Posts by Hometown Insurance
Hartford, CNA Post Drops in Q2 Net Income
Second quarter earnings at The Hartford fell to $437 million – about 51% less than the same period a year ago. Hartford said it booked a $485 before-tax change from net realized gains to net realized losses during Q2. The …
Read More Demotech Downgrades Three in Florida; AM Best, KBRA Say They’re Available
Just two weeks after the Demotech financial rating firm set off a firestorm of controversy by warning that it could soon downgrade as many as 17 Florida property insurers – then promised to hold off – the firm has now …
Read More Pennsylvania Store Chain Wawa to Pay $8M Over 2019 Payment Cards Breach
A Pennsylvania-based convenience store chain will pay $8 million to several states over a 2019 data breach that involved some 34 million payment cards, authorities announced Tuesday. The Pennsylvania attorney general’s office said Wawa Inc. did not take reasonable security …
Read More Massachusetts Agent Sentenced for Embezzlement; Agency Barred From Business
The chief executive officer and president of a Taunton, Massachusetts insurance agency has pleaded guilty in connection with an embezzlement scheme that left client companies uninsured, according to state officials. Attorney General Maura Healey announced that David G. Pietro and …
Read More World Insurance Acquires New Jersey’s Coverage Specialists
Insurance brokerage World Insurance Associates reports that it has acquired Coverage Specialists, Inc. of Pompton Plains, New Jersey. Coverage Specialists is a 35-year-old family-owned agency founded in 2010 that provides property/casualty insurance with a focus on the trucking and transportation …
Read More Reports: GEICO Closing All Offices in California
GEICO is closing all of its offices in California, according to reports. The company shut down all of its 38 offices in the state and hundreds of GEICO workers are being laid off, the news website SFGate is reporting. “We …
Read More California See Largest Wildfire of 2022 at 80 Square Miles
A wildfire in Northern California was burning out of control on Monday amid exacerbating conditions that pose the dangers of thunderstorms, and hot, windy conditions. The McKinney Fire grew rapidly to more than 80 square miles after breaking out on …
Read More California Insurance Commissioner: Mercury Steered ‘Good Drivers’ Toward Higher-Priced Policies
California Insurance Commissioner Ricardo Lara announced a legal action on Monday against Mercury Insurance for reportedly violating consumer protection laws, including selling Mercury’s highest-priced policy to “good drivers” instead of the lowest-priced policy for which good drivers qualify. Lara’s action …
Read More New Orleans Mayor OKs Facial Recognition Use for Cops
New Orleans Mayor LaToya Cantrell signed an ordinance Thursday to partly reverse the city’s ban on police use of facial recognition software. She had pushed for the changes in a ban approved nearly two years ago, when crime was low. …
Read More Arkansas Officials Approve Recreational Marijuana Initiative
Supporters of a recreational marijuana initiative have turned in the required number of valid signatures, moving the measure closer to appearing on Arkansas’ ballot this fall, election officials said last week. A spokesman for the secretary of state’s office said …
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