Public finance

A Category 5 hurricane could lead to more than $200 billion in damage, Moody's Analytics said in a report released before the 20th anniversary of Hurricane Katrina.

The state will charge active employees higher salary-based health plan premiums to avoid a near-term $1.3 billion deficit.

Municipal bond insurance volume grew 12.6% in the first half of 2025 year-over-year, according to LSEG data.

California Sen. Dave Cortese proposed the bill as the state grapples with a shortage of affordable housing.

"Nothing could delay a restructuring or a consensual deal [more] than the existing board was doing," said Assured Guaranty CEO Dominic Frederico of the Trump administration's removal of Puerto Rico oversight board members.

Damage claims from the Eaton wildfire could wipe out the $21 billion fund created to protect utilities and their customers when an investor-owned utility's equipment is deemed responsible.

An academic paper presented at the Brookings Institute's annual conference found that future wildfire risks are already having economically significant impacts on financial markets, municipal borrowing costs and vulnerable communities.

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

In total, municipal bond insurers wrapped $41.09 billion of debt in 2024, an increase from the $35.38 billion insured in 2023, according to LSEG data.

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