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First Minority-Led Tier-One Insurance And Reinsurance Broker Launches In The U.S.

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Philadelphia, PA, U.S. 21 January 2020: Protecdiv, the first tier-one minority-led insurance and reinsurance broker in the U.S., has launched….

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Sammons Financial Group will lay off an unspecified number of employees during the first quarter of 2019. The company cited efficiencies and automation as reasons behind the layoffs, which follow last month’s announcement of layoffs by Nationwide.

A.M. Best recently met with the Ohio National management team to discuss a series of recent events, including the insurer being sued several times for a decision to end trail commissions on certain annuities. A.M. Best is sticking with its strong ratings for now.

More regulation, changing compensation and the erosion of public trust are the top reasons many brokers/registered reps say they are considering striking out on their own via the independent channel. Nearly half of respondents to a new survey say they expect the brokerage channel to deteriorate.

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A 2018 study by Transamerica Center for Retirement Studies found 73% wish they'd put aside more money on a consistent basis, and half felt they waited too long to get serious about retirement saving. Hoping to learn from others' mistakes, I asked advisers with the Financial Planning Association and the Alliance of Comprehensive Planners to share their clients'…
Consumers are feeling very good about the economy.

The good news is that the experts were unanimous in their assessment that the U.S. economy would not slip into a recession this year. The bad news is that the experts were unanimous in their assessment that the U.S. economy would not slip into a recession this year.

Presidential candidates can promise all they want, but Congress often has more input.

New research offers the strongest cue yet for battling political parties to call a truce and cooperate with one another. Kiplinger Personal Finance now reveals that typical Americans now consider “political deadlock” to be the greatest threat to the U.S economy.

Equitable's new logo

NEW YORK–(January 14, 2020)–Equitable, a leading financial services company and subsidiary of Equitable Holdings (NYSE:EQH), today announced it is rebranding…
Several ex-NFL players filed false medical claims, authorities allege.

In the United States, providing patient care costs every American man, woman and child an average of $2,497 per year. Across the border in Canada, where a single-payer system has been in place since 1962, the cost of administering health care is $551 per person.

The exact number of Wyoming enrollees- 24,665- is down 227 from last year, a drop of about 1 percent. The enrollment period started sluggishly in Wyoming, officials have said, but picked up and finished at roughly the same figure from 2018.. The figures are perhaps more surprising given that Congress removed the tax penalty for not having insurance, meaning people…

The Food and Drug Administration announced Friday the legal tobacco purchasing age has officially been raised on a federal level from 18 to 21.. “It is now illegal for a retailer to sell any tobacco product– including cigarettes, cigars and e-cigarettes– to anyone under 21,” a notice on the FDA's website states. The age hike was included in a spending package…
The stock market is setting records in the final days of 2019.

The Nasdaq composite climbed above 9,000 points for the first time as Apple led technology stocks higher.

Wells Fargo& Co. is entering 2020 with considerable work left to do in rehabilitating its reputation with federal lawmakers and consumers. Wells Fargo ranked 96th, followed by Sears at 97th, Trump Organization at 98th, Philip Morris USA at 99th and the U.S. government at 100th. The poll comment included a brief synopsis of the fraudulent customer account scandal…
An Unum study revealed more time off at the top of workers' wish lists.

More than any other perk, workers want generous paid time off and flexibility from their employers, an Unum study revealed.

Millionaires are the most cautious they've been on the direction of the economy since the years leading up to the global financial crisis. Investor sentiment on the economy for the next 12 months dropped 14 points from a year ago to -7, its lowest level since 2006, according to Fidelity Investments' annual Millionaire Outlook Confidence Index.
Many families are struggling to make ends meet despite the strong economy.

Today’s workers have saved $50,000 in all household retirement accounts, but savings vary dramatically across demographic segments, according to A Compendium of Findings About U.S. Workers, a new report released today by nonprofit Transamerica Center for Retirement Studies.

Congress' Joint Committee on Taxation, which is the companion of the Congressional Budget Office, analyzed the cost of repealing the three taxes from 2020-29.. The repeals would cost nearly $197 billion, $25.5 billion, and $150.8 billion, respectively, over 10 years, the committee found. “Democrats are protecting the quality, affordable healthcare of millions by…
Annuities are attractive for advisors and clients because they offer income retirees cannot outlive.

