July 1, 2020
Tesla Inc. is making a one-time payment of almost $1 million to Chief Executive Officer Elon Musk related to a controversial insurance arrangement he agreed to with the carmaker’s board earlier this year. The company is backtracking from plans to …
June 30, 2020
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, …
May 1, 2020
Tesla founder and CEO Elon Musk is getting into the insurance business again, sort of. Musk has cancelled his company’s directors and officers insurance (D&O), replacing it with a promise to personally provide his board members with “equivalent” coverage to …
April 14, 2020
Berkshire Hathaway Specialty Insurance (BHSI) has introduced two new policies tailored specifically for UK financial institutions: Professional First Financial Institutions Civil Liability Insurance, and Executive First Financial Institutions D&O Liability Insurance. “Both policies clearly articulate broad coverage for liability exposures …
February 24, 2020
An independent investigation requested by Brazilian iron ore miner Vale SA into the causes of the Brumadinho tailings dam disaster that killed 270 people a year ago found the company knew about the problem but failed to deal with it. …
November 25, 2019
Australian Home Affairs Minister Peter Dutton said Westpac Banking Corp. must pay the price for giving “a free pass to pedophiles” as the corporate watchdog began investigating the lender over millions of breaches of money laundering laws. Dutton is the …
November 15, 2019
A six-week public consultation launched [in London] on Friday will help set global standards to improve mining safety, aiming to prevent any repeat of the Vale tailings dam disaster in Brazil that killed 300 people in January. Tailings dams are …
November 12, 2019
Brazil’s mining regulator on Tuesday blasted iron ore miner Vale SA for failing to disclose problems with a mining dam before a deadly collapse in January, saying this kept the agency from taking actions that could have saved lives. The …
November 5, 2019
Ascot is launching a Management Liability and Financial Institutions group, led by Ryan Becker as executive vice president. The new group will offer a wide range of admitted and non-admitted, primary and excess directors & officers (D&O) and financial institutions …
November 5, 2019
The former chief executive of Brazilian iron ore miner Vale received an anonymous email weeks before the deadly collapse of a tailings dam at Brumadinho in January 2019 warning about “dams at their limit,” according to the findings of an …