Posts by Hometown Insurance
TWIA Actuarial Committee Recommends 10% Rate Increase for 2025 Policies
The Texas Windstorm Insurance Association Actuarial & Underwriting Committee voted on Monday, July 15 to recommend that the TWIA Board of Directors approve a rate filing to increase rates by 10% for 2025 residential policies and by 10% for 2025 …
Read More Michigan Health Care System to Pay $30K Over Racial Discrimination Suit
Beaumont Health (now Corewell Health), a health care system in southeast Michigan, will pay $30,000 and furnish other relief to settle a race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to …
Read More Marathon Oil Reaches $241M Settlement for Air Quality Violations in North Dakota
The federal government announced a $241.5 million settlement with Marathon Oil last week for alleged air quality violations at the company’s oil and gas operations on the Fort Berthold Indian Reservation in North Dakota. The Environmental Protection Agency and Department …
Read More CenterPoint Sued Over Hurricane Beryl Power Outages in Houston
A group of Houston restaurants that lost power for days after Hurricane Beryl sued the city’s main utility, accusing CenterPoint Energy Inc. of failing to adequately invest in infrastructure and respond to widespread power outages. The lawsuit, filed by various …
Read More Families of Workers Killed in Idaho Airport Hangar Collapse Sue Construction Company
The families of two construction workers killed when an airport hangar in Idaho collapsed are suing several companies that were involved in the building process, alleging the businesses recklessly cut corners and used inappropriate materials for the build. The private …
Read More Progressive Q2 Net Income Skyrockets Over 320%
Progressive Corp. today reported second quarter 2024 results of about $1.5 billion and a combined ratio of 91.9. Results for the Mayfield Village, Ohio-based insurer are in comparison to second quarter 2023 net income of $345.4 million and a combined …
Read More PwC Weighs Halving of China Financial Services Audit Staff, Sources Say
PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken business prospects. The move follows Chinese regulators’ …
Read More People Moves: Florida Peninsula Holdings Makes Cantor Vice Chair of Board
Florida Peninsula Holdings and Windward Holdings, which together own and manage Florida Peninsula Insurance Co., Edison Insurance and Ovation Home Insurance Exchange, has named is co-founder vice chairman of the board. Gary Cantor, who, along with Paul Adkins, CEO of …
Read More Toronto’s Traffic Crisis Is Keeping Workers Out of the Office, Poll Says
Traffic is so bad in Canada’s financial capital that a majority of Toronto residents are prepared to endure around-the-clock construction to improve the situation sooner, according to new polling data. A survey commissioned by the Toronto Region Board of Trade …
Read More People Moves: AIG Names Twiningdavis EVP, Chief Administrative Officer; Lopez joins CFC USA as Senior Executive Underwriter
AIG Names Twiningdavis Executive Vice President, Chief Administrative Officer American International Group, Inc. (AIG), named Melissa Twiningdavis executive vice president and chief administrative officer, effective September 1. She will join AIG’s executive leadership team and be based in New York. …
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