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IBAO Releases New Foundational eLearning Course on the Ontario Auto Product 0

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IBAO Releases New Foundational eLearning Course on the Ontario Auto Product

The first course of a new line of education—IBAO Fundamentals—that guides brokers into new and familiar areas of insurance from the ground up Toronto, ON (Aug. 3, 2023) – The Insurance Brokers Association of Ontario (IBAO) has released a new eLearning course, Auto Foundations: SABS for Personal and Commercial Lines Brokers. The two-part course covers technical content, risk management and client considerations through a modern, learner-centric experience. “This Statutory Accident Benefits (SABS) course is foundational, meaning individuals can come into it with minimal experience on the topic—ideal for brokers who have recently obtained their RIBO Level 1 License and are working with Personal Lines clients,” said Kevin O’Hare, Education Manager & Lead Instructional Designer. “It covers the transition to more complicated Commercial Lines clients. By the end of the course, brokers will be better positioned to educate their clients and have confidence offering optional benefits for Ontario Auto insurance.” The course is structured in two sections, with workbooks to track key take-aways, assessments to test knowledge and printable summary pages for retention. The first section—delivered by Jo Anne Mitchell, CIP, from Effective Training & Communications Plus—dives into technical personal lines content, explaining how each Ontario Auto benefit works, its limits,...

Drag Performers and LGBTQ+ Advocates Sue to Block Texas Law Expanding Ban on Sexual Performances 0

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Drag Performers and LGBTQ+ Advocates Sue to Block Texas Law Expanding Ban on Sexual Performances

Article 0 Comments AUSTIN, Texas (AP) – A group of drag performers and LGBTQ+ rights advocates have filed a federal lawsuit seeking to block a new Texas law that expands what is considered an illegal public performance of sexual conduct, arguing it is meant to target drag shows and could also criminalize ballet and even cheerleading. The lawsuit, filed Wednesday in U.S. district court in Houston by the American Civil Liberties Union on behalf of plaintiffs, contends that the law is unconstitutional and threatens the “livelihood and free expression of many Texans, including drag performers across our state.” It seeks to block the from taking effect Sept. 1. The law approved by the Republican-controlled Legislature was part of a broader effort in Texas and other conservative states to crack down on drag shows and limit LGBTQ rights. Such laws have already run into trouble in other states, including Florida and Tennessee, where judges put drag performance bans on hold. Like Texas, Arkansas has a new law regulating adult-oriented performance that doesn’t mention drag specifically but has raised concerns that it would be applied to drag performances. And Montana has a ban in effect that targets drag queen story hours, specifically....

Poorly Designed Railroad Crossing in Rural Missouri Contributed to Fatal Amtrak Derailment, Investigators Find 0

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Poorly Designed Railroad Crossing in Rural Missouri Contributed to Fatal Amtrak Derailment, Investigators Find

Article 0 Comments A dump truck driver last year may have never seen an oncoming Amtrak train before it was too late, federal investigators concluded in a report, finding that a steep, poorly designed railroad crossing in rural Missouri contributed to last year’s fatal Amtrak derailment that killed four people and injured 146 others. The National Transportation Safety Board said Wednesday that the 45-degree angle where the road crossed the tracks made it hard for the dump truck driver to see the approaching train, and the steep approach discouraged the truck driver from stopping beforehand. “The safest rail grade crossing is no rail grade crossing. But at the very least, every road-rail intersection should have an adequate design to ensure proper visibility so drivers can see oncoming trains,” NTSB Chair Jennifer Homendy said. “Communities across the country deserve safer crossings so these types of accidents don’t happen again.” The NTSB said the dump truck driver ignored a stop sign before continuing through the crossing near Mendon at a speed of about 5 mph (8 kph). The train was only able to slow 2 mph to 87 mph (140 kph) after the crew saw the truck approaching and slammed on the...

