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☆ Closing Costs for Buying a Home Have Risen Along With Rates
▼ + stars: | 2024-03-15 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

A pricey housing market and higher interest rates have made it harder to afford a house, but related expenses known as closing costs also add to the home-buying challenge. Borrowers typically paid about $6,000 for such costs in 2022, up from about $4,900 in 2021. That was on top of a down payment and other costs. The average monthly payment for a 30-year fixed-rate mortgage rose 46 percent, to $2,045 at the end of 2022 from $1,400 a year earlier, the bureau found. The median price of a single-family home in January was $383,500, up 5 percent from a year earlier, the National Association of Realtors reported.

Organizations: Consumer Financial, National Association of Realtors

☆ Insurance Costs Are Pushing Up Overall Inflation
▼ + stars: | 2024-03-12 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +1 min

It is costing Americans more to protect against disaster, a development that is pushing up official inflation figures. Various kinds of insurance — including car, medical and property protection — are costing more, at least as official inflation figures measure them. “Insurance of various different kinds — housing insurance, but also automobile insurance, and things like that — that’s been a significant source of inflation over the last few years,” Jerome H. Powell, the Federal Reserve chair, said during congressional testimony last week. “And it’s to do with a million different factors.”Vehicle insurance is the one adding notably to overall inflation, said Omair Sharif, founder of the research firm Inflation Insights. Part of the increase in car insurance comes from the fact that parts and replacement vehicles have become a lot more expensive over recent years, and that is slowly feeding through to insurance premiums, he said.

Persons: ” Jerome H, Powell, Omair Sharif Organizations: “ Insurance, Federal Reserve

☆ Premarket: Investors are obsessed with this AI stock you may never have heard of
▼ + stars: | 2024-03-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Nvidia isn’t the only stock capturing the attention of AI enthusiasts these days. Nvidia closed above a $2 trillion market cap on March 1, joining an elite cohort including Apple and Microsoft. Supermicro’s stock gained even more momentum in January, after the company reported second-quarter results that blew past expectations and raised its full-year revenue forecast. Supermicro’s stock was one of the most popular names bought by Charles Schwab clients in February, according to the firm’s latest trading activity index. New York Community Bank gets $1 billion ‘lifeline’Beleaguered regional lender New York Community Bank is receiving a more than $1 billion equity investment, reports my colleague Elisabeth Buchwald.

Persons: Charles Schwab, ChatGPT, “, ”, Supermicro, Wells Fargo, Goldman Sachs, Elisabeth Buchwald, Steven Mnuchin’s, NYCB, ” David Chiaverini, Joseph Otting, Alessandro DiNello, DiNello, Read, Jeremy Hunt, Hanna Ziady, Hunt, ” Hunt, Rishi Sunak’s Organizations: CNN Business, Bell, New York CNN, Nvidia, Apple, Microsoft, Micro, Devices, Federal Reserve, Victoria Bills, Banrion Capital Management, Bank of America, Goldman, New York Community Bank, New, Community Bank, Liberty Strategic Capital, Citadel Global, Street Journal, Wedbush Securities, CNN, Bank of England, International Monetary Fund, Hunt’s Conservative Party, Labour Party Locations: New York, San Jose, United States, Hudson Bay, NYCB

☆ UK Budget: Jeremy Hunt set to cut taxes for workers as election looms
▼ + stars: | 2024-03-06 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

A cut to national insurance — a levy paid by people who work — costing around £10 billion ($12.7 billion) is likely, according to multiple UK media reports. But soaring government debt, crumbling public services and a lackluster economy leave the chancellor with very little room for further substantial giveaways. Christopher Furlong/Getty ImagesOther so-called “unprotected” areas of the national budget, such as social care and the police force, are also at risk. “That seems unlikely when public services are creaking,” they added. OBR chair Richard Hughes said in January that the government had provided no detailed breakdown of departmental spending plans beyond March next year, giving only headline figures.

