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Posts by Hometown Insurance

Amid Clean up From LA Wildfires, Some Residents Furious Over Hazardous Waste

By Hometown Insurance | February 3, 2025
Not far from where Ceci Carroll lives, a rock-mining company has polluted the air with dust across the San Gabriel Valley, she said. Now, as crews clean charred remains from the Los Angeles wildfires, she worries about a new potential …
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New York Recovers $11 Million in Stolen Cars and Parts, Lost Titles

By Hometown Insurance | February 3, 2025
The New York State Department of Motor Vehicles said it helped consumers recover more than $11 million in stolen vehicles, stolen parts, services and lost titles, in 2024. According to the DMV, it recovered 303 stolen vehicles — valued at …
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Pilots Have Long Worried About DC’s Complex, Congested Airspace

By Hometown Insurance | February 3, 2025
The airspace around Washington, D.C., is congested and complex — a combination aviation experts have long worried could lead to catastrophe. Those fears materialized last Wednesday night when an American Airlines plane collided with a military helicopter, taking the lives …
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Australia Urges Residents in Northeast to Evacuate on Flood Risk

By Hometown Insurance | February 3, 2025
Australian officials urged residents in the northeastern city of Townsville and adjacent areas to evacuate as torrential rains raised the risk of a flood disaster in the area. Some parts of the north in Queensland state have had more than …
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UK Warns DeepSeek Users of Data Risks But Won’t Yet Ban It

By Hometown Insurance | February 3, 2025
As governments grapple with what to do about DeepSeek, China’s hot new AI model — including outright bans — the UK is issuing a warning to its citizens and business: be careful. “Ultimately it is a personal choice for people, …
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Property-Catastrophe Reinsurance Rates Will Stop Dropping Post-Wildfires: Execs

By Hometown Insurance | February 3, 2025
RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfires—and anticipates that industrywide impacts should halt the drop in property-catastrophe reinsurance prices observed at 1/1. Kevin O’Donnell, president and chief executive officer, referencing an industrywide …
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City of London Hit Harder Than Rest of Economy Since Brexit Vote

By Hometown Insurance | February 3, 2025
The City of London, once considered the crown jewel of Britain’s dominant services sector, has performed even worse than the rest of the economy in the years following the Brexit referendum. Financial and insurance output has grown just 2.8% since …
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SEC’s Republican-Led Commission Tightens Oversight of Probes, Sources Say

By Hometown Insurance | February 3, 2025
Lawyers at the U.S. Securities Exchange Commission (SEC) have been told they need to seek permission from the politically appointed leadership before formally launching probes, two sources briefed on the matter said, in a marked change in procedure that could …
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North American Companies Brace for Fallout From Tariffs

By Hometown Insurance | February 3, 2025
For North American companies, the “wait and see” moment on tariffs is over. U.S. President Donald Trump imposed a 25% levy on goods from Canada and Mexico, along with a 10% tariff on China, in what could be the opening …
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Trump Fires Biden’s Consumer Protection Watchdog Rohit Chopra

By Hometown Insurance | February 3, 2025
Rohit Chopra, the director of the Consumer Financial Protection Bureau under President Joe Biden, was fired by the Trump administration, a person with knowledge of the matter said. “This letter confirms that my term as CFPB director has concluded,” he …
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