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California Wildfires Have Burned 1M Acres So Far This Year. Heat Wave Poses More Risk

Article 0 Comments The total acres burned in California this year surpassed 1 million as spiking temperatures this week added to the challenges facing firefighters struggling to contain a stubborn blaze in the mountains northeast of Los Angeles that flared up over the weekend. Evacuation orders were expanded again Monday for remote communities northeast of Los Angeles as the Line Fire that has been burning for nearly a month spread over nearly 68 square miles of the San Bernardino Mountains and containment dropped from 83% to 79%. “The dry vegetation, steep slopes and wind aligned … to create conditions for the rapid fire spread,” according to a statement late Monday from the California Department of Forestry and Fire Protection, or Cal Fire. The risk of wildfires increased across California as an autumn heatwave scorched much of the state. Some inland areas could see temperatures up to 20 degrees above average for this time of year, according the National Weather Service. San Francisco, where residents typically break out the sweaters in October, could hit 90 degrees (32 C), while triple digits (38 C) were predicted for Sacramento. The weather service office in the state’s capital urged residents to stay indoors during...

Ontario’s Financial Services Regulator and Fintech Cadence Partner to Support Fintech Innovation in Ontario 0

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Ontario’s Financial Services Regulator and Fintech Cadence Partner to Support Fintech Innovation in Ontario

New partnership will help pave the way for the introduction of new or improved products and services to the financial services market in Ontario Toronto, ON (Oct. 1, 2024) – Ontario’s financial services regulator (FSRA) and Fintech Cadence have announced a new partnership to foster fintech innovation in Ontario. This one-year partnership is supported through FSRA’s Innovation Office. It will empower and support fintech startups to identify opportunities and address barriers to help them bring innovative financial products and services to the province while maintaining consumer protection. “We are here to help foster responsible innovation in Ontario’s financial services sector. In this highly competitive global economy, it is essential for regulators, like FSRA, to understand regulatory barriers and challenges to innovation that are being faced,” said Stephanie Appave, Director of FSRA’s Innovation Office. “This partnership is a step forward in ensuring that we remain accessible and connected to the innovation ecosystem.” The collaborative efforts between FSRA and Fintech Cadence bring together FSRA’s unique vision as a regulator supporting innovation and Fintech Cadence’s financial technology sector-specific expertise. “It has long been in Fintech Cadence’s DNA to work with regulators to support innovation and provide connectivity between regulators and founders looking to...

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LPL Fires CEO Dan Arnold for Misconduct

What You Need to Know Arnold made statements to employees that violated LPL’s code of conduct, an investigation found. The firm named Rich Steinmeier, its chief growth officer and a managing director, as interim CEO. Arnold’s compensation in 2023 was $16.9 million — with close to $12 million tied to stock awards, much of which will now be automatically forfeited. LPL Financial says it has fired President and CEO Dan H. Arnold for violating LPL policies tied to “a respectful workplace.” He has also resigned from the board. Rich Steinmeier, the broker-dealer’s chief growth officer and a managing director, is now interim CEO. The board ended Arnold’s employment “for cause” based on the recommendation of a special committee of directors, following an investigation led by an outside law firm finding that he made statements to employees that violated the firm’s code of conduct. “LPL’s Code of Conduct requires every employee, no matter their title, to foster a supportive and professional workplace and show respect to each other, our stakeholders and the broader community,” said Chair James Putnam, in a statement. “Mr. Arnold failed to meet these obligations.” As for Steinmeier’s appointment, Putnam said: “The board has every confidence in Rich and LPL’s...

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Louisiana Seafood Restaurant Sued for Sexual Harassment

Article 0 Comments Minden Seafood, LLC, a seafood restaurant in Minden, Louisiana, violated federal law when it failed to stop a male worker from repeatedly sexually harassing a female employee and refused to rehire her after she quit, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit filed today. According to the lawsuit, the female employee was a cashier at the restaurant. A coworker repeatedly and persistently subjected her to unwelcome sexual advances, including making unwanted and inappropriate comments about her body, sexually propositioning her, and following her into a bathroom and exposing himself to her. The female employee complained to the restaurant owner, who allowed the harasser to continue working with the female employee. Finding conditions intolerable, the female employee felt compelled to resign. She asked to return to work, but her request was denied. Such alleged conduct violated Title VII of the Civil Rights Act of 1965, which prohibits sex discrimination, including sex-based harassment, constructive discharge and retaliation. The EEOC filed suit (EEOC v. Minden Seafood, LLC, Case No. 24-2360) in U.S. District Court for the Eastern District of Louisiana after first attempting to reach a pre-litigation settlement through its administrative conciliation process. Topics Lawsuits Louisiana...

