Bond yields surged as a strong jobs report boosted expectations that the Federal Reserve will be forced to hike interest rates at some point this year. The Nasdaq composite fell 4.2%. Nvidia and Broadcom were among the heaviest weights on the market. The Labor Department reported that employers added 172,000 jobs in May, roughly double what forecasters had…
The National Oceanic and Atmospheric Administration is forecasting a below-normal season with a total of 8-14 named storms. Now is the time to strengthen your property to reduce potential damage and check your insurance coverage to make sure you are financially prepared if a storm damages your property, according to the American Property Casualty…
AM Best has assigned a Long-Term Issue Credit Rating of“ aa” to the recently announced $1.25 billion, 6.05% surplus notes, due 2056, issued by The Northwestern Mutual Life Insurance Company. The outlook assigned to the Credit Rating is stable. The proceeds from the surplus notes offering will be used for general corporate purposes.
But those waiting on lower interest rates to buy a home will likely have to keep waiting, said Bryan Cutsinger, a professor of economics at Florida Atlantic University’ s College of Business. The strong jobs data, combined with higher-than-ideal inflation, means the Federal Reserve is highly likely to hold interest rates at its next meeting on June 17.
North Carolina Insurance Commissioner Mike Causey today announced the arrests of Gurjant Singh Gill, 42, and Karmpreet Kaur Gill, 41, of 8037 Remington Heights Drive, Raleigh. After receiving a settlement from State Farm for roofing damage on Oct. 10, 2025, the Gills sought to obtain $30,000 from Homesite Insurance by filing a claim for the same roofing damage,…
Under his leadership, the Bureau successfully saved Maine homeowners and automobile owners millions in insurance premiums and kept Maines auto insurance rates among the lowest in the country. As a member of the Governor's Infrastructure Rebuilding and Resilience Commission, Superintendent Carey created new resources to fortify Maine homes against…
When you go to the pharmacy, you might be offered a coupon on your prescription drugs. Even as prescription drug costs rise, patients with commercial insurance slowed their use of manufacturer-sponsored drug coupons in recent years, according to a study the Journal of the American Medical Association published April 6. These are not the same as discount card…
Lastly, AM Best has assigned an FSR of A+ and a Long-Term ICR of“ aa” to MSIG Specialty Insurance America, Inc. The outlook assigned to this rating is stable. The ratings assigned to MSIG Specialty Insurance America, Inc. reflects its strategic importance to the parent as a newly formed excess& surplus entity to support further growth of the business in the United…
The United States added 172,000 nonfarm payrolls in May, more than doubling expectations, the Bureau of Labor Statistics reported Friday. May's job growth was down from April's 179,000 jobs but beat the Dow Jones consensus estimate of 80,000. The unemployment rate remained at 4.3%. There were 7.3 million people who are unemployed in the United States in May,…
