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...NYCB bought the operations of Signature Bank, another lender that collapsed last year, in a deal arranged by the Federal Deposit Insurance Corp....
...The lack of affordable property insurance has even driven some to move home....
...In October 2022, Louisiana approved a 63 per cent rate increase on its residential property insurance policies starting this year....
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...That doughty — somewhat dull — Canadian insurance company known as Manulife does not often attract attention. This week, however, it caused a frisson in the real estate world....
...In his letter, Forstall pitched the bonds of the Citizens’ Bank, “bound upon the best property of the country”, he wrote, which “must ultimately succeed”....
...NYCB’s recent losses on property loans have rekindled worries about potential defaults in the real estate market....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...Brookfield Property Group said the FDIC was running a “secret” process to sell Signature Bank loans....
...California last month struck a deal with insurance companies to continue writing policies for property in disaster-prone areas, after big US names such as State Farm and Allstate stopped issuing any new...
...This includes the homebuilders (up 40 per cent or so) and commercial real estate plays such as Boston Properties and Simon Property Group....
...Corp....
...Senator John Kennedy, a Republican from Louisiana, pointed out that Gruenberg had been on the board of the FDIC when earlier allegations had surfaced following the inspector-general’s probe....
...Last year’s national championship game between Iowa and Louisiana State University drew more viewers than baseball’s World Series....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...One reason auto insurance can make such a big impact on inflation is, to put it simply, there are way more car owners in the US than there are homeowners in disaster-stricken California, Louisiana and Florida...
...Since the collapse of several large US regional lenders last March, Blackstone has been buying assets from banks and managing them on behalf of its credit and insurance clients....
...Finance and economics 101 tells us that a robust legal framework to protect property rights is one of the reasons lower risk investors prefer investing in the United States and other developed economies...
...The Army Corps of Engineers will work with the US Coast Guard to remove the collapsed bridge from the bow of the ship....
...Can India ween itself off coal without destroying the livelihoods of millions of its citizens?...
...Further reading: — What’s going on with US car insurance? — Car insurance! Again! — The US insurance storm continues — Taking a CLOser look at insurers...
...Steel said he “broadly” rejected such criticism, saying the firm’s research found insurance losses that had overshot expectations were explained by factors such as outdated information on property values...
...The last significant US bank to fail was First Republic, which was closed by the Federal Deposit Insurance Corporation in early May....
...Car insurance costs in the US have shot up by 23% in the past 18 months, dwarfing the overall rise in inflation. What exactly is happening? And what lessons can be learnt?...
...Progressive’s biggest first-quarter increases in severity came in the “bodily injury” and “property damage” categories, according to its 10-Q....
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