Independent thinking for complex markets and current events
If you’ve heard the breathless news reports, you know that “Wanted” posters have been going up around New York City identifying various health insurance executives as malefactors who profit off of denying health care to everyday Americans. The signs include the phrase it’s believed alleged UnitedHealthCare CEO assassin Luigi Mangione wrote on the bullets found …
$80k-100k for a vehicle, and some Ins companies won’t insure them + you can’t even park in a garage. A Cybertruck owner who took his truck to Manhattan says several parking garages refused to let him park his vehicle in their facilities. The owner adds that liability insurance providers covering the parking garages are behind …
Imagine how much higher interest expense pushes debt if the Fed can't keep long term interest rates at current yields or lower. pic.twitter.com/sIT53e4n5e — David Sommers (@dgsommersmkts) November 5, 2024 I have seen more than my fair share of financial crises during my time in the U.S. government. I was the assistant secretary of the …
The soaring cost of family health insurance is striking. In 2023, the average annual premium for family coverage hit $23,968, a staggering 467% increase from the 1999 premium of just $4,227. That’s almost a 500% jump in less than 25 years. Year Average Premium ($) Percentage Increase (%) 1999 4,227 – 2000 4,561 7.9 2001 5,269 15.5 2002 6,019 …
Damage from repeated storms and hurricanes has sent the cost of homeowners and flood insurance soaring in Florida. Residents there already pay some of the highest premiums in the country for homeowners insurance. NBC News’ Stephanie Gosk reports.
By the time many homeowners realize they need flood insurance, it’s too late. And for tens of thousands in North Carolina and across the Southeast, it’s too late. Only about 2% of residences in the 100 counties hit hardest by Hurricane Helene-related power outages were protected by flood insurance, according to an NBC News analysis …
by Mike Shedlock Many Florida homeowners are throwing in the towel on coastal living due to multiple hurricanes and insurance costs. It’s a similar setup in California. For Sale Signs Surge The Wall Street Journal reports In a Florida Town Ravaged by Storms, Homeowners All Want to Sell Kellen Driscoll bought his home here in 2019, …
California has enacted a new law mandating insurance companies to cover fertility treatments, including in vitro fertilization (IVF). Signed by Governor Gavin Newsom, this legislation extends coverage to LGBTQ+ families, ensuring equal access to fertility treatments regardless of sexual orientation or gender identity. The move represents a significant step toward inclusivity and reproductive rights for …
https://t.co/x86jmwPvji — Charlie Bilello (@charliebilello) September 12, 2024 Health insurance in the US is a racket, legalized fraud. Look at the United Healthcare chart. $UNH pic.twitter.com/FGTeB4E5jR — Devin Downing (@Devin_Downing) September 12, 2024
Ajit Jain, Warren Buffett’s insurance chief and top executive, sold more than half of his stake in Berkshire Hathaway , a new regulatory filing showed. The 73-year-old vice chairman of insurance operations dumped 200 shares of Berkshire Class A shares on Monday at an average price of $695,418 per share for roughly $139 million. That …
I thought the patient protection and affordable care act was supposed to help….according to this graph it looks like business as usual. Its almost like no matter which side is in control they dont seem to want to help us with these rising costs. h/t IAmNotAnEconomist
Allstate Corp. is set to increase home insurance rates for California customers by an average of 34.1%, marking the biggest jump in premiums for a major insurer in three years as the state faces a deepening property insurance crisis. The rate hike, which will take effect from November, will impact about 350,000 policyholders across California. …
Americans are having a hard time finding the “joy” and “hope” that Democrat elites touted during their August convention, as they struggle to pay their bills while the cost of goods skyrockets. This includes car insurance prices, which, under Vice President Kamala Harris’s watch, rose 54 percent. Data from the Bureau of Labor Statistics show …
Some states are set to see a 50% increase in car insurance rates before the end of the year. And if you are lucky enough to dodge that you’re still probably gonna be looking at a 20 to 30% increase if you don’t live in one of these states. Pretty much no matter where you …
TAMPA, Fla. (WFLA) — Sen. Rick Scott (R-Fla.) introduced a bill Wednesday that would provide homeowners a tax deduction on home insurance premiums. Scott said the Homeowners Premium Tax Reduction Act would provide a tax deduction of up to $10,000 for premiums paid annually for homeowners insurance at a primary residence. In a prepared statement, …
