Posts by Hometown Insurance
Fast-Growing California Wildfire Threatening 35,000 Structures
A fast-growing wildfire in Southern California, has burned 27 square miles, forcing thousands to evacuate had is putting roughly 35,000 homes and buildings at risk. The Line fire near San Bernardino more than quadrupled in size over the weekend, prompting …
Read More Commerce Department Looks to Require Reporting for AI, Cloud Providers
The U.S. Commerce Department said Monday it is proposing to require detailed reporting requirements for advanced artificial intelligence developers and cloud computing providers to ensure the technologies are safe and can withstand cyberattacks. The proposal from the department’s Bureau of …
Read More Google’s Ad Empire Under Fire With US Antitrust Trial to Begin
Alphabet Inc.’s Google heads back to court Monday to face US Justice Department allegations that it manipulates the $677 billion display advertising market in violation of antitrust laws, just one month after losing a landmark ruling that it illegally dominates …
Read More People Moves: BMS Re Names Mirabal Latin American and Caribbean CEO; Zurich Asia Pacific Hires Heads of Financial, Casualty Lines
Specialty reinsurer BMS Re announced the appointment of Anthony Mirabal as CEO of the Latin America and Caribbean (LAC) Division, effective November 2024. Mirabal has more than 30 years of experience in reinsurance, first as a casualty underwriter with Gen …
Read More Viewpoint: Reinsurers Reach Peak Performance as Market Stabilizes; M&A on Hold
The reinsurance market has reached an equilibrium, with increased capital supply from accumulated earnings meeting higher demand for reinsurance protection from cedents. As such, margins will peak in 2024, although reinsurers should continue to produce a favorable return on equity …
Read More Coalition Starts Reinsurance Intermediary Coalition Re Led by Aspen Capacity
Coalition today announced the creation of its reinsurance intermediary, Coalition Re, to provide capacity for cyber reinsurance treaties and expand on its mission to protect more unprotected businesses. Coalition Re provides capacity for non-proportional cyber reinsurance treaties, as well as …
Read More Hertz Tower Demolition Marks End of Hurricane-Damaged Landmark in Lake Charles
BATON ROUGE, La. (AP) — An abandoned, 22-story building in Lake Charles, Louisiana — once an icon in the city that became a symbol of destruction from hurricanes Laura and Delta — was imploded Saturday after sitting vacant for nearly …
Read More Single-Engine Plane Crash in Indiana Kills 4
ANDERSON, Ind. (AP) — A single-engine plane traveling from Iowa to Indiana crashed in a central Indiana cornfield Friday, killing everyone on board, authorities said. The plane left Fort Dodge, Iowa, just after 6:45 a.m. and was projected to land …
Read More Wisconsin Officials Recall Eggs After Salmonella Outbreak
Wisconsin health officials initiated a recall of eggs following an outbreak of salmonella infections among 65 people in nine states that originated on a Wisconsin farm. The Wisconsin Department of Health Services said in a statement Friday that among those …
Read More Zurich, Marsh McLennan Call for Public Partnerships Close Cyber Gaps
A new report from Marsh McLennan and Zurich titled “Closing the cyber risk protection gap” is calling for a closer collaboration between the insurance industry and the public sector as cyber insurance coverage gaps remain. “Both the insurance industry and …
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