Insurance
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 …
Read More Louisiana State Police Open Criminal Investigation Into McClenny Moseley, Apex Roofing
Louisiana State Police have opened a criminal investigation into efforts by McClenny Moseley & Associates and Apex Roofing to solicit customers after receiving a complaint by the state Insurance Department about “suspected fraudulent actions” related to insurance claims. An initial …
Read More Cyber Attack Against Australia Port Operator Causes Massive Container Backlog
DP World Plc is struggling to work through a backlog of 30,000 shipping containers piled up at ports across Australia as the company resumes operations after a cyberattack. Friday’s hack on DP World, one of the world’s largest port operators, …
Read More EU Court Sides With Car Service Firms in Data Fight With Sweden Truck Maker Scania
Swedish truck maker Scania must share car data, such as vehicle identification numbers, with repair shops and parts distributors, Europe’s top court said on Thursday in a ruling that could provide a boost for the latter looking to tap a …
Read More Russia Flagship Carrier Aeroflot Says It Reached Settlement With Aircraft Leasing Firm
Russian flagship carrier Aeroflot said on Thursday it had clinched a settlement with leasing company BOC Aviation under which nine aircraft are to be handed over to Russian state insurance company NSK. A statement issued by Aeroflot said NSK would …
Read More Freight Costs for Ships in Ukraine’s Export Corridor Ease Back to Former Levels
Freight costs for ships in Ukraine’s alternative export corridor have eased back to their former levels, a government source said on Friday, after brokers said earlier they had risen following an attack on a cargo vessel in the Black Sea …
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