Posts by Hometown Insurance
Biden Overtime Pay Rule Challenged by US Business Groups
A coalition of U.S. business groups has filed a lawsuit seeking to block a Biden administration rule that would extend mandatory overtime pay to 4 million workers, saying it goes too far. The groups filed a complaint in U.S. District …
Read More US Home Insurers Post Net Combined Ratio Over 110: S&P
The U.S. homeowners insurance segment posted its worst underwriting results in over a decade in 2023, according to an analysis by S&P Global Market Intelligence. The net combined ratio for the homeowners business, excluding policyholders’ dividends, was 110.5 in 2023, …
Read More New York’s High Court Upholds Insurance Mandate for Medically Necessary Abortions
New York can continue to require companies with health insurance plans to cover medically necessary abortions, the state’s highest court ruled Tuesday. The Roman Catholic Diocese of Albany and other church groups challenged the rule, arguing that the policy’s exemption …
Read More SEC Fines NYSE Parent Intercontinental Exchange $10M Over Cyber Incident
The company that runs global financial exchanges and clearing houses has agreed to a $10 million fine to settle charges it delayed notifications of a cyber intrusion about 3 years ago. The U.S. Securities and Exchange Commission (SEC) on May …
Read More New Cars in California Could Alert Drivers for Breaking The Speed Limit
California could eventually join the European Union in requiring all new cars to alert drivers when they break the speed limit, a proposal aimed at reducing traffic deaths that would likely impact motorists across the country should it become law. …
Read More UK’s Aviva Posts 16% Rise in Q1 General Insurance Premiums
Aviva posted a 16% rise in general insurance gross written premiums to 2.7 billion pounds ($3.44 billion) in the first quarter, helped by strong performance in Britain. Life and general insurer Aviva, which has its main operations in Britain, Canada …
Read More People Moves: Canopius Names Haste as Group Chairman, as Watson Steps Down
Canopius, the global specialty and property/casualty re/insurer, announced it has appointed Andy Haste as its new group chairman with effect from July 1, 2024. He will assume responsibility for chairing the group board as Canopius embarks on realizing its future …
Read More Axis Insurance Managers Acquires Canadian Broker Magnes Group
Axis Insurance Managers Inc., the Vancouver, Canada-headquartered brokerage, announced it has acquired The Magnes Group Inc. Axis Insurance said it made its initial investment in Magnes in 2015. Financial details of the transaction were not disclosed. Founded in 1933, Magnes …
Read More These Flight Routes Suffer the World’s Worst Turbulence
The deadly turbulence on a Singapore Airlines Ltd. flight on its way from London to Singapore has put a spotlight on the world’s most unstable air routes. A British man was killed and seven other people were critically injured after …
Read More Markets/Coverages: Lockton Caribbean & Central America Launches Food, Agriculture & Beverage Broking Practice
Lockton Caribbean & Central America (CCA) announced the launch of CCA FAB, the insurance broking industry’s first Food, Agriculture & Beverage practice that focuses exclusively on the region. The new Food, Agriculture & Beverage practice will deliver tailor-made insurance solutions …
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