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Insurance

Markets/Coverages: Clearcover, Experian Team on Embedded Auto Insurance Solution

By Hometown Insurance | April 27, 2023
Digital car insurer Clearcover Insurance Company, said April 26 that it launched an embedded insurance solution in which consumers receive final, bindable quotes when they shop on Experian’s auto insurance comparison shopping service. The initiative supports Clearcover’s strategy to fuel …
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Cyber Insurance Rate Hikes Moderate, While Property Prices Rise in Most Regions: Marsh

By Hometown Insurance | April 27, 2023
Average global cyber insurance prices continued to moderate in the first quarter, with average price increases of 11%, compared to 28% in Q4 2022, according to the Global Insurance Market Index published by insurance broker Marsh. This was particularly evident …
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AIG, Stone Point Finalize Deal to Start MGA for High Net Worth Business

By Hometown Insurance | April 27, 2023
American International Group said it has finalized an agreement with private equity firm Stone Point Capital to form Private Client Select (PCS) Insurance Services. PCS will be an independent managing general agent serving the high net worth and ultra high …
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Norfolk Southern Estimates That Ohio Derailment Cost $387M

By Hometown Insurance | April 27, 2023
Norfolk Southern expects February’s fiery Ohio derailment to cost it $387 million, but that total will likely increase over time and that doesn’t reflect how much the railroad’s insurance companies will eventually cover. The railroad provided a detailed estimate of …
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Tesla Violated Law by Telling Florida Workers not to Discuss Pay, Conditions, NLRB Says

By Hometown Insurance | April 27, 2023
Tesla supervisors at a Florida service center violated U.S. labor law by telling employees not to discuss pay and other working conditions or bring complaints to higher level managers, a U.S. labor board official has ruled. Managers at the Orlando …
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New York Lawyers, Doctor Sentenced in $31 Million Trip-and-Fall Insurance Fraud

By Hometown Insurance | April 27, 2023
A New York surgeon and two lawyers are the latest professionals to be sentenced for their roles in a massive massive trip-and-fall fraud scheme between 2013 and 2018 that exploited some of the most vulnerable members of the New York …
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Mystery on Why Two Pesticide Workers Died After Fumigating Florida Warehouse

By Hometown Insurance | April 27, 2023
South Florida authorities are still investigating after two pesticide workers died and a third was hospitalized after fumigating a Pompano Beach warehouse. The three workers sprayed the Baer’s Furniture Warehouse Saturday and finished their shifts. One began to fill ill …
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NC Commissioner Blasts Bill Giving Blue Cross More Control Over its Surplus

By Hometown Insurance | April 27, 2023
North Carolina’s dominant health insurance provider could transfer billions to a holding company instead of returning portions of that surplus to policyholders, under legislation that advanced Tuesday in the state House. The House Health Committee passed a bill with broad …
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Ship Insurers Warn of Russian Oil Price Cap Evasion, Risks of Growing ‘Dark Fleet’

By Hometown Insurance | April 27, 2023
A rise in spot prices for Russian crude oil to above the $60 per barrel cap imposed by western powers has made ship insurers even more nervous of running foul of the rules as they are unable to independently track …
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Ermotti Steps Down as Swiss Re Chair on April 30; de Vaucleroy Takes Interim Role

By Hometown Insurance | April 27, 2023
Swiss Re announced that Sergio P. Ermotti is stepping down as chairman of the Board of Directors on April 30, 2023, after completing the agreed handover period, to fully focus on his new role at UBS, which was announced in …
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