Persons: Jeremy Hunt, Rishi Sunak’s, Hunt, ”, Laura Kuenssberg, Jeff, Christopher Furlong, “, Richard Hughes, ” Hughes Organizations: London CNN —, Bank of England, Treasury, “ Conservatives, ” Hunt’s Conservative Party, Labour Party, Reuters, Office, National Statistics, Local Government Association, House, National Health Service, Capital Economics, ” Locations: Ukraine, Birmingham, England

☆ Homebuyers are flocking to areas most exposed to extreme weather risk and pushing prices higher, JPMorgan says
▼ + stars: | 2024-02-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

But the firm says rising insurance costs could eventually dampen demand. The researchers then gave each county a composite climate risk score, measured against each area's house price index. AdvertisementA positive relationship also emerged between higher climate risk and population growth, indicating that more people were migrating in than leaving these areas. Others may simply have no intent on selling, and consider themselves too old to experience these rising costs. But changes to property insurance may force prospective buyers to give more attention to climate risks, JPMorgan noted.

Persons: Alexander Wise, Jan Loeys, Risks, Redfin Organizations: JPMorgan, Service, Foundation Locations: Florida

☆ Most people buying homes get screwed into spending thousands on a tedious fee. That may be about to change.
▼ + stars: | 2024-01-18 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

An alternative to title insurance called an attorney-opinion letter might help buyers save money. Title insurance, which is required to close on most properties in the US, can cost hundreds or thousands of dollars. The savings from using attorney-opinion letters could help Americans facing high prices and high borrowing costs better afford homeownership. Some say title insurance is obsolete, since modern technology has improved access to public records essential for confirming a home's title or owner. "It's been clear for years that something is seriously wrong with title insurance," Schwartz wrote in 2022.

Persons: —, Insider's Mattathias Schwartz, Fannie Mae, Schwartz, Homebuyers, Forbes Organizations: Service, Street, Mortgage, Iowa, The New York Times Locations: Philadelphia, Midwest

☆ I'm a millennial who's never having kids. I don't take the decision lightly, but there are too many risks.
▼ + stars: | 2024-01-03 | by ( Jules Rogers | ) www.businessinsider.com time to read: +5 min

That's tough to write, even as a 31-year-old who's never wanted kids, without tacking on a "right now" at the end. I don't take the decision of whether to bring a new life into this world lightly. My partner and I have health insurance through our employers, but we've been between coverage before. Plus, there can be up to a three-month delay for health insurance to kick in when you start a new job. Now factor in prenatal care, postnatal care, diapers, and — even worse, I'm told — formula, as well as day care and education.

Persons: —, who's, I've, wasn't, neurodiversity, I'm, we've, That's Organizations: Service, Business Locations: Oregon, Iceland

☆ Chubb's Ana Robic on 2024: I want to educate customers about the insurance they don't realize they need
▼ + stars: | 2023-12-28 | by ( Josée Rose | ) www.businessinsider.com time to read: +7 min

What was supposed to be a way to get through the summer doing "the lame insurance thing" turned into a career, she said. "People's expectations of this industry are generally quite wrong," Robic told Business Insider. What makes insurance unique, Robic said, is that "the thing you're promising people doesn't change." What's one thing you're excited about for 2024? And it sounds silly, because it's insurance, and I think you're inundated with images on TV as to what insurance is.

