Posts by Hometown Insurance
S. Korea Braces for Strongest Typhoon in Nation’s History With Major Damage Expected
South Korea is bracing for the strongest storm in the nation’s history with Super Typhoon Hinnamnor forecast to hammer its southern coastal areas next week. The worst of the typhoon is forecast Monday or Tuesday when the weather system is …
Read More Sompo International Sells Run-off Business at Lloyd’s to Legacy Specialst RiverStone
Sompo International, the Bermuda-based provider of commercial and consumer property and casualty re/insurance, announced the sale of its Endurance at Lloyd’s (EAL) run-off business to RiverStone Holdings Ltd., the legacy specialist. The deal completes the company’s previously communicated objective to …
Read More People Moves: Sompo Int’l Taps Zurich’s Brand as President, Continental Europe; HDI Global Specialty Promotes Candi in Italy Branch; DUAL APAC Promotes 2 Execs
This edition of International People Moves details appointments at Sompo International, HDI Global Specialty, and DUAL Asia Pacific. A summary of these new hires follows here. Sompo International Taps Zurich’s Brand as President, Continental Europe Sompo International, the Bermuda-based re/insurer, …
Read More New York Launches $6.5M Fund for ‘Clean Tech’ Insurance Products; Seeks Program Manager
New York Governor Kathy Hochul announced a $6.5 million program to support Insurance Innovation for climate-technologies, a new program focused on the research and development of new insurance policies and products that will “promote the adoption of clean technologies” across …
Read More South Carolina Burger Kings Fined, Agree to Changes Over Child Labor Violations
The owner of nine Burger King franchises in South Carolina has agreed to improve working conditions for minors employed at the restaurants, resolving an action brought by the U.S. Department of Labor. The department announced Thursday that Applegreen USA Central …
Read More OSHA Says Wells Fargo Owes Former Exec $22M for Improper Firing
A former Wells Fargo executive is due $22 million after an investigation by the Occupational Safety and Health Administration (OSHA) concluded the bank violated whistleblower protections under the Sarbanes-Oxley Act. The amount owed includes back wages, interest, lost bonuses and …
Read More Brazilian Reinsurer IRB Raises $228.9M in Share Offering
Brazilian reinsurer IRB Brasil Resseguros SA confirmed late on Thursday it had raised 1.2 billion reais ($228.9 million) in a share offering, after successive monthly losses led analysts to raise alerts on its capital sufficiency. The company priced its offering …
Read More South Carolina State Workers Will Soon Get Six Weeks Paid Parental Leave
Starting in October, state employees in South Carolina are entitled to six weeks of parental leave after giving birth or adopting children. Surrounded by Republican and Democratic lawmakers who worked together to pass the bill, Republican Gov. Henry McMaster held …
Read More Marsh McLennan Acquires South Carolina Agency
Marsh McLennan Agency, a subsidiary of Marsh, has acquired Steinberg & Associates, an independent agency based in Spartanburg, South Carolina. Steinberg, founded in 1969, offers employee health and benefits, estate planning and other services to businesses and residents in the …
Read More G7 Expected to Advance Russia Oil Price Cap Plans With Insurance Playing Key Role
Group of Seven finance ministers are expected to firm up plans on Friday to impose a price cap on Russian oil aimed at slashing revenues for Moscow’s war in Ukraine but keeping crude flowing to avoid price spikes, G7 officials …
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