Posts by Hometown Insurance

Since countries signed onto the 2015 Paris Agreement, the United Nations has regularly reported on the world’s progress at limiting global warming to 1.5C above pre-industrial levels. A landmark UN report published today brings an end to that era — …

South Korea’s Samsung Group-affiliated insurers plan to acquire London-based reinsurance company Canopius by buying an additional 50% stake for more than 2 trillion won ($1.47 billion), the Korea Economic Daily said on Thursday. Samsung Fire and Marine Insurance Co. and …

Philadelphia Insurance Companies (PHLY) announced the launch of PHLY TankEAS, a self-service online platform that allows agents and brokers to quote, bind, and issue admitted policies for eligible risks under PHLY’s Storage Tank Environmental Policy (STEP) program. The portal reduces …

The risk of power outages is expected to escalate across a broad swath of the United States as intense heat will test the capacity of electricity supplies serving millions of homes and businesses from the Midwest through the Mid-Atlantic. The …

The Trump administration has filed a brief supporting OpenAI in its dispute with the New York Times NYT.N and other newspapers over the company’s use of their work to train the large language models behind ChatGPT, saying AI training generally …

For more than four decades, I have worked across the commercial property/casualty insurance ecosystem. Over those years, I have watched our industry attract people, develop underwriters, transfer knowledge, promote talent, lose experienced practitioners, and adapt as the way we work …

A Florida judge this week effectively dismissed a lawsuit brought by private equity firms who charged that Lighthouse Property Insurance executives misled investors about the extent of losses from Hurricane Ida in 2021. By entering into a 2021 note purchase …

New York’s attempt to make fossil fuel-producing industries pay into a $75 billion fund to repair the damage wrought by climate change was struck down by a federal judge, who said the sweeping law reaches beyond a state’s responsibility and …

Specialty insurance wholesale broker Amwins reports it has acquired Joseph Chiarello & Co., Inc., a managing general agent (MGA) specializing in commercial insurance for the firearms industry. Terms of the deal were not disclosed. Chiarello will join Amwins Underwriting, adding …

Fighting between the US and Iran over control of the Strait of Hormuz intensified after a period of relative calm, triggering a fresh jump in energy prices as fears grow of an open-ended war. The US military carried out a …