Millennials and members of Generation X are good groups on which to focus life insurance sales efforts during open enrollment, writes Jennifer Gassaway of Standard Insurance Co. Agents should emphasize factors, including the need to be ready for the unexpected, as well as the facts that life insurance is less costly than many people think and that it is not just for people with spouses and children, Gassaway writes.
A Willis Towers Watson report shows that employers are facing higher expenses for sponsoring health care plans, while their costs related to retirement benefits are declining. "[E]mployers need to balance their costs with the long-term returns on providing benefit packages that will be highly valued by their workforce, as well as attract desirable employees and encourage timely retirement," the report says.
Closed-end funds are in use among 62% of financial advisors, compared with 51% in 2013, according to a Nuveen survey. Among the top reasons advisors cited for using the funds were strong yields and strong return on investment.
The recent breach of the Securities and Exchange Commission's EDGAR database of company filings is another in a series of issues with the system. Continued problems could damage companies' and investors' confidence in the SEC and endanger the agency's ability to promote market transparency, write Benjamin Bain, Annie Massa and Robert Schmidt.
BlackBerry has entered a deal that will bring its QNX operating system to Delphi's Centralized Sensing Localization and Planning platform for connected cars. The operating system's features, such as anomaly detection and file encryption, will be paired with Delphi's middleware and algorithms to bolster security.
A spokesman for Senate Majority Leader Mitch McConnell, R-Ky., said the senator plans to bring the Graham-Cassidy health care bill to a vote next week, but it remains unclear whether the party has enough votes to advance the bill. The legislation, which is seen as the GOP's last attempt to repeal portions of the Affordable Care Act under reconciliation rules before the Sept. 30 deadline, is predicted to cut funding to states by $215 billion through 2026, and 34 states are expected to be affected by the reductions, according to an Avalere Health analysis.
The recent spate of natural disasters prompted United Capital's Joe Duran to look at the role advisors can play in helping clients deal with the unexpected. He offers three points to bear in mind, including that while preparation matters, the reaction to the situation is even more important.
Tuesday's 7.1 magnitude earthquake in Mexico was preceded by warning sirens, and countries such as Japan send text-message alerts about earthquakes, prompting questions about funding issues that have kept a US early-alert system in beta mode. At least 237 people have died in the Mexico earthquake, which occurred 32 years after an earthquake killed thousands of people in the country.
Hurricane Maria regained Category 3 status this morning after causing major flooding in Puerto Rico, where Gov. Ricardo Rossello says power outages could last for months. Parts of the Dominican Republic and the Bahamas are under a hurricane warning, as is Turks and Caicos.
The Securities and Exchange Commission said that in 2016, hackers gained access to its computer database containing potentially market-moving corporate information and might have used the information for illegal trading gains. The SEC said it concluded only last month that the cybercriminals might have used the data for trading.