Posts by Hometown Insurance
Vermont Diocese Files for Bankruptcy Citing No Insurance Left for Retroactive Sex Claims
The Roman Catholic Diocese of Burlington, Vermont has filed for Chapter 11 bankruptcy protection as it continues to face lawsuits over sexual abuse by its former clergy members in a state with no statute of limitations on such claims. Bishop …
Read More Shelter Order Lifted for 90,000 Georgia Residents After Chemical Plant Fire
Authorities on Monday night ended a shelter-in-place order for more than 90,000 people east of Atlanta following a weekend chemical plant fire that sent a massive plume of dark smoke into the Georgia sky and led to complaints about a …
Read More Viewpoint: Strike’s Duration Will Determine Impact on P/C Insurance Industry
The International Longshoremen’s Association (ILA) went on strike on Tuesday, Oct 1. The strike is expected to affect more than 20 ports along the Eastern Seaboard and Gulf Coast, including the ports of New York and New Jersey, Baltimore and …
Read More Helene Claims in Florida Already More Than 65,700 – Far More than Idalia
The number of property insurance claims in Florida from Hurricane Helene had topped 65,700 by Tuesday, far more than the 25,000 seen in Hurricane Idalia a year ago, the Florida Office of Insurance Regulation reported. The total estimated insured losses …
Read More Global Insurers Fight London Court Battle Over Jets Seized in Russia
Insurers are playing “pass the liability parcel” in a desperate fight against multi-billion dollar claims over aircraft stranded in Russia since the invasion of Ukraine two years ago, lawyers for aviation lessors told a London trial on Wednesday. Mark Howard, …
Read More Hurricane Ravages Southern Cotton Crops Just Before Harvest
Cotton growers are facing devastating losses and delays from Hurricane Helene just as harvest was beginning, marking the latest blow to profits in an already weak market. The storm ripped through the cotton-growing regions of Georgia and the Carolinas after …
Read More University of California Purchases Sensor-Triggered Earthquake Parametric Policy
What is being called the first sensor-triggered earthquake parametric insurance policy in the U.S. was purchased by The University of California. Liberty Mutual Reinsurance, part of Liberty Mutual Insurance Group, and Safehub, a technology provider in seismic sensor and risk …
Read More Flooded Farms, Fouled Rivers, Dozens Dead: Helene’s Rising Toll
As historic floodwaters unleashed by Hurricane Helene recede across the US Southeast, the region faces a humanitarian, economic and ecological crisis of staggering scope, with effects likely to last years. Cotton crops on the verge of harvest have been flattened. …
Read More Employer, Workers’ Comp Insurer, Survivor Join Baltimore Bridge Collapse Litigation
The road construction firm that employed six workers who were killed and another who was seriously injured in the collapse of Baltimore’s Key Bridge, along with its workers’ compensation carrier, have filed claims against the owner and operator of the …
Read More Insured Losses from Central European Floods Range From US$2.2B to US$3.4B: Verisk
Insured industry losses from the flooding in the Czech Republic, Poland and Austria in September 2024 will range from €2 billion (US$2.2 billion) to €3 billion (US$3.4 billion), according to Verisk, the data analytics and technology provider. S&P Global Ratings …
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