Posts by Hometown Insurance
FTX Investors Settle With Bankman-Fried to Pursue Promoters
A group of FTX investors and customers has agreed to drop their claims against co-founder Sam Bankman-Fried in exchange for his cooperation against other defendants in a sprawling set of lawsuits over the cryptocurrency exchange’s collapse. The agreement, if approved …
Read More People Moves: McDonnell Succeeds Bridge as President of Vermont Mutual
The Vermont Mutual board of directors named Mark J. McDonnell president of Vermont Mutual Insurance Group. McDonnell is the 18th president, succeeding former president and current CEO Daniel C. Bridge, who will retire at the end of 2024. McDonnell joined …
Read More TN VW Employees Vote Overwhelmingly to Join United Auto Workers Union
CHATTANOOGA, Tenn. (AP) — Employees at a Volkswagen factory in Chattanooga, Tennessee, overwhelmingly voted to join the United Auto Workers union Friday in a historic first test of the UAW’s renewed effort to organize nonunion factories. The union wound up …
Read More Why New York Attorney General Objects to Trump’s Bond Insurer
New York’s attorney general has urged the state judge overseeing the state’s civil fraud case against Donald Trump to reject the former president’s $175 million appeal bond. Attorney General Letitia James objects to Knight Specialty Insurance Co. (KSIC) as the …
Read More Wells Fargo Bond Saleswoman Sues Over ‘Unapologetically Sexist’ Workplace
Wells Fargo was accused of sex discrimination in a lawsuit by a bond saleswoman who said the fourth-largest U.S. bank denied pay and promotions available to men and tolerated an “unapologetically sexist” workplace. The complaint filed on Friday in federal …
Read More Third Channel to Baltimore Port Opens as Bridge Collapse Recovery Efforts Continue
A third temporary channel for boats to enter and depart the Port of Baltimore has opened, expanding further shipping access as collapsed sections of the Francis Scott Key Bridge are salvaged before the span can ultimately be rebuilt. The alternate …
Read More AIG General Insurance Chairman McElroy to Retire May 1
American International Group (AIG) today announced a top executive will retire in less than two weeks. David McElroy will retire from AIG on May 1. “Mr. McElroy has agreed with AIG to accelerate his retirement date for personal reasons and …
Read More Strong Prices Support London Market Profits, Prompting Revision in AM Best Outlook
The strong pricing environment for most business lines written in the London insurance market is expected to support good underwriting profitability – factors that have led AM Best to revise its outlook for the segment to positive from stable. Further, …
Read More Walgreens to Pay $110M to End Philadelphia Opioid Litigation
The city of Philadelphia has reached a $110 million settlement of its 2021 lawsuit against Walgreens pharmacy for the company’s role in supplying and perpetuating the opioid addiction crisis in Philadelphia. Under the terms of the agreement, Walgreens admits no …
Read More World’s Workers Increasingly at Risk as Climate Changes: Int’l Labour Organization
More than 70% of the global workforce is exposed to risks linked to climate change that cause hundreds of thousands of deaths each year, the International Labour Organization said on Monday, adding governments would need to act as the numbers …
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