Takata Share Prices Fall As Auto Makers Signal Avoidance of Takata Air Bags
Posted on Nov 5, 2015 in Industry News | Comments Off on Takata Share Prices Fall As Auto Makers Signal Avoidance of Takata Air Bags
After Mazda, Subaru, and Mitsubishi automakers indicated that they would no longer use Takata air bags, Takata Corp. experienced a drop in its share price of approximately 25%. The announcements all followed the determination by Honda that it would no longer use Takata air bags in new vehicles, as well as a settlement with the National Highway Traffic Safety Administration. The...
Honda to Stop Using Takata Air Bags
Posted on Nov 5, 2015 in Industry News | Comments Off on Honda to Stop Using Takata Air Bags
Honda decided that it will stop using Takata air bags in new vehicles after reviewing millions of pages of internal Takata documents and determining that test data for certain air bag inflators was misrepresented or manipulated. The decision by Honda follows a $200 million fine imposed on Takata by the National Highway Traffic Safety Administration (“NHTSA”). Takata agreed to pay $70...
Air Bag Defect Leads to Mercedes-Benz Recall of 126,000 Cars
Posted on Nov 4, 2015 in Industry News | Comments Off on Air Bag Defect Leads to Mercedes-Benz Recall of 126,000 Cars
According to the National Highway Traffic Safety Administration, a defect in the air bags of certain Mercedes vehicles—which can cause the bags to deploy without impact—has led to a recall of approximately 126,000 cars. Mercedes became aware of a potential defect through three customer complaints in early 2014, but did not discover the root cause until summer 2015. An investigation...
Members Named to Federal Insurance Advisory Committee
Posted on Oct 28, 2015 in Insurance Regulation | Comments Off on Members Named to Federal Insurance Advisory Committee
The U.S. Department of the Treasury recently named twelve members to the Federal Advisory Committee on Insurance (FACI). FACI provides advice and recommendations directly to the Federal Insurance Office to assist that agency in carrying out its statutory authority. Half of the members are state insurance regulators, while the other half are industry executives, academics, and consumer...
Europe Weakens Proposed On-The-Road Emissions Testing
Posted on Oct 28, 2015 in Industry News | Comments Off on Europe Weakens Proposed On-The-Road Emissions Testing
In the wake of recent emissions testing scandals, the European Union has proposed new regulations and standards that would require on-the-road emissions testing for all new cars by 2019. The proposed standards would require that all new cars emit nitrogen oxide levels no more than fifty percent above the current limits by 2021. Regulators faced criticism after relaxing the proposed cap...
