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U.S., Europe Order Emergency Checks on 700 Engines Like One in Southwest Accident
U.S. and European airline regulators on Friday ordered emergency inspections within 20 days of nearly 700 aircraft engines similar to the one involved in a fatal Southwest Airlines engine blowout last week, citing risks of a similar mishap. The directives …

POSTED APRIL 23, 2018 1:44 AM
Australia Looks to Heavy Fines to Punish Financial Services Wrongdoing
Australia’s competition watchdog on Monday supported massive increases in financial penalties for companies caught doing the wrong thing, after widespread misconduct was exposed by an ongoing inquiry into the financial sector. Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims …

POSTED APRIL 23, 2018 1:00 AM
Facebook to Restrict Number of Users Protected Under EU’s New Privacy Law: Reuters
If a new European law restricting what companies can do with people’s online data went into effect tomorrow, almost 1.9 billion Facebook Inc. users around the world would be protected by it. The online social network is making changes that …

POSTED APRIL 23, 2018 1:00 AM
Wells Fargo to Pay $1 Billion Fine for Mortgage, Insurance Sales Abuses
Wells Fargo & Co. will pay $1 billion to settle with U.S. regulators who say the bank wrongly layered insurance on hundreds of thousands of drivers and routinely hit homebuyers with excessive fees, officials said on Friday. The penalty was …

POSTED APRIL 23, 2018 1:00 AM
Blackstone Wants to Manage More Insurance Money
Bets on Spanish housing and oil assets helped Blackstone Group LP mitigate stock market jitters that weighed on it in the first quarter, with earnings at the world’s largest manager of alternative assets falling less than expected. Profits have soared …

POSTED APRIL 23, 2018 1:00 AM
ProSight Specialty Kicks Off Direct Sales Platform With Online Offering for DJs
ProSight Specialty Insurance (ProSight) has launched ProSight Direct, an online sales platform that allows potential insureds purchase insurance coverage through a simplified application. Because of ProSight’s experience in the live entertainment segment, it has kicked off the new Direct platform …

POSTED APRIL 23, 2018 12:25 AM
Southwest Sends $5K to Each Passenger on Engine Failure Flight
Southwest Airlines Co. confirmed Friday it has sent $5,000 checks to passengers aboard a flight that made an emergency landing this week after an engine failed, killing a passenger. The airline confirmed news reports from passengers it had sent the …

POSTED APRIL 22, 2018 10:30 PM
Business Risk Partners Teams With Aspen on Agents Professional Liability Coverage
Program administrator Business Risk Partners (BRP) has released an expanded professional liability form for insurance agents and brokers through Aspen American Insurance Co., part of Aspen Insurance Holdings Limited. The policy targets a range of insurance agents and brokers – …

POSTED APRIL 20, 2018 12:49 PM
Woman Injured at Ohio Fair Gets $1.8M from Ride Owner, Inspection Companies
A woman who suffered a traumatic brain injury in a thrill ride accident at last year’s Ohio State Fair will receive $1.8 million. A judge this week approved the settlement that calls for the ride’s owner, Amusements of America, and …

POSTED APRIL 20, 2018 4:44 PM
Houston-Area Flood Control District: $155M Needed for Harvey Damage Study, Repairs
The Houston-area flood control district has estimated needing $155 million to study and fix damaged infrastructure after Hurricane Harvey. Workers this week are assessing the storm’s destruction to the Harris County Flood Control District’s 2,500 miles of bayous, creeks and …

POSTED APRIL 20, 2018 4:38 PM

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