The Federal Reserve said Tuesday it has ended its final consent order over Wells Fargo& Co., allowing the bank to grow beyond the $1.95 trillion asset cap that has restricted the bank since February 2018. The asset cap has put Wells Fargo at a competitive disadvantage compared with its national bank peers JPMorgan Chase& Co., Bank of American Corp. and Citigroup.
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The Best’ s Market Segment Report,“ MGA Premiums Show Double-Digit Growth for a Fourth Consecutive Year,” notes that National Association of Insurance Commissioners reporting regulations require that companies disclose individual MGA premium data only for those MGAs whose premium constitutes more than 5% of the risk-bearing entity’ s policyholder…
The California State Senate on Tuesday advanced the Golden State Commitment package, which proponents said will protect Californians from devastating wildfires. The package of 13 bills is a comprehensive legislative effort to strengthen California's wildfire response and recovery efforts, help stabilize the state's insurance market, streamline…
European Watch Company, the premier destination for luxury pre-owned timepieces, is proud to announce its exclusive partnership with Chubb, a world leader in insurance. The new collaboration, with one of the most trusted brands in the insurance industry, will make worldwide coverage available for EWC clients’ valuable watch collections.
Porch Group, Inc., a new kind of homeowners insurance company, today announced significant continued expansion with its insurance agency distribution channel, including new partnerships with Roamly Insurance Group, Evertree Insurance Services, LLC and MassDrive Insurance Group, LLC. “We are rapidly growing the number of agencies appointed at the…
The House voted 83-3 to override the veto and the Senate voted 42-2.. The measure, which becomes law Nov. 1, requires two additional mammogram tests to be covered by health insurance in Oklahoma. Melissa Provenzano, D- Tulsa, who is battling breast cancer.
The budget bill passed by the U.S. House of Representatives on May 22 would impact a number of Pennsylvanians who get their health care through Pennie or Medicaid, according to state officials. That bill has to be approved by the U.S. Senate to be finalized. About 270,000 people, or one out of every two Pennie enrollees, could lose marketplace health coverage if the…
By April, there were more available homes to buy than at any time since January 2020, according to the Federal Reserve of St. Louis. Then April 2, President Donald Trump rolled out his expansive global trade tariffs, shocking the stock and bond markets and sparking fears of a recession. "There isn't any urgency to buying right now- if anything it feels more risky to put a…
The Temple City Council approved the annual renewal for the city's employee health insurance policy with Gallagher Insurance for $1,122.33 per month, per employee. The estimated millage rates for Carroll County and Haralson County were approved to be submitted. Each year, the Carroll County and Haralson County tax commissioners set a rollback rate…
Dozens gathered on the west lawn of the Ohio Statehouse to raise awareness that a massive spending bill passed by Republicans in Congress could end up ending health care for more than 750,000 Ohioans. "But when they hear Caresource, they say' Oh yeah, my kids are on Caresource.' That's a problem everywhere. The U.S. House- passed Republican reconciliation budget—…
NOTICE OF SALE OF COLLATERAL PLEASE TAKE NOTICE that Lance Miller, solely in his capacity as the Courtappointed receiver in the case styled The Prudential Insurance Company of America, et al. VACDe, LLC et al., Case No. 24- cv-110: pending in the U.S. District Court for the Eastern District of California, is offering for sale to the public certain real estate pledged by…
As the scenario of a higher-than-average hurricane season is again upon us, the property insurance scenarios for homeowners and business owners in Florida are definitely getting better, insurance experts say. Mark Friedlander, a spokesman for the industry association's Insurance Information Institute, said rates are flat or even lowered across the state…
By Daniel F. Jackson, MD. Rising costs, declining reimbursement rates, physician burnout and the increasing cost of liability insurance all make it harder to recruit and retain doctors in Alabama. But a new law, passed by the Legislature and signed by Governor Kay Ivey, offers a bit of hope– and it's thanks to the leadership of State Representative Paul Lee of Dothan.
Slide Insurance CEO and founder Bruce Lucas has come under criticism yet again. Lucas and his wife, the company "s chief operating officer and chief risk officer, earned $50.3 million during the second and third years after building Slide on policies transferred from failing insurers and takeouts from state-owned Citizens Property and Casualty Insurance.
Fifteen Connecticut companies made the 2025 Fortune 500 list of the largest U.S. corporations, which was announced Monday– a sign of stability in the state's corporate sector. Bloomfield- headquartered health insurer and pharmacy benefit manager The Cigna Group again led the Connecticut contingent, ranking No. 13.. In comparison, about 1% of the U.S. population…
NEW YORK- The Federal Reserve said Tuesday that Wells Fargo is no longer subject to the restraints the Fed placed on the bank in 2018 for having a toxic sales and banking culture. WASHINGTON- The White House has officially asked Congress to claw back $9.4 billion in already approved spending. It requires President Donald Trump to get approval from Congress to…
A vast number of Hoosiers will be exempted from new legislation regulating pharmacy benefit managers– companies that administer prescription drug benefits for health plans, employers and other entities. Senate Enrolled Act 140 requires that insurers and PBMs guarantee network adequacy and restricts alleged anticompetitive practices– but Medicaid,…
Now, the Federal Reserve determined that Wells Fargo has met all the conditions required by the 2018 enforcement action for removal of the growth restriction, the Board of Governors of the Federal Reserve System said in a news release. Under the 2018 enforcement action, Wells Fargo was required to improve its governance and risk management program and…
San Diego is raising the fees patients get billed for ambulance rides by 18% over the next three years, but City Council members argued Tuesday that insurance companies will pay the hikes— not individual patients. The hikes, which the council approved unanimously, mean that for five consecutive fiscal years San Diego will have raised ambulance transport rates.