Persons: Ana Robic, Chubb, She's, —, Robic, It's, I'm, we've, you've, We're, There's, We've, we're, Ana Robic's Organizations: Service, Chubb, Business Locations: Business, Canada, North America, New Jersey, Dallas

☆ Everybody Knows Flo From Progressive. Who Is Stephanie Courtney?
▼ + stars: | 2023-11-25 | by ( Caity Weaver | ) www.nytimes.com time to read: +2 min

According to Ad Age, in 2022 the Progressive Corporation spent more than $2 billion on advertising in the United States, pouring more money into the effort than McDonald’s, Toyota or Coca-Cola. (The insurance industry’s total annual media-ad spending is estimated to be just shy of $11 billion — more than was spent by all the top beer brands combined.) It is an interminable folk tale about buying insurance, propelled by the charisma, or connoted soothing attentiveness, or gently grating peskiness, or something, of Flo, its central character. Flo debuted in 2008, working the checkout of an eldritch white store uncannily devoid of shadows or edges. (In early ads, the store’s shelves were lined with packages of insurance — cornflakes boxes and tomato cans covered with Progressive branding.)

Persons: Progressive’s, Flo, ”, Harry Harlow’s, ” — Organizations: Progressive Corporation, Toyota Locations: United States

☆ Weight-loss drugs just got cheaper — and better
▼ + stars: | 2023-11-11 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +7 min

Eli Lilly just debuted its powerful new weight-loss drug, Zepbound. Normally, when newer, better drugs are introduced, they match the price of similar drugs already available or come at a premium . Eli Lilly and Novo Nordisk have said that about 50 million people have some level of insurance coverage for weight-loss drugs. But some experts were skeptical, because employers and insurers don't typically pay the list price for drugs. Craig Garthwaite, an economist at Northwestern University, argued competition will drive the net prices of weight-loss drugs lower still.

Persons: Eli Lilly, —, Wegovy, LLY, It's, Mike Mason, coinsurance, Antonio Ciaccia, Crystal, We're, David Risinger, Dave Ricks, David Ricks, Eli Lilly's Mason, Mason, Craig Garthwaite, Garthwaite Organizations: Service, pharma, Nordisk's Wegovy, Ozempic, Deutsche Bank, 46brooklyn Research, Crystal Cox, Novo Nordisk, Zepbound, Wegovy, American Enterprise Institute, Northwestern University Locations: Mounjaro

☆ Compelled to testify against her father and brothers, Ivanka Trump's voice is clear, quiet, and cautious
▼ + stars: | 2023-11-08 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

Ivanka Trump took the stand Wednesday in her father and brothers' civil fraud trial in New York. "Not that I am aware of, no," Ivanka Trump answered quietly, when asked if she had any role in preparing the statements. At another point, Ivanka Trump was asked to identify her father's signature on several documents from 2016, in which he guaranteed the truth of his net-worth statements to Deutsche Bank. Ivanka Trump at her father and brothers' civil fraud trial. AdvertisementAdvertisementShe testified in a clear, calm, quiet voice – so quiet that the judge early on asked her to move her microphone closer.

Persons: Ivanka Trump, —, Letitia James, Donald Trump's, James, Louis Solomon, Trump, Solomon, Michael M, Santiago, Arthur Engoron Organizations: Deutsche Bank, Service, New York, Trump Organization, Trump, Washington , D.C Locations: New York, Miami, Washington ,

SAN FRANCISCO (AP) — Heidi Lange was among the first to rebuild after the deadliest wildfire in California history destroyed her home in 2018 along with much of the town of Paradise. Residents have received annual premiums that near or exceed $10,000 — leaving many to wonder how they're supposed to rebuild their hard-hit community when insurance is so shockingly high for houses in an area that is supposed to be among the most affordable in California. Seven of the 12 top home-insurers in California — including Farmers Insurance, State Farm, Allstate — have paused or restricted new business in California, saying they can’t afford to take on new clients. Carl Johnsen, a retired drywall contractor, has lived in the same house since 1979, when he moved to Paradise. The Robinsons are paying $4,500 through the California Fair Access to Insurance Requirements Plan, and $750 with another insurer for supplemental liability coverage.

