Posts by Hometown Insurance
Meta Settles With Australia’s Privacy Watchdog Over Cambridge Analytica Lawsuit
Meta Platforms has agreed to a A$50 million settlement ($31.85 million), Australia’s privacy watchdog said on Tuesday, closing long-drawn, expensive legal proceedings for the Facebook parent over the Cambridge Analytica scandal. The Office of the Australian Information Commissioner had alleged …
Read More Ex-West Virginia School System Official Charged With Stealing $3.4 Million
CHARLESTON, W.Va. (AP) — A former maintenance director of a southern West Virginia county school system was charged in a scheme to steal about $3.4 million from a local board of education. Michael David Barker appeared in court Wednesday after …
Read More Toyota to Add $922M Paint Facility at Large Kentucky Complex
GEORGETOWN, Ky. (AP) — Toyota plans to build a new paint facility as part of a $922 million investment at its factory complex in Georgetown, Kentucky, making it the second big addition announced this year at the automaker’s largest manufacturing …
Read More Becton Dickinson to Pay $175 Million to Settle SEC Probe
Becton, Dickinson & Co. has agreed to a $175 million fine over Securities and Exchange Commission claims it repeatedly misled investors about one of its most important products. The regulator said Becton Dickinson was aware an infusion pump it manufactured …
Read More ConnectUW Holdings Opens for Business at Lloyd’s
ConnectUW Holdings, the parent company of Connect Underwriting and other specialist reinsurance MGAs, announced it will take ownership of Lloyd’s box number 356 from Dec. 23, 2024. Situated in the company market section on Gallery 3, ConnectUW will initially offer …
Read More DAC Beachcroft Expanding Into US With 2 New Offices
Law firm DAC Beachcroft said it is expanding into the U.S. with offices in New York and Los Angeles. Insurance specialists Lawrence Klein and Gilbert Lee will join UK-based DACB as partners from law firm Robinson+Cole. They provide advice to …
Read More AXIS to Transfer $2.3B of Reinsurance Reserves to Enstar in Boost to Specialty Focus
AXIS Capital Holdings Ltd. and Enstar Group Ltd. announced they have entered into a loss portfolio transfer (LPT) reinsurance agreement, which will retrocede $2.3 billion of AXIS’s reinsurance reserves. Structured as a 75% ground-up quota share, the LPT reinsurance agreement …
Read More People Moves: Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter; Chubb Promotes Latter to Lead Claims for Overseas General Insurance
This edition of International People Moves details appointments at Arch Insurance and Chubb Overseas General. A summary of these new hires follows here. Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter Arch Insurance has appointed Ezechiel Symenouh …
Read More People Moves: Spot Insurance Names Hamann as CEO
Spot Insurance, headquartered in Austin, Texas, appointed Joel Hamann as CEO. Hamann joined Spot in 2021 and most recently served as vice president of finance. He previously served as director of finance, technology and several other roles at Kohl’s Corporation. …
Read More TWIA Anticipates Higher Reinsurance Spending in 2025
The Texas Windstorm Insurance Association expects to spend more on reinsurance in 2025 to account for projected policy count and exposure growth and losses to the association’s catastrophe reserve trust fund (CRTF) arising from Hurricane Beryl. TWIA’s board of directors …
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