Next year, 1,000 homeowners across the state will receive up to $3,000 to seismically retrofit and protect their homes from earthquake damage. The Earthquake Brace + Bolt program is expanding to include more than 150 ZIP codes in vulnerable areas in Northern and Southern California
FEMA Also Saying If Policyholders Do Not Supply & Other Information to Review Process Within Short 14-Day Period, Their Cases Will Be Closed; Schumer & Gillibrand Urges FEMA to Immediately Work With All Policyholders Who Have Not Yet Submitted Pertinent Info to Agency & To Get Going On Backlog
Chief Financial Officer Jeff Atwater knows that Florida’s homeowners carry insurance to protect their property in the event of an emergency, natural or otherwise. Floridians have seen the costly destruction hurricanes can cause as well the financial volatility that storms can create in the property insurance market. Each year, the Office of Insurance Regulation tests the financial soundness of property insurance companies that conduct business in the state of Florida to ensure they can withstand the catastrophic losses generally associated with major storms.
The American Bankers Association – through its subsidiary the Corporation for American Banking – has endorsed the mortgage insurance solutions of Arch Mortgage Insurance Company?, a leading provider of private mortgage insurance and a wholly-owned subsidiary of Arch Capital Group Ltd.
The U.S. Census Bureau announced today that in 2014, there was no statistically significant change from 2013 in either real median household income or the official poverty rate. At the same time, the percentage of people without health insurance coverage declined. Unless otherwise noted, the following results for the nation were compiled from information collected in the 2015 Current Population Survey Annual Social and Economic Supplement.
With a record 8.2 million acres already consumed by dangerous wildfires and the peak of wildfire season is just beginning, the Property Casualty Insurers Association of America (PCI) is using National Preparedness Month to remind homeowners and renters that it’s time to take a “wildfire preparedness reality check” to ensure you’re physically and financially prepared.
The Insurance Institute for Business & Home Safety (IBHS) joins with the Federal Emergency Management Agency’s (FEMA) Ready Campaign and other organizations around the country to encourage home and business owners to take time during National Preparedness Month to reduce risk and be ready before natural disasters strike. IBHS recommends four simple steps to help get prepared
The Federal Housing Administration's mutual mortgage insurance fund plays a critical role in providing access to credit so that millions of Americans—many of whom are first-time buyers, come from low- and moderate-income backgrounds, or purchase homes in communities of color—can be successful homeowners. The FHA today proposed revised language on the lender certification of loan and borrower eligibility and lender disbarment.<
Palm Harbor Homes Builds First Hurricane-Resistant Modular Houses with IBHS’ FORTIFIED Home™ Building Standards
The Insurance Institute for Business & Home Safety (IBHS) and Palm Harbor Homes announced today Palm Harbor’s manufacturing facility in Plant City, Florida has earned a FORTIFIED Home™ – Hurricane manufacturing plant certification to construct and deliver the first-ever FORTIFIED Home labeled and disaster resistant modular homes in hurricane-prone regions.
With National Preparedness Month set to begin September 1, the Property Casualty Insurers Association of America (PCI) says this is the perfect time to contact your insurance agent or company and make sure you are properly covered for all natural disasters
Rohnert Park Health Center will hold its Grand Opening Celebration and Ribbon Cutting on August 12 , during National Health Center Week. The celebration will be hosted by both the health center and the building owner, Meridian, and will feature keynote speaker Senator Ricardo Lara, the author of SB4, the Health for All Act.
The Property Casualty Insurers Association of America (PCI) today sponsored a policy briefing entitled “Does One Size Fit All? A Policy Discussion on Insurance, Regulation, and the American Economy” on Capitol Hill, where House Financial Services Committee members and industry experts discussed the potential effects of international standard setting on United States’ current state-based regulatory structure.
Private U.S. property/casualty insurers’ net income after taxes grew to $18.2 billion in first-quarter 2015 from $13.9 billion in first-quarter 2014, with insurers’ overall profitability as measured by their rate of return on average policyholders’ surplus growing to 10.8 percent from 8.4 percent, according to ISO, a Verisk Analytics (Nasdaq:VRSK) business, and the Property Casualty Insurers Association of America (PCI)
Two U.S. Representatives from Florida, Patrick E. Murphy and Carlos Curbelo, introduced a bill that would allow states to approve private insurers to compete with the government-dominated flood insurance market. They believe competition will result in better policies and pricing. In addition, they feel innovations involved in that process will ultimately ensure all flood insurance programs are better, including the National Flood Insurance Program
The American Institute of Architect (AIA) has selected Alyssa Tope, Assoc. AIA, and Edward Palka, Assoc. AIA, to receive the 2015 David W. Lakamp a/e ProNet Scholarship. The program, initiated by ProNet, a national association of insurance brokers who are committed to providing liability insurance and loss prevention to architects, is awarded to architecture students who demonstrate a particular interest in the principles of management in architecture practice. Tope and Palka will both receive $5,000 to use towards their tuition
We are now entering the hot summer months where pop-up thunderstorms and lightning are very common, especially in the southeast. However, in many homes and businesses across the country there is a little known risk of fire that can by triggered by lightning strikes.