Persons: — Heidi Lange, “, ”, Ricardo Lara, Michael Soller, Rex Frazier, Carl Johnsen, Johnsen doesn’t, Gene Robinson, Robinson, Lara, Soller, Kathy Ehrhart, ” Lange Organizations: FRANCISCO, Fire, Farmers Insurance, State Farm, Allstate, California’s, Insurance Department, Paradise . Farmers Insurance, Farmers, “, Personal Insurance Federation of, Robinsons, FAIR Locations: California, Paradise, Personal Insurance Federation of California, Louisiana , Texas, Florida, Chicago

The state hasn't wavered as a conservative stronghold in the modern era, and its last Democratic governor was denied a second term 20 years ago. A former mayor of tiny Nettleton, Presley is wrapping up his fourth term as a state utility regulator for northern Mississippi. One of the most famous Black Mississippi residents, Oscar-winning actor Morgan Freeman, recently joined him at a campaign event. Presley has raised more campaign cash than Reeves this year, and he's attracting larger and more diverse crowds than any Democrat running for Mississippi governor in a generation. Presley says the new method of electing a governor gives him a better chance than the old one.

Persons: Brandon Presley, Tate Reeves, “ They’re, ” Presley, murmurs, “, Elvis Presley, Reeves, Presley, Bennie Thompson, Morgan Freeman, Theresa Hall, ”, we’ll, ” Reeves, Sen, Chuck Younger, “ It’s, ” Younger, it’d, Bruce Springsteen, don’t, William Barber, Barber, —, Nick Bain, Medgar Evers, Vernon Dahmer, Fannie Lou Hamer, it's, Democrat Jim Hood, Joe Biden, Mike, Republican Sen, Cindy Hyde, Smith, Thad Cochran, Jim Crow, Eric Holder, Gwendolyn Gray Organizations: Democratic, Republican, U.S . Rep, Mississippi, Tate, Liberal, Black, Democratic Party, Poor, Waffle, Trump, Mississippi Freedom Democratic Party, Democratic National Convention, Democrats, Democrat, U.S . Senate, Mississippi voters, U.S, “, Tougaloo College Locations: NATCHEZ, Miss, Mississippi, Natchez, Jackson, Issaquena County, Los Angeles, Columbus, Alabama, U.S, Gulfport, Biloxi, “, Black, Atlantic City

☆ The race to create the 'Amazon of real estate' could change home buying forever
▼ + stars: | 2023-10-25 | by ( James Rodriguez | ) www.businessinsider.com time to read: +14 min

But after years of trying, the basic structure of buying and selling a home remains pretty much the same. Even if you accept a bit of intricacy, real estate remains a stodgy industry — and regulation is at the core of that resistance to change. Despite the best efforts of would-be disruptors to cut out this middleman, 88% of buyers this year enlisted a real-estate agent, a Zillow survey found. Short of a tech-enabled homebuying nirvana, there are some other changes that could make the process easier for consumers. Saul Klein, an early internet evangelist in the real-estate industry, told me he sees an approaching "paradigm shift."

Persons: that's, you'll, they're, it's, Mike DelPrete, Rob Hahn, DelPrete, aren't, they'd, pocketing, —, ClosingCorp, we're, John Berkowitz, hasn't, Berkowitz, They're, Bobby Bryant, Bryant, Rich Barton, Wendy Gilch, Gilch, Saul Klein, Klein, James Rodriguez Organizations: Companies, University of Colorado Boulder, National Association of Realtors, Ojo, Group Inc, Universal Locations: Washington, California, Georgia

☆ Insurance companies have discovered devious new ways to rip you off
▼ + stars: | 2023-10-23 | by ( Jathan Sadowski | ) www.businessinsider.com time to read: +16 min

Unfortunately, as premiums for everything from home insurance to car insurance skyrocket, more of us are being forced to dwell on the opaque and convoluted insurance industry. AdvertisementAdvertisementTo determine that magic price tag, insurance companies drill down into the nitty-gritty details of your life. I'll go even further: To boost their own profits, insurance companies are becoming increasingly antisocial and antagonistic. To boost their own profits, insurance companies are becoming increasingly anti-social and antagonistic. The stuff of insurance is far too important to be left to the insurance industry.

