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Category: Insurance Journal

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 …
Mississippi Tire Plant Partly Covered, Will Reopen in June After Tornado
Insurance Journal | May 1, 2023
Mississippi Tire Plant Partly Covered, Will Reopen in June After Tornado
A northeast Mississippi tire plant that was damaged by an April tornado is expected to restart production in June. Goodyear Tire & Rubber Co. said this week that it was likely to take several months for its Cooper Tire plant …