regulators News

Chasing Yield, U.S. Private Equity Firms Nudge Up Risk on Insurers

NEW YORK — Private equity firms have spent nearly $40 billion buying U.S. insurance companies in recent years, promising to earn higher returns on the mountains of money that insurers set aside to pay policyholders years or decades from now. …

As Texas Shivers Through Fourth Day of Outage, Finger-Pointing Begins

HOUSTON — Widespread power outages and bone chilling cold that left millions of Texans to shiver in the dark sparked a fury this week among residents and politicians eager to uncover what – and who – was to blame for …

Report: Improper Documentation a Frequent Reason for Claims Handling Citations

Claims errors continue to be the most frequent reason that property and casualty insurers are cited by regulators when responding to market conduct complaints or during routine examinations, according to a new report by Wolters Kluwer Compliance Solutions. Kathy Donovan, …

Boeing Plans a Quiet Comeback for 737 Max as Grounding Nears End

Boeing Co. is plotting a low-key comeback for the 737 Max, the grounded jetliner that has spent almost two years engulfed in controversy and tragedy after two fatal crashes, said people familiar with the matter. There won’t be an advertising …

NTSB: Regulators Failed at Jobs in Limo Crash That Killed 20

ALBANY, N.Y. — Federal investigators examining the 2018 crash of a stretch limousine that killed 20 people said Tuesday that state regulators repeatedly failed to oversee a poorly maintained vehicle with corroded brakes. National Transportation Safety Board members are expected …

Environmental Groups Propose Tailings Dam Safety Standards

Mining companies should be required to buy private insurance for tailings dams and their board of directors should be held legally responsible for any disasters, a coalition of 140 environmental groups said in a report published on Tuesday. The recommendations, …

U.S. Corporate Crisis Bailouts May Prove Bonanza For Insider Trading, New Study Warns

WASHINGTON/BOSTON — White-collar crime prosecutors and defense attorneys are likely to be busy following a massive economic stimulus package from the U.S. Congress aimed at mitigating the fallout from the coronavirus, according to a new academic study of insider trading. …

Boeing Failure to Fix 737 Max Warning Light May Draw FAA Penalty

Boeing Co. engineers discovered in 2017 that a software glitch had rendered a warning light on the newly introduced 737 Max inoperable on 80% of the planes. But the company chose not to fix it or to inform U.S. regulators. …

Boeing Fires CEO Muilenburg to Restore Confidence Amid 737 Crisis

Boeing Co has fired Chief Executive Dennis Muilenburg after repeatedly failing to contain the fallout from a pair of fatal crashes that halted output of its best-selling jetliner and tarnished its reputation with airlines and regulators. Boeing – beset by …

After Boeing Crashes, Jet Design Rules to Get Tougher for All

Planemakers worldwide face tougher scrutiny and changes in the way aircraft are certified in the aftermath of two fatal crashes of Boeing 737 MAX jets, leading regulators have told Reuters. Tuesday marks one year since the deadly crash of a …