Imagine a scenario in which New Jersey residents impacted by last month’s Nor’easter could not rely on flood insurance to help them rebuild their homes and businesses. Unless Congress takes action soon, this nightmare scenario could become a reality. The struggling federal flood insurance system is a man-made disaster more than a decade in the […]
There is yet another significant increase in insurance fraud that is pushing up homeowner premiums in Florida. This op-ed discusses the problem and how it can be fixed. PUBLISHED IN CONTEXT FLORIDA: Alan Daley: The new magnet for insurance scams in Florida When consumers experience water damage unconnected to hurricanes, they usually call a plumber, a […]
Student loans regularly grab headlines, but loans are typically a small part of financing a college education. Personal and family contributions, federal grants and subsidies are actually a bigger part of the total outlay. College students and their families have been borrowing and repaying for almost a lifetime. Today’s hideous $1.2 trillion total of student […]
Illinois’ problems with government pension funds started with negotiated promises for excessive benefits. Some Illinois pensions run at $100,000 or more per year and half of employees retire with benefits before age 60. Those problems were inflamed by the state making smaller contributions than needed to support the benefit payouts. Instances of early retirements and […]
Dear Committee Members and Staff: Thank you for this opportunity to submit comments regarding the Postal Service’s deteriorating service quality and its weakened ability to adequately fulfill its primary responsibilities that are consistent with its original charter. As millions of American consumers across country continue to depend on the US Postal Service’s basic service to […]
This piece, published for the Orlando Sentinel, reviews the recent steps that Florida regulators and policymakers have undertaken to reform insurance regulations that were putting taxpayers and consumers at risk. The piece reviews changes that were made in 2015 and makes policy suggestions for 2016. It is available online at the Orlando Sentinel.
By some accounts, Florida has the highest homeowner’s insurance rates in the country and rates keep rising, despite not having a major hurricane in the last decade. The culprit – a concentration of non-weather related water claims. In many cases, these claims are pushed along by unscrupulous contractors and attorneys. According to Citizens Property Insurance […]
This piece discusses the finance industry’s decision to move to chip and signature credit card verification instead of more secure chip and PIN technology. To read why this decision is bad for consumers, visit the Hill’s Congress Blog.
This time last year, I was warning consumers about the “elephant in the room” during the holiday shopping season. The “elephant” I was referring to was the alarming lack of security whereby consumers had to rely on outdated magnetic stripe and signature credit cards to protect their personal information. Since then, an October 1st deadline […]
The shortfall in retirement funds for American families is about $4 trillion. Much of that gap is attributable to the demise of defined benefit pensions. Some government plans may help ease the shortfall, but they carry dangers of their own. Few employees are active in a defined benefit pension plan, which means that, for a […]