Posts by Hometown Insurance

The British government and the Bank of England are reforming insurers’ capital rules, seen as a post-Brexit test of UK willingness to “unshackle” the City of London after leaving the European Union. Reform would potentially free up billions of pounds …

Allianz SE sees a “huge opportunity” from asset management in China because the nation needs to diversify overseas investments, its chief executive officer said. Chinese investors need to diversify, which requires advice on how to invest in Europe or US …

IRB Brasil Resseguros SA said on Thursday that chief executive Raphael de Carvalho had resigned after just over a year in the position, following a difficult few months at the Brazilian reinsurer. At an extraordinary meeting, IRB’s board of directors …

Two new U.S. studies show that automatic emergency braking can cut the number of rear-end automobile crashes in half, and reduce pickup truck crashes by more than 40%. The studies released Tuesday, one by a government-auto industry partnership and the …

Walmart proposed a $3.1 billion legal settlement on Tuesday over the toll of powerful prescription opioids sold at its pharmacies, becoming the latest major drug industry player to promise major support to state, local and tribal governments still grappling with …

Florida-based ShoreOne, one of the relatively few insurance companies to offer homeowner perils as well as flood protection, has named Brad Burton senior vice president of operations. Burton was previously VP for underwriting at Olympus Insurance Co., and was with …

California’s State Average Weekly Wage rose by more than 5% in the year ending March 31, 2022, which will result in an increase in California workers’ compensation temporary total disability and permanent total disability rates for 2023 work injury claims …

The Texas Department of Insurance, Division of Workers’ Compensation (DWC) sent out a memo that the designated doctor sales tax requirement is delayed. On October 20, 2022, the Texas Comptroller of Public Accounts (Comptroller) issued Private Letter Ruling No. PLR20220516113922 …

Catastrophe modeler RMS said private market U.S. insured losses from Hurricane Nicole are estimated at less than $2 billion, with a best estimate of $1.6 billion. This estimate represents insured losses associated with wind, storm surge, and precipitation-induced flooding. Losses …

People who were convicted of having oral or anal sex under an antiquated Idaho law will be allowed to be removed from the state’s sex offender list, according to a settlement Idaho has reached to resolve a two-year-old lawsuit. The …