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Help Clients Navigate Common Medicare Pitfalls

Observation status doesn’t count. Advisors should inform clients about this rule and encourage them to verify their hospital status to avoid unexpected SNF costs. Olivia’s Medicare Advantage Relief Olivia had enrolled in a Medicare Advantage plan that featured a maximum out-of-pocket limit, or MOOP limit. This gave her peace of mind when her healthcare costs started rising, as she knew her out-of-pocket spending was capped for the year. Unlike Original Medicare, Medicare Advantage plans include an annual cap on out-of-pocket spending. Advisors should encourage clients to consider MOOP limits when selecting a plan, especially for those with anticipated higher healthcare needs. Roberto’s IRMAA Surprise As a high-income retiree, Roberto was surprised to discover that his Medicare premiums were higher than expected due to the income-related monthly adjustment amount, or IRMAA. This surcharge raised his Part B and Part D premiums based on his income from two years prior. Advisors should discuss IRMAA with high-income clients, helping them plan for the surcharge. Advisors can also assist clients with appealing IRMAA if their income drops significantly due to retirement or other qualifying events. Olivia and Roberto’s Travel Plans and Medicare’s Limited Coverage Abroad Both Olivia and Roberto had always dreamed of traveling...

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Huntington Starts Coaching Program for Insurance Marketing, PR, and Ad Pros

Article 0 Comments Ted Huntington, a marketing leader with a track record in the insurance, finance, and energy sectors, announced the launch of his new national coaching enterprise, dedicated to helping insurance marketing, communications, public relations, and advertising professionals elevate their careers. Huntington brings decades of experience and a passion for developing talent, having built high-performing marketing teams and driven record-breaking growth for top-tier organizations, including Mercury Insurance and the Professional Insurance Agents. Huntington’s coaching programs offer tailored, one-on-one sessions on strategic career development, leadership, and targeted skill-building. He has earned a Coaching Practices Certificate from UC Davis Extension. “Earning the Coaching Practices Certificate allowed me to deepen my understanding of coaching methodologies, which has been instrumental in creating customized, impactful programs for my clients,” he said. “Not every organization possesses the internal resources to effectively coach their marketing staff to attain their goals,” Huntington added. “My custom coaching program fills that gap and is tailored to fulfill the specific needs of each employee, from the new marketing assistant to the C-level marketing executive.” Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found...

Wawanesa Insurance Achieves API Security Standards Certification, Safeguarding Data and Credentials for Brokers 0

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Wawanesa Insurance Achieves API Security Standards Certification, Safeguarding Data and Credentials for Brokers

Toronto, ON (Oct. 29, 2024) – CSIO is pleased to announce that Wawanesa Insurance has achieved CSIO’s Application Programming Interface (API) Security Standards Certification, demonstrating their commitment to data confidentiality and API endpoint security. CSIO’s API Security Standards were created in collaboration with insurer and Broker Management System (BMS) vendor members and provide a standard authentication and authorization API model. As an API Security Standards Certified insurer, Wawanesa has verified that all security concerns for API endpoints have been addressed. With this Certification, Wawanesa’s broker partners are assured that their information remains safe when accessing an API endpoint. “As Wawanesa continues to make investments to meet the ever-evolving needs of our brokers, providing comprehensive security measures is critical to solidifying our position as a technology leader within the insurance industry,” said Cam Muckosky, Vice President, Digital Delivery at Wawanesa. “We’re proud to support CSIO’s mandate, with this API Security Certification a clear testament to our commitment to shaping the standards for industry connectivity.” “Wawanesa’s Certification reflects their commitment to safe and robust data exchange services,” said Catherine Smola, President & CEO of CSIO. “With increasingly digitized operations, API Security Standards build broker confidence that their data is safeguarded at all...

BrokerLink completes three acquisitions in Alberta and Ontario 0

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BrokerLink completes three acquisitions in Alberta and Ontario

Toronto, ON (Oct. 30, 2024) – BrokerLink is pleased to announceit continues to grow with the acquisition of Grandin Agencies Insurance (“Grandin Agencies”) on September 1, and Beauchamp Insurance Limited operating as All-Risks Insurance Brokers Sudbury (“All-Risks Sudbury”) and 2694215 Ontario Inc. operating as All-Risks Insurance Brokers Callander (“All-Risks Callander”), effective October 1. These three acquisitions enable BrokerLink to expand and serve additional customers in Alberta and Ontario. Grandin Agencies, located in St. Albert, AB For more than four decades, Grandin Agencies served the community of St. Albert and the neighbouring areas with personal and commercial insurance options. The family-owned and operated business understood the needs of their customers and offered tailored insurance solutions for homes, vehicles, motorcycles, rental properties, cottages, boats, recreational vehicles and businesses. All-Risks Sudbury, based in Chelmsford, Greater Sudbury, ON All-Risks Sudbury has provided reliable insurance services to Chelmsford and the surrounding communities since 2009. The brokerage is known for its knowledgeable insurance professionals who offer personalized service and tailored solutions for home, auto and commercial insurance. Over the last 15 years, the All-Risks Sudbury team built a reputation for excellent customer service and are proud to have grown their office into one of the area’s...

