Organization Root Tag

Congress and Trump Administration calls for elimination of Federal Insurance Office and FEMA, if successful, would ripple through insurance and banking industries, say climate financial risk policy experts and officials.

Buffett, the 94-year-old architect and face of Berkshire Hathaway Inc., announced that the gathering would be his last as head of the company.

Berkshire's Vice Chair of Insurance Operations Ajit Jain said Geico reduced the insurer's headcount from approximately 50,000 to roughly 20,000, though he didn't specify the time period for the reductions.

A cohort of Democratic senators on the banking committee expressed concern over the Department of Government Efficiency's ongoing efforts to cut Federal Deposit Insurance Corp. staff and contracts, saying they worried the efforts could weaken the nation's deposit insurer and expose sensitive bank data if improperly handled.

The agency is offering buyouts and early retirement incentives for employees, with layoffs possible if targets aren't met, as part of the Trump administration's overall downsizing of the federal government.

The measure applies to mortgages closed in the months prior to the Southern California wildfires, which are now experiencing early-stage distress.

Offices, apartment buildings and retail locations in Los Angeles face a tangle of difficulties as the smoke clears from January's wildfires. High on the list is inadequate insurance, a common problem in California.

The Nationwide Agency Forward survey suggests mid-market business owners are concerned about economic and financial risks, regulatory changes, technological disruption and workforce shortages.

The issues are hindering the Federal Deposit Insurance Corp.'s ability to meet its regulatory duties, according to the agency's Office of Inspector General. 

Rising insurance costs are leading providers and condo associations to consider changes to policies that would make some loans ineligible for GSE sale.

The Financial Integrity and Regulation Management Act would stop prudential regulators from writing rules or guidance that involve any use of reputational risk in supervision.

The governor aims to secure federal funding with latest executive order in aftermath of Los Angeles fires.

The rise of private credit will continue to benefit US life insurers, whose growing investments in the asset class bolster returns, allowing for more aggressive pricing, according to Moody's Ratings.

Prudential's Bob Bastian looks back on the company's 150-year history and focuses on the opportunities ahead for the insurance industry.

The legendary investor expressed his inclination for equities even after selling large chunks of Berkshire Hathaway's investments in three major banks. "That preference won't change," Buffett wrote in his annual letter to shareholders.

State Farm's "emergency" rate increase request was rejected by California's insurance commissioner.

A proposal to tie cancellation of private mortgage insurance policies to automated valuation models would add unnecessary risk to mortgage portfolios and would result in less, not more, affordable housing.

The Federal Deposit Insurance Corp. and other independent agencies will likely need to identify positions not explicitly required by law under a new Trump administration executive order aimed at downsizing the federal workforce.

Federal Reserve Chair Jerome Powell said insurance companies and banks are already pulling out of disaster-prone areas, which could pose problems.

California's insurance commission plans to impose a $1 billion assessment on private insurers to shore up the FAIR Plan.