The effect is millions of Louisiana homeowners' premium dollars flowing to investors around the world who are making a high-risk, high-reward wager that a hurricane won't wipe out the state. Climate change, migration into risky areas and inflation have upended the global network of companies that backstop the risk of disasters like hurricanes in Louisiana,…
Newswires
Hurricane Milton was ripping through the Gulf's warm waters nearly 2,000 miles away, toward Florida. Louisiana's Insurance Commissioner Tim Temple, 1,500 miles away from home, mingled among the suits. It was a plea to get more insurers to enter the state— and for the industry in Bermuda to take on more of Louisiana's considerable risks.
The cuts to ARC programs in Boyd, Jackson, Fleming and Pulaski counties follow ARC's announcement last month it was restructuring some programs and laying off staff after the insurance companies, known as managed care organizations, or MCOs, first notified ARC of the pending cuts. In a statement, ARC said it remains committed to providing substance use disorder…
The Labor Department reported Thursday that applications for jobless claims fell by by 15,000 to 227,000 for the week of Oct. 19. Weekly applications for jobless benefits are considered a proxy for U.S. layoffs. In response to weakening employment data and receding consumer prices, the Federal Reserve last month cut its benchmark interest rate by a half of a…
The effect is millions of Louisiana homeowners' premium dollars flowing to investors around the world who are making a high-risk, high-reward wager that a hurricane won't wipe out the state. Climate change, migration into risky areas and inflation have upended the global network of companies that backstop the risk of disasters like hurricanes in Louisiana,…
Catastrophic inland flooding in North Carolina, South Carolina, and Tennessee has made headlines across the country in recent months. Nationally, 2,279 communities don't participate in the voluntary program that provides insurance against flood damage, according to the Federal Emergency Management Agency, and most homeowners policies won't cover flood…
The Federal Reserve, the U.S. central bank responsible for monetary policy, posted a dashboard earlier this year to identify and drill down into the characteristics of banking deserts and potential deserts, which are delineated by census tract. Soon thereafter, the Federal Reserve Bank of Philadelphia, one of the Fed's 12 operating arms nationwide, took an…
Rob Grant has joined Alliant Insurance Services as Senior Vice President and Producer in the Chicago office within its Employee Benefits Group. “Rob’ s extensive experience and deep client relationships make him a key addition to our team,” said Kevin Overbey, President of Alliant Employee Benefits.“ His ability to deliver innovative solutions and his passion…
For many Americans, early November not only signals Election Day but also means it's time to choose a health insurance plan for the upcoming year. This year, open enrollment for public health insurance plans begins Nov. 1, 2024, and closes on Jan. 15, 2025. During the open enrollment period, Americans have the option to enroll, renew, or change health plans through the…
For many American workers, the period from November to mid-January is open enrollment season, when they can sign up for or renew employer-sponsored health and disability insurance plans. However, according to the Policygenius Disability Preparedness Survey, less than one-third of working U.S. adults currently have any long-term disability insurance at…
CHICAGO- October 24, 2024- Old Republic International Corporation today reported pretax income, excluding investment gains, of $229.2 for the quarter and $714.7 for the first nine months. General Insurance pretax operating income declined 8.5% for the quarter and increased 4.6% for the first nine months. Net operating income per diluted share of $0.71,…
The Central Bank of Nigeria on Wednesday said there are moves to ensure that the foreign exchange market does not depend on the apex bank's intervention for supply and stability. Mohammed Abdullahi, CBN deputy governor on economic policy, made this known in a presentation on the sidelines of the World Bank/ IMF meetings holding in Washington DC.
According to the SEC's order, from March 2020 until November 2022, WisdomTree represented in prospectuses for three ESG-marketed exchange-traded funds, and to the board of trustees overseeing the funds, that the funds would not invest in companies involved in certain products or activities, including fossil fuels and tobacco. However, the SEC's order finds…
Research published in March 2024 found that one in four adults said that in the past 12 months they have skipped or postponed getting health care they needed because of the cost, and 6 in 10 uninsured adults say they went without needed care due to the cost. As open enrollment season approaches, choosing the right health insurance plan is one of the most important…
A Hilo doctor's lawsuit against Hawaii's largest health insurer will unexpectedly go before the state Supreme Court. Hilo obstetrician-gynecologist Frederick Nitta filed a lawsuit in 2022 against the Hawaii Medical Services Association over several several incidents in which the insurer failed to cover certain medications and treatments he…
WASHINGTON– Maria Losoya isn't a doctor. But in southern Arizona's border communities, she performs a special kind of life-saving health care. It's a strength that has made Losoya a trusted face in her home of Santa Cruz County, where nearly one in three residents were uninsured in 2022– the highest rate in the state, according to the National Institutes of Health.
Top state lawmakers plan to address soaring homeowners insurance premiums when they return to Austin in January for the next legislative session, according to the Houston Chronicle. The median home price in Texas has risen 40% in the past five years. ALARM SOUNDED OVER LANGUISHING FARM BILL Texas farmers, ranchers and lawmakers are voicing concerns that an…
The background: Virginia regulators say the state's insurance market is generally in better shape than in other states. What those calls reflect is what insurance insiders call a "hard market"- rising claims costs and consumer demand for more coverage that push premium rates higher, Virginia Commissioner of Insurance Scott White said. Everybody sees the news…
A Hilo doctor's lawsuit against Hawaii's largest health insurer will unexpectedly go before the state Supreme Court. Hilo obstetrician-gynecologist Frederick Nitta filed a lawsuit in 2022 against the Hawaii Medical Services Association over several incidents in which the insurer failed to cover certain medications and treatments he considered to be…
