of West Virginia has agreed to pay $4 million to settle a class-action lawsuit filed by inmates who described conditions at a jail as inhumane, an attorney for the plaintiffs said. Attorney Stephen New disclosed the figure Thursday …
Read More Markets/Coverage: QBE Launches Marine Offering for European Customers
Australian insurer QBE has launched a marine offer that will insure international trade for European customers who want to be serviced locally. As an international insurer with local presence in 28 countries, QBE said it wants to seize the opportunity …
Read More Florida Firm Fined $16 Million Over Defect in Clothing Steamer Products
The Consumer Product Safety Commission (CPSC) reports that HSN Inc., of St. Petersburg, Florida, has agreed to pay a $16 million civil penalty. to settle charges that it failed to report complaints and injuries related to its garment steaming products. …
Read More EU Watchdog Cautions Against One-Size-Fits-All Rules for Non-Bank Financial Sector
Regulators should keep on open mind when writing rules for the world’s $239 trillion “non-bank” financial sector to avoid one-size fits all approaches, the EU’s top securities watchdog said. Non-banks, a sector which includes hedge funds, real estate funds, insurers …
Read More World’s Biggest Bank Had to Trade Via USB Stick After Cyber Attack
On Thursday, trades handled by the world’s largest bank in the globe’s biggest market traversed Manhattan on a USB stick. Industrial & Commercial Bank of China Ltd.’s US unit had been hit by a cyberattack, rendering it unable to clear …
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