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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,...

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People Moves: AXA XL Promotes Flanagan to Lead P&C Bermuda; Intangic Names Cryer as Dir. of Client Solutions; Dale Names Daniel Head of Global Property Reinsurance

Article 0 Comments This edition of International People Moves details appointments at AXA XL Bermuda, the MGA Intangic, and the Lloyd’s insurer Dale Underwriting Partners. A summary of these new hires follows here. AXA XL Promotes Flanagan to Head of P&C Bermuda AXA XL announced that Mark Flanagan has been appointed to the new role of head of Property & Casualty, Bermuda. Flanagan, who reports to Noel Pearman, chief underwriting officer, Bermuda within AXA XL’s Insurance business, has more than 20 years of underwriting experience, including the past 12 years with AXA XL. Mark Flanagan In the new role, his responsibilities include leading the Bermuda P&C underwriting team with a focus on growing the property line of business as well as developing and managing client relationships across both lines of business. In addition, he will lead a client-centric approach in providing consistent, innovative and customized solutions. Flanagan was formerly senior vice president, chief property underwriter/head of Property Bermuda at AXA XL. He holds a Master of Arts in Economics and Accounting from the University of Edinburgh in Scotland, a Master of Science in Energy & Fire Safety Engineering from Heriot Watt University in Edinburgh, and a Master of Business Administration...

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Louisiana Fortify Homes Program Doubles Grants as Registrants Surge

Article 0 Comments Louisiana Insurance Commissioner Tim Temple said the number of grants has doubled for the latest round of the Louisiana Fortify Homes Program due to high volume of registrants. Temple increased the number of grants this round from 300 to 600 after nearly 12,000 homeowners signed up for the lottery. Homeowners who were selected to participate in the program will receive grants of up to $10,000 to upgrade their roof to the Fortified standard. The LFHP notified registrants by email this week if they were selected to participate, placed on a waitlist, or not selected to participate during the randomization process. “The high level of engagement shows that Louisianans recognize the need to build more resiliently, but it also underscores how much work lies ahead,” said Temple. “Whether registrants were selected, their decision to participate will demonstrate to the legislature that we need to continue supporting the Louisiana Fortify Homes Program.” This round of grants was limited to residents of Louisiana’s Coastal Zone and of Lake Charles, Sulphur and Westlake. Topics Louisiana 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...

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Researchers Put Americans’ Retirement Literacy to the Test. The Results Weren’t Pretty.

Stakeholders across the financial services industry have put a lot of effort into improving the average American’s financial literacy in recent years, but the truth is that people continue to struggle with retirement income literacy. In fact, just one in five Americans earned a passing grade on a retirement quiz conducted recently by a team of researchers at the American College of Financial Services, and the average score was a paltry 31%. There are some positive signs to be found in the data, according to the researchers, such as the fact that Americans who are older and nearer retirement seem to have at least slightly better knowledge about key financial concepts related to retirement. There’s also good indication that people have a decent sense of their own knowledge levels, and that higher levels of educational and wealth attainment lead to higher levels of “retirement literacy.” So does working with an advisor, if only slightly. Earlier this year, I had the chance to sit down for a podcast interview with two of the academics behind the quiz: Eric Ludwig, director of the Center for Retirement Income and program director for the Retirement Income Certified Professional (RICP) program at the American College, and Kaylee...

Axis Insurance Acquires Baker Insurance 0

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Axis Insurance Acquires Baker Insurance

Axis Insurance Expands Calgary Operations with Acquisition of Baker Insurance Toronto, ON (Sept. 26, 2024) – Axis Insurance Managers Inc. (Axis Insurance) is excited to announce the acquisition of Baker Insurance, a respected property and casualty brokerage based in Calgary. This strategic move strengthens Axis’ presence in the region and enhances its ability to provide expert risk management solutions. Founded in 1976 and rebranded as Baker Insurance Ltd. following its acquisition by Ed Baker in 2006, the company has established a strong reputation for managing complex risks, specializing in both corporate and private asset insurance. The company provides expert risk management and consultancy services, including risk assessments, claims management, and comprehensive operational reviews. Additionally, Baker Insurance offers specialized insurance solutions such as surety bonds, and inland marine coverage. Ed and Colin Baker lead the commercial lines division, while Shelley and Tara focus on personal lines, ensuring comprehensive coverage across all client needs. Their expertise in handling difficult-to-place risks further enhances Axis’ capabilities. Axis Insurance is thrilled to welcome Baker Insurance into the team, expanding Axis’ national presence. Baker’s commitment to exceptional service and risk management aligns perfectly with Axis’ mission and values. Axis Insurance is an award-winning brokerage serving local,...

