The SEC won a judgment against Rivetz Corp. and its CEO, Steven Sprague, after suing the defunct company for selling $18 million worth of Rivetz tokens in 2017 to over 7,000 investors. Representing himself, Sprague claimed the token in that“ initial coin offering” was a software product and not an investment contract under the securities-defining Howey test, as…
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The other day I read a story about soaring credit card debt that shocked me, but didn't surprise me. Credit card debt in the U.S. hit another record, hitting $1.14 trillion. Just last week, Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, gave the economy an "A," pointing out that the labor market is strong and inflation is coming down.
In the wake of Hurricanes Helene and Milton’ s devastating impacts on Florida, XINSURANCE, dba of Evolution Insurance Brokers, LC, takes to the road with a top-level team to help clients and communities navigate the aftermath. Rick J. Lindsey, CEO, President, and Chairman of XINSURANCE, will lead the team and emphasize the value of sending a top-level team to provide…
AM Best and Fitch Ratings each issued reports last week warning that Milton could stretch liquidity of Florida- based insurers that are primarily focused on protecting in-state homeowners. "Hurricane Milton poses a significant threat to the Florida property insurers concentrated in the state that lack diversification and therefore are acutely…
As a result, seniors should make sure they review their coverage during the annual open enrollment period that begins Tuesday and continues through Dec. 7, said Mike Carsey, a volunteer with Volunteers Assisting Seniors. Volunteers Assisting Seniors serves as the east-central Nebraska office of the federally funded Nebraska State Health Insurance…
To help inform voters, The World-Herald is offering articles on the major races and issues facing Nebraska voters in this year's election. World-Herald reporters are profiling the races for 11 Omaha metro-area legislative seats, the U.S. Senate, the 2nd Congressional District, the State Board of Education, the Omaha school board, as well as reporting on various…
Obamacare caused millions of Americans to lose their insurance plans while premiums skyrocketed, according to a new study from the Committee to Unleash Prosperity. However, individual market premiums surged, hundreds of billions of dollars were added to cumulative U.S. deficits and seven million consumers had their plans canceled following the ACA's…
The Huntsville Health System, which includes Decatur Morgan Hospital and Athens-Limestone Hospital, announced Thursday that it sent a notice of termination to United. Patients with United Healthcare insurance may continue to use Huntsville Hospital Health System as an out-of-network hospital. Highlands Medical Center in Scottsboro will leave Oct. 31;…
2024 OCT 11– By a News Reporter-Staff News Editor at Insurance Daily News– Researchers detail new data in Managed Care. Funders for this research include National Institute on Minority Health and Health Disparities of the National Institutes of Health, Blick Scholars Program at Virginia Commonwealth University. Our news editors obtained a quote from the…
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The Federal Emergency Management Agency said late Thursday that certain policyholders in seven states affected by Hurricane Helene whose insurance lapsed now have extra time to renew their coverage. For example, if someone's policy ended on Aug. 28, they normally would have had until Sept. 26 to renew it without risking a lapse in coverage.
Nuveen Municipal Credit Opportunities Fund Table of Contents As filed with the U.S. Securities and Exchange Commission on October 11, 2024. Nuveen California AMT-Free Quality Municipal Income Fund. 333 West Wacker Drive Chicago, Illinois 60606.
Rocky Mountain Power on Thursday withdrew its application to create a special-use account that would have drawn on Wyoming ratepayers to help underwrite wildfire insurance premiums and litigation costs. Those expenses have leapt dramatically in response to wildfires whose legal liabilities have so far cost parent company PacifiCorp more than a…
Gavin Newsom and state Insurance Commissioner Ricardo Lara believe they have no choice other than caving in to insurance industry blackmail. When State Farm announced a 30 percent hike in property insurance rates, neither elected official blinked. If they now won't write insurance, homeowners are forced to turn to the state Fair Plan, California's insurer of…
The town's insurance company negotiated the settlement with the woman's estate, and the Town Council voted to approve the settlement, Mayor Dan Champagne said. In April 2023, Bianca Colon-Hernandez, a 26- year-old Vernon resident who was raised in Bridgeport, and her 3- year-old son were passengers in a car being driven by her fiancé, Philip Vargas, when he…
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb+” of Quest Insurance Group Limited. The ratings also factor in the neutral impact from the company’ s ultimate majority shareholder, Federal Pacific Group Limited. In addition, Quest has a small absolute capital base at NZD 22.6 million, which increases the…
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to“ a-” from“ bbb+” of General Insurance Corporation of India. In addition, AM Best has revised the Credit Rating outlooks to stable from positive. In addition, the ratings factor in a neutral impact from the company’ s ownership by the government of India.
An Acadia Parish couple is suing travel insurers that refused to reimburse them for delays, missed flights and a $15,000 armored car rental fee they incurred escaping Israel in the days following the deadly Oct. 7, 2023, Hamas attacks that left more than 1,200 men, women and children dead. Pierre and Bertha Besse of Rayne, who are both in their 70 s and are Christian…
