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...The move has already caused ructions among direct insurers, contributing to the decisions of insurers such as State Farm to stop underwriting new home cover in California....
...One insurance executive said the emergence of a “state-sponsored” competitor could undermine insurers who had built business models predicated on a wave of corporate pension deals....
...The paper, sent to the commission this weekend, asks to prolong separate emergency legislation introduced during the crisis that allowed member states to accelerate permitting of wind farms and solar power...
...It was 2003 when the 98 state-of-the art machines were erected. Now their age is showing....
...Several big US insurers, including State Farm and The Hartford, have paused their underwriting of new home policies in the state of California....
...It was like a chef going to the farm for the first time.” For Wilkinson Schor, making fashion easier is still a big part of her ethos....
...Nides is also expected to support Blackstone’s continued diversification beyond corporate buyouts into areas such as insurance-related investments....
...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...
...Ørsted ended up taking a $4bn writedown on cancelled offshore projects in New Jersey; BP and Equinor petitioned state authorities (ultimately successfully) to let them out of a contract for a wind farm off...
...The legislation in question is the Corporate Sustainability Due Diligence Directive (CSDDD)....
...Few food and agriculture companies state how much their net zero goals depend on using land as a carbon sink....
...Indeed happiness is now officially a thing in corporate life to help improve staff morale, according to my colleague Oliver Balch. How are you feeling?...
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...Although Switzerland is not an EU member state, its former trade arrangements with the UK were based on EU rules....
...“They have been allowed to go to their capitals, but in India they are not being allowed to reach Delhi on the behest of the corporates.”...
...The wall of buying has Beijing’s fingerprints all over it as Central Huijin, an investment arm of China’s sovereign wealth fund, joined a raft of state-owned insurance companies and asset managers in buying...
...Allstate, State Farm and AIG have stopped underwriting new homeowners’ policies in California because of the risk of destructive wildfires....
...This extra volatility generates more risk for the economy and for banks, insurance companies and other intermediaries exposed to it....
...But that link is incredibly weak, and there’s no sense in which the National Insurance Fund is actually paying for the state pension and the NHS and other welfare benefits....
...Although the decisions by US insurers such as Allstate and State Farm to stop writing homeowners insurance in California may appear unduly harsh, they do serve to make the hazard risk explicit (“What happens...
...During the pandemic, the US government required Medicaid programmes — federal and state-supported medical insurance for people on low incomes — to keep people enrolled in the system....
...Delaware vs Musk: The billionaire’s threat to move Tesla’s legal home has revived debate over the dominance of the small, mid-Atlantic state and its courts over corporate America....
...Deutsche Bank has hired Andy Tam from Perella Weinberg Partners as co-head of Americas insurance in the financial institutions group. He will be based in New York....
...US underwriter State Farm cited a “challenging reinsurance market” as well as “rapidly growing catastrophe exposure” when it announced in May it would cease writing homeowners insurance for new customers...
...In the event, he said that better than expected public finances allowed him to help individuals, with cuts to national insurance contributions and a boost to the state pension....
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