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ZestyAI Gains Michigan Approval

Article 0 Comments ZestyAI announced that the Michigan Department of Insurance and Financial Services has approved its severe convective storm suite. The approval comes as Michigan contends with rising weather-related insurance losses. According to NOAA’s National Centers for Environmental Information (NCEI), the state has experienced over $5 billion in insured storm damage since 2019, with hail and straight-line winds accounting for the majority of claims. In 2024, a series of intense summer storms alone caused more than $1.2 billion in insured losses. ZestyAI’s AI-driven platform predicts the likelihood and severity of claims from severe convective storms at the individual property level by analyzing the interaction of local climatology with property-specific characteristics, the company said. “As severe weather becomes more frequent and costly, insurers need tools that keep pace with evolving risks,” said Bryan Rehor, Director of Regulatory Affairs at ZestyAI. “This approval gives Michigan carriers access to precise, property-level insights that support smarter underwriting and help reduce preventable losses.” Michigan marks the 17th state to approve ZestyAI’s Severe Convective Storm suite. Topics Michigan 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...

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Texas House Advances Bill to Allow Homes on Smaller Lots

Article 0 Comments The Texas House gave a thumbs Wednesday to a bill allowing smaller homes on smaller lots in Texas’ biggest cities, part of a broad push by state lawmakers to put a dent in the state’s high home prices. But the House made significant tweaks that would limit how many new homes could be built under the bill, setting up a potential showdown with the Texas Senate over one of Lt. Gov. Dan Patrick’s biggest priorities. Senate Bill 15 would reduce how much land cities say single-family homes in new subdivisions must sit on. The idea is to let homebuilders construct homes on smaller amounts of land, thus reducing the overall price of the home. “This bill allows the option of building homes at different types and price points to meet the demand and needs of buyers,” state Rep. Gary Gates, a Richmond Republican who carried the bill in the House, said during initial debate on the bill Tuesday. “Lowering the size and type of residential housing will increase the amount of housing that can be built and lowers housing costs.” Initially, SB 15 would forbid major cities from requiring homes in new subdivisions to sit on more...

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Trump’s Tariffs to Remain in Effect After Appeals Court Grants Stay

Article 0 Comments A federal appeals court temporarily reinstated the most sweeping of President Donald Trump’s tariffs on Thursday, a day after a trade court had ruled Trump had exceeded his authority in imposing the duties and ordered an immediate block on them. The United States Court of Appeals for the Federal Circuit in Washington said it was pausing the lower court’s ruling to consider the government’s appeal, and ordered the plaintiffs in the cases to respond by June 5 and the administration by June 9. Wednesday’s surprise ruling by the U.S. Court of International Trade had threatened to kill or at least delay the imposition of Trump’s so-called Liberation Day tariffs on imports from most U.S. trading partners and additional tariffs on goods from Canada, Mexico and China. The latter was related to his accusation that the three countries were facilitating the flow of fentanyl into the U.S. The trade court’s three-judge panel ruled that the Constitution gave Congress, not the president, the power to levy taxes and tariffs, and that the president had exceeded his authority by invoking the International Emergency Economic Powers Act, a law intended to address threats during national emergencies. Senior Trump administration officials had...

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10 Ways to ‘Drip Market’ Without Being Annoying

/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.

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10 U.S. Cities With the Most Millionaires: 2025

/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.

