Bermuda:Re+ILS’ Post

Vesttoo recap: Credit fail story that heated up summer for (re)insurers  The story will play out through bankruptcy court filings, but other exposed players and segments will be on watch for ratings agency findings and legal action. http://spr.ly/6042PswhE #reinsurance #insurance

Unlock the power of title insurance! 💪 1. Forgery and Fraud: Protects against forged signatures and fraudulent document executions. 2. Errors in Public Records: Coverage for errors or omissions in public records affecting the property's title. 3. Undisclosed Heirs: Insures against financial loss if heirs emerge after the property is sold. 4. Unknown Liens: Coverage for liens on the property not known at the time of purchase. 5. Defective Deeds: Protection in case of deed problems, such as improper recording or delivery. 6. Invalid Legal Descriptions: Coverage for issues with the legal description of the property. 7. Boundary and Survey Disputes: Protects against disputes over property boundaries or survey issues. 8. Encroachments: Coverage for structures encroaching on neighboring properties. Protect your investment from unforeseen title issues and ensure a worry-free homeownership journey. Know that your property is safeguarded, today and tomorrow. #TitleInsurance #ProtectYourInvestment

08:30 Tuesday 21, 2024 Legal United States FDIC chair Gruenberg says he will step down once successor is announced May 21, 20242:36 AM GMT+2Updated 6 hours ago WASHINGTON, May 20 - U.S. Federal Deposit Insurance Corp Chair Martin Gruenberg said on Monday he planned to step down, finally succumbing to a months-long scandal over sexual harassment and other misconduct at the top bank regulator. Gruenberg, whose five-year term ends in 2028, said he would step down once a successor is confirmed. The White House will soon put forward a nominee to replace him, deputy press secretary Sam Michel said in a statement. The pending departure of Gruenberg, a Democrat and Wall Street critic who had been a senior leader at the FDIC for nearly two decades, comes at a critical time for the agency - just a year after three major banks failed and as many lenders continue to struggle amid elevated Federal Reserve interest rates. The FDIC is also working with other bank regulators on several efforts to tighten regulations, including a contentious plan to boost big bank capital requirements. With Gruenberg staying on until a replacement is announced, Democrats can claim a moral victory while allowing the agency to continue with its regulatory agenda, said Todd Baker, a senior fellow at Columbia University’s law and business schools. "It’s a stalemate and it achieves most of the goals of the administration - that is, to retain control over the FDIC’s agenda," he added. Gruenberg had clung to his job since November when a Wall Street Journal report exposed widespread misconduct at the FDIC, despite outcry from multiple congressional Republicans and some Democrats. The newspaper report was confirmed by a damning external review this month. But on Monday, Democratic Senator Sherrod Brown, who chairs the Senate Banking Committee, said there must be "fundamental changes" at the agency and called for Gruenberg to be replaced, in a key development that piled pressure on the FDIC chair. Analysts said it was unclear how long it could take the White House to get a new nominee through the thinly divided Senate, while Brown's Republican counterpart, Senator Tim Scott, and other Republicans called for Gruenberg to go immediately. "We’re skeptical that Gruenberg will be able to hang on," Ian Katz, managing director of policy research firm Capital Alpha Partners, wrote in a note. "This is like trying to contain a raging fire." Should Gruenberg leave the agency without a confirmed replacement, leadership of the FDIC would fall to Travis Hill, the agency's vice chair and a Republican. The agency would then be deadlocked 2-2. Page 1 continue Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg testifies at a Senate Banking, Housing and Urban Affairs Committee hearing on "Recent Bank Failures and the Federal Regulatory Response" on Capitol Hill in Washington, U.S., March 28, 2023.

