Insurance

A strong showing by the North Carolina bank’s insurance arm helped to overcome lower interest rates and sluggish lending in the second quarter.

As the popularity of health savings accounts grew, the Chicago bank decided it needed a more competitive product that tracks spending and uses artificial intelligence to maximize benefits. The high-tech Lively will help BMO soup up its offering.

A congressional hearing on reforming the National Flood Insurance Program focused on whether mortgage companies need to disclose incremental risks even if a homeowner lives outside a federally designated floodplain.

The White House directive may lead regulators to develop new mortgage underwriting standards, stress-test requirements and flood insurance policy, observers said.

Mortgage lenders have much riding on a yearslong effort to overhaul a program that requires homeowners to hold policies in flood-prone areas. A congressional panel meeting to discuss the issue was once again split between lawmakers from storm-threatened states and those concerned about government costs.

The purchases of Truck Insurance Specialists and Hometown Insurance are expected to help the company expand its dealings in transportation and agriculture.

The Boston company has acquired three insurance agencies since becoming fully stock-owned in October 2020.

USI Insurance Services agreed to buy Northwest Insurance Services in a deal that should close later this quarter.

Better Financial offers customers up to $5,000 per year in accident coverage, prescription drug discounts and medical debt negotiation to certain account holders.

The insurance industry has shied away from crypto, but as the market gets larger opportunity will arise for insurers, says InsuranceQuotes.com's Brian O'Connell.

Continuity and speed are just two benefits of payment automation, says VPay's Elisa Logan.

Financial Institutions in New York has agreed to acquire Landmark Group, which provides services to the construction, manufacturing, real estate and technology sectors.

The company's insurance arm, which recently bought a Texas-based insurance tech firm, is on pace to complete five deals this quarter.

The deal, intended to bolster CUNA Mutual's digital capabilities, is the company's second such move in a month.

The Buffalo, N.Y., bank will pay a $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs.

For decades lawmakers have ignored broad structural flaws in the National Flood Insurance Program, which underpins millions of home mortgages. And the problem is only getting worse.

The Connecticut company will receive $120 million in cash from AssuredPartners for People's United Insurance Agency.

Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.

BNY Mellon has launched a system that automates medical and dental insurance claim payments, attaches benefit explanations and enables virtual card support for medical providers.

The GOP is unlikely to discuss much policy that affects financial services this week during its national convention, though there could be remarks addressing controversial changes to the U.S. Postal Service.