Risk

What to Do if You’ve Been Exposed to Asbestos

If you work in construction, then you are likely exposed to hazards every single day. However, there is one hazard that you might not be aware of: asbestos. Long-term asbestos exposure can result in major consequences, including a deadly form of cancer known as mesothelioma.


Whistleblower Lawsuit Filed in California Against UnitedHealth Group Is Dismissed

A federal judge has dismissed a whistleblower lawsuit against Minnetonka-based UnitedHealth Group that alleged the nation’s largest health insurer wrongly received higher payments from Medicare based on false information about enrollee health problems that could have been corrected. The ruling, handed down late last week in the U.S. District Court for Central California, does not halt a …


Lawsuit Says Jacksonville Can’t Jail Defendants for Being Too Poor to Pay Bail

A new lawsuit could upend Jacksonville’s system of detaining poor defendants charged with minor crimes. The lawsuit filed Thursday says Jacksonville’s system of money bail — that is, someone charged with a crime must pay a set amount to be released without regard to the defendant’s ability to pay — violates poor defendants’ rights to equal protection under the law. The current system allows the …


Exxon Faces Climate Disclosure Lawsuit

The world’s first shareholder-led lawsuit over alleged inadequate disclosures of climate risk has been filed against Exxon. ClientEarth thinks it could be the first of many such legal actions. The filing of the case, in the US, follows revelations in Exxon’s third quarterly financial reports that it may be forced to write down nearly 20% of its oil and gas assets (the equivalent of 3.6 billion …


House Unanimously Passes Saudi 9/11 Lawsuit Bill

Heading into the weekend that will mark the 15th anniversary of 9/11, the House of Representatives has unanimously passed the Justice Against Sponsors of Terrorism Act (JASTA). The bill passed by unanimous voice vote, as it did in the Senate back in May.




State Street Sees Double Whammy of Op Risk Losses

Megan van Ooyen is a senior associate business operations specialist in the OpRisk Global Data group at SAS in North Carolina It’s been two years since the peak of the regulatory fallout from residential mortgage-backed securities. Since then, regulatory fines and settlements, which tend to result in the largest operational risk losses for financial services firms, have largely settled down. …


HSBC Holdings to Settle Household International Class Action Lawsuit

HSBC Holdings PLC’s (NYSE:HSBC) restructuring effort could be affected by increased litigation charges, in addition to new proposed regulation by the Basel Committee, for estimating operational risk. HSBC’s unit HSBC Finance Corp has agreed to settle the shareholder claims related to Household International, which are 14-years old, for the payment of worth $1.575 billion. HSC spokesman Rob …


Air NZ to Pay $US35m to Settle US Lawsuit

Air New Zealand has agreed to pay $US35 million ($A47.57 million) to settle a class-action lawsuit in the US. The action by freight forwarding companies claimed airlines colluded over cargo fuel and security surcharges between 2000 and 2006. New Zealand’s national carrier was one of only two airlines still holding out in the suit – the other being Air India – after 26 airlines cut settlement …