California Insurance Commissioner Ricardo Lara on Friday announced what he’s calling “first of its kind” catastrophe modeling and ratemaking regulation that will allow carriers to use the models as a factor in setting and getting rates. The regulation is a part of his so-called Sustainable Insurance Strategy to increase coverage in wildfire-distressed areas of the … Read more
Given the amount of capital in the global reinsurance system, analysts at Morgan Stanley are asking how much lower pricing could decline in the property catastrophe line of business?The equity analyst team that focuses on insurance and reinsurance at the multinational investment bank and financial services company say that after the recent earnings season investors … Read more
The best high yield saving accounts are currently earning an annual percentage yield (APY) of 5% or more. Our list of high-yield savings accounts earn much more interest than the national average of 0.45%. If you’re looking to get a better interest rate on your savings, you need to find the best high yield savings … Read more
A reader asks: What’s the story with gold these days? My understanding is that in times of peril gold is where people go. In the most perilous times in the last ~5 years I feel like the price of gold really didn’t do anything. It wasn’t the hedge that most people associate with it. … Read more
NORTHBROOK, Ill., October 17, 2024 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of September of $889 million or $702 million, after-tax, including $630 million, pre-tax, related to Hurricane Helene. Total catastrophe losses for the third quarter were $1.70 billion or $1.35 billion, after-tax, and total catastrophe losses for September year-to-date were $4.55 billion or $3.60 billion, after-tax. During … Read more
