Texas faces a dual challenge when it comes to delivering healthcare. Some members of Congress want to limit tax-free benefits and slap a federal tax on employer-sponsored insurance premiums above government-defined thresholds. Levying a tax on the insurance premiums of hard-working Texans could lead to families earning $100,000 per year facing an…
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Mike Jacobson's bill to extend Nebraska's quest for more federal Medicaid help beyond hospitals sailed Tuesday to first-round approval in the Legislature. Those funds then would be continually recycled between those insurers and the state, serving as Nebraska's share of matching funds to unlock more federal money to repay physical health providers for…
The California FAIR Plan on Tuesday was allowed to seek $1 billion from insurance companies that do business in the state in response to the Los Angeles wildfires— half of which could ultimately be covered by policyholders. The move was approved by Insurance Commissioner Ricardo Lara. Overall, it could face $4 billion in losses for those and another fire in Los…
Bay Area homeowners will likely be on the hook for helping bail out California "s insurer of last resort to the tune of $1 billion after it ran out of money to pay claims from the devastating Los Angeles wildfires. The amount each insurance company must pay will be based on its market share in California. Under state law, insurers can only charge their customers up to…
Canadian Imperial Bank of Commerce. The notes will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation, or any other government agency or instrumentality of Canada, the United States or any other jurisdiction. Neither the Securities and Exchange Commission nor any state or provincial…
STAR-ADVERTISER Josh Green 1/ 2 STAR-ADVERTISER Josh Green GEORGE F. LEE/ 2023 Inspections of Lahaina residential areas followed the wildfires in 2023.. 2/ 2 GEORGE F. LEE/ 2023 Inspections of Lahaina residential areas followed the wildfires in 2023.. More than 17, 000 individuals or entities represented by attorneys have claims from the Aug. 8, 2023, fire that…
—Federal Reserve Chair Jerome Powell said Wednesday that President Donald Trump's calls for lower interest rates won't lead the central bank to change its rate decisions. “People can be confident that we’ ll continue to keep our heads down, do our work, and make our decisions based on what’ s happening in the economy,” Powell said, under questioning from members of the…
California "s insurance commissioner approved a plan Tuesday, Feb. 11, to keep the state" s insurance of last resort solvent by collecting an additional $1 billion from all private insurance members after a record number of claims were filed following January wildfires in Los Angeles County. Also see: Why all California homeowners could be on the hook for LA…
WASHINGTON— U.S. inflation accelerated last month as the cost of groceries, gas, and used cars rose, a disappointment for families and businesses struggling with higher costs and likely underscoring the Federal Reserve’ s resolve to delay any further interest rate cuts. The consumer price index increased 3% in January from a year ago, Wednesday’ s report from the…
More tariffs are expected, however: Trump is taking additional action to upset the world trade system, with plans to sign an order as soon as Wednesday that would require that U.S. tariffs on imports match any tax rates charged by other countries. With the tariffs he’ s unleashed so far, Trump has fully taken ownership of the path of the U.S. economy, betting that he can…
—U.S. stocks are sinking after a report said inflation is unexpectedly getting worse for Americans. Treasury yields also climbed in the bond market as traders cut back their forecasts further for how much relief the Federal Reserve may provide this year through lower interest rates. Markets took a sharp downward turn on Wall Street after U.S. government data…
Mike Jacobson's bill to extend Nebraska's quest for more federal Medicaid help beyond hospitals sailed Tuesday to first-round approval in the Legislature. Those funds then would be continually recycled between those insurers and the state, serving as Nebraska's share of matching funds to unlock more federal money to repay physical health providers for…
Ordering the insurance companies' FAIR Plan to continue swiftly paying claims to Southern California wildfire survivors, Insurance Commissioner Ricardo Lara today took action to maintain its solid financial footing. The FAIR Plan, an insurance safety net that the state requires insurance companies to operate, requested the commissioner's approval for…
Connor Foley has joined Alliant Insurance Services as Vice President within its Employee Benefits Group. Foley earned a bachelor’ s degree in risk management and insurance from the University of Mississippi. Alliant Insurance Services is one of the nation’ s leading distributors of diversified insurance products and services.
When her newborn daughter, Aniya, was diagnosed with spinal muscular atrophy, Abilene resident Hailey Weihs learned time was of the essence. Aniya's diagnosis affects 1 in 6,000 children, according to Johns Hopkins Medicine. Weihs and other Texans have partnered with the advocacy group Texas Coalition for Patients to share their stories and push for new…
One Inc, the leading digital payments network for the insurance industry, today shared highlights of a transformative year marked by significant achievements. With revenue growth of 55%, 87 new agreements closed, and an annual run rate of $100 billion processed, One Inc continued to set new standards for excellence. Among the year’ s notable milestones, Nordic…
On this day, my thoughts and prayers are with the families affected by the devastating wildfires in Southern California. Having spent 20 years of my Navy career in Southern California, my heart is broken seeing the once verdant neighborhoods look more like the lunar landscape. Sadly, this calamity highlights the urgent need for better preparedness and…
Senate Bill 39 was adopted by Republicans on a 33-19 party-line vote. Fellow Democrats contended the bill would harm the economy by causing workers to leave the state and that it would violate the federal Civil Rights Act of 1964.. Nikki Merrit, D- Grayson, said Republicans will use the bill to distract their constituents from issues that affect them daily, such as…
New Mexico has "definitely been one of the states that has faster than the national average growth in housing costs," according to Nicholas Sly, a Denver branch executive and economist with the Federal Reserve Bank of Kansas City. "Rents as well grew very, very quickly in the northern part of the state," Sly added, whose job entails staying on top of economic conditions…