Persons: Søren Holm, Duncan Minty, Kengo Sakurada, you've, Colm Holmes, —, Holmes, Inga Beale, Beale, ProPublica, Cigna Organizations: Consumers, Caliber, Insurance, Sompo Holdings, Aviva, Allianz Holdings —, of Actuaries, State Farm, Farm, New York Times, of Information Technology, Monash University Locations: London, State

☆ 5 successful real-estate investors who started with as little as $5,000 in savings explain how they leveraged FHA loans to buy their first properties
▼ + stars: | 2023-10-21 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Before writing off real estate as too expensive to invest in, you'll want to consider all of your options. Here's how it works and how you can use one to buy real estate and start building long-term wealth. How everyday people have leveraged FHA loans to buy property and build wealthBoston-based investor Karina Mejia used an FHA loan to buy her first property at age 22 . It's a joke but it is solid advice: Before you actually get married, you should each use your own FHA loan." You can get your foot in the door without too much upfront cash by using an FHA loan."

Persons: Ludomir Wanot, witxh, Wanot, Karina Mejia, Sasha, It's, Mejia, Avery Heilbron, Heilbron, Jervais, Jim Resonable, That's Organizations: Federal Housing Association, Evergreen Housing, Ludomir, Seattle, Department of Veterans Affairs Locations: Seattle, Boston, Georgia, North Carolina, North Carolina , California

☆ I was drowning in student-loan debt as a single mother. But this year, I turned 53 and my $200,000 loans were forgiven.
▼ + stars: | 2023-10-14 | by ( Kristina Puga | ) www.businessinsider.com time to read: +4 min

It was 1987 when I started my college journey at Adams State College — now Adams State University — in Alamosa, Colorado. I graduated in May 1995 with my bachelor's in psychology and started graduate work in counseling. What I borrowed between my undergraduate and graduate work was about $60,000, and it ballooned to more than $200,000 because of the compound interest. I wanted to pay my student loans, but it was more important to provide for my family. My student loans were finally forgiven under the Biden administrationIn July, I received an email from the Education Department saying I was eligible to have my loans forgiven.

Persons: I'm, Linda Whitman, Adams State College —, Washington —, Biden, I'd Organizations: Adams State College, Adams State University —, Education Department, Facebook Locations: Alamosa , Colorado, Washington

☆ Businessman Indicted With Menendez Is Arrested at Kennedy Airport
▼ + stars: | 2023-09-26 | by ( Benjamin Weiser | More About Benjamin Weiser | ) www.nytimes.com time to read: +1 min

The senator, Ms. Menendez, Mr. Hana and two other businessmen were each charged with conspiracy to commit bribery and conspiracy to commit honest services wire fraud. Mr. Menendez and his wife were also charged with conspiracy to commit extortion under the color of official right, meaning that they used the senator’s official position to force someone to give them something of value. Mr. Menendez has maintained his innocence, saying Friday that prosecutors “wrote these charges as they wanted; the facts are not as presented.” At a news conference on Monday, he said he had no intention of bowing to calls for his resignation. Mr. Menendez, his wife and the two other businessmen — Fred Daibes, a New Jersey real estate developer and fund-raiser for Mr. Menendez; and Jose Uribe, who works in trucking and insurance — are expected to be arraigned in Federal District Court on Wednesday morning. Mr. Hana was led into the courtroom wearing a light blue button-down shirt, navy blue slacks and black slip-on shoes with a design on top.