Annuity sales fell in the third quarter 2019, decreasing 8.4% as the combined sales of fixed and variable annuities totaled $55.7 billion, according to data compiled by Beacon Research and Morningstar. Annuity sales are up 7.5% on a year-to-date basis, the report found.

President Trump is riding one of the strongest economies in modern U.S. history, even as House Democrats move their impeachment effort into high gear this week. White House economic adviser Larry Kudlow summed up the jobs report for the president this way: “It's a sunny day, sir.” The White House and its Republican allies are using the historically strong economy as…
The Trump administration made the Affordable Care Act one of its biggest targets.

National health spending reached $3.6 trillion– about $11,172 per person– in 2018, a 4.6% increase from the previous year, according to an annual report by the Office of the Actuary at the Centers for Medicare and Medicaid Services, published online in Health Affairs. Employer-sponsored health insurance is getting more expensive as well.

–US insurance revenues are forecast to advance 4.3% annually in nominal dollars through 2023, according to Insurance: United States, a report recently released by Freedonia Focus Reports. Population growth and continued expansion in economic activity are projected to drive insurance demand. These and other key insights are featured in Insurance: United…

Nov. 21– A jury heard opening statements from attorneys and cross-examination of witnesses Wednesday in the first day of the criminal trial of local insurance agent and Glynn County Commissioner Bob Coleman. Both Bob Coleman and his wife, Sherry, were charged by a Glynn County grand jury in January with 15 counts of felony violation of the Georgia Insurance Code–…

 LINCOLN, Nebraska, (November 18, 2019) – Ameritas Life Insurance Corp. will now offer a new whole life insurance product, Ameritas…

DES PLAINES, Ill., Nov. 19, 2019/ PRNewswire/– The National Insurance Crime Bureau today released its annual Hot Wheels report, which identifies the 10 most stolen vehicles in the United States. The report examines vehicle theft data submitted by law enforcement to the National Crime Information Center and determines the vehicle make, model, and model year most…

Think about what we are hearing from Elizabeth Warren, Joe Biden, Bernie Sanders, and the rest of the Punch and Judy Show. Payroll taxes would rise to pay for Social Security benefit expansions and Medicare for All. Meanwhile, Mr. Trump and the Republicans in Congress have the 2017 tax cut to trumpet— a reform that by almost any objective measure has worked better for…

The grand jury in Lexington indicted Michael McNew on one charge of conspiracy to commit mail fraud and wire fraud and five counts of wire fraud. McNew allegedly worked with others to defraud the federal government, which backs insurance policies for farmers, and ARMtech Insurance Services, a private company. Some initials match those of farmers who have…

MUNICH and REDMOND, Wash., Nov. 14, 2019/ PRNewswire/– On Thursday, Allianz SE and Microsoft Corp. announced a strategic partnership focused on digitally transforming the insurance industry, making the insurance process easier while creating a better experience for insurance companies and their customers. “Teaming up with Microsoft and leveraging Azure’s…

In June, PricewaterhouseCoopers got the guessing game started, publishing its closely-watched cost trend report for 2020, which predicts a 5 percent premium increase. The Society for Human Resource Management followed in August with an identical number. According to an annual employer health benefits survey published in September by Kaiser Family…

MILWAUKEE, Nov. 13, 2019 /PRNewswire/ — A new release of findings from Northwestern Mutual’s C.A.R.E. (Costs, Accountabilities, Realities, Expectations) Study…

He’s the superintendent of Rockland County’s Highway Department and his workers have the unpleasant task of cleaning up after a fatal encounter between deer and car. This has been a particularly busy year for deer strikes in New York and New Jersey is close to matching last year’s figures. The largest jump has been on roads patrolled by Troop F, which includes…

The house, business and warehouse fires occurred in San Jose and Stockton between December 2011 and September 2013, according to the California Department of Insurance. The department opened a joint investigation, dubbed Operation Firebird, with the San Jose Fire Department, Santa Clara County District Attorney’s Office and San Joaquin District…

HealthPartners is closing 30 retail pharmacies as well as its mail-order pharmacy operations next year due to economic pressures that officials say give an advantage to larger operators in the industry. HealthPartners, which is a nonprofit health insurer that also runs clinics and hospitals in Minnesota and Wisconsin, said it will work with patients…

