Posts by Hometown Insurance
UK Insurer Direct Line Rejects Ageas’ Raised Buyout Proposal
British home and motor insurer Direct Line said on Wednesday it had rejected a higher buyout proposal from Belgium-based rival Ageas, saying it “significantly undervalued” the company. Direct Line said in a statement it had received the revised offer on …
Read More UK Is Far From Climate Proof Due to Poor Planning, Officials Say
The UK has failed to prioritize climate adaptation to risks such as floods and heat waves, putting British citizens and critical infrastructure in danger, an official assessment has found. A national adaptation plan, published last July, “falls far short of …
Read More Tesla, Rivals Get Low Marks for Automated-Driving Technology
Tesla’s Autopilot and Full Self Driving technology and nine other assisted-driving systems marketed by major automakers received “poor” ratings from the U.S. Insurance Institute for Highway Safety in a new study released on Tuesday. The IIHS, a safety research arm …
Read More Hedge Fund That Rode Catastrophe Bond Rally Mounts Tactical Retreat
A hedge fund that last year delivered its best result ever thanks to catastrophe bonds is now scaling back its position, based on a bet that the market is headed for a rough patch. Tenax Capital, which has a €100 …
Read More US Natural Gas Pipeline Accidents Pose Big, Unreported Climate Threat
Last October, an Idaho farmer using a backhoe punched a hole into a 22-inch pipeline buried under a field, sending more than 51 million cubic feet of natural gas hissing into the air. While the incident on Williams Companies’ Northwest …
Read More Would-Be Everton Owner 777 Partners Faces Lawsuit Over Asset Transfers
The investment manager trying to buy Everton FC is being sued by a creditor who wants to stop the firm from transferring two subsidiaries, claiming that the transaction was designed to “shield” the assets. Obra Capital said in a New …
Read More Oxendine’s Georgia Fraud Trial Must Finally Start April 15, Federal Judge Says
A former Georgia insurance commissioners’ efforts to dismiss insurance fraud and money laundering charges against him have run their course. John Oxendine must face trial starting April 15, a federal judge has decided. A pretrial conference is set for March …
Read More Nord Stream Sues Insurers in London Over 2022 Pipeline Blasts
Nord Stream is seeking more than 400 million euros ($436 million) from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show. Nord Stream AG names Lloyd’s Insurance Co. and Arch …
Read More People Moves: Stratico Appointed Professional Liability Practice Leader at Brown & Riding
Brown & Riding, headquartered in Dallas, appointed Bill Stratico national professional liability practice leader. Stratico has over 35 years of industry experience. He joined Brown & Riding in 2010 as a management and professional liability broker and most recently served …
Read More People Moves: Reed to Lead Acrisure’s New Great Lakes Region
Acrisure, headquartered in Grand Rapids, Michigan, has established a Great Lakes region, encompassing its businesses in Michigan, Indiana and Ohio. The Great Lakes region is led by long-time partner Kelly Reed. Reed has over 15 years of experience in healthcare, …
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