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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 …
Israeli Cyber Firm Cato Networks Raises $238M, Valued at $3B
Insurance Journal | September 20, 2023
Israeli Cyber Firm Cato Networks Raises $238M, Valued at $3B
Israeli cybersecurity firm Cato Networks said on Tuesday it had raised $238 million in a private funding round that valued the company at $3 billion. The round, one of Israel’s largest this year and Cato’s biggest, was led by LightSpeed …
The Legal Tensions of Collaboration and Competition in the Life Sciences Industry
Insurance Journal | September 20, 2023
The Legal Tensions of Collaboration and Competition in the Life Sciences Industry
Moderna’s suit against Pfizer and partner BioNtech over alleged COVID-vaccine-related patent infringement – and the targets’ countersuit – might suggest an abrupt return to business as usual after an unprecedented period of cooperation among life sciences companies during the height …
People Moves: Hylant Names Reyes Risk Leader and Adds NC Benefits Team Members
Insurance Journal | September 20, 2023
People Moves: Hylant Names Reyes Risk Leader and Adds NC Benefits Team Members
Hylant, one of the larger privately held insurance brokers in the country, has made a number of personnel changes in recent weeks. Alejandro Reyes will lead Ohio-based Hylant’s business risk consulting teams, which help clients manage operational risks, the company …
Assumable Mortgages Could Save Buyers Thousands in Interest, Startup Says
Insurance Journal | September 20, 2023
Assumable Mortgages Could Save Buyers Thousands in Interest, Startup Says
A New York startup company said it is now offering a platform that will make it easier for homebuyers to assume a mortgage from the seller, potentially saving buyers significantly over current interest rates. Roam, as it’s known, launched last …