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The Latest Breaking News from Insurance

New obesity drug would cost Medicare $27 billion, even with limited uptake

Covering Novo Nordisk A/S’s new obesity drug Wegovy could strain the budget of US government insurance program Medicare, according to a new analysis in the New England Journal of Medicine.

Tribune News Service

The White House is avoiding one word when it comes to Silicon Valley Bank: bailout

The Biden administration has taken pains to avoid the word "bailout" in describing the effort to rescue Silicon Valley Bank depositors. Yet banking experts say it sure does look like a bailout.

WEKU

Biden's test: Can he show competence to avert banking chaos

President Joe Biden is confronting a significant challenge as his administration grapples with the fallout from the second- and third-largest bank failures in history

The Independent UK

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The FDIC was created exactly for this kind of crisis. Here's the history

When it was established in 1933, some 4,000 banks had closed in the first few months alone. The FDIC is relying on one of its main tools — deposit insurance — to prevent more banks from failing.

WEKU

U.S. to extend humanitarian stay for Ukrainians who entered via Mexico border

The Biden administration will allow Ukrainians who entered the United States last year at the Mexico border to renew their humanitarian status, giving them continued access to government benefits like health insurance and food stamps.

Reuters

The SVB implosion shows why FDIC insurance is so important

For those with plenty of liquid assets, knowing how FDIC insurance works can save potential headaches down the line.

Fortune

Avoiding the ‘B-word’: is the US response to SVB’s collapse a bailout?

Given the antipathy towards Wall Street bailouts in the 2008 crisis, Biden is at pains to stress that ‘no losses’ will be borne by taxpayers

The Guardian - US

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People urged to check State Pension forecast to find out how much money they are due each week

A deadline has been extended allowing people more time to boost their retirement pot.

Daily Record

Major letting agreed at former Zurich Insurance HQ in Gloucestershire

Polo Works, a commercial insurance service provider, will move 300 of its staff into the Grange business park this summer

Birmingham Post

Let the bailout debate begin

If a bailout doesn't cost anything, is it really a bailout?

Axios

US regulators step in to shore up banking sector in wake of SVB's collapse

The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation have unveiled a plan meant to stem any contagion from Silicon Valley Bank's (SVB) failure on Friday. The Federal Reserve will provide an emergency lending facility that will ensure all of the bank's depositors are repaid in full. Elsewhere, the…

France 24

Regulators to protect SVB, Signature depositors, but no bailout - Roll Call

Federal regulators said Sunday they would protect all Silicon Valley Bank depositors, including those above the deposit insurance limit.

Roll Call

Backstopping SVB's fallout is the first unintended consequence of Fed's zero interest rate experiment

SVB's collapse has triggered a historic reframing of depression-era deposit insurance.

Fortune

FDIC working on finding buyer for Silicon Valley Bank, California Rep. Khanna says

WASHINGTON — Rep. Ro Khanna, D-Calif., said the Federal Deposit Insurance Corp. is working to find a buyer for Silicon Valley Bank and urged the U.S. government to step in and guarantee all of the bank’s deposits.

Tribune News Service

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The Independent UK

Can the chaos from Silicon Valley Bank's fall be contained?

Can Washington come to the rescue of Silicon Valley Bank's depositors

Tribune News Service

Reentry programs to help former prisoners obtain health care are often underused

When Matthew Boyd was released from a Georgia state prison in December 2020, officials sent him home without medicines he uses to manage chronic heart and lung conditions and high blood pressure, he said.

Chronicle Live

10 money-saving tricks that could cut hundreds off your household bills

From energy and council tax to internet and mobile - there's savings to be made on your bills

Axios

How Silicon Valley Bank could precipitate a banking crisis

Corporate America just got a stark reminder that none of their deposits are insured above $250,000 by the Federal Deposit Insurance Corporation (FDIC).

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Inverse

This Essential Medical Treatment Could Finally Become Affordable For Everyone

Pharmaceutical giant Eli Lilly is slashing the list prices for some of its most popular insulin products by 70 percent.

Wales Online

Couple say Morrisons van caused £25,000 damage and they've been offered £746

They claim the damage will cost £25,000 to put right - more than 30 times the amount the supermarket has apparently offered in compensation

Daily Mirror

6 pension changes you need to know about - including when retirement age will rise

From another expected rise in the state pension age, to a crucial deadline that could boost your income in later life, we explain everything you need to know about all the retirement changes in the pipeline

Tribune News Service

As banks topple, regulators face reckoning on week of mayhem

On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the U.S. financial system.

Fortune

Collateral damage from Silicon Valley Bank's explosion

The tech ecosystem has been tossed into turmoil as , one of the nation’s largest banks for startups, collapsed Friday following a run on deposits. Now, with the bank’s assets frozen and under the control of the Federal Deposit Insurance Corporation, SVB’s customers, employees, and investors are grappling with a…

Nottingham Post

Martin Lewis advice helped man boost state pension by £28,000

The man is very thankful for the financial guru's advice

Chicago Sun-Times

Illinois lifeline program for suicidal kids struggles amid a youth mental health crisis, staffing shortages

Despite quick assessments, the state is failing to ensure that thousands of children get any follow-up help, let alone the type of intensive behavioral health support many need.

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