| ETFs: A user's guide
There's nothing Wall Street loves more than having a new product to peddle, and exchange-traded funds (ETFs) have been one of the most popular offerings of the new century. Last year no fewer than 156 new ETFs hit the market; today, the total is about 400. The pace is set to pick up this year when the Securities and Exchange Commission streamlines the approval process. And ETF sponsors are hoping to make them available in 401(k)s, which would give them a much broader audience. .
Lawmakers close to resolving a major insurance disagreement
State-run Citizens Property Insurance would get to write other policies along with wind for its most vulnerable coastal customers, potentially reducing premiums, under a plan that House and Senate negotiators appeared close to accepting Saturday. .
Insurance plan: Rate cuts up to 25%
For the first time in years, state lawmakers sided with homeowners at the expense of the insurance industry Sunday as they hammered out a massive hurricane-insurance overhaul that they promise will lower rates. The promised rate cuts of 5 to 25 percent - varying from place to place and company to company - are based largely on two measures: having taxpayers shoulder an unprecedented $35 billion in insurance risk, and expanding state-run Citizens Property Insurance to compete with private companies in high-risk areas. Citizens customers, who live mostly along the coast and largely in South Florida, will see the smallest savings, from 5 percent to 20 percent, compared to their 2006 rates. But lawmakers can't guarantee that it all will work. They can't control the weather.
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