Posts by Hometown Insurance
Florida Condo Collapse Probe Zeroes in on Pool Deck Flaws as Preliminary Cause
Federal investigators have zeroed in on flaws in the pool deck as the preliminary cause of the 2021 collapse of a 12-story Florida beachfront condominium that killed 98 people. The National Institute of Standards and Technology said in a report …
Read More After Merger Announcement, KBRA Puts Olympus’ Rating on Watch
A day after SageSure announced plans to acquire Florida-based Olympus Insurance, a financial rating firm said it has some concerns. KBRA, the Kroll Bond Rating Agency, issued a notice Thursday that it has placed Olympus’ “BBB+” financial strength rating on …
Read More State Police Shortage Stalls Vermont Program to Protect Highway Workers
Kellen Cloud’s line of work has always been dangerous. For the better part of the past two decades, Cloud has worked at Green Mountain Flagging, a company that stations traffic controllers at construction sites around the state. He recalled when …
Read More Hong Kong Boosts Flood Management as Climate Change Fuels Heavy Rains
Two years ago, extreme rainfall inundated Hong Kong, turning roads into raging rapids, submerging cars and flooding malls, making it one of the city’s most costly weather events ever. When another round of record-breaking rains drenched the city last month, …
Read More 75% of Buyers Are Concerned About Rising Homeowners Insurance Costs: Survey
Nearly 75% of recent and prospective buyers believe that homeowners’ insurance could become unaffordable, according to a new Realtor.com survey. Eighty-eight percent of those surveyed believe they will pay more for homeowners’ insurance in the future, and 42% have already …
Read More Uber Sued by DOJ Over Passenger Disability Discrimination
Uber Technologies Inc. was sued by the US Justice Department over claims that the ride-sharing giant discriminates against people with physical disabilities in violation of federal law. The department’s civil rights division alleged in a complaint filed Thursday in federal …
Read More Immigration Raid Disruptions Spread, Casting Pall on Korea Investment
Fallout from last week’s unprecedented immigration raid at a Georgia battery plant run by two South Korean firms is reverberating across the industry, highlighting risks to the billions of dollars the Asian nation has invested in America’s clean energy push. …
Read More People Moves: Blumhagen Joins Willis as Producer for Upstate New York
Insurance broker Willis has appointed Steve Blumhagen as a producer in the Upstate New York market. Based in the Buffalo office, Blumhagen will report directly to David Lofstrom, Northeast Deputy Leader – New England, and work with Vin Looney and …
Read More New Jersey’s Ban on Guns in Sensitive Places Upheld; Insurance Mandate Nixed Again
A federal appeals court on Wednesday upheld a New Jersey law that barred carrying firearms in so-called sensitive places like schools and public gatherings. The 3rd Circuit Court of Appeals, in a 139-page opinion, recounted a longstanding history in the …
Read More 7 Years of Double-Digit Growth; New Players on Top 25 E&S Insurers List
[no_auto_dropcap]2024 marked the 7th straight year of double-digit growth for the U.S. excess and surplus lines market, but the top 25 players no longer command 70 percent of the pie, according to a new report. AM Best’s latest report on …
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