Posts by Hometown Insurance

Over 70,000 Burning Man festival-goers were stranded in Nevada’s Black Rock Desert following heavy rain over the weekend. The Pershing County Sheriff’s Office said one person died during the rain, though details about how the death occurred were not released. …

Kroger on Friday said it would pay as much as $1.4 billion to resolve thousands of lawsuits by U.S. states, local governments and Native American tribes claiming the supermarket chain’s pharmacies helped fuel the nation’s opioid epidemic. Kroger agreed to …

Microsoft will pay legal damages on behalf of customers using its artificial intelligence (AI) products if they are sued for copyright infringement for the output generated by such systems, the company said on Thursday. Microsoft will assume responsibility for the …

Lloyd’s syndicate Probitas 1492 has announced the launch of a special purpose arrangement (SPA) for the 2024 year of account (YOA), after receiving in-principle approval from Lloyd’s. The SPA, called “AdA SPA 2024,” is headed up by ex-Munich Re Syndicate …

Hurricane Lee has become the strongest Atlantic storm since 2019 with winds of 165 miles (266 kilometers) per hour, and the US National Hurricane Center said the Category 5 system isn’t done growing yet. While the storm is far from …

SAVANNAH, Ga. (AP) — Hyundai Motor Group and LG Energy Solution said Thursday they will spend an additional $2 billion and hire an extra 400 workers to make batteries at the automaker’s sprawling U.S. electrical vehicle plant that’s under construction …

Lawyers who sued Facebook over user privacy violations are seeking $180 million in attorneys fees — a sum the judge in the case likened to “Nick Bosa money,” a reference to a $170 million contract the San Francisco 49ers star …

RALEIGH. N.C. (AP) — Portions of a lawsuit filed by several North Carolina bars and their operators seeking financial damages from the state over COVID-19 restrictions that shuttered doors and curtailed business can continue forward, an appeals court panel has …

Prudential Financial Inc. and Warburg Pincus are among investors that contributed a combined $1 billion of equity to create a Bermuda-based reinsurer, Prismic Life Reinsurance Ltd. In its first deal, Prismic is taking on $10 billion of structured settlement annuity …

Guy Carpenter, the reinsurance business of Marsh McLennan, announced the launch of the next generation of its catastrophe analytics platform, GC AdvantagePoint. The updated platform features new technology that will improve the performance and efficiency of underwriting and catastrophe management …