Posts by Hometown Insurance
Edison Rejects Blame for LA Fire Tied to Tower Idle Since 1971
Edison International’s Southern California utility is urging a Los Angeles judge not to find the company liable for property damages from a 2025 Los Angeles wildfire that destroyed more than 9,400 buildings. Southern California Edison argued in a court filing …
Read More OpenAI Plans to Spend Over $30 Billion on Georgia Data Center
OpenAI plans to spend tens of billions of dollars on a massive new data center near Savannah, Georgia as part of the ChatGPT maker’s push to keep up with surging demand for artificial intelligence software. The startup has contracted with …
Read More Fitch Warns AI Market Correction Emerging as Major Global Credit Risk
The AI boom and the risk of a correction are emerging as major global credit risks, ratings agency Fitch has warned, adding to growing concerns that soaring tech valuations and unprecedented AI spending may be running ahead of uncertain future …
Read More Formula 1 Parent Reaches $3M Settlement in Las Vegas Grand Prix Tickets Suit
Formula 1 parent company Liberty Media, which also promotes the Las Vegas Grand Prix, has agreed to a settlement of about $3 million to end a class-action lawsuit brought by spectators regarding the inaugural 2023 race. The opening-night practice session …
Read More AM Best Calls $1.54 Billion Mapfre-Safety Marriage ‘Strategically Compelling’
Ratings analysts at AM Best see the pending acquisition of Safety Insurance Group by Mapfre as “strategically compelling” as both companies have complementary geographic and product profiles. Last week Safety, a property/casualty insurer in Massachusetts and New England, announced it …
Read More Powerful Quake Hits Southern Japan, Deaths Feared in Shopping Mall Blast
A 7.1-magnitude earthquake hit Japan’s southern Kumamoto prefecture on Tuesday, knocking out power to thousands of homes, rupturing roads and leaving some trapped and others presumed dead inside a partially collapsed shopping mall. Speaking to reporters in Tokyo, Japanese Prime …
Read More eBay Settles Massachusetts Couple’s Harassment, Stalking Claims for $55.7 Million
After six years of civil and criminal charges and proceedings, online shopping company eBay and several former executives will pay a total of $55.7 million to settle claims over a relentless cyberstalking and harassment campaign targeting a Massachusetts couple. In …
Read More Australia’s Origin Energy Says About 900,000 Customers’ Data Accessed in Breach
About 900,000 current and former Origin Energy Ltd. customers had their data accessed in a security breach, the latest in a string of cyberattacks on major Australian companies and essential-service providers. It began examining a possible threat in early July, …
Read More Google Rivals Line Up Seeking Damages After Record $1 Billion EU Fine
A decades-long crackdown on Google’s business practices in Europe is entering a costly new phase, as the loss of the first case brought against it under new EU legislation opens the door to a wave of private lawsuits demanding up …
Read More Tankers Divert to Egypt as Houthi Threat Upends Red Sea Trade
Empty supertankers are heading to Egypt’s Mediterranean port of Sidi Kerir to collect Saudi crude as observable traffic at the kingdom’s key Red Sea export hub dwindles following threats from Houthi militants. At least eight very large crude carriers are …
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