Insurance spending will double in the next decade, says Lloyd’s of London

March 28, 2023March 27, 2023 H. Cutner

Insurance Spending - Lloyd's of London Building

Chief exec John Neal has predicted that a greater risk perception like bank failures will drive the trend. Global insurance spending will probably reach the point that it has doubled in the coming decade, mainly driven by an increased risk perception, said Lloyd’s of London CEO John Neal. Climate change and bank failures have reminded the world of the size of potential risks. “Financial risk,” on the heels of bank failures in Europe and the United States, in addition to systemic risks, such as climate change and pandemics, are expected…

Federal regulators close banks in Florida, Georgia and Pennsylvania, each putting a dent in the nation’s insurance fund

January 23, 2012January 23, 2012 Nordstrom

Federal regulators from the Federal Deposit Insurance Corporation (FDIC) seized banks in Florida, Georgia and Pennsylvania late last week. The seizures mark the first bank failures of 2012, continuing an unfortunate trend that began with the economic recession of 2008. Hundreds of banks have fallen prey to closures during the economic crisis. Last year, 92 banks were shut down by the FDIC, markedly lower than the 157 closures seen in 2010. Regulators expect that the number of closures will be lower this year than it had been in previous years.…