Insuring electric vehicles: A growing opportunity with near-term challenges 0

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Insuring electric vehicles: A growing opportunity with near-term challenges

by Xin Dai & Roman Lechner, Swiss Re Institute — Electric vehicle (EV) sales are forecast to grow 30% annually up to 2030, and the market for EV insurance is growing rapidly with it. Estimates place the global market size at over USD 200 billion by 2030, versus USD 51 billion in 2022. EV driving behaviours, repair costs and vehicle risks are impacting underwriting profitability and may require closer links between carmakers and re/insurers. Highlights: Electric vehicle (EV) sales globally are forecast to grow 30% per year. EV adoption creates new insurance risk features due to changes in driving behaviours, usage, repairability and vehicle features. The EV insurance market is forecast for double-digit growth in the coming years but underwriting profitability is challenging. Despite high premiums, insurers saw combined ratios of over 100% for EV insurance in 2023. Deeper cooperation of EV insurers and carmakers may help to support better outcomes for all parties. Global sales of electric vehicles (EV) are growing fast and emerging as a new risk pool for the motor insurance industry. Close to 14 million EVs were sold globally in 2023, up 35% year-on-year and accounting for 18% of all car sales. Sales vary widely by country,...

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The Empathy Advantage: How Behavioral Finance is Reshaping Planning Conversations

You wouldn’t start a client relationship by asking how much money they have, so why start planning that way? The most effective financial plans aren’t built around numbers alone. They’re built around people: their values, motivations and the decision-making tendencies that shape their financial lives. That’s where behavioral finance comes in. In this webcast, we’ll explore how today’s leading advisors are applying behavioral insights to create more empathetic and personalized planning conversations. By understanding the “why” behind client behavior, you can improve communication, strengthen trust, and build plans that clients are more likely to stick with, even during times of market uncertainty. By attending this webcast, you’ll discover: • The core principles of behavioral finance and how they apply to planning conversations • How to identify behavioral patterns that influence client decisions • Practical ways to incorporate behavioral insights into your planning process at scale • How embedding behavioral tools directly into the planning workflow helps advisors apply insights in real time and create more personalized strategies Whether you’re refining your planning approach or looking to deepen client relationships, this session will offer actionable insights to put people at the center of your planning process. Speakers:  Dr. Daniel Crosby |...

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When Advice Matters the Most With Andrew Crowell

Financial planning professionals are called on to address a lot of challenges for their clients, from setting up a sustainable retirement income stream to helping people prepare for the high cost of their children’s college education. Those services are all of significant importance, but in the experience of Andrew Crowell, vice chairman of wealth management at D.A. Davidson, it is during life’s most difficult moments that advisors can provide the most value and peace of mind to their clients. Whether they are facing an unexpected death in the family or a fast-moving natural disaster, clients need both financial and emotional support, and they deeply appreciate advisors who can provide both. On this episode of the Ask the Retirement Expert podcast, Crowell joins ThinkAdvisor Senior Reporter John Manganaro to discuss the role advisors can play in helping clients navigate challenges both foreseen and unexpected. During the discussion, Crowell and Manganaro also cover: – The importance of advanced estate planning.– The economic outlook under a second Trump administration.– The behavioral side of retirement planning and more. To listen to additional podcasts within the Ask the Retirement Expert series, click here.

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12 U.S. Cities With the Highest Average Retirement Income

/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.

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Rehab Provider Resolves Discrimination Charge Following Employee Termination

Article 0 Comments Premiere Rehab (doing business as Infinity Rehab), a rehabilitation and therapy service provider with locations in 18 states, including Minnesota, has agreed to resolve a discrimination charge filed with the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. As a result of successful conciliation efforts between the parties, Infinity Rehab has agreed to provide monetary relief to the affected employee and to provide training for all employees and managers. During the COVID-19 pandemic, an employee who worked as an occupational therapy assistant for Infinity Rehab was placed into a third-party long-term care facility. The facility’s policies required all contracted staff working within the facility to be vaccinated against the COVID-19 virus. Pursuant to her religious beliefs, the employee requested an accommodation so she would not have to get the vaccine. While Infinity Rehab initially asserted it intended to accommodate the employee’s request, the third-party facility’s policies ultimately precluded them from providing the employee with an accommodation and she was terminated as a result. The EEOC’s investigation found that probable cause existed to believe Infinity Rehab, the staffing agency responsible for placing the employee in the third-party facility, engaged in an unfair discriminatory practice, and ultimately...