Featured Articles Blog

0

Markets/Coverages: Aon Offers Carbon Capture, Storage Insurance for Energy Transition

Article 0 Comments Insurance broker Aon plc has developed a new insurance product designed for international transport and storage companies that are engaged in storing carbon dioxide for decarbonization projects across the globe. The new product is aimed at providing cover for key risk exposures associated with carbon capture and storage (CCS) and advances the role of insurance in de-risking global CCS projects, said Aon. This, in turn, opens up access to capital providers and investors, addresses a significant protection gap for these developments, and changes the perception of what is insurable. Carbon capture utilization and storage addresses aspects of environmental, social, and governance (ESG) by reducing carbon emissions and allowing energy and other emitting industries to meet their net zero goals and objectives. Aon’s energy transition product was created through its role as insurance broker to Eni UK, the lead company in the consortium delivering the low carbon and hydrogen HyNet North West project (in which Eni is the transportation and storage operator), and the Northern Endurance Partnership (NEP), comprising bp, Equinor, and TotalEnergies. This project is among the first large commercial-scale and complete carbon transportation and sequestration processes for capturing, removing and storing industrial carbon dioxide emissions –...

0

How to Have Disability Insurance Planning Conversation

What You Need to Know Barely half of workers have disability insurance. Some have no idea they need protection. Few understand the limitations of employer-provided coverage. May is Disability Insurance Awareness Month. Of course, most financial professionals don’t need to be reminded about the importance of disability insurance and the critical role it plays in financial planning and financial well-being. However, it’s often a topic clients like to avoid. While clients might be hesitant to discuss anything involving the term disability, delaying the conversation — or allowing the conversation to be delayed — can cause more harm than good. Consider that, according to Guardian’ sMind, Body, and Wallet study, financial well-being plays an outsized role in influencing overall well-being. Therefore, one of the best steps clients can take to ensure their well-being is to have sufficient disability protection in place. Of course, this can be easier said than done. Fortunately, there are a number of strategies financial professionals can use to start the conversation. Re-framing the Discussion For a client, talking about a “disability” can be scary. Income protection and cash flow, on the other hand, are often top-of-mind for clients and concepts they care deeply about. In fact, the Insuring Your...

Hub Announces Acquisition of Certain Assets from 2197747 Alberta Ltd. 0

Hub Announces Acquisition of Certain Assets from 2197747 Alberta Ltd.

Hub International strengthens Commercial and Personal Insurance capabilities with acquisition of certain assets from Alberta-Based 2197747 Alberta Ltd. Chicago, IL (May 8, 2024) – Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today the acquisition of certain assets from 2197747 Alberta Ltd., which is in turn partially owned by Carianne O’Connor (O’Connor). Terms of the transaction were not disclosed. Located in Edmonton, Alberta, Canada, O’Connor is an experienced insurance consultant specializing in commercial insurance, including farm, and personal insurance, home and auto. O’Connor will join Hub Prairies. About Hub’s M&A Activities Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience. For more information on the Hub M&A experience, visit WeAreHub.com. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 17,000 employees in offices located throughout North America, Hub’s vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so...

0

UK Tightens Scrutiny of All Indian Spice Imports Amid Contamination Allegations

Article 0 Comments Britain’s food watchdog has applied extra control measures on all spice imports from India, it said on Wednesday, becoming the first to ramp up scrutiny of all Indian spices after contamination allegations against two brands sparked concerns among global food regulators. Hong Kong last month suspended sales of three spice blends produced by MDH and one by Everest, saying they contained high levels of a cancer-causing pesticide ethylene oxide. Singapore also ordered a recall of the Everest mix, and New Zealand, the United States, India and Australia have since said they are looking into issues related to the two brands. Before Global Scrutiny, Indian Spice Maker MDH Faced Many US Rejections MDH and Everest – two of India’s most popular brands – have said their products are safe for consumption. In the most stringent crackdown so far impacting all Indian spices, the UK’s Food Standards Agency (FSA) said that in light of the concerns it has “applied extra control measures for pesticide residues in spices from India which includes ethylene oxide.” The agency did not elaborate on the exact steps it is taking. “The use of ethylene oxide is not allowed here, and maximum residue levels are...

0

Number of People With Individual Disability Insurance Stalls

Few high-income U.S. clients have much protection against injuries or illnesses that could cost them the ability to earn a living. Only 3.1 million U.S. adults had individual disability insurance in 2023, according to new data from Gen Re. The number with their own coverage was the same as in 2022. The number of people with new policies increased 4%, to 275,235, but policy lapses offset new policy sales. What it means: About 30 million U.S. adults live in households with monthly income over $17,000. The Social Security Disability Insurance program has a 2024 monthly benefit limit of $3,822, according to Evans Disability. Only about half of U.S. employers offer group disability benefits programs, and the maximum monthly benefit at those is less than $10,000 per month. The figures suggest that about 90% of high-income clients who come to a typical financial professional will have no disability insurance or insurance that’s too skimpy to replace 60% of the client’s pre-disability income. If the group disability coverage lacks a portability provision, and a struggling client stops working before applying for group disability, the client may lose access to the group disability benefits. Gen Re: Gen Re is a reinsurer, or insurance...

