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Preparing for Medicare Changes in the New Year

Advisor tip: Ensure your clients are aware of their total premium cost for 2025, including the increased Part B and Part D premiums. 2. Medicare Part B Premium Adjustments: What’s changing? Premiums for Medicare Part B outpatient and physician services coverage will adjust for inflation. The surcharge known as the income-related monthly adjustment amount, or IRMAA, will apply to higher-income beneficiaries. The IRMAA adjustment tier for 2025 premiums will be based on beneficiaries’ modified adjusted gross income for 2023. What it means for beneficiaries: Inflation-based adjustments to IRMAA brackets could shift some beneficiaries into different IRMAA tiers. Advisor tip: Help clients understand their MAGI calculation and appeal IRMAA surcharges if their income was temporarily elevated in 2023 due to unusual life events, such as a retirement or a one-time capital gain. 3. Additional Benefits Under the Inflation Reduction Act: What’s changing? Free vaccines recommended by the Advisory Committee on Immunization Practices and caps on annual Medicare Part D prescription drug plan premium increases will take effect. What it means for beneficiaries: Reduced costs for preventive care and predictable premiums. Advisor tip: Educate clients about these benefits and encourage them to utilize preventive services. Broader Considerations And Looking Ahead While the...

Blink Parametric Launches Flight Disruption ‘FlyEasy’ travel proposition with Zurich Indonesia and Zurich Edge 0

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Blink Parametric Launches Flight Disruption ‘FlyEasy’ travel proposition with Zurich Indonesia and Zurich Edge

‘FlyEasy’ parametric cover is now available on Zurich Indonesia’s Travel Product: offering real-time lounge access for delayed flights This expansion is part of the agreement signed in January 2024 to offer this award-winning flight delay solution to Zurich’s customers across Asia Pacific via the Zurich Edge Platform Cork, Ireland (Dec. 19, 2024) – Blink Parametric is pleased to announce that its flight disruption assistance solution is now available as ‘FlyEasy’ coverage on the Zurich Indonesia direct channel via the Zurich Edge platform. Leveraging parametric technology, the proposition has been designed to instantly activate coverage benefits upon confirmation of a flight delay. This seamless, fully-digital approach provides ultimate convenience to customers, relieving them of traditional claims processes and allowing them to enjoy their travels with greater peace of mind. This integration is the second rollout this year under the framework agreement to offer Blink Parametric solutions to Zurich Asia Pacific network partners and customers across Singapore, Hong Kong, Malaysia, Indonesia and Japan. The first was with Singapore-based OTA Klook in March. Once a customer registers their flight details pre-travel, Blink Parametric monitors that flight in real-time. In the event of a flight delay of two-hours, the customer will automatically be offered...

Team Of Silicon Valley Veterans Launch Stand Insurance, Using Physics-Driven AI To Insure The World’s Climate-Impacted Properties 0

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Team Of Silicon Valley Veterans Launch Stand Insurance, Using Physics-Driven AI To Insure The World’s Climate-Impacted Properties

After raising $30 million, Stand launches first product: California homeowners insurance that insures and fortifies properties to be resilient to wildfire San Francisco, CA (Dec. 16, 2024) – Stand, the company reimagining insurance for climate-impacted properties, is pleased to announce the launch of its debut product: California homeowners insurance that insures and fortifies properties to be resilient to wildfire. Founded earlier this year, Stand is emerging from stealth with a world-class team, the backing of top-tier reinsurers, an AM Best A- Rating, and $30M in funding from Inspired Capital, Lowercarbon, Equal Ventures & Convective Capital. With this foundation, the company is poised to write over $2B in home coverage within its first year. It is no secret that the insurance market is in a climate crisis. Amidst the 4th worst fire season in California history, insurers are leaving large geographies to avoid fire risk. Many homeowners are now under-insured, self-insured, or on government plans of last resort. The problem is not unique to wildfire: nearly half of all homes ($22 trillion worth) in the U.S. are at severe or extreme risk of damage from climate-driven events. Stand has re-thought insurance for this new era, offering a solution that protects property while...

