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Weather Forecasters Predict ‘Extremely Active’ 2024 Atlantic Hurricane Season

Article 0 Comments Weather forecasters at Colorado State University (CSU) on Thursday predicted an “extremely active” 2024 Atlantic hurricane season because of warm sea surface temperatures and less wind shear to break up storms in the summer and fall. The widely watched CSU forecast calls for five major hurricanes, or those with winds above 111 miles per hour (178 kph), out of 11 total hurricanes that are part of a projection for 23 named storms. The forecasts are closely monitored by coastal communities and energy companies. The U.S. Gulf of Mexico accounts for 15% of total U.S. crude oil production and 5% of its dry natural gas production, and nearly 50% of the nation’s oil-refining capacity resides on its shores. “We anticipate a well above-average probability for major hurricanes making landfall along the continental United States coastline and in the Caribbean,” CSU said. An average hurricane season produces 14 named storms, of which seven lead to hurricanes and three become major cyclones. Last year, there were three major hurricanes that formed among seven hurricanes and 20 named storms, the fourth greatest number of named storms since 1950. The most damaging, Idalia, tore up the west coast of Florida and made...

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Get Lots More Unsolicited Referrals

What You Need to Know Most engaged clients provide referrals. Accessibility helps promote engagement. You could start with wine. Most advisors have had the occasional experience of receiving an unsolicited referral from a client or another professional. And any advisor would want to make that happen more often, but it appears random. It happened, but you don’t think you did anything special to make it happen. What if there was something special you could do that would drive many more of these to you? In a 2022 survey supervised by Julie Littlechild of Absolute Engagement, her team determined that 98% of “engaged” clients had referred at least one new prospect to their advisor during the course of the previous year. To get results like this from your clients, you need to understand how to turn them into “engaged” clients. Whether or not a client is engaged depends on how happy he or she is with your service, but, more importantly, how they feel about their experience as a client. That experience is the one factor that moves them from being merely satisfied to being raving fans. There are several factors that go into that experience, which starts with hearing about...

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Kansas Newspaper Seeks $10M Over Police Raids

Article 0 Comments TOPEKA, Kan. (AP) — A weekly central Kansas newspaper and its publisher filed a federal lawsuit Monday over police raids last summer of its offices and the publisher’s home, accusing local officials of trying to silence the paper and causing the death of the publisher’s 98-year-old mother. The lawsuit did not include a specific figure for potential damages. However, in a separate notice to local officials, the paper and its publisher said they believe they are due more than $10 million. The lawsuit from the Marion County Record’s parent company and Eric Meyer, its editor and publisher, accuses the city of Marion, the Marion County Commission and five current and former local officials of violating free press rights and the right to be free from unreasonable law enforcement searches guaranteed by the U.S. Constitution. The lawsuit also notified the defendants that Meyer and the newspaper plan to add other claims, including that officials wrongly caused the death of Meyer’s mother the day after the raids, which the lawsuit attributes to a stress-induced heart attack. The raids put Marion, a town of about 1,900 people set among rolling prairie hills about 150 miles (241 kilometers) southwest of Kansas...

Gig workers willing to risk not declaring their income, despite evolving tax reporting requirements for digital labour platforms: H&R Block survey 0

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Gig workers willing to risk not declaring their income, despite evolving tax reporting requirements for digital labour platforms: H&R Block survey

32% of Canadian Gig Workers Willing to Risk Not Declaring ‘Any’ Income; 43% Willing to Risk Not Declaring ‘All’ Income, Despite Evolving Tax Reporting Requirements for Digital Labour Platforms, Reveals New H&R Block Survey Around 9 million (28% of Canadians) report being part of the gig economy – H&R Block highlights tax considerations and benefits for gig workers 73% of Canadians say increased living costs make it hard to afford everyday expenses 24% struggle to make ends meet 58% of gig workers took on gig work due to increased cost-of-living 74% of gig workers say it’s a side hustle in addition to their primary employment 25% don’t have a clear understanding of the tax implications of gig work Calgary, AB (Mar. 20, 2024) – Whether it’s freelance or contract work, delivery or transportation services, homestay rentals, dog walking, home repair services, or selling products on marketplace platforms, a huge contingent of Canadians report taking on gig work to boost their income. In a recent survey, 28% or nearly 9 million Canadians said they’ve taken on a side hustle, up from just 13% reported in 2022, and a further 12% are currently considering it, to help make ends meet in these...

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iCapital Scoops Up Mirador

Alternative-investments platform providor iCapital says it is acquiring Mirador, which focuses on investment data aggregation and financial reporting. As part of the deal, over 180 Mirador employees are expected to join iCapital, which has 1,200 staff members and works with nearly $181 billion in platform assets worldwide. The acquisition means iCapital can expand its data management and reporting capabilities to create a “more enhanced technology experience” for clients in the wealth management, family office, endowment and foundation segments, the companies said. Terms of the agreement were not disclosed. “Mirador has set the industry standard for managing data with leading third-party performance reporting providers,” iCapital Chairman and CEO Lawrence Calcano explained in a statement. “This acquisition further enhances and broadens the service model iCapital delivers through our market-leading alternative investment operating system and allows us to deliver on our goal of creating a reliable end-to-end data management capability for the industry,” Calcano added.

