Posts by Hometown Insurance

SageSure, a managing general underwriter focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned reciprocal exchange, announced the close of the Gateway Re 2024-2 second and subsequent event catastrophe bond at $130 million, with pricing 75 basis …

Upgrading or changing legacy platforms and enterprise software can be a nightmare to disentangle, particularly when dealing with existing operating systems, data storage, and payment processing software. When planning an upgrade, there have historically only been two options: Buy pre-made …

McKinsey & Co is under criminal investigation in the United States over allegations that the consulting firm played a key role in fueling the opioid epidemic, with federal prosecutors homing in on its work advising OxyContin maker Purdue Pharma and …

New legislation aimed at reducing workplace violence in California vastly increases employers’ responsibilities and hands workers’ compensation insurers an unprecedented oversight role that is likely to trigger lawsuits and affect rates and capacity. The Workplace Violence Prevention Bill SB 553, …

Two south Florida lawsuits against property insurers argue that two major carriers have employed a business strategy of hiring inexperienced or even unlicensed claims adjusters after storms, practices that have led to “lowball” damage estimates that fall below deductibles. In …

PCF Insurance Services in Utah closed $400 million in incremental debt financing led by Blue Owl. The financing was materially oversubscribed and was upsized from $300 million to $400 million in response to demand from new and existing lenders. The …

OMAHA, Neb. (AP) — Former Nebraska women’s basketball assistant coach Chuck Love denied ever having a sexual relationship with former Cornhuskers player Ashley Scoggin but acknowledged in a court document that he did meet with her late at night in …

General Motors Co. has ended its OnStar Smart Driver program after customers complained it violated their privacy. OnStar had cut deals with LexisNexis and Verisk to share personal driving data as part of the program, which they then shared with …

Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has appointed Hart Humble to the newly created role of Head of Customer & Broker Engagement (C&BE) for the South Central U.S. Humble has spent more than 30 years in the …

A New York state appeals court has reinstated Chubb insurance companies’ bid for judgments declaring that they are not obligated to cover thousands of sex abuse lawsuits brought against the Archdiocese of New York (ADNY). Chubb insurers have maintained that …