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Viewpoint: Strategies for Brokers as M&A Slows and Insurance Rates Soften

Article 0 Comments The brokerage industry is adapting to a changing landscape as macroeconomic conditions temper the tailwinds that have driven growth in recent years. High interest rates, historical valuations, and tighter access to capital have slowed M&A activity, with deal flow declining nearly 20% in the first nine months of 2024 compared to the same period in 2023. Meanwhile, moderating renewal rate increases in the property & casualty market—a reliable driver of organic revenue growth—are further pressuring brokers to adopt new strategies. While these shifts create new challenges, they also present opportunities for brokerages to focus on margin expansion, activate new sources of growth, and invest in new capabilities and talent to navigate the evolving environment. Opportunities in a Shifting Market While still a highly favorable macroeconomic market for brokerage, M&A activity that flourished previously was fueled by easy access to affordable capital and robust cash flows. Simultaneously, organic growth was supported by a hardening rate environment and inflation-driven exposure increases, contributing to strong financial performance. Shareholder value, including that of financial sponsors and employees, benefited from more liquid capital markets and historically high valuation multiples, driving record transaction volumes. As these conditions moderate, brokers are navigating a more...

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Liz Ann Sonders: ‘Froth’ Is a Lousy Market Indicator

Investors can “put it in your back pocket as something to be mindful of. To the extent that there’s a negative catalyst, it does mean that there’s sort of money and attitudes on one side of the boat, but in and of itself, it doesn’t suggest a downturn. I think these rotations under the surface are likely to continue to characterize the market,” the strategist said. If mega-cap stocks continue to outpace the rest of the market, conditions could align “for something that looks like the first half of 2024, which at the index level you would’ve thought nothing to see here, nothing to worry about, successive new highs, but a lot more churn and weakness under the surface,” said Sonders, adding that this wouldn’t be a big surprise heading into 2025. For several months starting mid-July, the market saw a traditional improvement in breadth, with participation down the cap spectrum, “but now we’ve got that rotation back into the Magnificent Seven” mega-cap tech stocks, she noted. Investors may place a greater premium on the ability to grow earnings in 2025 than on profitability levels, which mattered significantly in the last year, Sonders suggested. Image: Bloomberg

Lockton Unveils New Global Parametric Insurance Practice 0

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Lockton Unveils New Global Parametric Insurance Practice

Lockton’s Global Parametric Insurance Practice is set to help businesses adopt cost-effective alternative risk solutions, addressing the widening gap between insured and uninsured losses Kansas City, MO (Dec. 12, 2024) – Lockton, the world’s largest independent insurance brokerage and people solutions consulting group, has announced the launch of its new Global Parametric Insurance Practice. This initiative brings together a team of experts, including data scientists and modelers, dedicated to developing efficient, customized parametric solutions to help clients protect against risks that traditional insurance often overlooks. “Over the past three years, Lockton has invested significantly in parametric expertise and resources across the U.S., Latin America, Europe, and Singapore,” said Diego Monsalve, Latin America and Caribbean Head of Risk Practices and International Head of Parametric Solutions. “This global team is uniquely positioned to address our clients’ risk management challenges through innovation, delivering the high-caliber solutions they’ve come to expect from Lockton. We are excited to support our clients as we move forward with this initiative.” As natural disasters such as hurricanes and wildfires increase in frequency and severity, and as new risks arise, including cyber threats and supply chain disruptions, the need for supplementary insurance solutions is growing. The parametric insurance market...

BrokerLink Wraps Up 2024 With Four More Acquisitions 0

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BrokerLink Wraps Up 2024 With Four More Acquisitions

