Posts by Hometown Insurance
Russia Reinsurer Backs Domestic Carriers to Get Indian Marine Insurance Permits
Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to facilitate trade with India amid Western sanctions. A …
Read More Global Basel Committee Bolsters Rules for Supervising Banks, Non-Bank Sector
The world’s forum for banking regulators on Thursday tightened up its rulebook to focus better on spotting risks from climate change, the rise of non-banks, and digitalisation of finance. The Basel Committee on Banking Supervision, made up of banking regulators …
Read More Aon Completes $13B Acquisition of Middle-Market Broker NFP
Aon plc said late Thursday that it has completed its $13 billion acquisition of middle-market P/C broker NFP. The purchase price will be funded by $7 billion in cash and $6 billion of Aon stock. Closing was earlier than originally …
Read More ALKEME Acquires Illinois’ Ralph Weiner & Associates
ALKEME announced the acquisition of Ralph Weiner & Associates, a retail insurance agency based in Wheeling, Illinois. Established in 1951, Ralph Weiner & Associates has earned acclaim for its specialized focus on the long-term health care facility space, fostering enduring …
Read More New Jersey Forest Service Says 510-Acre Wharton Wildfire Is 100% Contained
The New Jersey Forest Fire Service said it has reached 100% containment of a 510-acre wildfire in the area of Jackson Rd. in Wharton State Forest. The fire burned in both Waterford Twp, Camden County and Shamong Twp, Burlington County. …
Read More People Moves: XPT Specialty Expands with Industry Veteran
XPT Specialty, headquartered in New Haven, Connecticut, hired Jody Travis as vice president and senior underwriter in its Houston office. Travis has over 30 years of experience in the commercial sector. He most recently served as vice president and senior …
Read More DHL to Pay $8.7M to Settle Race Discrimination Lawsuit in Illinois
Delivery company DHL will pay $8.7 million and be subject to the oversight of a court-appointed monitor to settle a class race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The EEOC charged …
Read More Houston Deputy Dies After Being Hit by Truck While Helping During Accident
HOUSTON (AP) — A deputy who was a 20-year-veteran of a Houston-area sheriff’s office died Tuesday after being hit by a truck while trying to help a driver following a minor crash, according to officials. John Coddou had pulled over …
Read More Chubb CEO Greenberg: Some Financial Lines Underwriting Practices ‘Simply Dumb’
According to Chubb CEO Evan G. Greenberg, the insurance industry’s underwriting practices for a number of financial lines are “simply dumb.” In a call with analysts to discuss Chubb’s earnings for the first quarter, Greenberg said rates for financial lines …
Read More South Carolina Ringleader Sentenced to 8 Years for Staged Accidents
A man that South Carolina authorities have called a ringleader of an insurance fraud ring, who once recruited accomplices while he was in prison, has pleaded guilty to staging accidents and defrauding insurers of more than half a million dollars. …
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