The horrific string of wildfires that has plagued California in recent years, taking dozens of lives and destroying many billions of dollars in property, also created a crisis in property insurance. Some insurers have abandoned California altogether, some have refused to take more clients, many have sought premium increases and the state's…
Newswires
When 35- year-old Jessica Rhodes walked into a residential treatment program in Phoenix three months ago, she had almost nothing left. A week later, she checked herself into Lifewell, a residential treatment program run by Terros Health. Terros Health is one of 24 federally qualified community health centers in Arizona that provide care to low-income…
Authorization for the largest residential flood insurance program in the U.S. is set to expire Tuesday, leaving homeowners unable to access new coverage and potentially wreaking havoc on home sales in flood-prone areas. If Congress is unable to pass a spending bill before midnight Tuesday, the NFIP, like much of the federal government, will freeze.
In the past 30 days, Best’ s Review readers have been most interested in the following insurance news coverage:. “Mutual Insurers Dominate Market Share in Farmowners Multiperil, Disability Income, Other Lines” examines AM Best data to find out where mutuals have a dominant share of the market.“ US Life/Annuity Insurers Embrace Alternatives and Mortgages” provides…
However, the enhanced level of financial support that has been in place since 2021 will expire at the end of this year, and Congress passed up multiple opportunities to extend it as part of the Big Beautiful Bill signed into law in July. Unless Congress approves legislation on the enhanced subsidies, millions of Americans will face higher costs as a result.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Rembrandt Insurance Company, Ltd., a captive insurer of Vitol Holding B.V., a group engaged in the trading of energy-related products. The outlook of these Credit Ratings is stable. The ratings reflect Rembrandt’ s balance sheet strength, which AM Best assesses as…
The United States is preparing for a major wave of cryptocurrency exchange-traded funds, better known as ETFs. This comes after the Securities and Exchange Commission (SEC) introduced new rules that make it easier and faster for asset managers to bring crypto investment products to the market. The move is expected to attract both established firms and new […]
“Lower borrowing costs ripple across every part of the real estate ecosystem— from construction financing to permanent loans and refinancing,” said Shravan Parsi, CEO of American Ventures.“ For Texas, where population growth and job creation continue to lead the nation, this environment allows more projects to cross the financial feasibility line— especially…
AM Best will host a market briefing on the state of the U.S. property/casualty and global reinsurance industries in conjunction with the American Property Casualty Insurers Association’ s Annual Meeting, on Monday, Oct. 6, 2025, at 2 p.m. EDT at the JW Marriott Orlando, Grande Lakes in Orlando, FL.. At the market briefing, AM Best Senior Directors and Jacqalene Lentz…
The following information was released by the Federal Reserve Board:. Thank you for inviting me to speak here today.1 The theme for Sibos this year, "the next frontiers of global finance" is a fitting one. We are indeed witnessing a new frontier of innovation in payments and the broader financial system.
It's hard to believe that a couple years ago Time magazine considered naming Federal Reserve Board Chairman Jerome Powell as their Person of the Year. He may well have won, if it hadn't been for someone named Taylor Swift. Here are the facts: In the second quarter of this year, the U.S. economy grew by 3.3%, and with a few weeks to go in the third quarter, the Federal…
Roger Birge Jr. pleaded guilty Sept. 29 to participating in a yearslong conspiracy to defraud the Federal Crop Insurance Corporation. Birge rented and owned farmland in Barren, Hart, Metcalfe and Monroe counties, and he had insurance coverage on the crops for 22 years. In 2016, Birge obtained false sale documents from the Farmers Tobacco Warehouse in Danville, to…
The following information was released by the office of the Governor of Minnesota:. Governor Tim Walz today convened a roundtable discussion with state leaders and health care experts to address the rising cost of health insurance in Minnesota. These policy choices dont just raise premiumsthey put real Minnesotans, from the metro to greater Minnesota, at…
FGH Parent, L.P.,, a leading global reinsurance company, today announced that Fortitude Life Insurance& Annuity Company has entered the market for funding agreement backed notes, with its inaugural offering to institutional investors scheduled to settle Oct. 6, 2025. The Issuer has priced a private offering of $500 million aggregate principal amount of 4.625%…
–As of this writing Bitcoin is trading near $112,200.00. The last time Bitcoin traded below 100,000.00 was in late June, but support around the $108,000.00 has been prevalent since the first week of July. The high was on the 18th, which was after the U.S Federal Reserve’ s interest rate decision to cut interest rates.
After all, the market is certainly one that isn’ t showing a lot of strength, despite the fact that the FOMC cut interest rates recently. I suspect this is because the Federal Reserve isn’ t panicking, and therefore people were worried that they are not going to cut interest rates fast enough. Interest rates in the United States have been rising as bonds have been…
—Europe's economy is holding up better than expected in the face of U.S. President Donald Trump's new tariffs- in part because the European Union didn't retaliate with self-defeating tariffs of its own, the head of the European Central Bank said Tuesday. “A year ago, most would have assumed that U.S. tariffs… would trigger a major adverse shock to the euro area…
USAA has appointed Rob Arena as President of USAA Life Insurance Company, effective January 5, 2026. “Rob brings extensive expertise and a values-driven approach that will strengthen USAA’ s ability to serve members with comprehensive life and retirement solutions that build financial security,” said USAA CEO Juan C. Andrade.“ His proven leadership in…
Corebridge Financial today announced countrywide availability of its life insurance products through Allstate Financial Services, LLC, representing a strategic addition to the distribution partner network for the Corebridge Life Insurance business. “Corebridge is pleased to announce this significant distribution partnership with Allstate…
