Posts by Hometown Insurance

A U.S.-focused Cyber Industry Loss Index has been launched by Zurich-based Perils and CyberAcuView, an independent U.S.-based organization formed by leading cyber insurers, to keep capital flowing in the cyber insurance market. The Cyber Industry Loss Index reports affirmative U.S. …

The central Massachusetts city of Leominster and other nearby communities are dealing with severe flash flooding from excessive rainfall. A state of emergency has been declared in Leominster, a city of about 43,000, due to what officials are calling life-threatening …

Searing temperatures from Texas to Tokyo over the summer are the latest reminder of a growing headache for the energy system, as extreme heat becomes a threat to fuel supply. In addition to causing spikes in electricity demand as people …

DETROIT (AP) – Property owners seeking to hold the state of Michigan responsible for the disastrous failure of a dam in 2020 have won a critical ruling from an appeals court. The court said claims of “inverse condemnation” – state-imposed …

A federal judge has barred attorneys and claimants involved in 3M’s $6 billion settlement with U.S. military servicemembers from any third-party litigation funding agreements. District Judge M. Casey Rodgers in the U.S. District Court for the Northern District of Florida …

The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023 is $2 billion less than total losses recorded for all of 2022, according to a new AM Best report. Catastrophe …

China’s financial regulator on Sunday reduced the risk weighting it attaches to insurance companies’ holdings of blue-chip shares and tech stocks, encouraging them to invest more in the country’s lagging stock market. The National Administration of Financial Regulation (NAFR)said on …

Executive summary: Reinsurance underwriting is all about finding equilibrium between their reason for being—reducing the volatility of cedents earnings—and producing stable profits in their own businesses. With new laws promising to change a Florida litigation environment that was out of …

Oakbridge Insurance has acquired Georgia-based Bishop-Durden-Hale Insurance Group, the companies announced. Bishop-Durden, which specializes in coverage for manufacturers, municipalities and schools, will keep its offices in Vidalia and Savannah. The firm was founded in 1996. Brian Bishop is the agency’s …

Some of the world’s largest ports may be unusable by 2050 as rising sea levels hit operations, and efforts to speed up decarbonization of the maritime sector and bring in new technology are vital, a study showed on Friday. Weather-related …