Posts by Hometown Insurance
U.S. Auto Insurers’ Strong Performance to Continue Through 2025: Fitch
More favorable mid-year 2024 results of U.S. personal auto insurers are likely to continue through the end of 2024 and into 2025 due to material price increases and a moderation of claims severity trends “vastly” improving the segment’s profit footing, …
Read More J&J Eyes Texas as Venue for Next Round of Baby Powder Fight
Johnson & Johnson was twice blocked in New Jersey from getting bankruptcy protection from one of its units to resolve billions of dollars in cancer claims tied to baby powder use. For its third try, the company is eyeing Texas, …
Read More UNC Launches Risk Management Institute with IAP’s Ursano Chair of Advisory Board
The University of North Carolina at Chapel Hill announced it is launching an Institute for Risk Management and Insurance Innovation, an interdisciplinary research and innovation center. “The new institute will conduct research that improves our understanding of society’s emerging financial …
Read More Hundreds Able to Return Home After Fleeing Wildfire Along California-Nevada Line
Hundreds of people were allowed to return home this week after being forced to flee a wildfire west of Reno that also shut down Interstate 80 along the California-Nevada line. About 170 firefighters continued to work to secure the perimeter …
Read More Judge Bars Insurers From Going After Defendants Who Agreed to $4B Maui Wildfire Settlement
A Maui judge’s ruling resolves a critical roadblock to finalizing a $4 billion wildfire settlement: Insurance companies who have paid out more than $2 billion in claims can seek reimbursement only from the settlement amount defendants, who victims blame for …
Read More Karen Clark Puts Insured Losses from Debby at $1.4 Billion
Hurricane Debby caused almost $1.4 billion in privately insured losses as it moved across the East Coast this month. That’s about half of the losses incurred in Hurricane Idalia, a stronger storm that followed a similar path almost a year …
Read More High Claims From Medium-Sized Disasters Keep Driving Hard Reinsurance Market
Hard reinsurance pricing conditions are likely to last longer than in previous market cycles mainly as a result of persistently high claims activity from the accumulation of medium-sized disaster losses and secondary perils, according to an AM Best report. As …
Read More US Undercounts Bird Flu in Cattle as Farmers Shun Testing
The U.S. bird-flu outbreak in dairy cattle is much larger than official figures suggest due to farmers’ reluctance to test their animals and risk the economic consequences of a positive result, according to Reuters interviews with dairy experts, veterinarians, and …
Read More Severe Typhoon to Disrupt Flight, Train Services in Japan
Hundreds of flights and some bullet train services will be suspended as Typhoon Ampil makes its way toward Japan’s main island Friday, impacting travel plans during the country’s annual summer break. Japan Airlines Co. canceled 28 international flights bound for …
Read More Hurricane Ernesto Threatens Bermuda, Leaves Puerto Rico in Dark
Hurricane Ernesto took aim at Bermuda as almost half of Puerto Rico remained without power in the storm’s wake, the island’s fragile electric grid battered by high winds. Officials declared a hurricane watch for Bermuda, saying Ernesto could strike the …
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