Press Release

Americans’ Personal Savings Are Up As Financial Anxiety High

New research from Northwestern Mutual’s 2020 Planning & Progress Study reveals that the savings rate among American adults aged 18+ is up, and it’s likely the result of their concerns about what could come next financially and economically at this extraordinary moment in history.

Andrew McMahon To Become Guardian CEO

NEW YORK, N.Y., Sept. 23, 2020 – The Guardian Life Insurance Company of America’s Board of Directors announced today that…

3.3M Lost Employer-Based Health Insurance Over The Summer

Researchers estimate 1.9 million adults became newly uninsured from late April through mid-July. Conducted by researchers at the Urban Institute with funding from the Robert Wood Johnson Foundation, the study analyzes data from the U.S. Census Bureau’s Household Pulse Survey.

COVID-19 Turned More Americans Into Savers

Nearly half (49%) of respondents say their monthly spending has decreased over the course of the last year. Among that group, more than half (53%) say they are spending less because they are worried about the current economic situation and another 26% are spending less because they say their monthly income has decreased.

Schwab Survey: Americans Lack Financial Education During COVID

Half of all Americans would experience financial hardship if they had to cover an emergency expense of $1,000 or less in the next 30 days, according to a new Charles Schwab Financial Literacy Survey conducted by The Harris Poll. Nearly two-thirds of U.S. adults chose financial education as the most important supplemental graduation requirement.

Nearly Half Of Indy P/C Agencies Lost Revenue In 2020: Big ‘I’

A national survey of Big “I” leadership agencies by the Independent Insurance Agents & Brokers of America shows that the COVID-19 pandemic continues to have a significant impact on the day-to-day operations of independent insurance agencies as the crisis lingers.

AIG Names New Executive Team

AIG announced that David McElroy, currently President and Chief Executive Officer of the North American operations of General Insurance, has been promoted to Chief Executive Officer, General Insurance, and Executive Vice President, AIG, effective immediately.

COVID-19 Sparks Family Conversations On Financial Matters

Two-thirds (67%) of Americans say that the pandemic has been a wake-up call for them to reevaluate their finances, according to a new study by Life Happens, a nonprofit dedicated to educating consumers about the importance of life insurance and other related products for sound financial planning.

Exclusive

LIMRA: Fraud Is On The Rise In Financial Services

A recent LIMRA survey of financial services companies identified increased fraudulent activity, as well as efforts to combat it through education and other preventive measures.

Advisors, Consumers Didn’t See COVID-19 Coming: Study

Despite growing attention to COVID-19 in the run up to the March stock market crash, the sixth annual Guaranteed Lifetime Income Study finds that few clients or advisors believed a market downturn was very likely in 2020.

Just 21% Of Consumers Are Confident In Economy, LIMRA Finds

A new LIMRA study finds just 21% of Americans have a favorable view of the economy, down from 25% in March 2020 and falling to less than half of the 56% reported in January 2020. The ongoing pandemic is chipping away at jobs and spending as millions remain unemployed.

Unmarried Women Less Confident About Retirement – With Good Reason

A new study conducted by the Employee Benefit Research Institute finds that unmarried women had lower levels of retirement confidence than their married counterparts and were more likely to have fewer resources and be less prepared for retirement. The research also finds over half of unmarried women retired earlier than they expected.

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