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Posts by Hometown Insurance

NC Youth Again Need Lerner Permits for Just Six Months Under New Law

By Hometown Insurance | May 9, 2023
The mandatory supervised driving period in North Carolina for young people before they can drive by themselves will be scaled back permanently after Gov. Roy Cooper said on Friday he’ll let a bill become law without his signature. The General …
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People Moves: BHSI Promotes Browne, Holmes to Global U/W Posts; AXA XL Bolsters Energy Team With 3 Hires; MGA Alta Signa Names Marongiu Technical Head of Cyber U/W

By Hometown Insurance | May 9, 2023
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI), AXA XL, and the MGA Alta Signa Europe. A summary of these new hires follows here. BHSI Promotes Browne, Holmes to Global Underwriting Posts Berkshire Hathaway …
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Client, Reinsurer Expectations Were Better Aligned at April Renewals: Swiss Re

By Hometown Insurance | May 9, 2023
While the January reinsurance renewals proved to be the toughest and most gruelling for decades, the April 1 renewals, driven by the Japanese P/C market, were a much calmer affair, according to Swiss Re. “Overall, client and reinsurer expectations were …
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EU Plans Tough ‘Value for Money’ Rules for Investment Products: Draft Proposals

By Hometown Insurance | May 9, 2023
Banks, insurers and asset managers in the European Union would only be allowed to sell funds and other products across the bloc if they could prove to regulators they offer value for money, draft proposals seen by Reuters showed. The …
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Hottest Ever April Recorded in Spain, Portugal as Heat Wave Hits Europe

By Hometown Insurance | May 9, 2023
Spain and Portugal recorded their hottest April on record as a mass of hot air brought temperatures above 30C and close to 40C in some areas at the end of the month. Last month was the fourth-hottest month of April …
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7th Circuit: D&O Insurer Must Pay Settlement for Drugmaker’s Kickback Case

By Hometown Insurance | May 9, 2023
Federal Insurance Co. must pay the $10 million policy limit in a directors and officers policy issued to Astellas Pharma, despite the carrier’s assertion that Illinois public policy forbids it from reimbursing the drugmaker for the cost of settling allegations …
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Byron Allen Sues McDonald’s for Allegedly Lying About Commitment to Black Media

By Hometown Insurance | May 9, 2023
The media entrepreneur Byron Allen has filed a second lawsuit against McDonald’s Corp over the fast-food chain’s alleged refusal to advertise with Black-owned media. In a complaint filed last week in Los Angeles, Allen’s Entertainment Studios Networks Inc and Weather …
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Twitter Beats Disabled Worker’s Lawsuit Over Layoffs, for Now

By Hometown Insurance | May 9, 2023
A federal judge in California has tossed out a lawsuit accusing Twitter Inc of discriminating against workers with disabilities by requiring employees to report to the office and put in long hours working at high intensity. U.S. District Judge Haywood …
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Lloyd’s Cyber War Exclusions: Confusing, Disruptive, but Necessary?

By Hometown Insurance | May 9, 2023
The rollout of the Lloyd’s Market Association’s (LMA) cyber war exclusions has received considerable criticism for the chaos and confusion caused in the weeks leading up to the March 31st effective date. But there are some certainties to keep in …
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Light Duty or Scheme to Avoid Workers’ Comp Claim? Florida Appeals Court to Decide

By Hometown Insurance | May 9, 2023
Most people will be familiar with the posters at workplaces, noting the number of days since a lost-time work injury. Well, there’s a dirty little secret behind that, one that helps employers avoid higher experience modifications on their workers’ compensation …
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