Posts by Hometown Insurance
Executives Take Pay Cuts Over Staff Misconduct at Prudential Japan
Top executives at Prudential Financial Inc.’s Japan unit will take pay cuts after a panel of outside experts issued a report on widespread employee misconduct involving customers’ money. President Hiromitsu Tokumaru and two others will take a 30% reduction in …
Read More People Moves: Selective Insurance Names Kalia Chief Investment Officer
Selective Insurance Group Inc., headquartered in Short Hills, New Jersey, appointed Vaibhav (Vaib) Kalia as executive vice president and chief investment officer. Kalia has served as interim chief investment officer since June. In this role, Kalia oversees Selective’s investment portfolio …
Read More A Timeline of Developments in AI Safety Since the Attack on Hugging Face
In one alarming announcement after another, artificial intelligence companies in recent months have shared examples of their technology acting in ways that appeared to evade instructions from humans. The episodes have highlighted the vulnerabilities in AI security and raised questions …
Read More AI Bubble Risks Worst S&P 500 Crash Since 2008, Strategist Says
The head of market strategy at a London investment bank has a stark warning for investors: the artificial-intelligence trade may soon be over in what could trigger the most severe market crash since the global financial crisis. Equities have powered …
Read More Viewpoint: The ‘Unbundled’ Insurer Emerges in Age of AI as Value Chain Fragments
A roofing contractor in Florida buys a general liability policy. Between him and the capital that stands behind the policy sits a supply chain: a retail agent, a wholesale broker, an underwriter, a licensed carrier, a reinsurance panel and, increasingly, …
Read More Hordes of Teens on E-Bikes Force Suburbs to Rewrite Road Rules
Authorities are cracking down on the latest teenage craze wreaking havoc in communities across the US: e-bikes. Police were called when dozens of e-bikes and e-motos swarmed the streets of Bend, Oregon, on a recent afternoon. In Orange County, California, …
Read More PG&E Warns of Possible Weekend Power Shutoffs Amid Windy California Weather
PG&E Corp. is warning that it may shut off power to some customers in northern California this weekend as dry winds elevate the risk of wildfires. California’s biggest utility may switch off power in as many as seven counties north …
Read More California Workers’ Comp Combined Ratio Highest in More Than 20 Years
The projected combined ratio for California workers’ compensation insurers reached 127% in 2025, the highest in more than 20 years, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its latest Quarterly Experience Report, which delves …
Read More Ohio Contractor Sued for for Alleged Incomplete Home Improvements
Ohio Attorney General Andy Wilson is suing a home-improvement contractor in southwestern Ohio accused of charging consumers for services that were not completed or, in some cases, even started. Wilson’s lawsuit alleges that Cincinnati-based Quincy Barrett and his company, Crown …
Read More Texas Agency Sues to Stop Release of Data Center Records, Citing Terrorist Risk
The Public Utility Commission of Texas is asking a Travis County judge to block the release of information showing where data centers and virtual currency mines operate, saying those details could aid terrorists. The lawsuit filed Monday pits the state …
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