As yet another insurance company is pulling back from issuing policies in Florida following a string of natural disasters, the state’s chief financial officer has accused the industry of pulling out not because of losses, but due to wokeness. Jimmy Patronis, CFO of the state, lit into Farmers Insurance for its plans to leave the state on CNBC recently, saying “if they would just leave ESG [environmental, social, and corporate governance ] and put it away, and focus on the bottom line, they...

Warren Buffett has now given away over $50 billion to charities since 2006. That’s more than his net worth when he first started to give away his fortune. The latest gifts were split among five charities, as Buffett converted a little more than 9,000 of his Class A shares in Berkshire Hathaway to 13.7 million Class B shares. Recipients included the Bill & Melinda Gates Foundation Trust, the Susan Thompson Buffett Foundation, and three organizations run by his children. After these most recent...

A small insurance company has collapsed due to overwhelming claims tied to the devastating Camp Fire in Northern California. The state of California will take over the policies of Merced Property & Casualty Co., which was unable to pay the claims in the destroyed city of Paradise and other affected areas. The 112-year old company told a Merced County judge it had $23 million in assets but was facing $64 million in claims, mostly in Paradise. On Monday, the judge gave state insurance...