Posts by Hometown Insurance

AM Best removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Golden Bear Insurance Co. headquartered in Stockton, California. The …

Another property insurer has halted writing new policies in Florida. For homeowners, condominiums and rental properties, “new business will be paused temporarily until further notice,” American Traditions Insurance explained Thursday in a bulletin to agents around the state. “We will …

The Financial Stability Oversight Council convened on Thursday to identify and address climate-related financial risk. The FOC last year published an extensive report on climate-related financial risk and issued dozens of best-practices recommendations to U.S. financial regulators to identify and …

United Insurance Holdings, parent of United Property & Casualty Insurance, said it has completed most of its major reorganization plan, consolidating its four Florida-based carriers into two. The news was accompanied by second-quarter catastrophe losses of $17 million after taxes, …

A construction worker at a North Carolina airport was electrocuted, according to a California-based company for whom he worked. The Charlotte Observer reports Rosendin Electric, a company based in San Jose, California, filed a report Monday morning confirming Sunday’s death …

The European Commission is considering creating a new directorate that may be headed by two top antitrust officials to enforce tough new rules aimed at reining in the powers of Big Tech, two people familiar with the matter said. Such …

Digital insurer Lemonade said it has closed of the acquisition of pay-per-mile car insurance provider Metromile in an all-stock transaction. Metromile shareholders received 7.3 million Lemonade shares, while Lemonade received a business with over $155 million in cash, over $110 …

The Hilb Group has acquired Massachusetts-based King and Cushman Agency, further expanding the company’s presence throughout New England. Based in Northampton, King and Cushman has served the area for nearly 100 years, offering personal and commercial property/casualty insurance. Agency Principal …

The federal judge administering more than 230,000 lawsuits against 3M Co. questioned whether the industrial giant acted in good faith when it decided to try to shift the cases to bankruptcy court instead of facing separate jury trials around the …

Chubb CEO Evan Greenberg said the insurer is seeing favorable returns, but additional rate is needed to “keep pace with loss costs, which are hardly benign.” Greenberg said during the July 27 call to discuss second-quarter earnings that Chubb has …