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Insurance

Nord Stream Insurers Deny Policies Covered War Risks in UK Lawsuit

By Hometown Insurance | April 18, 2024
Nord Stream’s insurers have denied that their policies provide cover for gas pipelines damaged by blasts in 2022 because the damage was caused by war, in their written defense to a lawsuit filed at London’s High Court. Nord Stream is …
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Wisconsin Republicans Ignore Governor’s Call to Spend $125M to Combat PFAS

By Hometown Insurance | April 18, 2024
MADISON, Wis . (AP) — Wisconsin Republicans on Tuesday ignored the latest call from Democratic Gov. Tony Evers to spend $125 million to combat so-called forever chemicals, leading Evers to say he might sue over the issue. The moves are …
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Bayer Pushes Legislation in Multiple States for Legal Shield Against Lawsuits

By Hometown Insurance | April 18, 2024
DES MOINES, Iowa (AP) — Stung by paying billions of dollars for settlements and trials, chemical giant Bayer has been lobbying lawmakers in three states to pass bills providing it a legal shield from lawsuits that claim its popular weedkiller …
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Climate Change to Cause $38 Trillion a Year in Damages by 2049

By Hometown Insurance | April 18, 2024
Climate change will inflict losses to the global economy worth an annual $38 trillion by 2049, as extreme weather ravages agricultural yields, harms labor productivity and destroys infrastructure, according to researchers at the Potsdam Institute for Climate Impact Research (PIK). …
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Britain’s Insurers Under Pressure Over Spike in Car Insurance Premiums

By Hometown Insurance | April 18, 2024
The rising cost of car insurance has triggered a barrage of complaints in the cost of living crisis, Britain’s financial watchdog told lawmakers on Wednesday, as the sector insisted that prices remain at 2018 levels in real terms. Matt Brewis, …
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Dubai’s Record Rain Floods Expensive Homes and Halts Flights

By Hometown Insurance | April 18, 2024
Dubai flights have been severely disrupted and cars were left stranded on flooded roads after record rainfall over the past day brought the city to a standstill. The United Arab Emirates experienced its heaviest downpour since records began in 1949, …
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North Carolina Adjuster and Son Charged with Embezzlement in Roof Jobs

By Hometown Insurance | April 18, 2024
A North Carolina mother and son adjusting and contracting team are scheduled to appear in court next month on charges of scamming more than $20,600. Both have been charged with similar offenses in the last two years, the state Insurance …
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Coal Miners Getting New Protections Against Black Lung Disease

By Hometown Insurance | April 18, 2024
Coal miners will be better protected from poisonous silica dust that has contributed to the premature deaths of thousands of mine workers from a respiratory ailment commonly known as black lung disease, the Labor Department said Tuesday as it issued …
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Wildfires Are Upending Some of the Safest Bets on Wall Street

By Hometown Insurance | April 18, 2024
When the Texas Panhandle went up in flames this winter, the news spread fast on Wall Street. An electric utility by the name of Xcel Energy Inc. was getting blamed for the massive blaze — a lawsuit pointed the finger …
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Workers’ Comp Rating Bureau of California Governing Committee Oks Higher Pure Premium Rate Filing

By Hometown Insurance | April 17, 2024
The Workers’ Compensation Insurance Rating Bureau of California’s governing committee voted on Wednesday to authorize the WCIRB to submit a Sept. 1, 2024 Pure Premium Rate Filing to the California Insurance Commissioner on average 0.9% above the average approved Sept. …
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