Today, a sizable share of Louisiana homeowners now buy their insurance from small, undercapitalized and often unproven companies that lack the huge reserves to protect them when catastrophe strikes. While not new, the practice has grown increasingly common in Louisiana after most of the major insurance carriers abandoned the state in the wake of Hurricane…
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Nov. 26— The city of Yakima has reached a $3 million settlement agreement with the family of a man injured in a 2015 collision at the intersection of North 34th Avenue and Fruitvale Boulevard. Mario Garcia of Yakima had stopped at a stop sign and was attempting to cross Fruitvale Boulevard toward River Road in a Volkswagen Cabriolet convertible Sept. 15, 2015,…
The California Public Employees' Retirement System, the retirement system for California's state, school, and public agency workers, suffered investment losses of almost $30 billion in 2022. With the latest investment losses applied, Reason Foundation estimates CalPERS' debt is now $164 billion. After this year's financial losses, CalPERS reported that its…
First, the stock market has fallen since President Joe Biden took office. It is the worst performance of the stock market during the first two years of a presidency since Jimmy Carter's disastrous term in office over 40 years ago. There were no 401 retirement plans when Jimmy Carter was president, so relatively few working-class households were invested in the…
About 40% of workers are planning to push retirement later in life due to inflation, says a recent survey by the Nationwide Retirement Institute. For many retirees, $1 million is the magic savings number for retirement, but Americans are nowhere close to that figure, by and large. According to Vanguard's "How America Saves 2022" report, workers who were between 45 to…
To prepare for potential layoffs, Brian Robinson, a financial adviser and partner with SharpePoint, recommends making sure you have enough money to get by on a strictly bare-bones budget for three months. In the most recent recession, Ascensus, a retirement plan administrator, said that 21% of employers that use its 401 services suspended their contributions…
"The storm threw a monkey wrench in our project, but the machine is still moving forward," Dave Evans, owner of Luna Bar& Grill, said of the collaborative effort among downtown business owners to create a coherent bar, restaurant and shopping district. Beyond its importance to locals, a vibrant downtown in Louisiana's fifth-largest city would also provide a viable…
–Sapiens International Corporation,, a leading global provider of software solutions for the insurance industry, announced they signed an agreement with Toyota Insurance Management Spain with the aim of transforming and modernizing its business. As such, Toyota's insurer will be implementing Sapiens DianaSuite to manage the core of its insurance…
The increasing risk of wildfires in Colorado is driving insurance carriers to raise premiums on homeowners' policies— if they decide to insure them at all— and now the state's insurance chief is suggesting a publicly funded pool of money be established to provide property insurance for those who can't find it in the open market. Colorado experienced massive,…
This classic from 1940 stars Margaret Sullavan, James Stewart and Frank Morgan. The Shop Around The Corner is listed in Time Magazine's All-Time 100 movies and was selected for preservation in the United States National Film Registry in 1999, being deemed "culturally, historically, or aesthetically significant" by the Library of Congress.
Congress in August approved a $35 cap on what seniors will pay for insulin as part of the Inflation Reduction Act, along with free vaccines and other Medicare improvements. The Centers for Medicare& Medicaid Services provided initial details of the opportunity in a document distributed to the State Health Insurance Assistance Program, or SHIP, which assists…
To kick off their news aggregation efforts, an Insurance.Agency™ video team will cover the Insurance Information Institute' s Joint Industry Forum 2022 event on December 1st, 2022 in New York City. According to the Insurance Information Institute' s website, the Joint Industry Forum event is built around the theme of Leaning Forward into a Changed World, 2022' s…
The U.S. job market remains strong, consumer spending is resilient, and inflation has been slowing. Some were dipping more into savings, turning to "buy now, pay later" services that allow payment in installments, or running up their credit cards at a time when the Federal Reserve is hiking rates to cool the U.S. economy. Marcia Hallager works in West Chester, where she…
Investors will be greeted with a chorus of economic data this week. Among those listening for some harmony will be Federal Reserve leaders, as they prepare to deliver their last interest-rate decision of the year. The tempo of price hikes and new jobs has slowed in recent months, but has either been enough for the Fed to change its tune on interest-rate hikes?
2022 was a tough year. In February 2021, inflation was reported at 1.7%, just below the Federal Reserve's target rate of 2%. The Fed hopes that higher borrowing costs reduce spending and help ease rising prices.
The 43% jump in U.S. home prices in the past 18 months coupled with the Federal Reserve raising interest rates to combat inflation, means the market is entering a period of intense uncertainty, with plenty of turbulence ahead. The housing market has cooled, and Americans have grown uneasy, according to a market overview by Clever Real Estate.
Orange County Pharmacist Found Guilty of 22 Felonies for Her Role in $11 Million Scheme to Defraud the U.S. Military's Health Care Plan. LOS ANGELES– A licensed Orange County pharmacist has been found guilty by a jury of nearly two dozen federal criminal charges for her role in a health care fraud scheme in which more than 1,000 bogus prescriptions for…
The FBI and federal prosecutors are accusing a New Albany man of passing himself off as an expert cryptocurrency trader while defrauding investors of at least $10 million. Authorities arrested Rathnakishore Giri, 27, on Nov. 18 after a grand jury indicted him on five counts of wire fraud, according to the U.S. Department of Justice. Giri solicited investments…
A Beacon Journal colleague recently lamented that his six-month car insurance premium was going up by 17%, even though he had no claims, tickets or other changes to his family's driving patterns. So I contacted both Dean Fadel, president of the Ohio Insurance Institute, the trade group for the state's property and casualty insurance carriers and Robert Denhard,…
