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Insurance

Broken Pipes in Memphis Cause Water Pressure, Supply Problems

By Hometown Insurance | January 23, 2024
(AP) — Subfreezing conditions and treacherous roadways have contributed to dozens of deaths this month across the U.S., where states as far south as Texas and Florida were gripped by deadly arctic weather on Sunday. Nationally, winter storms have claimed …
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SEC Blames ‘SIM Swapping’ for its X Account Hack

By Hometown Insurance | January 23, 2024
Wall Street’s top regulator was the victim of “SIM swapping,” a technique internet fraudsters use to seize control of telephone lines, when its account on the social media platform X, formerly known as Twitter, was hacked earlier this month, the …
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J&J Agrees to Resolve Talc Investigations in 42 States

By Hometown Insurance | January 23, 2024
Johnson & Johnson on Tuesday said it had reached a tentative settlement to resolve probes by U.S. states into whether it misled consumers about the safety of its talc products, which thousands of lawsuits claim can cause cancer. The deal …
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911 Calls From Maui Capture Pleas For Stranded, and Those Caught in Fire’s Chaos

By Hometown Insurance | January 23, 2024
The day after the deadliest U.S. wildfire in a century destroyed a seaside community on Maui, the barrage of 911 calls didn’t stop: Reports of missing people, stranded family members and confused tourists trapped without food or water lit up …
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Markets/Coverages: CFC Launches Embedded Transaction Liability Insurance Product

By Hometown Insurance | January 23, 2024
Specialty insurance provider CFC has launched what it is calling the first ever transaction liability insurance product to be embedded into online M&A platforms in the USA. CFC is initially making its Seller Protect available on the Flippa.com online M&A …
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Florida Cat Fund to Borrow up to $3.8 Billion in New Bond Issue

By Hometown Insurance | January 23, 2024
(Bloomberg) — The state corporation that oversees the Florida Cat Fund is planning to borrow as much as $3.8 billion to ensure the fund has plenty of money on hand to reimburse property insurers for losses when homes are damaged …
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US Appeals Court Revives Mexico’s $10B Lawsuit Against Gun Maker

By Hometown Insurance | January 23, 2024
A U.S. appeals court on Monday revived a $10 billion lawsuit by Mexico seeking to hold American gun manufacturers responsible for facilitating the trafficking of weapons to drug cartels across the U.S.-Mexico border. The Boston-based 1st U.S. Circuit Court of …
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Brown & Brown’s Q4 Profit Jumps on Robust Growth in Fee, Investment Income

By Hometown Insurance | January 23, 2024
Insurance brokerage Brown & Brown reported an 85% surge in fourth-quarter profit to $268.6 million on Monday, helped by higher commissions and fees alongside better investment returns. The insurance industry typically enjoys stable demand for its products regardless of the …
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UK Braces for More Hurricane-Strength Winds From Next Atlantic Storm

By Hometown Insurance | January 23, 2024
Just over a day after Storm Isha started to clear, the UK is bracing for more hurricane-strength winds off the Atlantic. Jocelyn — the 10th named storm of the season to hit the UK — will rip across the north …
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French Regulator Fines Amazon for ‘Intrusive’ Staff Surveillance

By Hometown Insurance | January 23, 2024
French regulator CNIL said on Tuesday it had fined Amazon France Logistique 32 million euros ($35 million) for what the CNIL said was an “excessively intrusive” surveillance system set up to monitor the performance of staff. The CNIL said indicators …
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