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Market and Wildfire News Update January 18 2025

 

Fire Insurance   A must in today's world

Market news also included in today's musing

 

The 2024 December jobs report came out last Friday and it showed an increase of 256,000 jobs following a 212,000 gain in November. Analysts expected 165,000 created jobs for December so saints be praised, the country seems robust!

Not so fast said Wall Street and the Dow subsequently shed  a whopping 696 points on the day sending traders into the local bars at closing to gulp down a couple of double martinis to ease the pain of it all. So good economic news causes the market to crater?

How can that be you say?

Let me explain.

I miss the olden days. Back when sanity ruled Mr. Market, good economic news meant positive market movement. That was before the governmental money guys tried to harness the winds of supply and demand that drove the market in the direction it wanted to go.

Which is to say let it freely meander to and fro in response to a healthy and vibrant U.S. economy that was the envy of markets everywhere.

So the question becomes what happened since then where now good news on the economy causes the stock market to bleed red and bad news might cause a market rally?

What happened was the repeated interventions by the Federal Reserve (the FED) nearly every time the markets got a cold. So many times has the FED intervened, messed with, manipulated and basically tried to steer the market with monetary (money) injections, the knee jerk reaction by investors has now become what will the FED do in response to any economic news that comes out.

Bad news might cause the FED to juice the market by lowering interest rates, making credit easier, and bailing out a bank or two. Good economic news might cause the FED to do the opposite and tighten up on the money spigots causing markets to pull back.

Investors now seem more concerned with FED response to a positive or negative economic statistic than the actual health of the economy itself. What an odd investing world we now live in.

In other news, the Los Angeles fires no doubt will mean higher insurance rates for us homeowners.

Just last month, I penned an article discussing the solvency of the California Fair Plan insurance entity and how they might be, self-admittedly, one large fire away from insolvency. Well, the news is out the latest fires in Southern California might be the costliest insurance event in their history. I have seen social media chat suggesting Cal Fair is in shambles. I can say as a Cal Fair agent, they are still up and running and, at least now, seem no worse for wear. I have no way of knowing their current financial picture, but they continue to communicate and operations continue, at least from an agent’s point of view.  In the article, I mentioned Cal Fair may have to instigate assessment charges on policies throughout the state to cover shortfalls. Much like a property tax bill where you get an invoice for a new road or what have you, a fire assessment would send you a bill out of the blue to help cover costs.

In the middle of the crisis, it’s difficult to tell how this will all wash out. But my guess is the Federal and or state governments along with the insurance companies will all have to contribute massive amounts of money to cover the costs of these fires. A bail out by somebody is in the cards.

A bail IN, where you and I will be asked to contribute is also a possibility.

In conclusion, whatever happens, if you thought insurance rates of all kinds were high now, it’s not rocket science to foresee even higher rates are in our future.

For now, let us offer our prayers and support for those victims and their families, our first responders and all those involved in bringing this horrid event to a close.

“Watching the markets so you don’t have to”    

(end)    

(As mentioned please use the below disclaimer exactly) THANKS   (Regulations)    

This article expresses the opinion of Marc Cuniberti and is not meant as investment advice, or a recommendation to buy or sell any securities, nor represents the opinion of any bank, investment firm or RIA, nor this media outlet, its staff, members or underwriters. Mr. Cuniberti holds a B.A. in Economics with honors, 1979, and California Insurance License #0L34249 His insurance agency is BAP INC. insurance services.  Email: news@moneymanagementradio.com

 

 

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Marc Cuniberti, award winning host of Money Matters and Money Management Radio, welcomes you to his updated website. Money Matters articles grace the pages of many newspapers and financial media. On this website, you can download any of his radio shows by subscribing on any website page. Sign up for his newsletter or learn about his opinions about the economic world around you by clicking around the site. Of course, the radio shows are the main reason the site is here, so look through the SHOW TITLES page to hear a variety of topics,one or more are certain to peek your interest and perhaps find a show(s) that apply to your particular interest or question. 

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Insurance can protect you and your family from undue hardship. Some life insurance policies also provide tax-advantaged savings that you can draw on to achieve goals like buying a house or retiring comfortably. I have access to a variety of insurance products that can help meet your security planning needs. No matter your personal situation—if you’re single or in a family; a professional or a seasonal employee; an executive or small business owner—we will work together to design a customized plan.

  • Life
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A Word about Life insurance:

In the event of death, life insurance may offer surviving family members financial security. As a tax-free lump sum payment, it can pay for final expenses and debts, as well as provide income for the deceased’s dependents.

 

The advantages of life insurance include:

An instant estate for your loved ones at a time when funds are most needed

  • Death benefits that are almost always non-taxable for named beneficiaries
  • Avoid probate costs if you name a beneficiary other than your estate
  • Potentially offer your loved ones creditor protection through some life insurance plans
  • Build tax-advantaged capital for retirement purposes or provide liquid savings through some permanent life insurance plans

Long-term Care, Disability and Critical Illness insurance, Lifetime income strategies and Medicare:

Help protect one of your most valuable assets – your income – from unexpected events through long-term care, disability and critical illness insurance.

Income is important for both current financial obligations (e.g. grocery bills and mortgage payments) and for future financial security (e.g. planning for your children’s education or for retirement). Just think what might happen if you suddenly lost your income stream through a long-term illness or disability.

Long-term care and disability insurance products help protect your ability to earn an income, which can be affected if you are afflicted by a disability or other condition.

Questions about Medicare? 

I can help navigage the programs.

I can also help you choose the long-term care and disability insurance products that provide advantages like:

  • May assist in transfer of assets. 
  • Help loved ones 
  • Assist with paying fixed expenses for your business if you become disabled
  • Support the buy-out of a disabled partner’s share of a business.

Critical illness insurance and Medicare Policies

Suffering a critical illness is distressing for both you and your family. Help ease the burden through insurance that will reduce financial stresses and can complement disability and life insurance protection needs. By helping pay for the additional expenses often associated with a critical illness or condition, insurance offers you, your family, and if applicable, your business, added financial security—so you can focus on recovery.

The advantages of critical illness insurance can include:

  • Coverage for up to 22 critical illnesses or conditions
  • An initial lump-sum benefit you can use however you wish—from making mortgage payments to seeking medical treatment outside Canada
  • Home-care costs during illness and recovery periods
  • Even if you’re not disabled from working, you may receive payment
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  • Individuals who cannot obtain disability insurance in some cases still qualify for critical illness coverage (e.g. a non-income earning spouse)
  • Medicare Policies and information. Let me walk you through the best options for your situation

Contact me today to determine whether critical illness insurance fits into your financial security plan.

 

There are also new “hybrid” plans available that combine the benefits of life insurance or annuities with long term care coverage and at a cost that may be more affordable than you think. Contact me today so we can assess your needs and develop the best strategies for your specific situation to give you the peace of mind you require and protect your family and loved ones.

 

Mark (Marc) Cuniberti- California Department of Insurance License # OL34249

 

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(530)559-1214

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This website expresses the opinions of Marc Cuniberti. Past performance does not guarantee results.

Insurance Solutions offered by Marc Cuniberti and not affliated with Vantage Financial Group.