Insurance
20 Cars of Norfolk Southern Cargo Train Derail in Ohio
SPRINGFIELD, Ohio (AP) – About 20 cars of a Norfolk Southern cargo train derailed near Springfield Saturday evening, the second derailment of the company’s trains in Ohio in a month, officials said. But unlike the Feb. 3 derailment in East …
Read More Update: China to Launch National Financial Regulator in Major Supervisory Overhaul
China will set up a national financial regulatory administration, according to a plan announced on Tuesday, in the biggest overhaul of the country’s financial supervisory apparatus in years. The China Banking and Insurance Regulatory Commission (CBIRC), the country’s banking and …
Read More BOE’s Bailey Says UK’s Reforms of Insurance Capital Rules Increase Failure Risk by 20%
The governor of the Bank of England has told lawmakers that the UK government’s plans to reform insurance capital rules increases the annual risk of a failure in the life insurance sector by around 20%. The likelihood of a failure …
Read More FTX’s Crash Exposes Insurance Black Hole That Risks Impeding Crypto Sector Recovery
A long road lies ahead to repair confidence in crypto after unprecedented bankruptcies and hacks, including the major challenge of giving investors a way of insuring against such events. Stock brokerage accounts often come with some cover against outcomes like …
Read More Will $4 Billion Be Enough for Everglades Restoration?
Massive and massively expensive, it’s been touted as the “crown jewel” of Everglades restoration, the key to unlocking every other project that will come after it. The $4 billion Everglades Agricultural Area reservoir – about half the size of the …
Read More NY Fed Says Supply Chain Pressures Normalized in February
Global supply chains have “returned to normal,” the Federal Reserve Bank of New York said on Monday, with pressures dropping to the lowest since before the COVID-19 pandemic threw a wrench into procurement networks worldwide and created shortages for everything …
Read More Biden’s Cyber Plan Would Hold Software Makers Responsible in Hacks
The Biden administration is set to release an aggressive new national cybersecurity strategy on Thursday that seeks to shift the blame from companies that get hacked to software manufacturers and device makers, putting it on a potential collision course with …
Read More DOL Says It Recovered $330,000 from NC Contractor that Misclassified Workers
The U.S. Department of Labor said it has recovered about $330,000 in back wages from a North Carolina contractor that misclassified workers as independent contractors. “Employers who misclassify employees as independent contractors deny them overtime wages and may deny them …
Read More Two Plead Guilty in Massachusetts Drivers License Scam
The former manager of a Massachusetts Registry of Motor Vehicles branch has agreed to plead guilty to federal extortion charges for allegedly taking bribes and in exchange for issuing passing scores on learner’s permit tests, federal prosecutors said. Mia Cox-Johnson, …
Read More Owner of Chain of Addiction Clinics Charged With Insurance Fraud
The owner of a chain of clinics treating substance abuse disorders in Massachusetts and Rhode Island, and one of the company’s employees, were charged last week with cheating health insurers out of millions of dollars while depriving patients of needed …
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