Why is your automobile insurance skyrocketing? https://t.co/MFP3xlRoMA — Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) August 8, 2024
It was already a hectic day when my insurance broker left a frantic voicemail telling me that my homeowner’s insurance had lapsed. I felt nauseous and naked. Suddenly, any leak, fire, or tree branch falling onto the hundred-year-old Hudson Valley house that’s been in my family for nearly 40 years could wipe out my bank …
FL is uniquely expensive to insure bc of hurricanes. Their insurance already costs over 3x the national average Florida homeowners paid an average annual premium of $10,996 in 2023 The national average insurance premium in the same year was $2,377 — Amy Nixon (@texasrunnerDFW) August 7, 2024
Manufacturing and retail jobs can ebb and flow based on demand flows. What about finance and insurance? First time all summer, possibly all year, these industries were called out as sources of layoffs. pic.twitter.com/yadNgeURB3 — Neely (@NeelyTamminga) August 1, 2024
80% of landlords in a recent ResiClub-Groundfloor Housing Investor Survey expressed concern about future increases in home insurance premiums. Among them, 37% are very concerned. These rising premiums are not limited to coastal states; even homeowners in Indiana and Iowa saw their average home insurance rates rise by 12.2% and 13.5%, respectively, in 2023. The surge is attributed to factors like climate risk and housing and construction inflation, which have driven up replacement and …
Gloria Lee was perplexed when the phone calls started coming in from a representative of her Medicare insurer. Could a nurse stop by her Boston home to give her a quick checkup? It was a helpful perk. No cost. In fact, she’d get a $50 gift card. After several such calls in 2022, Lee agreed. …
https://www.youtube.com/watch?v=-4VTF9_Vnm4 The global economy relies heavily on the banking sector, which is currently facing significant challenges. Recent events have sent shockwaves in financial markets and raised doubts about the stability of our banking system. Statements by Treasury Secretary Janet Yellen have sparked much debate and concern, especially regarding the security of bank assets and the …
Florida is facing notable risks in its housing markets. According to a recent report by Parcl Labs, 13 out of the 15 housing markets labeled as “at risk” are located in Florida. Here are some key points: Reasons for Risk: Hurricane Ian: The impact of Hurricane Ian in September 2022 has contributed to additional softening in Southwest Florida. Spiked Home …
A recent report from the Harvard Joint Center for Housing Studies highlights an interesting paradox: while home prices soar and homeowners’ equity increases, many homeowners are still struggling with rising costs. Here are some key points: Equity Growth: The average homeowner’s equity has surged by $28,000 over the past year, reaching an average of about …
According to a 2023 survey by the Insurance Information Institute and Munich Re, 12% of homeowners in the US do not have home insurance, which is an increase from 5% in 2019. Notably, around 50% of those surveyed had annual incomes under $40,000. Many people are foregoing homeowner insurance due to high living costs, rising rates, and inflation. The higher premiums are putting a strain on households already struggling to afford …
by confoundedinterest17 In politics, it is usually discussed whether you are better off today than 4 years ago. Well, not if you are a renter or need to buy a home with mortgage financing. If you are a homeowner, you are better off in terms of home equty. With the Case-Shiller National home price index …
That’s really sad. This person probably would have lost the money with another form of gambling, crypto is just a fast way to do it. h/t NewSchoolBoxer
Twenty-Percent Of All Crashed Cars Are Being Totaled High repair costs, high depreciation, and expensive tech are conspiring to write off cars https://jalopnik.com/out-of-control-repair-bills-means-20-percent-of-all-cra-1851506095 A lot of car crashes are ending with insurance companies calling the car totaled? A lot of car crashes are ending with insurance companies calling the car totaled. High repair costs, high …
Homeownership is becoming an increasingly expensive endeavor in the United States. The average cost of homeowners insurance has soared to $1,915 per year. This figure is based on a 40-year-old homeowner with good credit and $300,000 worth of coverage. However, the cost varies significantly across states. Oklahoma, Texas, and Nebraska top the list of the …
The latest Consumer Price Index summary found that the cost of motor vehicle insurance rose 22.6% over the last year, according to the Bureau of Labor Statistics, while the overall rate of inflation for the last year was 3.4%. Notably, the index for transportation services also rose at an accelerated rate, increasing 11.2% nationwide over …