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Archive: September 2023

Maine House GOP Leader, a Lobsterman, Survives Boat Capsize and Sinking
Insurance Journal | September 20, 2023
Maine House GOP Leader, a Lobsterman, Survives Boat Capsize and Sinking
Like most lobstermen, the Maine House Republican leader scrambled to complete his work ahead of the remnants of Hurricane Lee. Rep. Billy Bob Faulkingham was rushing home from sea when a giant wave rose up, seemingly from nowhere, and towered …
OSHA Fines Georgia Silo Operator for Safety Violations After Suffocation of Worker
Insurance Journal | September 20, 2023
OSHA Fines Georgia Silo Operator for Safety Violations After Suffocation of Worker
The death of a worker who suffocated in a Georgia grain silo could have been prevented had the employer not violated safety regulations, federal officials say. That finding results from the U.S. Occupational Safety and Health Administration investigation into the …
‘Talking Shops’ and Too Little Action Hamper City of London Reboot: Analysis
Insurance Journal | September 20, 2023
‘Talking Shops’ and Too Little Action Hamper City of London Reboot: Analysis
When London’s Lord Mayor called recently for the creation of a new council to lead reform of Britain’s flagging financial services sector, a deep sense of déjà vu eclipsed the City. For many, the proposal served as a reminder of …
Virgin Australia Finds Second Bogus Jet Part With Fake Certificate
Insurance Journal | September 20, 2023
Virgin Australia Finds Second Bogus Jet Part With Fake Certificate
Virgin Australia Airlines Pty found a second suspected unapproved plane part from obscure UK supplier AOG Technics Ltd., as the industry continues to hunt down bogus components that have spread across the global fleet. The Australian airline discovered a seal …
United Airlines Is Latest to Discover Bogus Parts in Plane Engines
Insurance Journal | September 20, 2023
United Airlines Is Latest to Discover Bogus Parts in Plane Engines
United Airlines Holdings Inc. discovered dubious parts in two aircraft engines, adding to the list of carriers worldwide that have found bogus components from supplier AOG Technics Ltd. The parts were discovered in a single engine on each of two …
Google Launches Last-Ditch Effort to Overturn $2.6B EU Antitrust Fine
Insurance Journal | September 20, 2023
Google Launches Last-Ditch Effort to Overturn $2.6B EU Antitrust Fine
Alphabet’s Google on Tuesday made a last-ditch effort at Europe’s top court to overturn a 2.42 billion euro ($2.6 billion) EU antitrust fine imposed for market abuse related to its shopping service, saying that regulators failed to show that its …
US Federal Agencies Aim to Streamline ‘Hodgepodge’ of Cyber Reporting Rules
Insurance Journal | September 20, 2023
US Federal Agencies Aim to Streamline ‘Hodgepodge’ of Cyber Reporting Rules
The Department of Homeland Security wants Congress and other federal agencies to help it streamline 52 different cyber reporting requirements to protect critical infrastructure and ease regulatory burdens on hacking victims. On Tuesday, it released a 107-page report that it …
Eli Lilly Sues Businesses Selling Knockoff Versions of Mounjaro
Insurance Journal | September 20, 2023
Eli Lilly Sues Businesses Selling Knockoff Versions of Mounjaro
Eli Lilly & Co. is suing medical spas, wellness centers and compounding pharmacies in various US states that sell unapproved versions of its blockbuster diabetes drug Mounjaro, which is frequently used off-label for weight loss. In lawsuits Lilly said it …
US Home Insurance ‘Bubble’ Closer to Popping as Climate Risks Mount: Report
Insurance Journal | September 20, 2023
US Home Insurance ‘Bubble’ Closer to Popping as Climate Risks Mount: Report
Home insurance costs that have soared in much of the US may get even higher. Tens of millions of properties around the country are insured at prices that haven’t caught up with the danger of hurricanes, wildfires and floods, according …
Credit Suisse Unit Ordered to Pay Georgian Tycoon Ivanishvili $743 Million
Insurance Journal | September 20, 2023
Credit Suisse Unit Ordered to Pay Georgian Tycoon Ivanishvili $743 Million
A Credit Suisse unit has been ordered to pay billionaire Bidzina Ivanishvili reduced damages of $742.7 million by a Singapore court as it confirmed that the bank’s trust had failed to safeguard its client’s assets. The amount was revised down …