For years, the little-known New York hedge fund Platinum Partners stood out for double-digit investment returns that rivaled some of the biggest names in the industry. David Levy, the firm’s co-chief investment officer, was also among those arrested in the morning by agents in Texas, Manhattan and New Rochelle, a suburb of New York City. Platinum tapped…
In 2014, 5.3 percent of insured homes had a claim, according to the Insurance Information Institute and ISO data. Related: U.S. homeowners’ premiums to reach $91 B for 2016. Washing machine mishaps Hub International recommends that you avoid loose or damaged washing machine hoses by replacing them at least every three years, and inspect frequently for…
Witnesses at hearing say merger could restrict payments, reducing patient services
—The insurance industry and its regulators are asking a judge to allow documents detailing “shadow insurance” subsidiaries created by life insurers to remain secret. The Iowa Insurance Division and the Federation of Iowa Insurers are opposing a lawsuit filed by Indiana University professor emeritus Joseph Belth, who’s seeking the documents under Iowa’s…
Republicans have an” ironclad commitment” to repeal the law, the aide said, as lawmakers moved to discredit predictions that many people would lose coverage. ”Republicans,” he said,” will provide an adequate transition period to give people peace of mind that they will have those options available to them as we work through this solution.”. Republicans have not…
After more than a year of radio silence, talk of changes to Michigan’ s no-fault system is reverberating in the halls of the state Capitol again. Michigan has no-fault auto insurance. When an accident results in serious injury, lifetime medical expenses of more than $545,000 are covered by the Michigan Catastrophic Claims Association, which reimburses the…
The marketplace may be the ultimate arbiter of the regulation, say MarketCounsel conference experts.
Given how dysfunctional many families are during a crisis, a lack of coordination of agents can sow even more financial confusion, and even conflict.
Customer churn is not a new concept in the insurance industry– in fact, losing customers is often considered part of doing business for insurance companies, and many companies accept it as inevitable. However, it does not have to be. It all comes down to understanding the emotions of the clients: fear versus care.
Dec. 14– For half a decade, U.S. Atty. Now, she’s the first person they might call to defend that kind of accusation, as top crisis manager for one of the premiere corporate litigation firms in the country, the Los Angeles- based Gibson, Dunn& Crutcher. Appointed to California’s sprawling Central District of the U.S. attorney’s office in 2002– the first Asian American…
Natixis recently released the investment outlook of 500 institutional investors from around the world who manage corporate pensions, public pensions, sovereign wealth funds, insurance funds as well as endowments and foundations. Brexit, a Donald Trump presidency and Italy’s no vote on constitutional reforms are “emblematic of the forces of change” that…
David Cordani, in Houston for a pair of morning events, cautioned that “continuity” should be part of any future health care law no matter if it comes quickly or lags. By the end of last week, nearly 450,000 Texans had enrolled, including 141,624 in Houston, according to U.S. Health and Human Services figures released Wednesday.
Nationwide has entered into a deal with New York- based insurer National General Holdings Corp. that allows National General to sell coverage to the existing Natinowide customers through insurance agents who sell Nationwide products. “Our transaction with Nationwide will give National General the opportunity to expand our non-standard auto business, an…
Most of today’ s pre-retirees are learning that replacing their employment income isn’ t as simple as it was for previous generations, who benefited from a funded defined-benefit plan. With DB plans largely becoming extinct, many advisors believe a 4 percent systematic withdrawal from a diversified portfolio of stocks and bonds was an optimal approach for…
Dec. 13– California Insurance Commissioner Dave Jones announced an investigation Monday into the sale of Prudential insurance policies by Wells Fargo& Co., marking the first time the bank’s unauthorized accounts scandal has widened to include another institution. New Jersey’s insurance department is also probing the companies. Wells Fargo spokesman Mark…
Actuaries use numbers to try to manage risk and predict the future. They are on the ground floor of precision medicine, which will rely in part on number-fueled predictive modeling.
Property-Casualty Outlook, “a survey of insurance chief risk officers, Ernst& Young highlights some of the factors that will have the greatest impact, such as the estimated 70,000 people who are expected to retire, the Trump administration and its effect on the economy, and the changing regulatory landscape. According to the Ernst& Young outlook, only a moderate…
Financial advisors may want to keep a close watch on how the next Congress and president deal with Social Security, Medicare and Medicaid. According to a new survey from Nationwide Retirement Institute of adults 50 and older, Social Security and Medicare top the list of sources they expect to use to pay for health care in retirement. During the primary and…
Byline: Christine G. Barlow, CPCU. Agents and brokers play an important role as trusted advisers for their clients. Generally, buyers know they need insurance coverage, but they often aren’t sure what their specific requirements are.
