Organization Root Tag

Lenders and other businesses active in the state also stepped up with large donations and charitable campaigns in the days following the flooding disaster.

The chance at a piece of strong returns has encouraged investment banks, hedge funds and debt investors to vie for contracts to fund the litigation, according to people involved in transactions.

"We want to wean off of FEMA, and we want to bring it down to the state level," Trump told reporters on June 10 during a briefing in the Oval Office.

Uber sued a group of lawyers, medical providers and rideshare drivers it claims staged car accidents, manufactured damages and received unnecessary medical procedures to take advantage of insurance policies in Florida.

The rise of autonomous vehicles will force a reconfiguration of the $400 billion U.S. auto-insurance industry, according to Goldman Sachs.

Federal agencies that provide weather data are losing funding or being reorganized, forcing carriers to find new storm data sources.

The insurance market isn't keeping pace with the connected, data fluid, and intelligent potential already inherent in the automotive sector.

As the Federal Deposit Insurance Corp.'s Deposit Insurance Fund inches toward replenishment, acting Chair Travis Hill suggested that banks should be assessed on a range of metrics rather than insured deposits alone.

Marsh McLennan moves to Amazon cloud; ZestyAI in Connecticut and West Virginia and more insurtech news.

Hub International Ltd. has raised $1.6 billion in fresh equity in a funding round that values the insurance brokerage at $29 billion.

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.