Posts by Hometown Insurance

Systemic shocks related to the recent pandemic, the war in Ukraine, natural catastrophe losses and elevated inflation have raised questions about reserve adequacy for property/casualty insurers, according to a Swiss Re report. These recent shocks have pushed up claims and …

Berkshire Hathaway Inc.’s PacifiCorp was sued by Oregon wineries claiming that smoke from wildfires ignited by the utility’s equipment in 2020 destroyed their grape harvests, resulting in tens of millions of dollars in damages and lost wine sales. The lawsuits …

The Auto Club Insurance Company (AAA) of Florida has announced that it will not renew a “very small percentage” of auto and home insurance package policies in Florida. But, the insurer stressed, it is not leaving the state — it’s …

Liberty Mutual Insurance announced major organizational changes and executive leadership appointments, which are aimed at enhancing its personal and small commercial lines business in long-term strategic markets. Approximately 370 jobs will be lost in the US as a result of …

Augment, a new Miami-headquartered reinsurance broker, announced its official launch with access of up to $100 million in funding from Altamont Capital Partners. Over the last decade, the global reinsurance market has been buffeted by significant shifts — among them …

Insurers are reviewing whether to freeze cover for any ships willing to sail to Ukraine after Russia said on Monday it will suspend participation in a UN-backed deal that allows the export of grain through a Black Sea safe corridor, …

South Carolina is expanding the number of drunk driving offenders who must install temporary breathalyzers before taking the wheel. Under the new law, anyone convicted of driving under the influence will have to breathe into a device that confirms no …

Autopsy records should be open to the public, a Pennsylvania court ruled in response to the county`s denial of a journalist`s requests for records pertaining to an inmate`s death. The case marks a further easing of the public’s access to …

A Swiss investors’ association is planning to file a lawsuit seeking compensation for former Credit Suisse shareholders, the latest legal action triggered by the bank’s emergency takeover by its cross-town rival UBS UBSG.S. “Due to the large number of inquiries, …

South Korean President Yoon Suk Yeol on Monday blamed authorities’ failure to follow disaster response rules as the death toll from days of torrential rain rose to 40, including a dozen people found dead in a submerged underpass. Deluges have …