Quadient Secures Landmark Multi-Million Deal with Leading Global Insurer to Drive Customer Communications Transformation 0

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Quadient Secures Landmark Multi-Million Deal with Leading Global Insurer to Drive Customer Communications Transformation

CAD$9.8 million agreement over an initial period of 5 years includes the adoption of Quadient Inspire as a managed service Milford, CT (Sept. 24, 2023) – Quadient, a global automation platform powering secure and sustainable business connections, is pleased to announce a new €6.5-million deal with one of the world’s largest publicly traded property and casualty insurers. The multi-year agreement will see the US-based insurer adopt Quadient Inspire, Quadient’s award-winning Customer Communications Management (CCM) platform, as a cloud-hosted managed service, streamlining and optimizing customer communications across its global operations from one centralized platform. This global insurance leader operates in over 50 countries spanning all continents and was facing significant challenges in managing its vast array of customer communication templates, spread across a complex mix of legacy and home-grown systems. After an extensive multi-year evaluation process, the insurer selected Quadient among other vendors for its unparalleled expertise in handling large-scale, multi-regional deployments, the excellence of its CCM platform, and for its proven long-term commitment to its customers’ success. The adoption of Quadient Inspire will allow this insurer to consolidate nearly 70,000 communication templates and retire multiple legacy systems, ensuring the customer can rapidly respond to market changes and maintain compliance across...

Sun Life helps Canadian retirees transition their savings into income with new retirement solution 0

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Sun Life helps Canadian retirees transition their savings into income with new retirement solution

A first of its kind in Canada – an ‘all-in-one’ target age solution that simplifies retirement income Toronto, ON (Sept. 26, 2024) – Five million Canadians will turn 65 this decade and be one step closer to retirement. Today, Sun Life introduced Sun Life MyRetirement Income, an innovative first for Canadians that provides retirees with a reliable source of income, while maintaining flexibility and the potential for continued investment growth. This fully automated solution can help ease the transition from saving to drawing income in retirement. “With 40% of Canadians worried about outliving their savings, providing support and sustainable retirement income is essential,” says Eric Monteiro, Senior Vice-President of Group Retirement Services at Sun Life. “Retirement should be a time of relaxation and enjoyment, not financial stress. We knew we had to find a solution to simplify the process to make Canadians’ money last. Sun Life MyRetirement Income ushers in a new era of decumulation for Canadians.” Designed to be simple because retirement is complex This fully automated solution, designed in collaboration with Sun Life Global Investments, is an easy and flexible way to help Clients’ savings last to the age they want (‘maturity age’). Currently, no solution in Canada...

New research reveals AI is the biggest challenge facing digital health and wellness firms: Beazley 0

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New research reveals AI is the biggest challenge facing digital health and wellness firms: Beazley

92% of digital health and wellness companies in Canada are planning to use or increase their use of AI to diagnose or treat patients But 79% worry about trustworthiness; 79% about bias and 79% about theft of intellectual property London, UK (Sept. 25, 2024) – Beazley, the leading specialist insurer, is pleased to announce it  has published its latest Digital Health & Wellness 2024 report. The survey of 600 industry executives in six countries across Europe, North America and Asia revealed that as digital health and wellness businesses around the world ramp up adoption of artificial intelligence (AI), executive concerns over trustworthiness and bias are rising to the top of the agenda. To address this, digital health and wellness businesses and their insurers need to ensure the right protection is in place. However, Beazley’s research found under a third of Canadian businesses (30%) buy the essential tailored insurance covers that protect against bodily injury caused by a variety of technology-based drivers. Supply chain and recruitment issues are also key challenges facing Canadian digital health and wellness businesses as they strive to grow, with 30% and 30% reporting this respectively. By contrast, in 2022, only 17% and 16% globally identified supply...