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Search results for "Bermuda" ...
Six years after eight hurricanes ripped across Florida, state residents still struggle to recover from the storms' legacy - a wrecked property insurance market. Exorbitant premiums, the highest in the world, have soured the state's struggling economy, killed real estate sales and forced families from their homes. Homeowners were told that unless they paid even more, no insurance company would take their hurricane risk. The Herald-Tribune showed that is a lie. Floridians have been lied to about why there is a crisis, where their money is going, and whether they're even protected against storm losses. Public policy has been corrupted by fiction spun by the insurance industry and its supposed regulators. Billions of dollars desperately needed for the next disaster have been siphoned offshore. And millions of homeowners are left to entrust their financial security on a system rigged to extort profit. To expose the hidden truth of Florida's insurance crisis, St. John cultivated key sources deep within every aspect of the insurance industry and sought massive amounts of financial and policy data from multiple state and national entities. When it became obvious Florida's crisis was manipulated from afar, she traveled to Bermuda and Monte Carlo to discover the hidden players truly in charge.
"A Donor's Obsession with Secrecy; Charles Feeney's private generosity prompts charity leaders to weigh the merits of anonymous giving"The Chronicle explores anonymous giving by individuals or foundations, spurred by the outing of secret philanthropist Charles Feeney. Feeney set up foundations in Bermuda to avoid the scrutiny of American nonprofit regulations, while maintaining a strict conflict of interest policy on his foundations' boards.
The Times reports on how companies and rich families use off-shore services -- such as registering in Bermuda, under the advice of Ernst & Young -- to avoid paying taxes. The stories reveal that the federal government has lost billions of dollars each year in evaded taxes. As a result of the uproar, many Republicans in Congress have broken with the party leadership and have voted to tighten the legal loophole.