Posts by Hometown Insurance
Post-Brexit Insurance Reform Expected Before December: BoE’s Woods
The Bank of England sought on Monday to allay fears among insurers that it was dragging its feet over a long-trailed and disputed reform of their capital rules, saying a “very good sense” of the changes would emerge well before …
Read More US ‘Strike Force’ to Thwart Theft or Use of Disruptive Technology
US enforcement agencies are forming a “strike force” to combat adversaries trying to steal advanced technology, hack for financial gain or use new tools to collect intelligence. The move comes as government officials are grappling with how to respond to …
Read More Buttigieg Urges U.S. Railroads to Boost Safety, Not Oppose Reforms
U.S. Transportation Secretary Pete Buttigieg said Sunday he would call on major railroads to improve safety after a Feb. 3 derailment in East Palestine, Ohio, of a train operated by Norfolk Southern. Buttigieg in a letter to Norfolk Southern Chief …
Read More High-Rise Fire in Maryland Kills One, Displaces 400 Residents
One person died and one is in critical condition after a fire early Saturday at a high-rise apartment building in a suburb of Washington, D.C., the Washington Post and other local media reported. The fire in downtown Silver Spring sent …
Read More Lockton Launches Affinity Biz in Australia, New Zealand and Pacific, Led by Dasgupta
Lockton, the world’s largest privately owned insurance brokerage, announced the launch of an Affinity Schemes business in Australia, New Zealand and Pacific. The business will be led by Tanya Dasgupta who recently joined Lockton as National Manager – Affinity Schemes …
Read More UK’s Legal & General Launches Fresh UK Lawsuit Against Glencore After Bribery Scandal
Legal & General Group Plc have launched a fresh lawsuit against Glencore Plc, months after the commodities giant pleaded guilty to allegations of market manipulation and bribery. A group of Legal & General funds filed claims against Glencore on Jan. …
Read More FWD to Buy Majority Stake in Malaysian Insurer Ahead of Planned IPO
FWD Group Holdings Ltd., the pan-Asian insurance company owned by Hong Kong billionaire Richard Li, has agreed to buy a majority stake in Gibraltar BSN Life Bhd., a move that allows it to tap into the Southeast Asian market’s growth …
Read More Orderly Runoff Didn’t Work. Florida’s United P&C Now Insolvent, Headed for Liquidation
Just days after some 90,000 policies from troubled United Property & Casualty Insurance Co. were transferred to Slide Insurance as part of a wind-down of the carrier, it was announced that UPC is officially broke and will soon be liquidated. …
Read More Washington Man Ordered to Repay $127K in Workers’ Comp Scam
A Washington contractor who claimed he was too injured to work despite reportedly running his own construction company was ordered to pay back the state more than $127,000. Daniel Joseph Lesieur, of Washougal, pleaded guilty to felony second-degree theft for …
Read More Nevada Supreme Court Upholds Temporary Ban on Insurers Using Credit Scores
The Nevada Supreme Court upheld the Nevada Division of Insurance’s temporary ban on using credit information to help set insurance rates. The division in 2020 imposed the temporary ban, concluding that the pandemic had a disproportionately negative impact on policyholders’ …
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