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Wells Fargo Customers Deposits Disappeared, Customers Say

Wells Fargo customers turned to social media Thursday to report that recent deposits are missing from their accounts at the bank. Downdetector, an online platform where consumers can report troubles with mobile apps, websites and internet providers, indicated 81 reports about Wells Fargo around 1:40 p.m. Eastern time, versus a baseline of four. In comments beneath Downdetector’s chart, people said checks they had deposited at Wells Fargo on Wednesday, in a branch and through a mobile app, had disappeared by this morning. One commenter noted he had bills to pay, many on autopay. Another indicated they’d called customer service and the bank was having a technical issue. Customers also complained about their Wells Fargo accounts and missing deposits on X, the social media site formerly known as Twitter. One posted shortly before 1 p.m. EDT that Wells Fargo was aware of the problem and didn’t know when it would be fixed, and noted she doesn’t “have enough cushion for them to lose a $2K deposit when rent is due.” The bank’s customer care account on X replied: “Sorry for the inconvenience, our technical teams are aware and working to resolve the issue. Please DM us your full name, phone number,...

Wawanesa announces sale of U.S. subsidiary 0

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Wawanesa announces sale of U.S. subsidiary

Auto club to acquire the U.S. subsidiary of Wawanesa mutual in a transaction beneficial to both insurers and their respective members Winnipeg, MB (Aug. 1, 2023) – The Wawanesa Mutual Insurance Company (Wawanesa Mutual) is pleased to announce that it has entered into a definitive agreement to sell Wawanesa General Insurance Company (Wawanesa General), its U.S. subsidiary, to the Automobile Club of Southern California’s affiliated insurer, subject to regulatory approval and other customary closing conditions. “It’s the right time to focus our efforts on our home market in Canada, where we have operated for nearly 127 years,” said Jeff Goy, President and CEO of the Wawanesa Mutual Insurance Company. “We look forward to further strengthening the products and services we provide Canadian families and businesses, and to providing exceptional service to even more members across Canada.” “The acquisition presents a unique opportunity for the Auto Club to acquire a longstanding California-based insurance company that shares the Auto Club’s member-centric culture and focus on superior member satisfaction and competitive prices,” said John Boyle, President & CEO of the Auto Club. “We’re also excited about the opportunity to welcome Wawanesa General’s experienced and dedicated employees to the Auto Club family.” A leading...

Texas Policy Protects Big Polluters From Citizen Complaints 0

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Texas Policy Protects Big Polluters From Citizen Complaints

Article 0 Comments PORT LAVACA — On a rugged stretch of the Gulf Coast in Texas, environmental groups called foul in 2020 when an oil company sought pollution permits to expand its export terminal beside Lavaca Bay. Led by a coalition of local shrimpers and oystermen, the groups produced an analysis alleging that the company, Max Midstream, underrepresented expected emissions in order to avoid a more rigorous permitting process and stricter pollution control requirements. In its response, Max Midstream did not respond to those allegations. Instead, it cited what it characterized as the “quintessential one-mile test” by Texas’ environmental regulator, the Texas Commission on Environmental Quality, to claim that the groups and citizens involved had no right to bring forth a challenge because they lived more than 1 mile from the Seahawk Oil Terminal. “The well-established Commission precedent has been repeated again and again,” the lawyers wrote. “Based on the quintessential one-mile test relied upon by the Commission for decades, none of the Hearing Requests can be granted.” The TCEQ agreed, rejecting all hearing requests and issued the permit as initially proposed. But the agency says the 1-mile test cited by the company’s lawyers doesn’t exist. “The Commission has never...

