Insurable Interest Canadian Insurance Blog

Jan. 23–Detroit Tigers first baseman Miguel Cabrera’s off-field fiasco has finally come to an end as a Florida judge has ordered him to pay $20,000 a month in child support to an ex-mistress he fathered two children with and pay off her nearly $1-million mansion by July. According to Florida court documents obtained by the Free Press, the Detroit slugger must pay for health care, private tuition, day care, extra-curricular activities, vacations and $5-million life insurance policies for the two children.This is on top of the $20,000 a month he will pay their mother, Belkis Rodriguez, who lives in a gated community in Orlando with the children. Cabrera must also pay for the woman’s attorney fees. Cabrera’s lawyer was not readily available for comment. Rodriguez’s lawyer, Terry Young, declined comment. The judge’s order follows a trial that was held in Orange County Circuit Court, where Rodriguez sued the millionaire baseball player in 2017 for $100,000 a month in child support in an explosive lawsuit that outed their affair. It also revealed the two children he fathered with her. The boy is now 6; the girl 3. Both of them will also get vacations equal to what the children Cabrera has...

Nurse tells LHP about cause of region’s high infection rate and new initiatives that hope to address problem

The segment’s growth story is expected to persist in 2019 thanks to new tailwinds

A new report also sheds light on developing trends in impaired driving and substance use

The Milwaukee Brewers ballpark will be renamed when MillerCoors’ naming rights expire following the 2020 season. MillerCoors says the rights to Miller Park will go to American Family Insurance beginning in 2021. MILWAUKEE (AP) — The home of the Milwaukee Brewers will be renamed when MillerCoors’ naming rights expire following the 2020 season. MillerCoors said in a statement Tuesday the rights to Miller Park will go to American Family Insurance beginning in 2021. MillerCoors said American Family proactively pitched the Brewers “an incredibly rich offer” for future naming rights to the ballpark. The Brewers scheduled an afternoon news conference Tuesday to make what the club says is a “major business announcement.” Miller Park, with its convertible roof, was opened in 2001 and replaced Milwaukee County Stadium. More AP MLB: https://apnews.com/MLB and https://twitter.com/AP_Sports The post Brewers Sign Ballpark Naming Rights Deal With American Family Insurance appeared first on InsuranceNewsNet.

Courtesy of LIMRA Reports In 2019, LIMRA is expecting U.S. individual life insurance sales to rise 3 percent to $15 billion. This growth will be primarily driven by gains in disposable income and bond rates, coupled with low unemployment. For the past decade, indexed universal life (IUL) has been the success story of the individual insurance market, with annualized premiums increasing each year due to low interest rates and a strong stock market. While LIMRA still expects IUL growth in 2019, the driving forces of that growth will change. LIMRA expects equity markets to slow, but interest rates will continue to rise. In regards to technology, LIMRA predicts artificial intelligence (AI) to grow both in the number of companies utilizing it and in its range of applications. While many companies are already using this technology via chatbots and automated underwriting, a large percentage of executives see AI as being extremely important to business in the next three years. AI is a natural extension of predictive modeling building and companies will look to technology to utilize their vast amount of data and to enhance the existing stills of data scientists. According to LIMRA, this year will also see an increase in...

AmeriServ Financial reported fourth quarter 2018 net income of $1,928,000, or $0.11 per diluted common share. This earnings performance represented an increase of $2.9 million, or 294%, from the fourth quarter of 2017 when the Company reported a net loss of $995,000, or ($0.05) per diluted common share.  For the year ended December 31, 2018, the Company reported net income of $7,768,000, or $0.43 per diluted common share. This represents 139% growth in earnings per share from the full year of 2017 where net income totaled $3,293,000, or $0.18 per diluted common share.  The Company’s return on average equity improved to 8.08% for the 2018 year from 3.42% in 2017. As previously disclosed, the Company’s fourth quarter 2017 performance was impacted by an income tax charge of $2.6 million related to corporate income tax reform which necessitated the revaluation of the Company’s deferred tax asset because of the new lower corporate tax rate.  This additional income tax expense negatively impacted diluted earnings per share by $0.14 for both the fourth quarter and full year of 2017. The following table highlights the Company’s financial performance for both the three and twelve month periods ended December 31, 2018 and 2017: Fourth Quarter...

CIBC Asset Management today introduced CIBC Smart Investment Solutions – five new portfolios that take into account client goals, life stage and risk profile.

CI Investments today launched CI Mosaic ETF Portfolios. The company says this investment solution “blends the benefits of exchange-traded funds with the accessibility of a mutual fund structure.”

Despite projected overall profits of a record $7.1 billion for the investment industry last year, the number of independent investment dealers in Canada is expected to drop in 2019, says the president of the Investment Industry Association of Canada (IIAC).