Posts by Hometown Insurance
ILS Investors Could Help Fill Cyber Re/Insurance Protection Gap if Hurdles Are Overcome
The cyber re/insurance protection gap provides an opportunity for insurance-linked securities (ILS) investors, which historically have filled the gaps where traditional capital has either retrenched or is unavailable, according to a report published by S&P Global Ratings. “The demand for …
Read More Viewpoint: Can the Florida Insurance Market Withstand Another Hurricane Andrew?
The wide-ranging impact of Hurricane Andrew on the Florida insurance market is a familiar story within the risk management world. However, 30 years on from August 24, 1992, when Andrew made landfall in Dade County, Florida, memories appear to be …
Read More Mississippi Capital Area Bracing for More Pearl River Flooding
The rental home that Suzannah Thames owns in Mississippi’s capital city was filled with dirty, snake-infested flood water when the Pearl River overflowed its banks in 2020. On Friday, Thames pointed to a column on the front porch to show …
Read More Droughts, Floods, Other Water-Related Disasters Could Cost Economy $5.6T by 2050
Worsening droughts, storms and torrential rain in some of the world’s largest economies could cause $5.6 trillion in losses to GDP by 2050, according to a report released Monday. This year heavy rains have triggered floods that inundated cities in …
Read More Cyber Insurance Price Hike Hits Local Governments Hard
This story originally appeared on Stateline, an initiative of The Pew Charitable Trusts. Horry County, South Carolina, officials were in for a shock earlier this year, when they discovered their cyber insurance premium would be spiking from $70,000 last year …
Read More New York Detective Wants Supreme Court to Block Vaccine Mandate
A New York City police detective has asked the U.S. Supreme Court to stop the city from firing him and other workers for refusing to get vaccinated against COVID-19. Lawyers for Detective Anthony Marciano asked the court Thursday for an …
Read More Britain’s Beaches Face Growing Problem With Sewage Discharges
Raw sewage has been spilling into seawater in some parts of England and Wales over the past week after heavy rains overwhelmed sewer systems. The contaminated flows triggered new pollution risk warnings and advice against bathing from the Environment Agency …
Read More Deaths From Pakistan Floods Top 1,000 in ‘Climate Catastrophe’
ISLAMABAD (AP) – Deaths from widespread flooding in Pakistan topped 1,000 since mid-June, officials said Sunday, as the country’s climate minister called the deadly monsoon season “a serious climate catastrophe.” Flash flooding from the heavy rains has washed away villages …
Read More Meta’s Facebook Agrees to Settle Cambridge Analytica Suit
Meta Platforms Inc. settled a long-running lawsuit that claimed Facebook illegally shared user data with the research firm Cambridge Analytica. The preliminary settlement, disclosed in a court filing late Friday, follows the revelation last month that Meta Chief Executive Officer …
Read More 3M Bankruptcy Tactic Fails as Combat Earplug Suits Move to Trial
3M Co.’s plan to use controversial bankruptcy rules to shield itself from some 230,000 lawsuits over military earplugs looked like a relatively simple fix to a long-simmering problem that could cost it billions of dollars. Like most things that sound …
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