California wildfires ignite an insurance crisis

In summary

California’s never-ending wildfires have ignited an insurance crisis that demands bold new thinking.

As if California needed another crisis, the state’s seemingly perpetual wildfires are forcing millions of homeowners in fire-prone areas to pay skyrocketing premiums for insurance coverage — if, indeed, they can buy it at all.

As the number and severity of wildfires increase, insurers are increasingly reluctant to renew policies and even if they do, premiums often double or triple.

Insurance is required for most homeowners since their mortgage lenders demand it. And if they cannot obtain regular coverage, they are forced into the insurer

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Former Fed official warns of ‘urgent’ threat of another financial crisis

Investors cheered Federal Reserve Chairman Jerome Powell’s Jackson Hole speech on Friday, with markets interpreting it to mean that the central bank would not too quickly wind down its support of the economy. But not every speaker at the annual gathering gave cause for optimism.

Don Kohn, the Fed’s former vice chair for financial supervision, used the opportunity instead to warn of imminent risks to the stability of the global financial system, and called on regulators and lawmakers to take swift action to address those concerns.

“Dealing with risks to the financial stability is urgent,” he said during a speech

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Cuomo’s Resignation Provides 7 Crisis Management Lessons For Business Leaders

New York Gov. Andrew Cuomo’s surprise announcement today that he will resign from the office he has held for the past 10 years provides business leaders with several

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