April 19, 2021

Market

Legislature’s fixes are needed to save insurance market

Guy C. Fraker

Last fall, I was commissioned to complete a consumer- focused analysis of Florida’s property insurance market. What I discovered is best described referring to an iconic film trilogy. Florida’s dwelling insurance market should be called The Matrix. In the films, people exist in comas, their stasis used as batteries to power parasitic robotics. All the while, they are embedded with an illusion of reality. Seven million Floridians are being used to power parasitic entities while being asked to accept a deplorably false narrative about insurance companies.

Field property specialist Sam Ellenburg, left, and property large loss claims manager Vicky Walters of Grange/Integrity Insurance talk while a drone flies what they refer to as a lawnmower grid Aug. 19 taking damage photos for an insurance claim in Cedar Rapids, Iowa.

The resulting impacts include citizens paying a hidden tax that grows

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Gulfport’s Tuesday market helps put vendors back in business

Gulfport’s Tuesday markets have always been busy.

“So, it’s just sort of become the heart of Gulfport, you know, one of our big our weekly events that we have, and it just kind of the heartbeat of our town,” explains Victoria Ann Wenners, cook chef at the Gulfperk Coffee Shop.

But, in March of 2020 they abruptly stopped, like much of everything else.

“I was a self employed vendor who did shows like this. I did Renaissance fairs and large music festivals and whatnot. So my industry went completely dark. And I lost my my business of 20 years, to

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Insurance Agents on the Front Line of Florida’s Mounting Property Market Problems

While carriers face growing financial losses in Florida’s distressed property insurance market, insurance agents are on the front lines trying to help their clients who are being hit with double-digit rate increases, non-renewals, coverage restrictions or refusals from the admitted market.

The situation has become untenable, Florida agents say, and they hope the state’s legislature will take action in the current legislative session so Florida policyholders can access the insurance they need.

“We are taking sides for Floridians. I want a healthy stable insurance market because a stable insurance market is critical for a healthy economy,” said Mary Katharine Lawler,

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Trading tax hike won’t harm Hong Kong’s stock market: Financial secretary

Hong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.

Chan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%. The announcement sparked a sell-off in shares of the operator of the city’s stock exchange, and the broader Hong Kong market.   

“The Hong Kong market has been doing very well, very active, the volume has gone up quite a bit,” Chan told CNBC’s Emily Tan.

“So,

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Turns out Texans don’t save money under our deregulated electricity market

Our deregulated electricity market promised reliability and lower electricity prices than our neighbors. Turns out, it provided neither.

HARD CHOICES: Use vacation time or go without pay? Some Texans forced to choose after winter storm

Overall, the deregulated market has cost Texans $28 billion more than traditional utilities since 2004, McGinty and Patterson report.

When Texas moved from full-service regulated utilities nearly 20 years ago, proponents of deregulation said that competition between retail energy providers would drive monthly rates down because residents could shop around for the best deals. Instead, Texans ended up paying a lot more.

Texas’ deregulated electricity

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GameStop? Reddit? Explaining what’s happening in the stock market

Suddenly, Wall Street can’t stop talking about GameStop, a video game retailer whose stock price is popping far beyond what most people think it’s worth.

Here’s a guide to understanding why and what the frenzy means for the stock market.

Why is everyone talking about GameStop?

The simplest answer is that its stock price has skyrocketed — by somewhere around 8,000 percent over six months. The more complex answer is that its stock has become the central game piece in a financial power struggle between a major hedge fund, Melvin Capital, and a group of amateur stock traders who

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