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JPMorgan Sues Customers Over Check Fraud Linked to Glitch That Went Viral

Article 0 Comments JPMorgan Chase, the largest U.S. bank, has begun suing customers for check fraud, saying they improperly withdrew funds by taking illegal advantage of a temporary technical glitch that went viral on TikTok. The glitch in late August let customers deposit big checks in ATMs and withdraw funds immediately before the checks could clear, even if the checks later bounced. Chase filed four lawsuits on Monday in federal courts in Los Angeles, Houston and Miami, accusing two individuals and two businesses of illegally retaining more than $661,000 after the checks they deposited were deemed counterfeit or forged. In the largest case, Chase said a Houston man still owes $290,939.47 after withdrawing over two days most of a $335,000 check that a masked man deposited in his account on Aug. 29. Chase said the check was rejected on Sept. 4. The defendants did not answer, did not accept, or could not immediately be reached with messages seeking comment on Monday. All four lawsuits accuse the defendants of violating their deposit agreements, and seek the return of improperly withdrawn funds plus other costs. JPMorgan, based in New York, said it is pursuing the cases and cooperating with law enforcement to...

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Cause of Death Found for Wells Fargo Employee Who Died at Desk

“Denise was the only person on her team in Tempe. This may be one of the reasons why her desk was located in an underpopulated area in the building and nobody checked on her for four days,” the committee said, adding that this happened even as the company remotely monitors employees’ keystrokes. “Wells Fargo has been implementing mandatory ‘return to office’ policies requiring employees to come into the office, even if all of their team members and direct supervisor live and work in another state,” the group added. Among other demands, the group asks Wells Fargo to improve safety precautions and reevaluate its “return to office” policy. A Wells Fargo representative didn’t immediately respond to a request for comment Tuesday. In August, a Wells Fargo spokesperson said the company was deeply saddened by Prudhomme’s death and was “committed to the safety and wellness of our workforce.” Credit: Google Street View

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People Moves: The Hartford Announces New Leadership Appointments In Global Specialty

Article 0 Comments The Hartford, headquartered in Hartford, Connecticut, has expanded Michael Garrison’s role to include the international division in addition to his current responsibilities as head of the company’s U.S. wholesale organization. Garrison joined Navigators in 2021 as the head of wholesale. Carl Bach, head of international and CEO of Hartford Underwriting Agency Limited, the Lloyd’s of London managing agency for Syndicate 1221, will report to Garrison. Rick Ciullo The Hartford also named Rick Ciullo head of Global Specialty’s U.S. retail businesses, broadening his role overseeing bond and credit & political risk to include environmental, financial lines, ocean marine, livestock and related retail-focused distribution. Ciullo has led The Hartford’s Bond business since 2016. The leadership team of the businesses reporting to Ciullo remains unchanged. The changes are effective Nov. 1. Garrison and Ciullo continue reporting to The Hartford’s head of Global Specialty, Adrien Robinson. Topics New Markets Leadership Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. Interested in Leadership? Get...

Climate Change is Responsible for a 379% Increase in Average Annual Insurable Damages in the Last Decade in Canada 0

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Climate Change is Responsible for a 379% Increase in Average Annual Insurable Damages in the Last Decade in Canada

How Natural Disasters Impact Canadian Wallets: MyChoice Toronto, ON (Oct. 28, 2024) – In light of the devastating impact of the Milton hurricane in Florida, which by some estimates will cause anywhere in between $60-100 billion in insured damages, many Canadians are left wondering how the recent spike in natural disasters will impact the situation at home. This past summer in Canada will go down as one of the most challenging periods for homeowners and insurers alike. The Insurance Bureau of Canada recently reported record-breaking 228,000 insurance claims – representing a staggering 406% increase compared to the previous 20-year average. In light of these growing threats – MyChoice, a leading insurtech company in Canada, conducted a thorough analysis of how insurable losses from natural disasters changed over the last 40 years across Canada. Using data from the Canadian Disaster Database, the team compared the 10-year average of disaster-related annual insurable losses against the prior 30-year average, adjusted for inflation. The team also analyzed the Shelter Consumer Price Index data from the past 10 years to determine the home insurance inflation across Canada and compared it to current rates from the MyChoice quote database. Below are the key findings from the...

Neutrinos Unveils New Intelligent Automation Platform 0

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Neutrinos Unveils New Intelligent Automation Platform

New Automation Platform with 60+ Pre-Built Assets to Accelerate Insurance Industry Reinvention, Unlocking Unmatched Digital Transformation Capabilities for Insurers Atlanta, GA (Oct. 23, 2024) – Neutrinos, a technology company that automates business processes for insurance enterprises, is pleased to announce a major strategic shift with the launch of its new Neutrinos Intelligent Automation Platform. This next-generation platform represents a significant evolution in the company’s direction, moving beyond low-code to offer a comprehensive suite of intelligent automation tools designed to help enterprises—especially insurers—automate, optimize, and innovate at every level of their operations. The new platform brings together the power of an Omni-Channel Experience Layer, Low-Code Innovation Foundry, Process Automation, Advanced Decisioning, and Unified Control Management & Governance. This enhanced platform positions Neutrinos as a pioneer in intelligent automation for insurers, enabling customers to create seamless digital experiences, enhance operational efficiencies, and make data-driven decisions—all from a single, unified environment. A New Direction for Neutrinos: Empowering Enterprises through Intelligent Automation The shift reflects a commitment to catering to the evolving needs of enterprises by delivering a platform that not only accelerates development but also extends automation across every corner of the organization. This release marks Neutrinos’ entry into a new era where...