Posts by Hometown Insurance
People Moves: PIA New York Elects Officers; Bartow Elected President
Dix Hill, New York insurance agent Jason Bartow, AAI, CPIA, TRA, has been elected president of the Professional Insurance Agents of New York State (PIANY). Bartow is commercial lines executive vice president of Eugene A. Bartow Insurance Agency Inc. and …
Read More AMP to Pay $80 Million to Settle Class Action Over Pension Fees
AMP Ltd. has agreed to pay A$120 million ($80 million) to settle a class action alleging the financial group charged excessive fees on some pension accounts for more than a decade. The in-principle agreement relates to fees charged to members …
Read More Catastrophe Bonds Worth $17.5 Billion Land in EU Crosshairs
Asset managers with sizable holdings of catastrophe bonds are watching to see how a recent recommendation by Europe’s markets watchdog will disrupt the status quo, with some already warning of a potential selloff. At issue is the $17.5 billion of …
Read More Boeing Faces $3.1 Million in Fines for Safety Violations
The Federal Aviation Administration said it would fine Boeing Co. $3.1 million for a series of safety violations that it uncovered over a space of several months between late 2023 and early last year. The violations included interference with safety …
Read More US Appeals Court Hits Pause on Challenges to SEC Climate Rule
A federal appeals court on Friday said it was pausing its consideration of legal challenges against the U.S. Securities and Exchange Commission’s climate regulations until the Wall Street regulator decides whether it plans either to change them or to defend …
Read More California Roofing Contractor Must Pay $2M in Unpaid Wages, Damages
A federal court ordered a Northern California-based roofing contractor to pay $1.9 million in back wages and damages to 158 workers after a U.S. Department of Labor investigation reportedly found the employer failed to pay required overtime rates to workers. …
Read More Meta, OpenAI Face FTC Inquiry on Chatbot Impact on Kids
The Federal Trade Commission ordered Alphabet Inc.’s Google, OpenAI Inc., Meta Platforms Inc. and four other makers of artificial intelligence chatbots to turn over information about the impacts of their technologies on kids. The antitrust and consumer protection agency said …
Read More HEMIC in Hawaii Declares $5 Million Dividend for Policyholders
The Hawaii Employers’ Mutual Insurance Company Inc. board of directors declared a $5 million dividend for qualifying policyholders. It is the second consecutive year HEMIC issued a dividend this level. HEMIC will have returned more than $58 million in dividends …
Read More Missouri to Requires Insurers to Register with New Uninsured Motorist Program
Insurance companies licensed to write auto liability coverage in Missouri will soon need to register with the state’s new uninsured motorist program. The Missouri Insurance Verification System (MOIVS) will include real-time insurance verification, ongoing compliance monitoring, and a pre-trial diversion …
Read More Texas Insurer New Century Placed in Receivership and Liquidation
New Century Insurance Company, a property and casualty insurer licensed only in Texas, was placed in receivership receivership and ordered into liquidation by the Travis County District Court in Austin on Sept. 3, according to the Texas Department of Insurance. …
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