Canada's #1 Blog for Life & Health Insurance Information
The bottom line from a planning perspective? “Talk to a tax professional,” the firm’s analysis concludes. “Many taxpayers will be affected by these changes in 2025 and beyond, so it’s important to be aware of these adjustments in order to plan ahead.” Credit: Shutterstock
A few ways that clients can increase their security include: Using two-factor authentication at login, like entering a passcode from a text in all financial applications that offer it. Being cautious when reacting to unsolicited requests for money or information. Using a password-keeper application to ensure the highest levels of security. A few ways that RIAs can increase security within their organizations include: Bring visibility to the state of fraud through educational materials or lunch and learns. Work with their bank to require dual approval at the company to release funds. Set up independent processes that establish trust, like appointing individuals to fraud prevention teams so they can work together to approve payments and flag irregular behavior. Working alongside their custodian and clearing firms, advisors can provide critical information about clients’ preferences to improve pattern detection and help limit the potential for fraudulent activity. If an advisor offers banking and lending services through a bank partner, they should feel empowered to speak with their bank and learn about the securities in place to protect their clients or businesses.
Why is the Pacific Northwest such a good fit for you? It’s because of the [wealth management] clients and the variety of workplace business relationships we have there. That brings me to our internal lead flow.
Article 0 Comments Pittsburgh Regional Transit (PRT) has reported it is responding to a ransomware attack that was first detected on December 19, a day when the rail service experienced temporary disruptions. Upon discovering the incident, PRT said it immediately launched an investigation, activated its cyber response team, notified law enforcement, and engaged third-party cybersecurity and data forensics experts. On December 23, it notified the public that the teams are working to determine if any information has been compromised. Transit services are currently operating as normal. However, some other rider services remain negatively impacted, including PRT’s Customer Service Center, which is temporarily unable to accept or process Senior and Kid’s ConnectCards. Topics Cyber 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 Cyber? Get automatic alerts for this topic.
Article 0 Comments Root has announced the availability of Root Insurance in Minnesota. The insurer now serves drivers in 35 states, extending its auto insurance offering to over 4 million registered drivers in Minnesota and covering more than three-quarters of the U.S. population. Root is coming off the first quarterly net income in the insurtech’s history. Root turned in a combined ratio of 91.1 in the third quarter. The company recorded third quarter net income of approximately $23 million. Root reported a 131% increase in new writings in Q3. Founded in 2015 and based in Columbus, Ohio, Root, Inc. is the parent company of Root Property & Casualty Insurance Company and Root Insurance Company. Topics Minnesota 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. The most important insurance news,in your inbox every business day. Get the insurance industry’s trusted newsletter
Article 0 Comments Congress is allocating more than $100 billion in emergency aid designed to address extensive damage caused by disasters after this week’s scramble to find consensus on a government spending bill. The money comes after back-to-back hurricanes — Helene and Milton — slammed into the southeastern United States this fall, leaving havoc in their wake. But the money would go to much more than just those two storms under the bill signed Saturday by President Joe Biden that keeps the federal government funded through March 14. Biden said in a statement that the bill “delivers the urgently needed disaster relief that I requested for recovering communities as well as the funds needed to rebuild the Francis Scott Key Bridge ” in Baltimore, which collapsed under the impact of a massive container ship that lost power and veered off course in March. The disaster funding looked set to pass earlier this week until President-elect Donald Trump issued new demands that tanked a compromise and threatened a pre-Christmas federal shutdown. A slimmed-down version cleared Congress early Saturday when Republicans abandoned Trump’s core request. Here’s a look at what’s in the bill for disaster relief and where the money will go:...
But there is disagreement over how far officials need to cut to reach that neutral level. Schmid has said a slower pace of rate cuts will allow officials to find out. “While I support dialing back the restrictiveness of policy, my preference would be to avoid outsized moves, especially given uncertainty over the eventual destination of policy and my desire to avoid contributing to financial market volatility,” Schmid said on Oct. 21.
Article 0 Comments What is the secret to an insurance claims experience that satisfies customers? For years, J.D. Power has conducted surveys and curated lists recognizing insurers that succeed at providing satisfactory claims experiences. Carrier Management recently asked claims leaders at two of the consistently higher-performing insurers to peel back the curtain and share what they’ve found works. Training Center, Task Forces Bolster Erie’s Commitment to Service At Erie Insurance, Cody Cook brings an actuarial background to his work in claims. Cook is the insurer’s senior vice president of claims—a role he began in 2020 after experience as an actuary led him to a decade-long leadership role in personal lines. Erie works with 14,000 independent agents at about 2,300 agencies across 12 states and Washington, D.C. This year, the company hit 7 million policies in force. The insurer consistently ranks highly on both the J.D. Power property and auto insurance claims satisfaction studies. The company notched the third highest score on the property claims list in 2024, for example, and second on the auto list in 2023. (The 2024 auto numbers had not been published as of press time.) Cook believes Erie has built its reputation as a company with...
Many also said they could improve their finances by paying down credit cards and increasing retirement savings. Feeling Financial Stress Forty-four percent of survey respondents reported feeling stress about finances, about the same levels as reported last year. Another 41% said they are more stressed this year, while just 16% said they are less stressed. Fifty-two percent of millennials reported feeling more stress this year, compared with 37% of Gen Xers and 23% of boomers. As to what is causing their financial stress, 54% of respondents put it down to the cost of day-to-day expenses, 49% said their income or retirement income is too low, 35% cited too small an emergency fund and 35% said too much debt is contributing to their financial stress. The survey found that a majority of Americans confess bad financial habits: 30% spend too much on things they do not need 28% do not save any money 27% save some money, but not as much as they could 23% are not paying down debt fast enough 21% spend more that they make Many Americans surveyed have a brighter outlook for their finances in the new year. Thirty-five percent of respondents expect their financial situation to...
The lawsuit was filed in Broward County, Florida, by Florence Grosch, a former Merrill financial advisor. In a complaint filed early in December, Grosch alleged that Merrill did not pay for all the overtime the FSAs and trainees logged beyond their stipulated 40-hour workweeks. Merrill Lynch has not yet responded to a request for comment, but case documents show a judge has approved the settlement agreement. Other stipulations include that Merrill Lynch has the right to recoup any funds that are either left over or left unclaimed by eligible advisors or trainees who do not wish to participate in the settlement agreement.