The Sacramento Promise Zone and Downtown Housing Forum
The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution, approved financing and insurance commitments to support eight private sector-led development projects in Africa, Asia, the Middle East and Latin America.
Friday’s edition of Investor’s Business Daily carried an Op-Ed by RE/MAX CEO Dave Liniger supporting recent government policies that mark a return to more reasonable mortgage standards. Friday’s edition of Investor’s Business Daily carried an Op-Ed by RE/MAX CEO Dave Liniger supporting recent government policies that mark a return to more reasonable mortgage standards.
Disasters of any type can be costly for businesses and even result in permanent closure. To help New Orleans businesses prepare for disasters, free workshops will feature Insurance Institute for Business & Home Safety(IBHS) business continuity expert Gail Moraton.
Ginnie Mae President Ted Tozer, in a keynote address at the U.S. - China Innovative Urbanization and Housing Finance Roundtable in Shanghai, China, stated that “a vibrant and innovative housing finance system is the cornerstone of economic prosperity in the United States. And, it can be in China. This is something our nations share,” said Tozer. Tozer made the remarks to a group of government, academic, and industry leaders at the Shanghai Academy of Social Sciences
As consumers strive to continue making a living in the ever changing economic climate the urge to find ways to cut back and save are imminent. For homeowner’s in particular, the overall cost of the mortgage and property taxes can quickly become a burden. Adding to that burden is the expense of having insurance
Private U.S. property/casualty insurers’ net income after taxes fell to $55.5 billion in 2014 from $63.4 billion in 2013, with insurers’ overall profitability as measured by their rate of return on average policyholders’ surplus dropping to 8.4 percent from 10.2 percent, according to ISO, a Verisk Analytics (Nasdaq:VRSK) business, and the Property Casualty Insurers Association of America (PCI)
The following is a statement by National Association of Realtors® President Chris Polychron in support of the Rural Housing Service and today’s testimony from RHS Administrator Tony Hernandez before the U.S. House Financial Services Subcommittee on Housing and Insurance
With the aftermath of Tropical Storm Ana, and the violent tornadoes that swept through Texas and Oklahoma the Property Casualty Insurers Association of America (PCI) wants to offer insurance recovery information to help in the wake of these storms
Kevin M. McCarty, Florida Insurance Commissioner and past NAIC president, testified before Congress today on behalf of the National Association of Insurance Commissioners (NAIC). The hearing, titled "The State of the Insurance Industry and Insurance Regulation," was held by the U.S. Senate Committee on Banking, Housing, and Urban Affairs. His testimony focused on the need to coordinate insurance policy to protect American policyholders and benefit U.S. markets and companies.
Subcommittee Discusses Impact International Regulatory Standards Could Have on U.S.Insurance Competitiveness
The Financial Services Subcommittee on Housing and Insurance, chaired by Rep. Blaine Luetkemeyer (R-MO), held a hearing on Wednesday to examine the impact international regulatory standards could have on the competitiveness of U.S. insurers.
In an eye-opening episode of HBO’s “Last Week Tonight,” host John Oliver provided an in-depth look at municipal violations (video), and how they could be harming the nation. Often times, when people think of municipal violations they think of traffic infractions and minor crimes; they don’t think their homes are in danger.
Testimony of Treasury Federal Insurance Office Director Michael Mcraith before the Senate Committee on...
The Federal Insurance Office (FIO) publishes an annual report to address the state of the insurance industry and related regulatory or macroeconomic developments. FIO’s 2014 Annual Report included sections describing (1) a financial overview of the U.S. insurance industry, (2) developments and issues with respect to consumer protection and access to insurance, (3) regulatory developments, and (4) international developments
United States Files Lawsuit Alleging that Quicken Loans Improperly Originated and Underwrote Federal Housing...
The United States has filed a complaint in the U.S. District Court for the District of Columbia against Quicken Loans Inc. under the False Claims Act for improperly originating and underwriting mortgages insured by the Federal Housing Administration (FHA), the Justice Department announced today. Quicken is a mortgage lender headquartered in Detroit.