Blanket Partners with Humania on Simplified Term Life Insurance 0

Blanket Partners with Humania on Simplified Term Life Insurance

Montreal, QC (Apr. 23, 2024) — Blanket Life, a digital-first insurance provider and online broker of life insurance and property & casualty insurance products, is pleased to announce the launch of its Simplified Issue Term life product in partnership with Humania Assurance. “We are delighted about our collaboration with Humania to bring this exciting term product to life for Canadian families” said Elizabeth Leah Lipkowitz, Founder and Chief Product officer of Blanket. “This product has competitive pricing in line with fully underwritten products and requires no medical exams. It has never been so easy, accessible or affordable to buy term life insurance. Families can sleep easy in less than 5 minutes knowing they are covered with a product and carrier they can trust.” The launch of this new Canadian product fits into Blanket’s strategy to digitize insurance products and make the purchase of insurance more seamless. “We are eager to deploy our innovative simplified issue term life product and continue our journey to digitize the insurance world while responsibly protecting families with coverage they can count on” Lipkowitz continued. “This marks the first step on our life insurance road in Canada to simplifying the way people protect what matters most...

0

Baltimore Bridge Collapse Occurred After Ship Lost Power Multiple Times

Article 0 Comments The container ship that rammed into Baltimore’s Francis Scott Key Bridge in March lost power multiple times on both the day of the fatal accident and the day before, according to a preliminary report. The Dali, which sails under the flag of Singapore, lost power twice on March 26 before hitting the bridge and causing it to collapse, killing six construction workers who were on the structure at the time. The first blackout was caused when electrical breakers powering most of the vessel’s equipment and lighting unexpectedly tripped, the National Transportation Safety Board said in a report Tuesday. The crew eventually was able to restore electrical power, but then a second blackout occurred only 0.2 miles from the bridge. They regained power, but the ship lacked the propulsion needed to avoid striking the bridge, safety inspectors found. It wasn’t the first time the ship experienced blackouts. Two also occurred while the vessel was in the Port of Baltimore. The first, occurring about 10 hours before the vessel left port, was caused when a member of the ship’s crew mistakenly closed an inline engine exhaust damper, causing the engine to stall, the NTSB said. A second blackout occurred...

0

Vanguard Names Former BlackRock Exec as Next CEO

Vanguard Group has named Salim Ramji, a former BlackRock executive, to replace outgoing CEO Tim Buckley, effective July 8, the asset manager announced late Tuesday. It will mark the first time an outsider has been tapped to lead the asset manager in its roughly 50-year history, according to the Wall Street Journal. “I have worked with Salim on the Executive Committee of the Investment Company Institute,” Buckley said in a statement. “He cares about advancing the interests of individual investors, has a strong fiduciary ethos, and thinks strategically about solutions. “Salim understands our organization’s deep sense of purpose and commitment to put clients first, which is a hallmark of Vanguard’s leadership team and culture,” the outgoing CEO added. Ramji — the former head of iShares ETFs, index investments, U.S. wealth advisory and corporate strategy — left BlackRock earlier this year after a decade with the asset manager. At the time, he said he would “seek a new leadership or entrepreneurial opportunity” outside of the firm.  Prior to his work at BlackRock, he spent 16 years at McKinsey & Company , where he led the consulting group’s asset and wealth management practice areas. He also worked earlier for the law firm Clifford Chance....

0

People Moves: AXA XL Reinsurance Names Sawyer to Expanded Role of Head of London Casualty, Reinsurance; Fusion Specialty Hires 2 for M&A Team in London

Article 0 Comments This edition of International People Moves details appointments at AXA XL Reinsurance and Fusion Specialty. A summary of these new hires follows here. AXA XL Reinsurance Names Sawyer to Expanded Role of Head of London Casualty, Reinsurance Ian Sawyer AXA XL Reinsurance announced it has appointed Ian Sawyer to the newly expanded role of head of London Casualty, Reinsurance, with immediate effect. Sawyer will be responsible for both the US and International Casualty Treaty propositions in London and will oversee AXA XL’s Cyber Reinsurance offering internationally. Sawyer brings more than 37 years’ experience to the business having re-joined AXA XL in 2022 after previously working with the business as head of Casualty five years earlier. His career includes experience as head of Global Casualty, covering US and International Casualty business written in London and domestically within the US, and time spent as a US casualty treaty claims broker. *** Fusion Specialty Hires 2 for M&A Team in London Fusion Specialty, the Sydney-based MGA platform within Pop Group Holdings (POP), announced the appointment of two additional members to its Mergers and Acquisitions (M&A) team in London: Alexander (Alex) Mackay joins Fusion UK as a partner and Tom Hopkins...

0

10 Steps Toward Making a LinkedIn Connection a Real-Life Relationship

8. The aftermath. Like a business meeting, you each go your separate ways. Now you have met and checked each other out, the initial anxieties should have disappeared. If you live or work in the geographic vicinity, you might choose to get together again, at least once or on a regular basis. You might decide on a couple’s night out, including spouses. It all depends on the situation. Because social media has its own protocols, your online friend might want to take a picture of you together, add some text and turn it into a LinkedIn post. Credit: Koonsiri/Adobe Stock