Posts by Hometown Insurance
China to See Unusually Active Typhoon Season After Bavi Passes
China may encounter stronger and more frequent tropical cyclones over the summer months, according to the national climate agency, even after Typhoon Bavi faded over the weekend without causing the widespread flooding that some forecasters had feared. In its latest …
Read More Ships Transit Hormuz in Secret as US and Iran Trade Strikes
A handful of ships have passed through the Strait of Hormuz in secret in recent days, even as observable crossings all but ceased after a flare-up in fighting between the US and Iran. All of the six commodity carriers that …
Read More New York Times Countersues EEOC Over DEI Lawsuit
The New York Times in a court filing on Friday accused the U.S. Equal Employment Opportunity Commission of illegally retaliating against the newspaper for its coverage of President Donald Trump’s administration by suing it for passing over a white man …
Read More Ranking: Who Are the Insurance Industry’s AI Talent, Maturity Leaders?
One out of every 50 employees working at a group of 30 large insurers is an AI specialist, according to an analysis published by a benchmarking firm, which ranks Allianz, AXA and Chubb as AI talent leaders. For London-based Evident, …
Read More Apple Sues OpenAI for Trade Secret Theft in Pivotal Case
Apple Inc. sued OpenAI for trade secret theft, accusing the artificial intelligence startup and its hardware chief of engaging in a coordinated campaign to steal information about upcoming products. The iPhone maker said in a suit Friday that OpenAI encouraged …
Read More UK to Directly Regulate Cloud Service Providers to Protect Stability of Financial Sector
Britain has designated cloud service providers Microsoft, Google, Amazon and Oracle as critical third-party suppliers to its financial sector, bringing them under direct regulatory oversight. The move is aimed at strengthening the resilience of financial firms by reducing the risk …
Read More Remember the Fall of Patriot National? Trial in Suit vs. Mariano’s Lawyers Starts This Week
A few years before the more-recent spate of Florida insurance carrier insolvencies, a workers’ compensation insurer known as Guarantee Insurance Co. was declared insolvent in 2017—a rarity in the usually profitable workers’ comp line of business. Regulators blamed owner Steve …
Read More Company Ordered to Remove Thousands of Wind Turbine Blades in Texas
A Texas district court this week issued a temporary injunction against a wind turbine recycling company that has stockpiled thousands of wind turbine blades at two facilities in Sweetwater. The temporary injunction orders Global Fiberglass Solutions to immediately cease accepting …
Read More Business Moves: MGA Fusion Specialty Acquired by UK Asset Manager Arrow Global; Arthur J. Gallagher Acquires Canada’s Wilson M. Beck Insurance Services
MGA Fusion Specialty Acquired by Asset Manager Arrow Global Arrow Global Group (Arrow), a UK-based investment manager specializing in private credit and real estate, announced its subsidiary Arrow Global Insurance (AGI) has acquired Fusion Specialty Group, a specialist managing general …
Read More Arthur J. Gallagher & Co. Acquires Kansas-Based Med James
Arthur J. Gallagher & Co. announced that its U.S. wholesale brokerage, binding authority and programs division, Risk Placement Services, Inc. (RPS), has acquired Overland Park, Kansas-based Med James, Inc. Terms of the transaction were not disclosed. Med James is a …
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