Posts by Hometown Insurance

AM Best has downgraded the Financial Strength Rating to B- (Fair) from B++ (Good) and the Long-Term Issuer Credit Ratings to “bb-” (Fair) from “bbb” (Good) of Oregon Mutual Insurance Company and Western Protectors Insurance Company, which are domiciled in …

Erie Insurance said it has “seen no evidence of ransomware and there is no indication of ongoing threat actor activity” in a June 17 update on its 10-day long network outage. That statement would appear to contradict claims in two …

Homeland Security Secretary Kristi Noem directed the Federal Emergency Management Agency to prepare a memo on how to abolish itself and create a re-branded, radically smaller disaster response organization, according to a copy of the document reviewed by Bloomberg News. …

War risk insurance premiums for shipments to Israel are as much as three times higher than a week ago as the war between Israel and Iran entered its fifth day, industry sources said on Tuesday. The cost of a seven-day …

Markel Insurance, the insurance operations within Markel Group Inc., appointed new leadership within its U.S. wholesale and specialty division. The company is simplifying its structure from six U.S. wholesale and two U.S. retail regions to four integrated U.S. regions. As …

Louisiana Governor Jeff Landry vetoed a bill last week that would have limited bad faith lawsuits against insurers, a move that raised criticism from the insurance industry. SB 111, sponsored by Sen. Alan Seabaugh, R-Many, intended to bring clarity to …

The US has spent nearly $1 trillion dollars on disaster recovery and other climate-related needs over the 12 months ending May 1, according to an analysis released Monday by Bloomberg Intelligence. That’s 3% of GDP that people likely would have …

An Atlanta family whose home was wrongly raided by the FBI will get a new day in court, the Supreme Court ruled unanimously on Thursday. The decision revives a lawsuit filed after a predawn 2017 raid in which armed members …

Within changes submitted by U.S. Senate Republicans to President Donald Trump’s tax bill is language that would close a tax “loophole” for third-party litigation funders. According to text released Monday by U.S. Senate Finance Committee Chairman Mike Crapo, R-Idaho, to …

A company that has spent years battling conservationists as it seeks a permit to mine outside the Okefenokee Swamp and its federally protected wildlife refuge needs to do just one thing before regulators make a final decision: set aside $2 …