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7
10, 2015
FAA Hopes to Send Message with $1.9 Million Penalty Against Drone Photographer
The U.S. Federal Aviation Administration is proposing the largest fine to date against a drone operator as the agency cracks down on the booming use of unmanned aircraft in congested skies over populated areas. The agency said Tuesday it was …
5
10, 2015
FERMA Launches 1st Professional Certification for European Risk Managers
The Federation of European Risk Management Associations (FERMA) has formally launched its program of European Certification for professional risk managers. It is the first such designation and is designed to reinforce the standing of the profession in Europe, FERMA said. …
8
10, 2015
Idaho Shop Owner Ordered to Pay 100K to Worker Fired After Safety Report
A judge ordered a northern Idaho gas station owner to pay $100,000 to a former employee who was fired after reporting safety violations, including exposed wiring near water leaks and a lack of first aid equipment. U.S. District Judge B. …
5
10, 2015
Pennsylvania Holds Hearing on Issue of Surprise Medical Bills
Advocates for consumers, insurers, hospitals and doctors clashed on Oct. 1 at a Pennsylvania hearing on surprise bills for expensive out-of-network health care services sent to patients who thought their treatments were covered by their insurance networks. Pennsylvania Insurance Commissioner …
8
10, 2015
Massachusetts Considers Ban on Handheld Cellphone Use While Driving
Families of those killed in distracted driving accidents are asking Massachusetts lawmakers to back legislation that would require drivers to use hand-free phones in the state. Foxborough, Massachusetts, resident Jerry Cibley’s 18-year-old son Jordan was killed in 2007 as he …
5
10, 2015
Too-Big-to-Fail Insurers Face 10% Hike to Capital Requirements: Int’l Regulators
Global insurers with the greatest ties to the financial system would face an average increase of 10 percent to capital requirements under new standards proposed by a group of regulators. The increase would be as high as 18.75 percent for …
6
10, 2015
New York Grants Charter to Winklevoss-Backed Bitcoin Exchange
Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, has been granted a license to operate as a chartered limited liability trust company by the New York State Department of Financial Services, the state regulator announced on Monday. Under …
5
10, 2015
A.M. Best: Republic Underwriters Insurance Co. Ratings Under Review
A.M. Best has placed under review with positive implications the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Republic Underwriters Insurance Company (Dallas, TX) and its subsidiaries, collectively known as the Republic …
6
10, 2015
Emission Scandal Puts VW Test Site in California Under Scrutiny
When Volkswagen opened its gleaming pollution testing center near the California coast, a top executive from the German automaker helped snip the blue ribbon and joined a tour of a lab so advanced that VW would brag the air inside …
5
10, 2015
Berkley Re UK Launches Global Facultative Property Unit; Galea to Lead Team
Berkley Re UK Limited*, the London-based subsidiary of W. R. Berkley Co., announced it launched a global facultative property unit to provide targeted and tailor-made coverage to global clients, which will “enable them to better manage their risks, whether in growth areas or …