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People Moves: Tokio Marine HCC CPLG Names New VPs and Head of Emerging Markets

Article 0 Comments Tokio Marine HCC – Cyber & Professional Lines Group (CPLG), a member of the Tokio Marine HCC group of companies based in Houston, Texas, named two new vice presidents and a head of emerging markets. CPLG appointed Patrick Gallic as head of emerging markets. Gallic previously served as a business innovation specialist at CPLG, a product manager at Verizon and as vice president, head of analytics and reporting at AIG. The company promoted Tamara Ashjian to vice president of cyber and tech claims. Before joining CPLG as a claims manager, Ashjian served as a claims manager at NAS Financial Services, vice president at Ironshore Environmental and vice president at AIG. Kevin Miyagishima was promoted to vice president of business intelligence. Before joining CPLG as senior manager, business analytics, Miyagishima served as senior business intelligence analyst at Gannett – USA Today Network and senior business intelligence analyst at AT&T. Topics Trends 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....

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Zinnia Closes on Business That Includes AnnuityNet

A unit of the same company that owns Security Benefit and Policygenius, and that has a big minority stake in the parent of The Hollywood Reporter, is now a top annuity distribution infrastructure player. Zinnia, a company controlled by Eldridge Industries, said Monday that it has closed on the purchase of AnnuityNet and other life and annuity technology businesses from Ebix. AnnuityNet was a pioneer in annuity distribution technology. It continues to dominate that market, along with iPipeline and Hexure. Operations at AnnuityNet and its siblings “will be uninterrupted for customers and partners, providing continuity for the life insurance and annuity ecosystem,” Zinnia said. Zinnia has put the 770 employees who came over from Ebix via a new Life and Annuity Exchange Solutions division. What the deal means: Zinnia said it aims to build “modern rails” for the insurance industry. It is part of Eldridge is a Greenwich, Connecticut-based conglomerate. It bought Security Benefit, an annuity issuer, in 2017, then turned Security Benefit’s technology arm, SE2, into a separate company. SE2 changed its name to Zinnia in 2022. Eldridge may be best known for its 40% stake in Penske Media, the publisher of Variety, Billboard and The Hollywood Reporter.

Term insurance from India emerges as preferred choice for NRIs seeking customization and convenience 0

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Term insurance from India emerges as preferred choice for NRIs seeking customization and convenience

New York, NY (Mar. 29, 2024) – Policybazaar, India’s leading online insurance marketplace, is witnessing a significant increase in non-resident Indians (NRIs) choosing term insurance from India via its platform. This surge is driven by the unparalleled ease, benefits and accessibility offered by the Indian insurance market. While several factors contribute to the growing interest in term insurance in India, large covers with longer coverage stand out as primary reasons. The demand among the 18-60 age group has seen an impressive 130% year-on-year growth, with India emerging as the preferred choice for NRIs residing in the US, Canada, and select European countries. The surge in demand from NRIs can be credited to several standout features and benefits. Term policies from India that offer coverage of up to INR 5 crores or ~665K USD can be easily obtained with tele-medical check-ups from India, eliminating the need for physical visits. Unlike some countries with restricted policy terms and coverage, Indian term plans offer coverage for longer duration, extending upto 99 years. Sarbvir Singh, Joint Group CEO, Policybazaar, says, “We are witnessing exponential growth in term insurance purchases from NRIs, particularly from the US, Canada and the Europe. Policybazaar has focused its efforts...

Critical Gap in Creditor Life Insurance Coverage Among Canadian Homeowners: CAFII Study 0

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Critical Gap in Creditor Life Insurance Coverage Among Canadian Homeowners: CAFII Study

Toronto, ON (Mar. 20, 2024) – New research conducted by LIMRA on behalf of the Canadian Association of Financial Institutions in Insurance (CAFII), sheds light on the insurance landscape among Canadian homeowners. The study’s primary objective was to reveal the prevalence of insurance products, with a particular focus on Credit Protection Insurance (CPI), among homeowners. The results have raised significant concerns about the financial security of numerous Canadian families. The report set out to address pivotal questions regarding the insurance environment among Canadian homeowners. It sought to ascertain whether individuals with lower incomes prioritize credit protection insurance (CPI) over others and whether CPI plays a significant role in the market for homeowners. The study surveyed 1,175 Canadian homeowners, placing a specific emphasis on those with mortgages or home equity lines of credit (HELOCs). This comprehensive survey explored various aspects, including insurance ownership, financial attitudes, coverage, and demographic factors. Key Findings: Uninsured or Underinsured Homeowners: The study found a concerning trend among Canadian homeowners: a significant 80% lack sufficient insurance coverage, being either uninsured or underinsured with CPI or traditional life insurance. This shortfall in coverage leaves many families inadequately protected against unforeseen life events. Underinsured is defined by FCAC as...

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New $20 Minimum Wage for Fast Food Workers in California Began Monday

Article 0 Comments Most fast food workers in California will be paid at least $20 an hour began Monday, when a new law kicked in giving more financial security to an historically low-paying profession while threatening to raise prices in a state already known for its high cost of living. Democrats in the state Legislature passed the law last year in part as an acknowledgement that many of the more than 500,000 people who work in fast food restaurants are not teenagers earning some spending money, but adults working to support their families. That includes immigrants like Ingrid Vilorio, who said she started working at a McDonald’s shortly after arriving in the United States in 2019. Fast food was her full-time job until last year. Now, she works about eight hours per week at a Jack in the Box while working other jobs. “The $20 raise is great. I wish this would have come sooner,” Vilorio said through a translator. “Because I would not have been looking for so many other jobs in different places.” The law was supported by the trade association representing fast food franchise owners. But since it passed, many franchise owners have bemoaned the impact the...