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Insurance

Federal Reserve Assesses Vulnerability, Viability of New York City’s Basement Housing

By Hometown Insurance | May 28, 2024
Approximately 10% of low-income and immigrant New Yorkers live in areas with basement apartments that are at high risk of flooding, according to a report released by the Federal Reserve Bank of New York. The report,”Flood Risk and Basement Housing …
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Cyclone Lashes India, Bangladesh, Killing at Least 16, Cutting Power to Millions

By Hometown Insurance | May 28, 2024
Strong gales and heavy rain triggered by the first major cyclone of the year lashed the coastlines of India and Bangladesh on Monday, killing at least 16 people and cutting power to millions. The winds had not stopped as night …
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Fewer Top Women Earners in British Finance Services Since Pandemic: Report

By Hometown Insurance | May 28, 2024
Women make up a smaller proportion of top earners in British financial and professional services than before the COVID-19 pandemic, research from the London School of Economics and Political Science (LSE) showed on Monday. Women made up 19.4% of the …
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Highlighting Exxon Suit, Investors Urge Firms to Keep Shareholder Spats Out of Court

By Hometown Insurance | May 28, 2024
A group of around 40 large European and American institutional investors on Tuesday urged companies to refrain from taking shareholders to court over disagreements relating to their proposals. The group, which represents $4.4 trillion in assets under management, highlighted the …
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ABN Amro Is Latest Bank to Suffer Breach After Hack at Supplier

By Hometown Insurance | May 28, 2024
ABN Amro Bank NV became the latest European lender to suffer a data breach through one of its suppliers as criminals seek to exploit weaker links adjacent to banking. The Dutch bank said in a statement Friday unauthorized parties may …
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Live Nation Ticket Buyers Sue in Wake of US Justice Department Case

By Hometown Insurance | May 28, 2024
Live Nation and its Ticketmaster unit have been hit with the first in a likely wave of new consumer antitrust lawsuits after the U.S. government and states sued to break up the two companies on Thursday. The first consumer class …
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US Intelligence Agencies’ Embrace of Generative AI Is Wary and Urgent

By Hometown Insurance | May 28, 2024
Long before generative AI’s boom, a Silicon Valley firm contracted to collect and analyze non-classified data on illicit Chinese fentanyl trafficking made a compelling case for its embrace by U.S. intelligence agencies. The operation’s results far exceeded human-only analysis, finding …
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777’s Football Empire Under Review After Lender Hires Moelis

By Hometown Insurance | May 28, 2024
Moelis & Co. has been hired to review 777 Partners LLC’s portfolio of football teams, people with knowledge of the matter said, raising fresh questions about the future of one of the sport’s biggest multiclub owners. The investment bank has …
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Mississippi Wind-Mit Program Now Funded Through Surplus Lines Assn. Revenue

By Hometown Insurance | May 28, 2024
Almost two decades after it was established by the Mississippi Legislature, a storm and flood-mitigation grant program now has some funding – $5 million to be transferred from the Mississippi Surplus Lines Association. “The Legislature didn’t appropriate the money. I …
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Safety Probe Into Waymo Self-Driving Vehicles Finds More Incidents

By Hometown Insurance | May 28, 2024
The National Highway Traffic Safety Administration said Friday it has learned of nine additional incidents that raise concerns about the performance of Alphabet’s Waymo self-driving vehicles. Earlier this month, the U.S. auto safety regulator opened an investigation after 22 reports …
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