The Federal Home Loan Bank of Dallas has launched the Community Advancement through New Opportunities and Partnerships Yielding Results Fund, a loan fund aimed at supporting affordable housing and economic development initiatives. The pilot program serves FHLB Dallas’ District of Arkansas, Louisiana, Mississippi, New Mexico and Texas.
Newswires
—The Federal Reserve sees cooler inflation and slower job market, suggesting a rate cut is nearing.
A hidden insurance market is costing American homeowners and drivers dearly. It's called reinsurance, and insurance companies buy this coverage to help them cover losses following catastrophic events. "Reinsurance capacity has become constrained, and the cost of reinsurance has increased," said Betsy Stella, vice president of carrier management and…
Project 2025, the presidential transition plan of the Heritage Foundation, calls for the federal government to end the National Flood Insurance Program. "When flood costs exceed NFIP's revenue, FEMA seeks taxpayer-funded bailouts," said the group in Project 2025' s book "Mandate for Leadership," in a chapter focused on dismantling the Department of Homeland…
The losses to Texas, which was hardest hit, are estimated to be several billion. It then made its way northeast, fueling tornadoes in eastern Texas and western Louisiana, up into Arkansas and Missouri. To put Beryl into context, AccuWeather said, Hurricane Idalia, which first hit Florida last year, caused $18 billion to $20 billion in total damages and economic loss.
The US Federal Reserve is highly unlikely to waver from its position of holding interest rates at a two-decade high on Wednesday, but could drop hints about a September start to rate cuts. The US central bank's key lending rate has been at a two-decade high between 5.25 and 5.50 percent for the past year, with policymakers seeking to bring inflation back down…
Two years ago, when St. Johns Insurance Co. was going under in Florida, state regulators let Slide Insurance— a startup company that virtually no one had ever heard of— take over 147,000 St. “It’ s an unfair advantage for Slide and it just seems like a sweetheart deal,” Bob Ritchie, the CEO of Tampa- based American Integrity Insurance told the Journal at the time.
Although you may not think of it as a retirement haven, a Bankrate analysis found Delaware strikes the best balance between affordability, climate and cultural amenities. "While Delaware is a pricier state to live in, the state's high-quality healthcare, light tax burden, affordable homeowners insurance and good weather propelled it to the top spot this year,"…
Michigan personal auto insurance affordability has improved markedly since the state enacted significant auto insurance reform in 2019, according to a new report, Personal Auto Insurance Affordability in Michigan, published by the Insurance Research Council, a division of The Institutes. Before the reforms, Michigan drivers were required to purchase…
Net premiums written increased by approximately 13% to reach $11.9 billion in 2023, up from $10.5 billion in 2022.. “Fraternals have typically focused on expanding distribution and growing annuity sales, which are attractive products in a rising or higher interest rate environment,” said Ed Kohlberg, director, AM Best.“ For some, significant new business…
Whether the 2008 winner was Barack Obama or John McCain, the 44th American president was going to have to deal with the messy fallout of the Global Financial Crisis. Winning in 1980 meant suffering through a nasty recession as the Federal Reserve raised interest rates and reset inflation expectations. As that happens, the Federal Reserve is preparing to cut…
WASHINGTON— The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell told Congress on Tuesday, a shift in emphasis that suggests the Fed is moving closer to cutting interest rates. The Fed made "considerable progress" toward its goal of defeating the worst inflation spike in four decades, Powell told the Senate…
Orion180, a leading innovator in the insurance industry, is excited to announce its continued geographical expansion with its homeowner’s insurance services and coverage offerings into the state of Ohio. Through Orion Select Insurance Co., Orion180’ s admitted insurance carrier, Ohio homeowners can now choose from a variety of customizable coverage…
AM Best has affirmed the Financial Strength Rating of B- and the Long-Term Issuer Credit Rating of“ bb-” of Life Insurance Company Kommesk-Omir JSC. A partially offsetting rating factor is the relatively low credit quality of Kommesk Life’ s investment portfolio, reflecting its concentration in its domestic market, which exposes the company to high levels of…
A newly created state commission looking for ways to improve health-care access and quality for low-income uninsured Georgians held its kickoff meeting Thursday. The nine-member Georgia Comprehensive Health Coverage Commission was authorized in legislation the General Assembly passed this year overhauling Georgia's "certificate-of-need" law…
AM Best will host a market briefing on the state of the captive insurance industry on Wednesday, Aug. 7, 2024, at 2:00 p.m.. Joe Martin, senior vice president& captive executive, Captive Resources LLC; Jo Mather, insurance director, Phillips 66; Steve McElhiney, senior vice president& global director of reinsurance, Artex Risk Solutions; Dan Teclaw, director, AM Best..
The past three months of economic data offer an increasingly clear picture to Federal Reserve policymakers wrestling with the moment to begin cutting interest rates. The Federal Reserve is tasked with controlling the supply of money by setting borrowing rates for banks and buying or selling government debt. The Fed slows short-term economic activity by…
—Pay and benefits for America’ s workers grew more slowly in the April-June quarter than in the first three months of the year, a trend that could keep price pressures in check and encourage the inflation-fighters at the Federal Reserve. Compensation as measured by the government’ s Employment Cost Index rose 0.9% in the second quarter, down from a 1.2% increase in…
Amanda Rentfrow has joined Alliant Insurance Services as Senior Vice President within the Alliant Americas division. Rentfrow earned a double bachelor’ s degree in finance and insurance and risk management from the University of South Carolina. Alliant Insurance Services is one of the nation’ s leading distributors of diversified insurance products and…
