Insurance
California Fines Online Health Provider $3.2M over Claims Practices
The Pill Club Holdings Inc. (dba The Pill Club) paid $3.2 million after the California Department of Insurance alleged it violated the California Insurance Frauds Prevention Act by submitting false claims to insurance companies for reimbursement for telehealth visits and …
Read More Lawmakers Focus on Aviation Safety After 2 Near-Miss Crashes
The U.S. Congress needs to address serious concerns about the country’s aviation system after recent incidents including two near miss crashes and the failure of a key pilot computing system, lawmakers said on Tuesday. “Right now the alarm bells should …
Read More New York City Ending Covid-19 Vaccination Mandate for City Employees
New York City, which once had the nation’s strictest workplace vaccination rules for COVID-19, is ending one of its last such mandates, saying it will no longer require the shots for municipal employees including police officers, firefighters and teachers. The …
Read More Funeral Home Finds Woman Alive Hours After Nursing Home Pronounced Her Dead
An 82-year-old woman was pronounced dead at a New York nursing home but found to be breathing three hours later at the funeral home where she had been taken, authorities said. The woman was pronounced dead at Water’s Edge Rehab …
Read More Earthquakes Deliver Another Blow to Turkey’s Re/Insurance Industry: Reports
Two powerful earthquakes, which hit southeastern Turkey on Feb. 6, 2023, deliver another blow for the local re/insurance industry, according to a commentary from AM Best. While it is likely that international reinsurance markets will pick up a proportion of …
Read More Thwarted Plot to Attack Baltimore Power Grid Part of Growing Domestic Terrorism, Feds Say
A Maryland woman spent months conspiring with a neo-Nazi leader based in Florida to plan an attack on Baltimore’s power grid, hoping to further their racist mission, law enforcement officials said Monday. The plan was thwarted when both suspects were …
Read More Samsung Chip Plant Sues Insurer Over $400 Million in Storm Damage Claims
A Samsung Electronics Co. semiconductor plant in Texas sued its insurer over $400 million in damage claims tied to a power blackout during a deadly winter storm in 2021. The federal lawsuit filed Monday against Factory Mutual Insurance Co. said …
Read More Judge Upholds Punitive Damage Award in Prison Strip Search
A judge rejected a challenge on Monday by Delaware’s Department of Correction of a jury’s $15,000 punitive damage award to an inmate who was mistreated by a former prison guard during a strip search. The judge upheld the jury’s November …
Read More Rethink Needed on How to Regulate Big Tech in Finance Services: BIS Official
A rethink is needed on how to directly regulate activities of Big Tech companies in financial services, given their size and influence, a top official at an international forum for central banks said in Wednesday. Data-rich Big Tech companies such …
Read More Americanas’ $4B Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record
A $4 billion accounting shortfall would typically raise alarm bells for an auditor. Somehow, a PricewaterhouseCoopers LLP affiliate didn’t catch it at Americanas SA. Investor and consumer groups are calling for closer scrutiny of the accounting firm after the unveiling …
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