The rise of self-driving cars could mean changes in how vehicles are insured and where the emphasis lies. "As we get more and more into where the system is driving, it’s going to be increasingly about that system," says Robert Passmore of PCI.
Hit-and-run crashes caused more than 2,000 deaths in 2016, a 62% jump over 2009 and the most since government records started in 1975. Nearly two-thirds of hit-and-run victims were bicyclists or pedestrians.
Cold air from Canada and late snowstorms are causing fewer tornadoes than normal in the Midwest, although meteorologist Patrick Marsh says this could change quickly with even one outbreak of tornadoes. "If a blocked pattern sets up with a trough over the Plains, we could have multiple outbreaks per week," meteorologist Chad Myers adds.
Houston is allowing a housing developer to build about 900 homes in a floodplain in line with stricter local development requirements. The developer will also create a utility district to issue bonds for covering the cost of infrastructure surrounding the homes.
The Federal Emergency Management Agency is considering a policy change that would allow homeowners to retain and rebuild on land after FEMA purchases and destroys flooded homes.
A federal appeals court has reversed a ruling that cited the federal government for the flooding of New Orleans' Lower Ninth Ward and St. Bernard Parish during Hurricane Katrina. The class-action lawsuit alleges the manmade Mississippi River Gulf Outlet caused flooding.
The California Senate Standing Committee on Insurance OK'd a bill requiring insurance companies to pay out a minimum 80% of a homeowner's maximum coverage without itemization in areas covered by disaster declarations. A second committee-approved bill would enable disaster-affected homeowners to combine coverage to pay for any insured uses, although both bills require the committee chairman's approval before moving to the Senate.
Sales of indexed annuities are making a recovery now that firms are no longer distracted by the challenge of complying with the Labor Department's fiduciary rule, said Sheryl Moore, president and CEO of Moore Market Intelligence.
Employers should offer and encourage employees to buy long-term disability insurance and educate them about the need for the product, writes Liisa Granfors-Hunt of Corporate Synergies. Offering both pre- and post-tax premium options for disability coverage can help to attract and retain talent, Granfors-Hunt writes.
Target-date funds are referred to as passive investments because they invest in index funds that don't make tactical market adjustments, notes Jake Gilliam of Charles Schwab. However, the fact that target-date funds have a glide path that reduces stock exposure over time means they are fundamentally at least partly active when it comes to design, he says.
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