The Positive Benefits of Periodic Client Reviews 0

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The Positive Benefits of Periodic Client Reviews

Start Slideshow My insurance agent loves the Panera Bread restaurant chain. Since we are friends, we meet for lunch once a month. This time, he brought our files under his arm. It was time for our annual policy review. Giving this kind of attention to clients delivers many positive benefits.  Meeting in person from time to time solidifies relationships and can help you grow your business. For nine ways in-person meetings can help you bond with clients, see the gallery above. Credit: Charnchai saeheng/Adobe Stock Start Slideshow

Canadians recognize the importance of preventative health care, but many are not seeking the care they need: Blue Cross® Health Study 0

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Canadians recognize the importance of preventative health care, but many are not seeking the care they need: Blue Cross® Health Study

National study reveals that perceived limitations and barriers are preventing 48 per cent of Canadians from seeking care Saskatoon, SK (Sept. 28, 2024) – A new study from Blue Cross suggests that Canadians are making lifestyle changes to better their health and have a solid understanding of the importance of preventative health strategies. But there is also a catch – nearly half (48 per cent) are not seeking the help they need from health professionals due to perceived limitations or barriers. “Canadians understand the benefits of preventative care, namely for improving their quality of life, and acknowledge that daily habits play a critical role in supporting health,” says Tim Bishop, Managing Director, Blue Cross of Canada. “However, many Canadians are not taking advantage of the available health services to complement their healthy habits.” According to the study, most Canadians (72 per cent) have tried to improve their health or fitness in the past 12 months by taking their health into their owns hands: eating a nutritious and balanced diet (69 per cent) and exercising regularly (67 per cent) were listed as the two most important preventative health measures. Younger generations are also particularly committed to improving their health: 84 per...

Laying Groundwork to Combat Cyber Threats To The Construction Industry 0

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Laying Groundwork to Combat Cyber Threats To The Construction Industry

By Corvus Insurance — Based on Corvus’s Threat Intel team data, the frequency of ransomware attacks on the construction industry increased 48% from 2022 to 2023. Encryption software firm NordLocker, in its latest report on cyber attacks, ranked construction as the number-one most-targeted industry. This post will spotlight why construction firms are especially vulnerable and what they face today based on data from our Threat Intel findings. We’ll also look at what construction firms are doing right and how they can further safeguard against cyber risks. Technological progress fans cyber flames The construction sector, essential to the growth and maintenance of global infrastructure, is facing urgent cybersecurity challenges. Much is at risk: Financial accounts, business-sensitive information, and the intellectual property and data of employees and projects. At the crossroads of cybersecurity risk and technological progress, the industry is experiencing sophisticated ransomware assaults interrupting operations and data breaches compromising critical project information. The increasing use of Internet of Things (IoT) devices, such as connected sensors, drones, and wearable technology, introduces new cybersecurity threats. Many construction businesses have also adopted operational technologies such as supervisory control and data acquisition (SCADA) networks, building information modeling systems (BIMs), machine learning, and robotics, further expanding...

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New Orleans, DOJ Move to End Police Department’s Consent Decree

Article 0 Comments NEW ORLEANS (AP) — New Orleans and the U.S. Department of Justice filed a motion Friday in federal court to take steps to end long-standing federal oversight of the city’s police department. The city and the federal government had agreed to a reform pact for the New Orleans Police Department known as a consent decree in 2013, two years after a Department of Justice investigation found evidence of racial bias and misconduct from the city’s police. The Justice Department had found in 2011 that New Orleans police used deadly force without justification, repeatedly made unconstitutional arrests and engaged in racial profiling. Officer-involved shootings and in-custody deaths were “investigated inadequately or not at all” the Justice Department said. If U.S. District Judge Susie Morgan of the Eastern District of Louisiana approves the motion, the city and its police department will have two more years under federal oversight to show they are complying with reform measures enacted during the consent decree before it is lifted. “Today’s filing recognizes the significant progress the City of New Orleans and the New Orleans Police Department have made to ensure constitutional and fair policing,” said Assistant Attorney General Kristen Clarke of the Justice...

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Early Lessons From Helene Show Catastrophes Are Here to Stay, Flood Insurance Vital

Article 0 Comments Hurricane Helene made landfall late Thursday, Sept. 26, in the Florida Big Bend, a sparsely-populated 150-mile coastal stretch from Apalachee Bay, south of Tallahassee, to Waccasassa Bay in the south. All told, the population of the area amounts to less than one percent of Florida’s population. But instead of attenuating after landfall, like most storms do, Helene barreled 100 miles across the panhandle and into Georgia and North Carolina, pelting the more populous Valdosta, Atlanta and Asheville. Across the destruction path, reports are that millions are without power and 64 people are dead. In North and South Carolina, more than a million Duke Energy customers were without power Friday afternoon. Eastern Tennessee and Western North Carolina in particular are devastated. Governor Bill Lee in Tennessee, who surveyed initial damage with state and federal officials, said damage assessments will take time. In Florida, if Helene bore to the west before making landfall, the destruction to Tallahassee (the population, including the metropolitan area, is approximately 400,000) would have been in the tens of billions of dollars. If Helene had turned east prior to landfall, it could have caused incalculable damage to Tampa, St. Petersburg and Sarasota. After all, the...

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4 Big Takeaways From a Year of Podcasting

This is the latest in a series of columns about Social Security and retirement income planning. It’s been nearly a year since I started hosting ThinkAdvisor’s podcast series on all things retirement. In that time, we’ve recorded more than 20 episodes of “Ask the Retirement Expert.” I’ve spoken with diverse thinkers, instructors and specialists about the many countervailing issues shaping retirement today. Topics have included Social Security claiming, helping clients plan for a fulfilling lifestyle in retirement, the evolving role of annuities, how inflation and changes to the tax code impact retirees and much more. The guests have ranged from voting members of the Federal Open Market Committee to professors at major universities and executives at some of the leading financial services firms here in the United States. In this month’s column, I spotlight some of my biggest takeaways from a year of podcasting about retirement. While I can’t speak to every episode here, I would still encourage readers to go back and listen through the full series catalog. Doing so will give any retirement-focused advisor some food for thought. Many of the episodes would also be appropriate to share with clients who are themselves grappling with the big questions about retirement,...