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Category: Insurance Journal

OSHA Says Amazon Failed to Provide Injured Workers With Adequate Medical Care
Insurance Journal | May 1, 2023
OSHA Says Amazon Failed to Provide Injured Workers With Adequate Medical Care
The Occupational Safety and Health Administration (OSHA) reports it has found that giant online retailer Amazon failed to provide adequate medical treatment for traumatic and chronic injuries at a fulfillment center in Castleton, New York. OSHA alleged that at least …
Toyota-Subsidiary Daihatsu Rigged Safety Tests for 88,000 Cars
Insurance Journal | May 1, 2023
Toyota-Subsidiary Daihatsu Rigged Safety Tests for 88,000 Cars
Toyota Motor Corp. affiliate Daihatsu rigged part of the door in side-collision safety tests carried out for some 88,000 small cars, most of which were sold under the Toyota brand, the companies said on Friday. They said the door trim …
Epstein Victim Suing JPMorgan Seeks Class-Action Status
Insurance Journal | May 1, 2023
Epstein Victim Suing JPMorgan Seeks Class-Action Status
A victim of Jeffrey Epstein asked a judge to let her represent more than 100 other women in a lawsuit alleging that JPMorgan Chase & Co. facilitated their abuse by the late financier. A second victim filed an almost identical …
Executive Bonuses in Crosshairs in New CO2 Proposal: ESG Regulation
Insurance Journal | May 1, 2023
Executive Bonuses in Crosshairs in New CO2 Proposal: ESG Regulation
Executives will face bonus cuts if the companies they run fail to hit climate transition targets, under a new European Union proposal that greatly expands the range of levers regulators can draw on to meet terms of the Paris Agreement. …
Maine asks railroad to fix roads, culverts after derailment
Insurance Journal | May 1, 2023
Maine asks railroad to fix roads, culverts after derailment
Maine environmental regulators have asked a railroad cleaning up a freight train derailment site to repair forest management roads and culverts damaged by heavy equipment and that led to the discharge of sediment into area waters. State Department of Environmental …
Ex-CFO Gets 3 Years Prison for Stealing From SPACs to Trade Meme Stocks, Crypto
Insurance Journal | May 1, 2023
Ex-CFO Gets 3 Years Prison for Stealing From SPACs to Trade Meme Stocks, Crypto
A former chief financial officer of multiple special purpose acquisition companies (SPACs) was sentenced to three years in prison for embezzling more than $5 million from them, and losing almost all of it trading meme stocks and cryptocurrencies. Cooper Morgenthau, …
First Republic Regulators Rush to Fix Crisis as Banks Make Bids
Insurance Journal | May 1, 2023
First Republic Regulators Rush to Fix Crisis as Banks Make Bids
US regulators were rushing to resolve the First Republic Bank crisis Sunday after a midday deadline passed for submitting final bids to take over the struggling lender. The Federal Deposit Insurance Corp. had asked banks including JPMorgan Chase & Co., …
Fed Report on SVB Collapse Could Buoy Shareholder Lawsuits
Insurance Journal | May 1, 2023
Fed Report on SVB Collapse Could Buoy Shareholder Lawsuits
A scathing Federal Reserve report on the collapse of Silicon Valley Bank released on Friday could be a boon to shareholders suing the defunct lender’s executives for allegedly hiding risks that led to its stunning downfall, legal experts said. The …
Georgia Sheriff’s Chief of Staff Charged with Insurance Fraud in ‘Hit-and-Run’ Claim
Insurance Journal | May 1, 2023
Georgia Sheriff’s Chief of Staff Charged with Insurance Fraud in ‘Hit-and-Run’ Claim
The chief of staff for an Atlanta-area sheriff has been charged with insurance fraud after an investigation found that he had lied about the circumstances of an accident. Braxton Tyree Cotton, 41, a major in the Cobb County Sheriff’s Office, …
TN Volkswagen Plant Shut Down After Three Workers Hit by Vehicle Outside
Insurance Journal | May 1, 2023
TN Volkswagen Plant Shut Down After Three Workers Hit by Vehicle Outside
Management shut down production Saturday at a Volkswagen plant in Tennessee after three workers were struck by a vehicle on a walkway just outside the plant, authorities said. One person was killed, a second was critically injured and a third …