Surety Bonds are making the news in a big way! A recent BNN Bloomberg article highlights their importance in the bond market. While former President Donald Trump's appeal may be putting a spotlight on a small slice of the market, we at SuretyBonds.Market can bond your clients with ease. As the premiere surety platform in the industry, we love surety and are here to help. Check us out for all your surety needs! #SuretyBonds #BondMarket #Insurance

Your assets are your legacy 💰⭐️ You’ve worked hard for everything you have and now you want to pass it on to your loved ones. However, even the best estate plan can be subject to risks that can damage your family’s future. Whether it’s the potential for lawsuits or creditors looking to collect on debts, your hard-earned legacy can be threatened. 🍀 Luckily, there are many strategies you can employ to protect your assets from these common threats. Read more -- https://bit.ly/3qxOmCz #commonthreats #estateplanning #creditors #lawsuits #blogoftheday #financialplanning #letstalkestateplanning

Oh my, NYC fake prosecutor's latest attempt to circumvent the law in non-existent alleged fraud (you remember the one with no complainers, no losses, "NYC not so finest" claims of overstatement of asset values "ignoring STATED DISCLAIMERS THAT LENDER SHOULD NOT RELY ON THE VALUES SUMBMITTED BY THE LOAN APPLICANT (and as testified by the loaning organizations that they did not and further would in a heartbeat make new loans to replace the loans they made, which were paid in full..)", eagerness to seize assets before the Court of Appeals shuts down James and Engeron malpractice efforts, etc. These effort to circumvent obvious lawful conduct with false, looney-tune claims of non-existent fraud by "not NYC finest" has resulted in a general pull-back of those who would otherwise conduct business in this geography haunted by personal vendetta, rather than equal justice under the law for resident citizens and businesses in NYC.

Your assets are your legacy 💰⭐️ You’ve worked hard for everything you have and now you want to pass it on to your loved ones. However, even the best estate plan can be subject to risks that can damage your family’s future. Whether it’s the potential for lawsuits or creditors looking to collect on debts, your hard-earned legacy can be threatened. 🍀 Luckily, there are many strategies you can employ to protect your assets from these common threats. Read more -- https://bit.ly/3qxOmCz #commonthreats #estateplanning #creditors #lawsuits #blogoftheday #financialplanning #letstalkestateplanning

This story keeps getting more interesting. In an interim report filed in the United States Bankruptcy Court for the District of Delaware, where Vesttoo filed for Chapter 11 Bankruptcy protection, the insurtech listed the people it held responsible for allegedly creating fake documents and forging identities, including former Vesttoo executives, bank employees and individuals associated with Vesttoo’s largest investor. A string of companies, including Aon PLC and Markel Group Inc., have disclosed exposure to fraudulent letters of credit that were allegedly created to support nontraditional insurance linked-securities transactions arranged through Tel Aviv, Israel-based Vesttoo. How do you get comfortable with the validity of an LOC when there is collusion between third parties involved in the transaction? What are the long term impacts on "collateralized reinsurance" and the reinsurance market more broadly? Only time will tell, but this scandal is sure to have lasting effects on the insurance industry. I have helped a few clients with issues related to the fraud in particular and reinsurance collateral more generally. Please contact me if I can help you with any of your reinsurance accounting and reporting needs, including classification of reinsurers in Schedule F and the related collateral requirements.

🛡️ Unveil the safeguard of Title Insurance in your real estate venture! Acquiring a property comes with the title, yet hidden defects in the title chain, like unsatisfied liens or improper transfers, lurk unseen. 🕵️ 🎯 Title insurance is your fortress against such discrepancies, covering pre-ownership issues missed in title searches. While a lender's policy guards the loan, an owner's policy, though optional, protects your investment. 🏦 💼 Offering a financial shield against fraud, forgery, and undisclosed easements, it's a one-time acquisition securing you and your heirs throughout ownership. 🌐 📞 Ready to fortify your investment? Reach out and let's embark on a secure property journey! 513-505-7462 #JulieStratmanRealtor #TitleInsurance #RealEstateInvestment #SecureYourAsset #PropertyProtection

🏠 Property fraud, also known as real estate fraud or title fraud, occurs when someone illegally uses a property for financial gain. Title insurance is your first line of defense against property fraud. Here’s how it helps: 🔍 Detecting Forged Documents: Our thorough title search may uncover forged documents and fraudulent claims in the chain of title before you close the deal. ⚖️ Legal Defense Coverage: Title insurance covers the legal costs to defend your ownership rights outlined in your policy. Secure your investment and gain peace of mind with title insurance. We’re here to help! #TitleInsurance #TitleInsuranceTips #PropertyFraudPrevention #RealEstate #HomeownerTips