Posts by Hometown Insurance

Allstate reported about $641 million in August catastrophe losses from 18 events, with about half coming from the Maui wildfire. The losses for the month of August were $551 million or $435 million, after-tax, partially offset by favorable reserve reestimates …

Insurtech homeowners insurer Openly said has raised $100 million in Series D funding, led by Eden Global Partners. There was additional participation in the round from a mix of current and new investors including Gradient Ventures, Clocktower Technology Ventures, Trinity …

California lawmakers, union leaders and truck drivers are trying to steer Democratic Gov. Gavin Newsom toward signing into law a proposal that could save jobs as self-driving trucks are tested for their safety on the roads. The legislation would ban …

Global specialty P/C insurer AmTrust Financial Services introduced a new admitted lawyers professional liability policy from AmTrust PRO for mid-sized law firms. “In today’s competitive and complex legal environment, even a small error or simple oversight by an individual attorney …

The death of a 19-year-old Florida worker could have been prevented if a concrete pipe maker had ensured that employees followed proper safety procedures, the U.S. Occupational Safety and Health Administration said. OSHA cited Foley Products Co., based in Georgia, …

MGM Resorts said on Wednesday its hotels and casinos were back to normal operations but it was working to resolve issues at its luxury Excalibur hotel and casino in Las Vegas, over a week after a cyberattack disrupted its systems. …

The maritime industry is exploring whether nuclear fuel can be used to power commercial ships as advancements in technology open up such options, industry officials said. Nevertheless, any possible nuclear fuel solutions for ships are at least 10 years away …

Conduit Re, the Bermuda-based global reinsurer, is achieving end-to-end underwriting with pricing decision intelligence (PDI) company hyperexponential. Using the PDI platform, hx Renew, Conduit Re is now able to rapidly develop and iterate its pricing models and rating landscape. Conduit …

The low-pressure weather system that unleashed unprecedented amounts of rain across the eastern Mediterranean last week was made more likely and more intense by climate change. Global warming caused by human emissions of greenhouse gases made the heavy rainfall over …

Jet engine maker CFM International said on Wednesday thousands of engine components may have been sold with forged paperwork by a British distributor, as the fallout from a probe into falsely certified parts reached London’s High Court. Matthew Reeve, a …