Net written premium for the three months ended September 30, 2019 was $10.325 billion, an increase of $136 million or 1.3% over the same period in 2018. Pre-tax operating income before partnerships, limited liability companies and other equity method income for the three months ended September 30, 2019 was $125 million, a decrease of $187 million or 59.9%…

President Emmanuel Macron’s visit to China this week suggests that the United States risks being sidelined on the global stage under President Donald Trump. Just as the Trump administration formally launched the process of pulling out of the 2015 Paris climate agreement, France and China issued a ” Beijing call” on Wednesday for increased global cooperation…

–A new survey from Wilmington Trust, in collaboration with experts from its parent company M&T Bank, finds that a clear majority of owners of privately held businesses are unprepared to transition or sell their business, even as Baby Boomers retire and hundreds of thousands of businesses come to market over the next decade. The quarterly survey, Wilmington…
Insider

—A New Jersey man is not going to prison for orchestrating a slip and fall insurance scam. Under terms of a plea agreement, a judge on Monday instead sentenced 58- year-old Alexander Goldinsky to probation, community service and ordered him to pay $563.48 in restitution to an insurance company. Middlesex County prosecutors say Goldinsky was an independent…

The deadline to file a claim for losses from the Camp Fire and some other wildfires linked to Pacific Gas& Electric Co. has been extended, and more people are likely to be eligible to file than they think. The claims are part of the bankruptcy case against the utility for its suspected role in the 2018 Camp Fire in Paradise, as well as the 2017 wine country fires and the…

RADNOR, PA, – November 5, 2019 – Planning for long-term care needs has become an increasingly important topic as the…

The Louisville, Kentucky- based Humana announced Monday it’d be cutting 2% of its workforce by the end of the year, with some employees being let go as early as Thursday. The Courier-Journal reports that Humana employs 41,600 nationwide, so 2% would be about 832 people. Information from: Courier Journal, http://www.courier-journal.com.

The top five states for metal theft claims were: New Jersey, Pennsylvania, Ohio, New York, and Illinois. When ranked by the number of claims per 100,000 in population, the top five states are: Connecticut, New Jersey, Rhode Island, Delaware, and Maryland. The top five core-based statistical areas were: New York- Newark- Jersey City, NY-NJ-PA, Philadelphia- Camden-…

–The Insurance Institute for Highway Safety rated the pedestrian crash prevention systems of 16 midsize cars in the lead-up to Halloween, a holiday that consistently ranks among the deadliest days for pedestrians in the United States. Four luxury and two nonluxury midsize cars earn a superior rating for their pedestrian crash prevention systems, while four…

—Flooding along the Missouri River has stretched on for seven months in places and could endure through the winter, leaving some Upper Midwest farmland and possibly some homes encased in ice. In Missouri’s Holt County, where Bullock serves as emergency management director, roughly 30,000 acres of the 95,000 acres that flooded last spring remain underwater,…

–It won’t come as a surprise that business owners view 401 s as advantageous both for their business and their employees. And with the Bureau of Labor Statistics reporting 71 percent of all U.S. workers have access to retirement benefits, offering a 401 to employees has become necessary in order to competitively attract and retain talent in today’s strong,…

Security Benefit Life Insurance Company today announced the launch of its new Strategic Growth Series Annuities, two new fixed index annuities which offer contract-holders the ability to safely accumulate and grow retirement assets without the risk of market losses. “We set out to design an annuity series that provides financial representatives and…

Oct. 28– A behind-the-scenes struggle over what Pennsylvania doctors can do to patients? Jonathan Garino, a leader of the Pennsylvania Orthopaedic Society, said insurance companies’ use of the process is out of control. Steven Mentzer of Lancaster County and Rep.

Oct. 28– The annual sign-up period for individuals to sign up for health insurance is just around the corner and Iowa’s market is in a better place than it was in recent years, some experts say. In the past, Iowa has dealt with an unstable insurance market. “We don’t expect anything different for the coming year,” said Scott Sundstrom, vice president of government…

“Mr. Lindberg has asserted from the outset that the allegations about his insurance companies and him are false and is pleased that Mr. Freeh and his team to have agreed to take on this assignment,” a spokesperson for Mr. Lindberg stated. Mr. Lindberg started a small health insurance compliance and reimbursement newsletter business with $5,000 in 1991 that became…