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500K Vehicles Stolen in H1 2023; Dodge Chargers Top List

Article 0 Comments Vehicle thefts continue to plague the nation, according to a new report released by the National Insurance Crime Bureau (NICB). The report was released to coincide with National Crime Prevention Month. Nearly 500,000 vehicles were reported stolen nationwide in the first half of 2023, an increase of more than two percent compared to the first half of 2022. Illinois reported the largest increase in vehicle thefts of any state at 38%, followed by New York with a 20% increase and Ohio with a 15% increase over the first half of 2022. It’s important to note that law enforcement agencies may still be entering thefts for the first half of 2023, so these numbers may change, said the NICB. “Vehicle thefts increased to near-record highs in the United States last year, and unfortunately, current trends indicate total thefts this year may surpass 2022,” said NICB President and CEO David J. Glawe. “With little deterrent to stop these criminal actors, law enforcement agencies and communities will continue to suffer.” Analyzing data from the National Crime Information Center (NCIC), NICB’s report showed that between January and July 2023, there were more than 80,000 thefts per month, peaking in May when...

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Capital One Banking Customers Report Missing Deposits, Login Issues

Capital One customers turned to social media Friday to report problems with mobile and online banking, including missing deposits and an inability to log into the company’s mobile app. Outage monitoring website Downdetector indicated problem reports peaked at 250 in the afternoon. Users also posted complaints on Downdetector, including one who said a new loan hadn’t been instantly deposited on their debit card as expected and that a bill payment wasn’t reflected on the account. Others reported a Venmo transfer and an in-person cash deposit that hadn’t shown up in account activity. Complaints also landed on X, formerly Twitter, where one user posted that three “instant deposits” transferred to the account hadn’t appeared.

17 Best Financial Services Firms to Invest In: Morningstar 0

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17 Best Financial Services Firms to Invest In: Morningstar

Start Slideshow Morningstar’s 2023 edition of the best companies to own lists 17 firms in the financial services sector that stand out from their competitors and can be good choices for long-term investors. What makes for a best company to invest in? Margaret Giles, a Morningstar data journalist, writes in a recent blog post that the companies on the 2023 list have carved wide economic moats (a term coined by Warren Buffett, she notes) that enables them to keep their industry competitors at bay for a long time. Morningstar expects them to produce returns that outweigh their costs for the next 20 years or more. The strength of their competitive advantages is also either steady or increasing, which bolsters analysts’ confidence in their long-term growth. Giles writes that a company’s longevity and competitive advantage are inherently tied to sustainability, so Morningstar analysts take into account environmental, social and governance considerations. The best companies’ business models allow them to effectively navigate evolving ESG issues that could materially affect their business. The best companies on the list also have predictable cash flows, which helps analysts more accurately estimate how much the businesses are worth. These companies also make smart decisions about how...

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Social Security’s 2024 COLA, While Modest, Could Still Trigger Higher Taxes

A Difficult Policy Fix The Senior Citizens League advocates for adjusting these income thresholds to today’s dollars and continuing to do so annually — as is done for the rest of the tax code. As Johnson noted, the current thresholds for individuals mean that those with incomes between $25,000 and $34,000 may have to pay income tax on up to 50% of their benefits, while those earning above the $34,000 amount will see taxes assessed on 85% of benefits. According to Johnson, if the individual income thresholds were adjusted for inflation from 1984 to today’s dollars, then the individual filing status threshold of $25,000 would be about $75,000. The higher $34,000 threshold amount would be about $101,000. For couples, taxes kick in when income is between $32,000 and $44,000, at which level the couple may have to pay income tax on up to 50% of benefits. Above the $44,000 level, up to 85% of benefits may be taxable. If the joint filing status were adjusted for inflation from 1984 to today’s dollars, Johnson said, that $32,000 figure would be about $95,500, and the $44,000 threshold would be about $131,300. Obviously, changing the taxation of Social Security benefits is a complex task...

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Best & Worst Annuity and Life Insurance Providers: J.D. Power, 2023

Customer apathy toward annuities and life insurance is a perennial challenge for providers. Satisfaction is rising as more clients engage with digital tools and start using life insurance and annuities for financial planning, in addition to such final planning services as death benefits and burial insurance, according to a study released Thursday by J.D. Power. “Sales of life insurance enjoyed a brief surge in popularity during the height of the pandemic, while sales of annuities have more recently soared,” Breanne Armstrong, director of insurance intelligence at J.D. Power, said in a statement. “But outside of that, customer satisfaction and engagement have generally declined the longer customers hold onto these products.”  That is starting to change, Armstrong said.  “Customers who interact with the digital offerings of their providers are more engaged, have higher levels of satisfaction and are more likely to incorporate their life insurance and annuity products into their overall financial plans,” she said. The study is based on two surveys that J.D. Power conducted from May through July. One measured the satisfaction of 3,579 customers of the largest U.S. annuity companies on their performance in the same five key factors. The other looked at the satisfaction of 5,588 clients...

Peace Hills Insurance Joins Quotey Marketplace 0

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Peace Hills Insurance Joins Quotey Marketplace

Whitby, ON (Oct. 10, 2023) – Quotey is delighted to announce that it has expanded its commercial insurer marketplace to include Peace Hills General Insurance Company for its commercial lines products. Effective today, Peace Hills Insurance broker partners using the Quotey platform can instantly receive quotes for large segments of the contractor and construction businesses, ranging from electricians, painters and framers to builders, janitors, HVAC technicians and more. Peace Hills will dynamically quote a comprehensive range of coverage options to meet the needs of the construction and contractor industry. “Adding Peace Hills Insurance’s products to our marketplace is a huge win for our broker partners as it expands the number of high-quality insurers who will provide instant quotations for key segments of the industry,” said Quotey CEO and Co-Founder, Nick Kidd. “We’re really excited about bringing Peace Hills on board. Their products and pricing will enable Quotey users to find great value for money insurance for their clients in minutes, rather than days.” Contractor’s packages are the first of many Peace Hills products that will be available on Quotey throughout Western Canada and the Territories. Additional solutions for retailers, commercial realty and hair salons are expected to follow later this...

