Insurance

Insurance

ABA Endorses Arch Mortgage Insurance PMI Products

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.

Income, Poverty and Health Insurance Coverage in the United States: 2014

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.

PCI Urges Consumers to Take a “Wildfire Reality Check” this September and be Prepared

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.

IBHS Advises Home and Business Owners to Take 4 Steps to Prepare for Disaster...

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

Federal Housing Administration’s Proposal Falls Short, Hits Borrowers Coming and Going

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.

PCI Says Don’t Wait, Communicate; Make Your Emergency Plan Today

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 Celebrates Grand Opening

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.

Industry Experts Assail “One-Size-Fits-All” Insurance Regulation

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.

Property/Casualty Insurers’ Profitability Grows in First-Quarter 2015

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)

Innovative Flood Insurance Program Legislation Introduced In Congress

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

Two recipients selected for the David W. Lakamp a/e ProNet Scholarship

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

Insurance Trade Joins Important Lightning Safety Campaign

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.

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The Sacramento Promise Zone and Downtown Housing Forum

OPIC Board of Directors Approves Financing and Insurance for Eight Development Projects Worldwide

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.

Op-ed: Reasonable Lending Opens Door to Homeownership

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.

New Orleans Disaster Preparedness Workshops Feature IBHS Business Continuity Expert

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 Tozer Underscores Role of Housing in Building Economic Stability

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

Four Ways Consumers Can Save on Homeowner’s Insurance

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

Property/Casualty Insurers Continue Profitability but with Deteriorating Results

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)

Let Rural Housing Service Provide Direct Endorsement Authority to Lenders, Say Realtors

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

Insurance Tips in Aftermath of Mother’s Day Weekend Storms that Swept the Country

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

NAIC TESTIFIES BEFORE CONGRESS

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.

Don’t Let Municipal Violations Bring Down Your House

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.

Safe Building Code Incentive Act will Save Lives and Reduce Costs, says IBHS

The Insurance Institute for Business & Home Safety (IBHS) today announced its support for the Safe Building Code Incentive Act, H.R. 1748, which was introduced this week by U.S. Rep. Mario Diaz-Balart (R-FL) in the U.S. House. This important legislation would provide additional disaster relief assistance to states adopting and enforcing strong building codes

National Low Income Housing Coalition CEO Testifies before the House Subcommittee on Housing and...

National Low Income Housing Coalition (NLIHC) President and CEO Sheila Crowley testified today before the Subcommittee on Housing and Insurance of the House Financial Services Committee at a hearing titled, “The Future of Housing in America: Increasing Private Sector Participation in Affordable Housing.”

ALTA Requests Three Changes to CFPB’s New “Your Home Loan” Consumer Toolkit

The American Land Title Association (ALTA), the national trade association of the land title insurance industry, released the following statement today addressing the Consumer Financial Protection Bureau’s (CFPB) new “Your Home Loan Toolkit.”

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Hanley Investment Group Completes Sale of Shadow-Anchored Walmart Neighborhood Market Shopping...

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm represented the buyer and seller in the sale of an 83,278-square-foot shopping center, shadow-anchored by a Walmart Neighborhood Market in the Denver metro area. More...

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Challenges and Opportunities for Homeownership Take Center State at National Association...

The homeownership rate in America continues to hover around a 50-year low, but experts gathered for an event in the Washington, D.C. offices of the National Association of Realtors® said today that there are real-world opportunities to turn that trend around.