Posts by Hometown Insurance

U.S. homeowners multiperil insurers reversed a $1.3 billion underwriting loss in 2024 to post an underwriting profit of $16.5 billion in 2025 – the line’s first underwriting gain since 2019, said AM Best. In fact, seven of eight years from …

Florida’s attorney general asked a judge on Monday to bar OpenAI from developing new artificial intelligence models without outside oversight as part of its lawsuit accusing the company of harming children. Florida sued OpenAI in June accusing the company of …

A group of 15 states and a Texas county on Sept. 28 sued the US Federal Aviation Administration over an environmental review of planned commercial drone package delivery rules. The states — including New York, California, Massachusetts, Wisconsin and Michigan …

Trading firm Sapphire Minmetals and related companies plan to move swiftly with their $2 billion lawsuit against Glencore after a Singapore court appointed KPMG as interim judicial managers of Radiant World, Chairman Rakesh Sethi told Reuters. Radiant World, Sapphire Minmetals …

The U.S. Senate late Sept. 28 passed, by unanimous consent, legislation to reauthorize the federal terrorism insurance backstop. The Senate moved on the Terrorism Risk Insurance Program Reauthorization Act of 2026 (S. 4395) to extend the program until 2034. It …

Gov. Greg Abbott declared a statewide disaster on Monday over soaring diesel prices and a worsening fuel shortage created by wars abroad. The 30-day disaster declaration, which can be extended indefinitely, allowed Abbott to lift some restrictions on commercial transportation, …

WalkerHughes Insurance has acquired Burgett Insurance Agency, based in Killbuck, Ohio. The addition of Burgett further expands WalkerHughes’ footprint in Ohio and builds upon the firm’s continued growth in the state following its partnership with Sacksteder Worland Insurance Agency in …

Cornell University said it supports a decision by prosecutors to reopen a criminal investigation into allegations of sexual assault and rape at a campus fraternity, pushing back on criticism of how it handled the case. The Ivy League school defended …

The Paris Criminal Court found Spanish company Swiftair guilty of corporate manslaughter on Monday over the 2014 crash of an Air Algerie flight that killed 116 people in northern Mali. Swiftair, which had been sub-contracted to operate the flight on …

South Korean banks and insurers are hunting for overseas deals to lift growth, signaling a broader outward turn by an industry that largely stayed home while companies including Samsung Electronics Co. and Hyundai Motor Co. built global businesses. A rapidly …