Insurable Interest Canadian Insurance Blog

Some of the CFA Institute’s research is focusing on the ethical use of AI, which can help investment professionals enhance decision making and better understand their clients. “If you think about our code and standards, one is that you’re able to essentially show your work, defend how you made investment decisions,” Franklin said, adding that there’s a need to understand how generative AI is being used. “That introduces a different level of responsibility.” The AI theme could eventually be added into the curriculum, she said, but the effort is still in just in the research stage for now. The exam is always subject to changes. While climate and transition risks weren’t even a consideration a few years ago, about 15% of ESG considerations are now weaved throughout the exam, Franklin said. (Credit: Shutterstock)

“We might get one in 2025, but a year ago we said we might get one in 2024,” so either it’s way too early or “it ain’t going to happen. We’ll see,” he said. The unemployment rate is rising and payroll growth slowing, Doll noted, saying it’s possible that unemployment could hit 4.5% at year-end. “What the Fed has done, what the economy is doing, what consumers and businesses are doing will tell us” whether the slowdown is real and will lead to a soft perfect landing or a bumpier one, he said. Possible New Inflation Floor Doll also had predicted that the 2% to 3% inflation seen in the 2010s will become the 2% to 3% floor for the 2020s. “Our argument is the 2% Fed (inflation) target is going to be at least elusive. We’re not going to get there. Our longer-term view is inflation’s going to be closer to 3 (%) for this decade, having been closer to 2 the last decade, which is a big difference when you look at valuation for, obviously, stocks and bonds, among other things,” he said. Weaker Earnings? Crossmark is also doubtful about expectations for double-digit percentage earnings growth heading into...

But they came just as the Biden administration tightened payments to Medicare insurers and curbed tactics they used to boost revenue. The company also lost a huge contract to provide pharmacy benefits for insurer Centene Corp., which awarded the business to Cigna Group. The Caremark pharmacy benefits management business that Joyner led is under scrutiny from the Federal Trade Commission, which alleged CVS and its rivals drove up insulin prices. Congress is weighing new restrictions on PBM practices that could get a vote after the election. Joyner defended the business in front of a congressional panel earlier this year. Biggest Troubles The company’s biggest troubles are in the health benefits segment. CVS rapidly grew its Medicare Advantage rolls in 2024 with enticing benefits, but expenses for their care far outpaced projections and it’s poised to lose members next year. Runaway costs in the health benefits business prompted CVS to pull its forecast, already lowered multiple times this year. Almost two years ago, CVS told investors to expect adjusted earnings to be $9.75 to $9.95 a share in 2024. That company dropped that target over and over again, most recently to a range of $6.40 to $6.55 a share in August,...

“Using the funds and the proper trust, trustee and beneficiary design, you can empower your children, while using the wealth to encourage growth and learning,” Derousseau said. “It’s not meant to be a gift, but instead to help them understand how the wealth was built, how they can build it as well, and encourage proper investment of the funds.” In this context, early gifting can help ensure that children can focus on higher potential purposes — especially if family members are struggling to care for children or pay debts. “Or maybe it’s building a process for lending through a trust, so investments can be made in businesses or careers that build the family as a whole,” Derousseau suggested. “This will serve your children now, but also help strengthen the family as a whole in years to come when the money is in your children’s hands.” As for the younger generation, Derousseau continued, it’s important to understand and respect what it means to be a good beneficiary. “It’s not simply coming to your parents, looking for handouts,” he said. “Instead, it’s proving that you can be a good steward of the financial future of the family as a whole. If it’s...