SkyWatch and Droneinsurance.com join forces to set the benchmark in digital Drone Insurance 0

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SkyWatch and Droneinsurance.com join forces to set the benchmark in digital Drone Insurance

Palo Alto, CA (Oct. 5, 2023) — SkyWatch, a leader in digital insurance for the aviation industry, is proud to announce the strategic acquisition of Droneinsurance.com’s assets. This collaboration brings together two innovative platforms, to offer clients a seamless experience with more options. It marks a significant milestone in the drone insurance sector and underlines SkyWatch’s commitment to providing unmatched coverage and service to drone operators across North America. Under the partnership, customers of Droneinsurance.com will now be seamlessly transitioned to the SkyWatch platform for their insurance needs. This move guarantees a smoother experience for Droneinsurance.com clients while opening up a new world of enhanced possibilities for coverage and support through SkyWatch’s comprehensive offerings. Existing Droneinsurance.com policyholders will continue to be handled by droneinsurance.com, ensuring they receive the same dedicated service they are accustomed to. Upon policy renewal, these policyholders will be offered the option to seamlessly transition to SkyWatch. SkyWatch’s array of insurance policies, including hourly, monthly, and annual options, cover a wide spectrum of drone operators — from small photography businesses to inspection services, drone deliveries, light shows, and beyond. With coverage available in all 50 U.S. states and Canada, SkyWatch has firmly established itself as a pioneer...

DKI CRCS Opens New Location in Peterborough, Ontario 0

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DKI CRCS Opens New Location in Peterborough, Ontario

Peterborough, ON (Oct. 5, 2023) — DKI Canada is pleased to announce the expansion of DKI – CRCS with its new Peterborough location. DKI – CRCS strategic outreach now encompasses the Durham region, culminating in the establishment of an additional branch in the Peterborough area. “We are excited to embark on this new journey with the opening of our Peterborough office,” said Ryan, Matt and Kyle Douglas, owners of DKI – CRCS. “This expansion represents a significant milestone in our company’s growth and reflects the dedication and hard work of our team. We look forward to building strong relationships with our new community and providing them with the same top-notch restoration services, that our existing customers have come to know and trust.” “The Peterborough community has always been a special place for our family, as Cris Douglas our founder and dad grew up in Peterborough. And to make it even more special, our grandmother was part of the Peterborough swim club, a team that won medals at the Pan-Am Games back in the 1950s. So, Peterborough and the nearby areas hold a special place in our family history, and the fact that we’re now expanding our business to serve this...

Navacord Expands its Underwriting Solutions Practice with Addition of Unity Managing Underwriters 0

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Navacord Expands its Underwriting Solutions Practice with Addition of Unity Managing Underwriters

Toronto, ON (Oct. 4, 2023) – Navacord is excited to announce their recent partnership with Unity Managing Underwriters Ltd., effective as of August 1. With roots dating back to 1997, Unity Managing Underwriters is based in Toronto and specializes in creditor, life, disability, and extended warranty products for personal and commercial vehicles. Unity is well-known for their work dealing with clients in the financial sector and automotive dealerships. “We’re confident that joining Navacord will enrich Unity’s product development while expanding our dynamic business mindset and model,” says Tony Guarini, Vice President, Unity Managing Underwriters. “Navacord’s well-established presence in the automotive space will lend well to our client offerings, and we look forward to further developing their MGA roster as well.” This move underscores Navacord’s ongoing commitment to enhancing their expertise and presence in the MGA space, an area that Canada’s fourth-largest commercial brokerage has been strategically focusing in since the formalization of their Underwriting Solutions department in 2022. “Our partnership with Unity Managing Underwriters is another step towards ensuring Navacord Broker Partners have access to best-in-class placements and products for their clients within our many industry sectors,” says T. Marshall Sadd, Executive Chairman, Navacord. “We welcome Unity to the Navacord...

First-in-Canada solution boosts rental affordability for tenants 0

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First-in-Canada solution boosts rental affordability for tenants

Aviva and RentHaven partner on new offering to market Toronto, ON (Oct. 4, 2023) – Aviva Canada is pleased to announce it has partnered with RentHaven Inc., a technology company that provides an exciting new alternative to large upfront security and last month’s rent deposits, to help lower costs and boost affordability for residential tenants – a first in Canada. The partnership aligns with Aviva Canada’s commitment to bring value through innovative solutions to partners. The RentHaven product† replaces traditional cash deposits with a bond guaranteed by Aviva. Through RentHaven’s technology platform, tenants pay only a small monthly fee, freeing up cash for things like buying furniture, RRSP contributions or other moving expenses. Landlords are fully protected and have a powerful tool for attracting renters and improving the tenant experience. “Many renters are straining under the pressure of rising rents and trying to keep up with inflation and the cost of living,” said Andy Armstrong, Head of Developer Surety & Home Warranty, Aviva Canada. “This first-of-its-kind partnership is the way of the future. We are making things easier for Canadians renting, they will no longer have to pay large upfront deposits and at the same time, protecting landlords from unpaid...