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Banks Price In Risk Following FEMA Flood Map Changes
A new study shows that when FEMA’s 2016 flood map revisions removed thousands of New Orleans homes from high-risk zones, banks quickly raised mortgage rates and down-payment requirements to compensate for the sudden loss of mandatory flood insurance.
Insurers, Hedge Funds and Utilities Maneuver To Shape California’s Wildfire Liability Future
As California weighs sweeping reforms to its wildfire liability system, multiple industries are maneuvering to shape and profit from the state’s next catastrophe backstop.
Markets
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Fed Flags Life Insurers’ Leverage as Firms Deepen Private-Credit Exposure, but Insurers Say Risks Are Managed
The Federal Reserve warns life insurers’ leverage is at historically high levels, but executives say their balance sheets and private-credit exposures remain disciplined and capital-efficient.
