Insurance
Top stories summarized by our editors
8/15/2018

No advisor is too experienced to take notes, writes consultant Michael Goldberg, who lists note-taking along with four other advisor habits he says can help grow a business. Other habits include exchanging referrals with peers and always following up with business connections.

More Summaries:
Michael Goldberg
8/15/2018

A survey by Home Instead found that 53% of preretirees who plan to leave their job in the next five years anticipate going back to work at some point. The need to generate additional income was the most common reason given, but respondents also cited staving off boredom and keeping a sharp mind.

Full Story:
PlanAdviser online
8/15/2018

The decision of whether to pay off a mortgage in retirement depends on a number of factors, financial experts say. Among them are how long you plan to stay in your home, whether you have enough retirement savings and how high your interest rate is.

8/15/2018

Insured losses from severe storms in the US are on track to surpass $10 billion for the 11th straight year, with hail accounting for 70% of that amount, compared with 20% from tornadoes and straight-line wind and 10% from lightning, experts say. Climate change's impact on hail is difficult to determine, although increased construction amid population growth is likely to push losses higher, according to experts.

8/15/2018

The National Highway Traffic Safety Administration's "Drive high, get a DUI" ad campaign aims to increase awareness of drugged driving. A Governors Highway Safety Association study found that testing of drivers who died in crashes in 2016 found that 44% had drugs in their system, compared with 28% a decade earlier.

Full Story:
USA Today
8/15/2018

A Standard & Poor's report says catastrophe bonds, collateralized reinsurance and other types of insurance-linked securities have "transformed the market" for reinsurance, notably in the property catastrophe business. The reinsurance sector has been able to harness such products and the capital markets to "increase its premiums while maintaining its net exposures," S&P says.

Full Story:
Artemis
More Summaries:
S&P
8/15/2018

A study of Travelers data found wind to be the leading peril in personal property claims from 2009 to 2016, when it was the cause of damage in 24% of such claims. Meanwhile, non-weather-related water damage was cited in 20% of personal property claims, weather-related water damage in 11%, and hail in 16%, Travelers said.

8/15/2018

Storms are bringing lightning risk and little rain to northern California and southern Oregon as crews continue to fight deadly wildfires amid dry conditions. Meanwhile, the firefighter who died on Monday after being struck by a falling tree while battling the Mendocino Complex fire in California has been identified as Matthew Burchett of Utah.

More Summaries:
Mendocino Complex
8/15/2018

Heavy rain has caused flooding in parts of New Jersey, New York and Pennsylvania, and New Jersey Gov. Phil Murphy has declared a state of emergency for five of the state's 21 counties. Crews have evacuated residents by boat in some cases and have rescued people from flooded homes and stranded vehicles.

Full Story:
Reuters
More Summaries:
Gov. Phil Murphy
8/15/2018

The Puerto Rico Electric Power Authority is restoring power to the last homes that remain in the dark because of Hurricane Maria, but officials say the island's power grid still has many weaknesses even after $3.2 billion has gone toward repairs and improvements. The utility's goal now is to create more resilience in the electrical system, which is "stable, but fragile," Michael Byrne, the federal disaster recovery coordinator for Puerto Rico.