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Posts by Hometown Insurance

Athens Braces for Wildfire Flare-Ups as High Winds Threaten

By Hometown Insurance | August 13, 2024
Greek firefighters are bracing for an increase in wind speeds on Tuesday afternoon, after partly containing a huge wildfire on the outskirts of Athens. The biggest blaze of the summer started northeast of the capital Sunday, fueled by strong winds, …
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Ford, Mazda Advise Against Driving Certain Models Over Takata Airbag Concerns

By Hometown Insurance | August 13, 2024
Ford Motor and Mazda issued advisories to drivers of certain vehicles still affected by faulty Takata airbags and inflators that can cause potentially severe or fatal injuries. The National Highway Safety Administration has previously warned that air bag inflators could …
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Manufacturers Hit by Soaring Property Insurance Costs

By Hometown Insurance | August 13, 2024
James Kirsh expects the cost of the property and casualty insurance for his family-owned foundry in Wisconsin that makes cast iron parts for tractors and other equipment to at least double when it’s up for renewal this fall. He’s been …
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Insured Losses From UK Riots Will Be Manageable, With Claims Below £250M: Report

By Hometown Insurance | August 13, 2024
Insured losses from recent riots in the United Kingdom are expected to remain at manageable levels with a limited impact on insurers’ credit profiles, according to credit agency Morningstar DBRS, in a market commentary. The main reason for manageable claims …
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Report: 10 of Top U.S. Metros at Moderate to Very High Risk of Wildfire Are in California

By Hometown Insurance | August 13, 2024
Ten of the top 15 metropolitan areas for wildfire risk concentration are in California, while more than 2.6 million homes across 14 states with a total reconstruction cost of $1.3 trillion are at moderate to very high risk of wildfire …
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House Explosion in Maryland Kills 2 and Damages Nearby Homes

By Hometown Insurance | August 13, 2024
Two people were killed and 12 families displaced after a Maryland house exploded Sunday amid reports of a possible gas leak, fire officials said. Neighbors described feeling and hearing the early morning blast that damaged a number of surrounding houses …
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Thailand Races to Stop Toxic Waste Cargo on MSC, Maersk Ships

By Hometown Insurance | August 13, 2024
Thai authorities are racing to stop about 100 shipping containers allegedly filled with hazardous industrial waste from Albania reaching the nation’s ports. Basel Action Network, a US-based nonprofit that tracks toxic trade which precarviously alerted Malaysia to illegal e-waste shipments, …
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Tech Update: Hiscox Launches GenAI-Powered Lead Underwriting Platform

By Hometown Insurance | August 13, 2024
Hiscox, the global specialist insurer, has launched the London insurance market’s first lead underwriting platform enhanced by generative AI, aiming to provide sabotage and terrorism insurance quotes to customers faster and more efficiently than ever before. Initially developed as a …
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UK Cyber Spies Plan AI ‘Lab’ to Counter Hostile State Threats

By Hometown Insurance | August 13, 2024
UK spies are stepping up efforts to tackle cyber and artificial intelligence threats from hostile foreign states, including the sort of online manipulation that helped foment rioting across the country in the past 10 days. GCHQ, the UK’s national security …
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Swiss-Based Engineering Firm Schlatter Says IT Network Affected by Cyberattack

By Hometown Insurance | August 13, 2024
Schlatter Industries’ network was attacked with malware on Friday and it can be assumed this was a professional attack, the Switzerland-based company said on Monday. The group was hit on Friday by a cyberattack using malware, and the unknown perpetrators …
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