The Illinois House passed Senate Bill 714 to regulate the auto insurance industry and House Bill 4273 to regulate property insurance. Thaddeus Jones, D- Calumet City, said SB 714 would bring consumer protection and affordability to residents. Jeff Keicher, R- Sycamore, said Giannoulias could lower rates now by applying license renewal tests to people who have…
Newswires
As the cost of gas stays high due to Middle East tensions, it's spilling over into U.S. consumer spending more broadly and creating a conundrum for the Federal Reserve. Americans don't need a press release to know that inflation is rising. Gasoline is above $4 per gallon amid the ongoing conflict in the Middle East and closure of the Strait of Hormuz, and the release…
–After months of negotiations, Blue Cross Blue Shield of Michigan and Michigan Medicine announced they have reached a long-term contract agreement. “Blue Cross is pleased to reach this long-term agreement with our partners at Michigan Medicine– ensuring continued access to the system’ s medical care services for our members, while advancing the…
U-Haul Holding Company, parent of U-Haul International, Inc., North America’ s largest“ do-it-yourself” moving and self-storage company will participate in the Bank of America Self-Storage Virtual Conference on Thursday, May 28, 2026. U-Haul Holding Company is the parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance…
The average long-term U.S. mortgage rate rose again this week, reaching its highest level in nine months, another setback for prospective homebuyers. They generally follow the trajectory of the 10- year Treasury yield, which lenders use as a guide to pricing home loans. Bond yields have been easing this week amid hopes that the United States and Iran may reach a…
Federal Reserve Financial Services today announced the upcoming retirement of Mark Gould, Chief Payments Executive, culminating a distinguished career spanning more than three decades of leadership, thoughtful stewardship, and service to the nation’ s payments system. “Looking back on my 35- year career at the Federal Reserve, it’ s clear why so many people…
SPRINGFIELD— Illinois lawmakers on Wednesday advanced two long-debated measures to prevent insurance companies from raising auto and homeowners "insurance rates without more stringent state oversight, and Gov. In Illinois, the company said it paid out $1.26 in claims for every $1 in premiums collected from homeowners in 2024, including $638 million in…
AM Best has upgraded the Long-Term Issuer Credit Rating to“ bb+” from“ bb” and affirmed the Financial Strength Rating of B of Life Insurance Corporation B.S.C. (c). The outlook of these Credit Ratings is stable. The ratings also reflect rating enhancement, in the form of lift, from its ultimate shareholder, the Republic of India.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Berkeley Re Designated Activity Company. The outlook of these Credit Ratings is stable. Berkeley Re is the captive reinsurer for Mondelez International, Inc., a global confectionary, food and beverage company based in the United States.
AM Best has assigned a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of“ a-” to Westcor Land Title Insurance Company. The outlook assigned to these Credit Ratings is stable. The company’ s neutral business profile is supported by Westcor’ s ability to maintain a solid market position within the U.S. title insurance segment, in which it ranks as…
Kathy Hochul has signed a package of reforms in the new state budget that will provide relief to New Yorkers with lower car insurance premiums. “Outdated laws, special interest loopholes and jackpot insurance payouts to bad actors have long forced New Yorkers to pay some of the highest car insurance rates in the nation,” Hochul said.“ These hard-fought reforms are…
The U.S. Securities and Exchange Commission (SEC) has postponed a proposal that could have eased rules for crypto companies seeking to trade digital tokens linked to publicly listed shares, following concerns raised by major players across financial markets. Crypto industry players like Riot Blockchain Inc. (NASDAQ: RIOT) will continue to watch what regulatory plan the SEC eventually […]
Newrez, a leading homeownership company, today announced it is expanding its partnership with digital insurance marketplace Matic to bring always-on, real-time homeowners insurance comparison into its HomeHub customer portal. Through this integration, Newrez homeowners can instantly compare personalized homeowners insurance coverage options and…
Jerome Powell "s days as Federal Reserve boss were akin to a roller coaster ride for Southern California" s housing market. You can "t pin all of housing" s gyrations on the now-departed Fed chairman. Yet his eight years as the head of the nation "s central bank were a tale of two worlds for real estate, which basically doubled a typical Southern California homebuyer" s…
For the third year in a row, Washington insurance companies requested a double-digit rate increase for their individual health plans, reviving worries that the cost of coverage is becoming untenable. This seems quite significant, "said Matt McGough, policy analyst at KFF, a research organization that focuses on the healthcare system. Health insurers in…
New York Life today announced the launch of“ The Assist,” a short-form docuseries that looks beyond performance on the field to the people who made it possible. New York Life has also committed $15 million over three years to partnering with organizations developing the next generation of coaches and mentors through the New York Life Foundation’ s Coaching the…
The following information was released by the Federal Reserve Board:. To say that these stints at Stanford were transformative would be an understatement. In fact, I started my research on patents and innovation or the economics of innovation here and benefitted greatly from my interaction with economists here at the Stanford Institute for Economic Policy…
Research from the Employee Benefit Research Institute shows strong demand for guaranteed income, with more than four in five workers expressing interest 1, while research from Goldman Sachs Asset Management highlights that, alongside this demand, consumers increasingly value solutions that combine reliable income with flexibility. 2.
Louisiana will dole out a record 3,000 grants to help homeowners put fortified roofs on their homes in the coming weeks, after elected officials agreed on a bill that injects $50 million into the program. Paul Sawyer, R- Baton Rouge, which will allow the Louisiana Citizens Property Insurance Corporation to send excess funds from Hurricane Katrina-era…
