Posts by Hometown Insurance
Collapsed Crypto Exchange FTX Flags Millions of Dollars of Unauthorized Transactions
Crypto exchange FTX was engulfed in further chaos on Saturday when the company said it had detected unauthorized transactions and analysts flagged that millions of dollars of assets had been moved from the platform in “suspicious circumstances.” FTX filed for …
Read More Judge Orders Alex Jones to Pay $473M More to Sandy Hook Families
Infowars host Alex Jones and his company were ordered by a judge Thursday to pay an extra $473 million for promoting false conspiracy theories about the Sandy Hook school massacre, bringing the total judgment against him in a lawsuit filed …
Read More Aon Buys Mexico’s ERN, Expanding Its LatAm Catastrophe Modeling Capabilities
Aon plc, the global professional services firm, expands its catastrophe modeling and consultancy capabilities in Latin America with the acquisition of ERN (Evaluación de Riesgos Naturales), a Mexico-based leader in risk assessment modeling. Financial details of the deal were not …
Read More UK Government Rushes to Outline Proposed Power to Overrule Financial Regulators
The UK government is rushing to outline a proposed power to overrule the City of London’s financial regulators, as it tries to avoid accusations that the move is an attack on their independence. The power is due to be added …
Read More 3 Australian Banks Settle Class Action Lawsuits Over Sale of Credit Insurance Products
Three of Australia’s “big four” banks settled separate class action lawsuits for A$126 million ($84.51 million) with Slater & Gordon, who took the banks to court two years ago over sale of credit insurance products, the companies said on Monday. …
Read More Half a Million UK Workers Drop Out of Workforce Citing Long-Term Illness, Mental Health Problems
The number of people who have dropped out of Britain’s job market since 2019 and who now cite a long-term illness or mental health problems has risen by half a million or about 25%, the Office for National Statistics (ONS) …
Read More Elizabeth Holmes Should Get 15 Years’ Prison for Fraud, US Says
Former Theranos Inc. Chief Executive Officer Elizabeth Holmes should spend 15 years in prison for committing one of the most serious white-collar crimes in Silicon Valley history, prosecutors told the judge who will sentence her. In a request filed late …
Read More Abortions, Drug Use Exposed in Cyber Attack on Australian Health Insurer Medibank
When the Australian health insurer Medibank Private Ltd. was hit with a ransomware attack last month, it provided regular updates to its customers, including the revelation that personal information from nearly 10 million of them was exposed. It also followed …
Read More UPC Reports $173M Loss for Q3, Begins Personal Lines Non-Renewals Start Jan. 1
The parent company of United Property & Casualty Co., already working to close up shop in Florida and other states after years of financial setbacks, reported a $173 million net loss for the third quarter of this year. The publicly …
Read More Nicole’s Insured Losses Less than $1B, but Some Florida Homes Washed into the Sea
Insured losses from Hurricane Nicole, a category 1 storm that came ashore on Florida’s east coast last week, will be no more than $750 million, a fraction of the level of losses caused by Hurricane Ian six weeks earlier, CoreLogic …
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