Persons: Menendez, “, Mr, — Fred Daibes, Jose Uribe, Ms, Hana, Lawrence J, Lustberg Organizations: Court, EG Locations: New Jersey, Egypt

☆ Medicare's drug-price negotiations will save the government billions in healthcare spending — but patients may not feel the benefits
▼ + stars: | 2023-09-25 | by ( Natalie Rahhal | ) www.businessinsider.com time to read: +6 min

Patients with private health insurance aren't likely to see a drop in costs from the negotiations. Longo said the price-setting provisions will drive research and investment away from treatment options for Medicare patients. If drug companies won't come to the negotiating table to lower drug prices paid by private insurers, those insurers could take the companies' drugs off their lists of covered medications. Or, if private insurance companies don't negotiate drug prices down for their patients, patients in some cases could seek out different insurance. "These are not full solutions, but they are the beginning of cracks in the facade" of drug companies' constant price hikes, Feldman said.

Persons: Biden, Juliette Cubanski, Jeffrey Davis, Davis, Richard Frank, —, Nicole Longo, Longo, it's, — aren't, Robin Feldman, Feldman, Cuban's Organizations: Medicare, Healthcare, Morning, Centers, Services, Congressional, McDermott, Consulting, Brookings Schaeffer Initiative, Health, Pharmaceutical Research, Manufacturers of America, PhRMA, University of California Law School, Costco, Pharmaceutical Locations: Lower

☆ Delta's emergency savings initiative offers workers up to $1,000 each. Here's how it works
▼ + stars: | 2023-09-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

The airline will then match up to $250 of an employee's contributions made with payroll deductions to that account for a total of $1,000. When the economy stalled, Delta workers tapped roughly $1 billion in hardship withdrawals from their retirement accounts, Bryant said. "I didn't have a strategy in place on how to save money," said Loretta Day, a Delta flight attendant based in Atlanta. But it didn't take long for Day, 51, to practice better money habits once she completed a financial education class, she said. With the additional support, workers "are going to come in earlier, stay longer and go the extra mile," Bryant added.

Persons: Jeff Greenberg, John Hope Bryant, Bryant, Loretta Day, Kelley Elliott, Fidelity's Taylor, Douglas Boneparth Organizations: Delta Air Lines, Hartsfield, Jackson Atlanta International Airport, Universal, Getty, Delta, Fidelity Investments, Employees Locations: Delta, Atlanta

CNN —Millions of American homeowners could see insurance rates surge in the coming years in part due to worsening climate disasters, new data shows. It’s another alarming sign for the future of America’s homeowners’ insurance market. “We’re still kind of at the forefront of the insurance industry pricing in climate risk into the real estate market,” Porter told CNN. Premiums are at risk of surging to a lesser extent in cities across the country, First Street data shows. “I know where the places are where people are dropping their insurance — it’s Florida, Louisiana, California and Colorado,” Bach told CNN.

Persons: ”, David Jones, Jeremy Porter, “, ” Porter, Hurricane Ian, Matias J, Jones, ” Jones, Amy Bach, Bach, ” Bach, Kyle Grillot, Reuters Jones, Porter, ‘ I’m, it’s Organizations: CNN, Foundation, UC Berkeley’s Center for Law, Energy, Hurricane, Miami Herald, Tribune, Service, Los, National Flood Insurance, FEMA, United, Residents, Reuters Locations: California , Florida, Louisiana, California, Matlacha , Florida, Florida, Texas, Vermont, Montpelier . Kentucky, West Virginia, Miami, Jacksonville, New Orleans, East Coast, Atlantic City , New Jersey, Virginia Beach, Norfolk , Virginia, Wilmington , North Carolina, Charleston , South Carolina, Savannah , Georgia, New York City, Phoenix, Chicago , Pittsburgh, Louisville, Cincinnati, West Coast, Riverside , California, Los Angeles, Gulf Coast, Plaquemines Parish , Louisiana, Collier County , Florida, Colorado, Wrightwood , California

NEW YORK (AP) — When the unexpected happens — whether fire, hail, or human error — renters insurance can provide much-needed stability. The average cost of a renters insurance policy in 2023 was $148 per year, or about $12 per month, according to the most recent analysis by NerdWallet. Here's what to keep in mind:WHAT SHOULD I KNOW ABOUT ACQUIRING RENTERS INSURANCE? WHAT’S COVERED BY RENTERS INSURANCE? Most renters insurance policies include:— Personal property protection.

