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.
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.
A mild catastrophe year and restrained underwriting expenses allowed Berkshire’s to extend its record of profitable risk absorption.
California’s insurance market is approaching a structural breaking point, with McKinsey warning that wildfire-driven risk has opened a $2 trillion capital gap that will require both financial restructuring and physical risk reduction to solve.
