INN Daily Newsletter INN Insider Only

While the leader of Berkshire Hathaway's insurance operations described Jan. 1 property-catastrophe reinsurance pricing as disappointing, the "day in the sun" came at April 1, allowing Berkshire to write almost as much as it can. Ajit Jain also said the potential downside of deploying all that capacity is a potential $15 billion loss if a hurricane hits Florida…

The president of the district of the Federal Reserve in New York, John Williams, said on Tuesday, that does not project cuts in basic interest rates this year. The Fed leader also stated that "it will take some time" to rebalance supply and demand in the United States and thus return inflation to the 2% target. The Fed's New York district president said that inflation…

When I'm asked if an annuity is a good buy, I reply: it all depends on your situation and your goals. Once you've settled on what you want to accomplish, you can decide whether an annuity makes sense for you, realizing that different types can help you meet different financial goals. Social Security benefits aren't sufficient to fund retirement for most people.

The US Federal Reserve on Thursday confirmed what was already an open secret: that banks reported a tightening in lending standards and lower loan demand in the first quarter, extending a trend that began before recent banking sector stresses emerged in the wake of the central bank's aggressive rate hikes from spring 2022.. The proportion of U.S. banks…

Paul Bradford helped a friendly contractor win bids for a 2018 tornado repair project. Prosecutors said the scheme cost Vermeer at least $250,000.

As New Orleans heads into hurricane season, changes could be on the way for the National Flood Insurance Program, with 17 proposed edits up for adoption by Congress.Why it matters: With last year’s Risk Rating 2.0 updates to the NFIP, Louisiana owners of single-family homes are already projected to see their premiums jump 134% on average, reports NOLA.com | The…

J.B. Pritzker introduced in February estimated the cost of a program that provides state-funded health insurance to adult immigrants who are in the country without legal permission at $220 million. The General Assembly's spring session is scheduled to adjourn May 19. Illinois created a program in 2020 that provides Medicaid-style coverage to immigrants…

A married couple from a small town in the far interior of Alaska has been charged with wire fraud in connection with a sham marijuana tourism business that they never intended to launch, federal prosecutors said in a recently unsealed indictment. The pair allegedly bilked 22 investors out of $722,000. Brian and Candy Corty from Delta Junction, Alaska, were indicted by a federal…

May 4— Disgraced ex- San Antonio attorney Chris Pettit stole tens of millions of dollars from his law clients with "the aid and assistance" of Wells Fargo Bank, a new lawsuit alleges. Filed Tuesday in U.S. Bankruptcy Court in San Antonio, the action also names Pettit as a defendant. AWAITING TRIAL: Disgraced ex-lawyer Chris Pettit gets trial postponed for plea…

If the federal government breaches the debt ceiling, Medicare wouldn't be able to pay providers — and states wouldn't get their federal Medicaid funding, experts tell Axios.Why it matters: Losing out on those payments, even for a short time, could be disastrous for providers’ bottom lines — and the effects could trickle down to patients.An extended default could have broad…

May 2— A federal grand jury indicted an East Bay man Tuesday for lying to investors about a plan to buy and resell basketball tickets, a Ponzi scheme that prosecutors allege defrauded victims of $39 million over seven years. Derek Vincent Chu, 41, is accused of soliciting investments in a fake scheme to resell professional basketball tickets and luxury suites at…

WASHINGTON- The Federal Reserve is preparing to raise its benchmark interest rate for a 10th time Wednesday, the latest step in its yearlong effort to curb what has been inflation at the fastest pace of hikes in four decades. But economists and Wall Street traders will be more interested in what the Fed and its head Jerome Powell say in a statement and at a press…

Higher interest rates and market volatility helped drive a record increase in annuity sales in 2022. Total sales surged to $310.6 billion, 22% higher than 2021 and 17% higher than the previous record level set in 2008, according to LIMRA. “It was a very unique year in the individual annuity market,” said Todd Giesing, assistant vice president of LIMRA annuity…

Sloppy oversight by Federal Reserve regulators contributed to a rapid failure of Silicon Valley Bank that shook the global banking sector earlier this year, according to the Fed’ s hotly anticipated probe of the lender’ s downfall released Friday. Fed supervisors“ did not fully appreciate the extent of the vulnerabilities as Silicon Valley Bank grew in size…