Posts by Hometown Insurance

Fintech firm EquiLend said on Friday some services, including trading and post-trading solutions, had been restored, more than a week after it suffered an outage due to unauthorized access to its systems. EquiLend, a company at the heart of securities …

Insurers are prepared for artificial intelligence to move beyond task automation and machine learning to advanced uses in 2024, a new report examining the industry and how it’s using AI shows. The report from Xceedance, a provider of operations support, …

As hedge funds rake in record profits in one of the riskiest corners of the debt market, the products behind those returns are now drawing in more mainstream investors. Catastrophe bonds, which last year formed the basis for the best-performing …

Consumers will be given greater rights to have goods such as washing machines and smartphones repaired under new rules agreed by the European Union and aimed at reducing waste from defective or broken products simply being dumped and replaced. Along …

North Carolina has a rather unique setup for auto insurance, allowing insurers to place high-risk drivers into the state Reinsurance Facility, a non-profit, state-created pool. That system came under new scrutiny last week, with some state lawmakers questioning if it …

The California Insurance Wholesalers Association (CIWA), a professional trade association focused on California E&S insurance wholesalers, carriers and supporting entities, named four new members to its board of directors. New directors include: Mark Kaufman, regional executive vice president, XPT Specialty …

Liberty Mutual has confirmed it is eliminating about 250 positions, or 0.5% of its global workforce, as it continues implementing new organizational structures within US Retail Markets and Global Risk Solutions units. In an email a spokesperson said some employees …

The European Union’s most stringent ESG rule to date may be scuppered due to eleventh-hour German opposition to the plan. The EU was on track to move forward with the Corporate Sustainability Due Diligence Directive after December, when lawmakers and …

Tobacco giants Philip Morris International Inc. and British American Tobacco Plc settled a series of patent suits that clears a path for both firms to bring their cigarette alternative products to US and European markets. The accord ends legal challenges …

Norway’s most powerful storm in more than three decades ripped off roofs, heightened avalanche risks, canceled flights and cut power as it raged in parts of the Scandinavian country Thursday. Hurricane-force winds brought gusts of up to 180 kilometers (112 …