Posts by Hometown Insurance
Acrisure Acquires UK-Based Sutton Winson and Sutton Specialist Risks
Acrisure, the Grand Rapids, Mich.-based insurance broker and fintech specialist, announced the acquisitions of Sutton Winson and Sutton Specialist Risks (SSR), in the UK. The deals are expected to close in the near term, pending FCA regulatory approvals. Financial details …
Read More Federal Court Finds Pennsylvania Poultry Farm in Contempt Over OSHA Penalties
A federal court has found Birdsboro Kosher Farms Corp. in contempt for failing to pay $162,359 in penalties after an inspection by the Occupational Safety and Health Administration found numerous safety hazards. The U.S. Court of Appeals for the District …
Read More Brown & Brown’s Q3 Earnings Fail to Meet Analysts’ Expectations
Brown & Brown Inc. (BRO on the NYSE) on Monday reported third-quarter net income of $161.1 million. The Daytona Beach-based company, one of the largest insurance brokerages in the country, said it had a profit of 57 cents per share. …
Read More Harvard, UNC Race-Based Admissions Cases Put Supreme Court Justices on Collision Course
A showdown over college affirmative action at the US Supreme Court next week pits the court’s liberal wing against Chief Justice John Roberts and his dream of a constitutional ban on racial preferences. The court will hear arguments Monday on …
Read More Russia’s Threat to ‘Strike’ Western Satellites Tests Laws of War in Space
A Russian official’s threat this week to “strike” Western satellites aiding Ukraine highlights an untested area of international law, raising concerns among space lawyers and industry executives about the safety of objects in orbit. “Quasi-civilian infrastructure may be a legitimate …
Read More Credit Suisse to Sell Most of Securitized Product Unit to Apollo, PIMCO
Credit Suisse Group AG has signed an exclusivity agreement with a group of investors led by Apollo Global Management Inc. to sell the bulk of its securitized products group business. If the deal happens, the group, which also includes Pacific …
Read More Swiss Re Posts Q3 Loss on Hit From Hurricane Ian, Signals Price Hikes
Swiss Re reported a third-quarter loss of $442 million driven by claims tied to the damage from hurricane Ian, and signaled that renewal prices would jump next year. The Zurich-based reinsurer’s key unit saw $2.5 billion in claims related to …
Read More Turning London’s Financial Center Into ‘Wild West’ Would Be Self-Defeating: BoE’s Woods
Turning the City – London’s financial district – into a “Wild West“ to attract more business after Brexit would be self-defeating as maintaining financial stability is key to competitiveness, Bank of England Deputy Governor Sam Woods said on Thursday. Britain’s …
Read More Dubai Aerospace Sues 11 Insurers, Including Lloyd’s, AIG, Chubb, for Jets Stuck in Russia
Aircraft leasing firm Dubai Aerospace Enterprise (DAE) has filed a London lawsuit against 11 insurers, including Lloyd’s of London, AIG, Chubb and Swiss Re, two months after it wrote off almost $600 million for 19 aircraft stuck in Russia. The …
Read More Anger Building over Delays in Replacing Faulty CPAP Devices
A massive recall of millions of sleep apnea machines has stoked anger and frustration among patients, and U.S. officials are weighing unprecedented legal action to speed a replacement effort that is set to drag into next year. Sound-dampening foam in …
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