Insurance

Lawmakers authorized a four-month extension less than a day before the program was set to expire.

Lawmakers authorized a four-month extension less than a day before the program was set to expire.

For the millions of consumers who file auto insurance claims every year, many of whom use digital tools such as mobile apps to submit them, the process grinds to a halt when it comes time to receive their payment.

A community bank in Virginia thought the $2.4 million hackers stole from its customers would be fully covered by its insurance policy, but its carrier begged to differ. Their highly technical legal fight is a cautionary tale for all bankers who assume they are sufficiently covered.

With the program set to expire July 31, the House bill will have to be reconciled with Senate legislation that includes a longer extension.

Reps. Ed Royce, R-Calif., and Earl Blumenauer, D-Ore., introduced a bipartisan package of legislation Tuesday to extend the National Flood Insurance Program through Nov. 30.

Once again, congressional inaction on reauthorizing the National Flood Insurance Program is prompting concerns about what a lapse in coverage could mean for loan closings.

Aquesta Financial Holdings expects to record a post-tax gain of $1.7 million from the sale of its insurance business.

The Senate's farm bill would prevent the July 31 lapse of the National Flood Insurance Program, but it still needs to be debated in conference with the House.

Some continue to doubt there will be a premium cut, while others say there's no telling which way Brian Montgomery will go.