Posts by Hometown Insurance
Survey: US Business Owners Seek More Insurance Coverage as AI, Election Risks Loom
Artificial intelligence and U.S. election have emerged as significant risks to businesses this year with an overwhelming 80% of owners worried their insurance will not cover a specific loss, a survey by insurance brokerage Gallagher showed on Wednesday. Companies are …
Read More Insurance Broker Witness at Menendez Bribery Trial Faced Tough Cross-Examination
The prosecution’s prized turncoat witness at the bribery trial of U.S. Sen. Bob Menendez was politely combative Tuesday as defense lawyers tried to poke holes in his testimony and portray him as a habitual liar. Jose Uribe spent a third …
Read More Major Defense Contractor Accused of Discriminating Against Older Workers
A major defense contractor was sued Tuesday over allegations that it discriminated against older workers in job ads. The lawsuit filed in federal court in Boston accuses RTX Corporation of posting ads that target younger workers at the expense of …
Read More Specialist Risk Group’s MGA, MX, Agrees to New Long-Term Capacity Arrangement
Specialist Risk Group, the London-based insurance intermediary, announced that its managing general agent, MX, has agreed to a new capacity agreement with program manager Accredited Insurance (Europe) Ltd. (AIEL). AIEL is supported by a panel of “A” rated reinsurers, said …
Read More Canada’s Largest School Board Targeted by Ransomware Attack
Canada’s largest school district is investigating a cyber incident, adding to a series of ransomware attacks that have caused disruptions to companies and public institutions in the country. The Toronto District School Board alerted parents Wednesday in an emailed letter, …
Read More Commodity Ship Hit by Drone Near Yemen Is Taking on Water
A commodity carrier was taking on water after being hit by a drone near Yemen, the latest incident underscoring the dangers of sailing through the Red Sea region. The UK Navy said Wednesday that a ship was hit by a …
Read More Zombies: Ranks of World’s Most Debt-Hobbled Firms Soaring, and Not All Will Survive
They are called zombies, companies so laden with debt that they are just stumbling by on the brink of survival, barely able to pay even the interest on their loans and often just a bad business hit away from dying …
Read More Most US Drivers Support Anti-Speeding Technology in Vehicles: IIHS Survey
More than 60% of the drivers in the United States would find it acceptable if their vehicle provided an audible and visual warning when they exceeded the posted speed limit, a survey by Insurance Institute for Highway Safety showed on …
Read More US E&S Growth Slower in 2023; Berkshire, AIG Top Premium Rankings
An analysis by S&P Global Market Intelligence reveals that the pace of growth in the U.S. excess and surplus lines market has slowed since a peak growth rate of 32.3% recorded in 2021. In 2023, growth remained robust—and up in …
Read More SpaceX Sued by Engineers Fired After Accusing Elon Musk of Sexism
Rocket maker SpaceX and its CEO Elon Musk were sued on Wednesday by eight engineers who say they were illegally fired for raising concerns about alleged sexual harassment and discrimination against women. The engineers—four women and four men—claim Musk ordered …
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