Persons: Linda Klamm, “, Klamm, ” Klamm, you’re, policyholders, ”, Charles Schwab Organizations: Joint Center for Housing Studies, Harvard University, Insurance, Institute, Financial Health Network, Financial Health, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Oakland , California, California, Florida , Louisiana , Texas, Washington

The wages in Bali, which has a population of more than four million people, can be higher than in other parts of Indonesia. Others, like four of the five young housekeepers who died in the elevator accident last week, are day laborers or contractors who work without a social safety net, sometimes for years. In the Ayuterra Resort case, the government insurance agency decided to give all five workers insurance payouts of over $10,000. Representatives for Ayuterra Resort, in the Ubud area of Bali, did not immediately respond to requests for comment. On Thursday, the online rate for a two-bedroom Ayuterra penthouse villa with a private pool in October was nearly $700.

Persons: housekeepers, Niluh Djelantik, ” Organizations: Ayuterra Locations: Bali, Indonesia, Mount, Ubud

CEDAR KEY, Fla. — As cleanup begins in the aftermath of Hurricane Idalia, the storm has served as a stark reminder that Florida's insurance industry remains in flux. But many of those homeowners face uncertainty amid the upheaval that has emerged in Florida's insurance industry in recent years. A thinning insurance market that is beset by more regular hurricanes has caused insurance policy costs to skyrocket. The state's insurance industry is preparing to lose four insurers since last year — Farmers Insurance, Bankers Insurance, Centauri Insurance and Lexington Insurance. Aggravating the problem, 82% of Floridians do not have flood insurance, which is typically operated by the National Flood Insurance Program, a federal program run by the Federal Emergency Management Agency.

Persons: Idalia, Chris Draghi, That's, Gregory Buck, Buck, Aimee Firestine, Firestine, Amy Bach, United, Bach, Mark Friedlander, Friedlander, Gabe Gutierrez, Phil McCausland, Melissa Chan Organizations: Insurance Information Institute, U.S, — Farmers Insurance, Bankers Insurance, Centauri Insurance, Lexington Insurance . Farmers Insurance, National, Experts Insurance, Homeowners, Insurance, Property Insurance Corp, National Flood Insurance, Federal Emergency Management Agency, Congress, First Street Foundation, FEMA, Cedar Key Locations: Fla, Florida's Big Bend, Florida, Georgia, Florida , Georgia, South Carolina, Cedar, America, Taylor County, Bend, New York City

☆ An Arizona man planned to build his retirement home on a plot of land he bought 20 years ago. The problem: It was sold for $200,000 without him knowing.
▼ + stars: | 2023-08-24 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +9 min

"I noticed the last four digits of the social security number were not mine and the address was wrong — the mail shouldn't have even gotten to me," Gordon told Insider. Gordon, 65, bought the undeveloped, 3 1/3-acre property in 1999 for $76,500, Pima County property records show. AdvertisementAdvertisementGordon spoke with Title Security Agency, the Arizona company that handled Gordon's title work when he purchased the property in 1999. He told Insider that in this instance, the seller was found out to be fraudulent soon after the deal closed. He told Insider he spoke with a broker that had four fraudulent incidents in one day.

Persons: William Gordon, Gordon, He's, —, Penny Davis, Gabriella Cázares, Kelly, it's, we've, Eric Gibbs, I'm, Gibbs, Jeff Murtaugh, he's, who's, Murtaugh, ORNTIC Organizations: Service, Security Agency, First American, Pima Recorder's, Title Security Agency, Realty ONE, Realty Executives, Old, Title Insurance, Insurance, News Locations: Tucson, Wall, Silicon, Tucson , Arizona, Pima County, Phoenix, Arizona, Pima, Texas, Bexar, —, Real, Realty Executives Arizona, Old Republic

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