AXA Launches Secure Generative AI For Employees 0

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AXA Launches Secure Generative AI For Employees

New York, NY (July 27, 2023) – AXA is pleased to announce the deployment of AXA Secure GPT, an internal service built on Microsoft’s Azure OpenAI Service. Developed in three months by AXA’s in-house experts leveraging AXA’s collaboration with Microsoft, AXA Secure GPT gives AXA employees access to a digital platform, in a secured and data-privacy compliant Cloud environment, and enables enterprise-wide use of the transformative technologies of Generative AI and Large Language Models. AXA employees will be able to use AXA Secure GPT to generate, summarize, translate, and correct texts, images, and codes. In its first stage, AXA Secure GPT has been made available to 1,000 employees of AXA Group Operations (AXA GO) with the aim being to roll out AXA Secure GPT to all 140 000 employees globally in the coming months. “As a responsible insurer, we are very proud to have developed a secured platform for our employees providing access to AI at large scale and leveraging innovative solutions to better serve our customers,” said Alexander Vollert, Group COO & CEO of AXA Group Operations. “AXA Secure GPT will soon be a tool for our day-to-day work. Use of open tools can lead to serious issues, including...

People Moves: Ryan Specialty Appoints Cornelli to Board of Directors 0

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People Moves: Ryan Specialty Appoints Cornelli to Board of Directors

Article 0 Comments Ryan Specialty Appoints Cornelli to Board of Directors Ryan Specialty Holdings, Inc., headquartered in Chicago, Ill., appointed Francesca Cornelli, dean of Northwestern University’s Kellogg School of Management, to its board of directors. She will serve as a member of its audit committee. Cornelli has been the dean of Kellogg School of Management since 2019. Previously, she was a professor of finance and deputy dean at London Business School. Cornelli directed and advanced the Private Equity Institute of London Business School and is a research fellow at the Center for Economic and Policy Research. She previously served as a director of the American Finance Association. In 2016, Cornelli helped create and became a board member of AFFECT, a committee of the American Finance Association designed to promote the advancement of women academics in finance. Cornelli also served on the Swiss Re International and Swiss Re Europe board from 2013 to 2019. 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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IRS to Digitally Process All Tax Returns by 2025

Taxpayers, of course, “will always have the choice to submit documents by paper,” Yellen said. By the 2025 filing season, the IRS “is committing to digitally process 100% of tax and information returns that are submitted by paper — as well as half of all paper correspondence, non-tax forms, and notice responses,” Yellen continued, as well as “digitalize historical documents that are currently in storage at the IRS.” The agency, according to Yellen, “receives about 200 million paper documents a year — many of which still undergo manual processing. It also has decades of historical documents that together cost around $40 million a year to store.” The paperless processing initiative will also unlock “other customer service improvements,” Yellen stated, allowing “taxpayers to see their documents, securely access their data, and save time and money.” Other parts of the IRS will be able to “rely on these digital copies to provide faster refunds, reduce errors in tax processing, and deliver a more seamless and responsive customer service experience. And much more,” Yellen continued. She urged Congress to provide stable and sufficient annual appropriations for the IRS in order to sustain and build on this progress. By the 2024 tax filing season, the IRS...

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3 Things to Know About a Coming Wealth Planning Trap

What You Need to Know The Corporate Transparency Act is supposed to take effect in 2024. It will require foreign national investors to report on their U.S. holdings. It could lead to big penalties for some and send others shopping for life insurance. The federal Corporate Transparency Act could soon snap cash out of the vaults of wealthy, poorly advised foreign nationals with large investments in the United States. Starting Jan. 1, 2024, the CTA will require U.S. companies to send reports about their real owners, or “underlying beneficial owners,” to the Internal Revenue Service. Companies that fail to file the reports will face fines of up to $500 per day. Caroline Brooks, head of advanced markets at John Hancock, predicted in an email interview earlier this week that the CTA will help the IRS detect criminal money laundering, efforts to support terrorism — and ordinary efforts to avoid paying U.S. estate taxes. “Today, there is massive underreporting of foreign estate tax due,” Brooks said. “In the past, the IRS had limited ability to determine what U.S. property was owned by foreign nationals or even to know when an underlying owner passed away.” What It Means Brooks, who has a...