California’s SB 876 will double insurer penalties for claims violations during declared emergencies and require restitution paid directly to policyholders, with phased implementation beginning January 1, 2027
California has enacted a law that doubles the penalties insurers face for breaking claims-handling rules during a declared emergency, and that makes them pay restitution straight to policyholders. Senate Bill 876, called the Disaster Recovery Reform Act, was signed by Gov. Gavin Newsom and announced on September 28 by Insurance Commissioner Ricardo Lara, who sponsored […]
Read MoreCalifornia’s SB 876 will double insurer penalties for claims violations during declared emergencies and require restitution paid directly to policyholders, with phased implementation beginning January 1, 2027
California has enacted a law that doubles the penalties insurers face for breaking claims-handling rules during a declared emergency, and that makes them pay restitution straight to policyholders. Senate Bill 876, called the Disaster Recovery Reform Act, was signed by Gov. Gavin Newsom and announced on September 28 by Insurance Commissioner Ricardo Lara, who sponsored […]
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Insurance & Protection
California’s SB 876 will double insurer penalties for claims violations during declared emergencies and require restitution paid directly to policyholders, with phased implementation beginning January 1, 2027
California has enacted a law that doubles the penalties insurers face for breaking claims-handling rules during a declared emergency, and…
Personal Finance
Insurance & Protection
California’s SB 876 will double insurer penalties for claims violations during declared emergencies and require restitution paid directly to policyholders, with phased implementation beginning January 1, 2027
California has enacted a law that doubles the penalties insurers face for breaking claims-handling rules during a declared emergency, and…
Markets & Investing
Banking & Credit Cards
Fraud & Scams
Bhavesh Kumar Thakkar, 45, was convicted in Austin on two counts related to wire fraud and money laundering in a scheme tied to over $150 million from elderly victims
A federal jury in Austin has convicted Bhavesh Kumar Thakkar, 45, an Indian national living in the United States on a spousal visa, on two...
Fraud & Scams
The SEC alleges Cryptoaiml and TSAI Pro used WhatsApp groups and fake AI trading claims to take at least $15 million from retail investors in complaints filed September 29
Two sets of companies used WhatsApp chat groups and promises of artificial-intelligence trading to take at least $15 million from retail investors, the Securities and...
Loans & Lending
Fannie Mae’s September forecast puts the 30-year mortgage rate at an average 6.8 percent in the last quarter of 2026
Fannie Mae’s Economic and Strategic Research Group, in its housing forecast dated September 11, projects that the 30-year fixed mortgage rate will average 6.8 percent...
Fraud & Scams
The SEC alleges Mississippi medical marijuana company founder Thomas Moore spent about $1.94 million of investors’ $4.94 million on personal expenses including jewelry and travel
The Securities and Exchange Commission says a Mississippi man raised about $4.94 million from roughly 20 investors for a medical marijuana grower and spent about...
Fraud & Scams
Bank of America cites $20.8 billion in FBI-reported 2025 internet crime losses
Bank of America opened a new round of fraud education for small-business owners on October 6, pointing to an FBI figure: $20.8 billion in internet...
Loans & Lending
Mortgage applications fell 6 percent in the week ending September 25 as the average 30-year conforming rate rose to 7.30 percent, the MBA says
Mortgage applications fell 6 percent in the week ending September 25 as the average rate on a 30-year fixed loan with a conforming balance climbed...
Real Estate
Mortgages & Rates
Zillow says a median-income household would need to spend 34.3 percent of its income on a typical mortgage payment
A household earning the median income would need to spend 34.3 percent of that income on the monthly payment for…
Retirement & Taxes
North Carolina’s income tax rate falls from 3.99% to 3.49% for tax year 2027, then to 3.24% in 2030 and 2.99% in 2033, under Senate Bill 257
NKC Health in North Kansas City left the networks of UnitedHealthcare’s Medicare Advantage, AARP/Optum and Dual Complete plans October 1, ahead of the October 15 enrollment period
Social Security’s inspector general questioned $281.2 million in child benefit overpayments on September 30 and estimated $242.6 million was unresolved for 76,904 people selected for tax refund offsets
St. Vincent Health in Leadville, Colorado, will be out of network for Humana Medicare Advantage plans on Jan. 1, 2027, citing coverage denials, delays and reimbursement practices
Social Security improperly paid an estimated 89,000 student beneficiaries about $211 million from 2022 through 2024 and could not support $342 million more, its inspector general says
IRA owners 70 and a half or older can send money straight to charity, and the gift can count toward the year’s required withdrawal
Vanguard taxable target retirement fund investors still await a $146.41 million SEC fair fund, with the plan decision deadline now February 26, 2027
The fourth 2026 estimated tax payment is due January 15, 2027, and the IRS warns underpaying can bring a penalty even for filers due a refund
Most IRA owners 73 and older have until December 31 to take their 2026 required minimum distribution, though a first one can wait until April 1
KFF counts 35 Medicare Advantage plans per beneficiary for 2027, down from 39, and CMS says 88 percent of non-low-income enrollees can get basic Part D for $10.30 or less
Renown Health in Nevada says patients on out-of-network Medicare Advantage plans can schedule appointments there only until December 31
Mass Advantage will close its Worcester Medicare Advantage plan to new and existing members on January 1, 2027, after it did not submit a 2027 bid
Sharp Health Plan ends its individual Medicare Advantage plans in San Diego on December 31, while its employer group retiree plans continue
Memorial Hermann is closing its Medicare Advantage plan on December 31, and members have a special enrollment period through February 28, 2027 to pick new coverage
The IRS extended the livestock replacement period beyond four years for farmers in 49 states forced to sell by drought, in Notice 2026-54
The IRS set October 15 as the last day to file a 2025 return on extension, and its Free File service is still open for those returns