Toronto, ON (Dec. 17, 2024) – BrokerLink is pleased to announce it is closing the year by welcoming four new acquisitions from Ontario and Alberta: Ontario Wide Insurance Solutions Inc. (“Ontario Wide Insurance”), Donnell Financial Services on November 1, Shuman Insurance LTD. (“Shuman Insurance”) and Assurances Robichaud Insurance (“Robichaud Insurance”), effective December 1. Growing our footprint in Ontario Since 2009, Ontario Wide Insurance has provided customers with personalized service for home, auto and business insurance. In addition, the brokerage offers solutions for trucking, cargo, professional liability and niche properties. Ontario Wide Insurance is passionate about giving back to their community and is a proud supporter of Halton Women’s Place. Robichaud Insurance has offered personalized home, auto and business insurance to the people of Northern Ontario since 1937. This Kapuskasing-based brokerage has also established a strong portfolio by specializing in insurance solutions for municipal and forestry industries. The brokerage is a dedicated supporter of several local charities and community events, including local minor hockey teams, chamber of commerce events and snowmobile clubs. Additionally, the acquisition of Donnell Financial Services in Burlington, Ontario enables BrokerLink to expand its service offerings and enhance its expertise to offer employee benefits solutions. Broadening our presence...

Billyard Insurance Group Recognized for Digital Innovation 0

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Billyard Insurance Group Recognized for Digital Innovation

Welland, ON (Dec. 10, 2024) – Billyard Insurance Group (BIG) is thrilled to announce that it has won the coveted Award for Digital Innovation in a Brokerage at the 2024 Insurance Business Canada Awards (IBCAs). This prestigious recognition underscores BIG’s commitment to pioneering technology solutions that not only drive operational excellence but also redefine the insurance experience for brokers and clients alike. Redefining Industry Standards with Precision The Award for Digital Innovation in a Brokerage is presented to brokerages that demonstrate exceptional leadership in leveraging cutting-edge technologies to improve broker performance, streamline operations, and enhance customer satisfaction. BIG was recognized for its groundbreaking underwriting platform, Precision, which has set a new benchmark in the industry for operational efficiency, accuracy, and innovation. Precision is a state-of-the-art platform powered by Artificial Intelligence (AI), Robotic Process Automation (RPA) and workflow automation. This platform analyzes insurance documents with remarkable accuracy, reducing human error and enhancing overall process efficiency. By automating routine tasks, Precision empowers BIG brokers to focus on what matters most—building stronger client and market relationships while driving business growth. The key benefits of Precision include: Reduced errors and omissions during the submission of new business, particularly in personal lines. Increased broker productivity,...

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Texas Economy Will Top France’s Thanks to Trump, Abbott Says

Article 0 Comments Texas Governor Greg Abbott has a new ambition for the Lone Star State: surpassing France as one of the world’s largest economies. Abbott predicted that economic output in Texas would soon exceed that of the struggling European nation thanks to booming investment and President-elect Donald Trump’s plans to slash regulations on oil, gas and other industries. “Texas is going to surpass France when the new numbers come out, and we will have the seventh-largest economy in the entire world,” Abbott told business leaders in Dallas last week. The Republican governor’s braggadocio is almost certainly premature, though it may one day prove justified. Output in the Lone Star State amounted to about $2.6 trillion in 2023, meaning it would have to surge about 17% to match France’s more than $3 trillion. With both entities predicted to grow moderately this year, France’s advantage is set to endure despite the euro’s approximately 5% decline against the dollar and recent political upheaval that has dented business confidence. But the economic outlook is deteriorating in France, where far-right leader Marine Le Pen toppled the previous prime minister over a budget dispute. Moody’s Ratings just cut the country’s credit grade, while private-sector business...

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E-Trade Plans Zero-Cost Funds That Only Platform Clients Can Buy

E-Trade is just one of many trading platform options investors have to choose from after a number of fintech firms arose to challenge the traditional brokerages over the past few years. A Morgan Stanley spokesperson declined to comment. The planned funds include the E*TRADE No Fee Large Cap Index Fund, the E*TRADE No Fee Total Market Index Fund, the E*TRADE No Fee International Index Fund, the E*TRADE No Fee Municipal Bond Index Fund and the E*TRADE No Fee U.S. Bond Index Fund. Fidelity’s line-up of no-fee funds has found an audience, with the Fidelity Zero Total Market Index Fund now commanding nearly $26 billion in assets. While it’s unclear if the free funds have managed to bring in new clients to the brokerage platform, that kind of growth is impressive in the indexing business, according to Morningstar Research Services. “Loss leaders induce people to come, stay, and be up- or cross-sold,” said Jeffrey Ptak, chief ratings officer at Morningstar Research Services. Credit: Bloomberg Copyright 2024 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.