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New York governor presses banks, insurers to weigh risk of NRA ties

“NEW YORK (Reuters) – New York Governor Andrew Cuomo on Thursday ramped up pressure on banks and insurers to revisit whether their ties to the National Rifle Association and other gun rights groups harm their reputations and the public interest” writes Midwest Communications Inc for 95kqds.com. The governor directed New York’s Department of Financial Services to urge state-chartered banks and the more than 1,400 insurers it regulates to review whether their ties to the NRA and similar groups sends the “wrong message” to clients and communities. Source: 95kqds.com Share This:

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Could tontines be an alternative to annuities?

“Although, historically, tontines were not used for retirement, the current conversation among economists and finance experts focuses on the potential of tontines to offer longevity insurance for retirees” writes Alicia H for marketwatch.com. Tontines do not provide insurance against this “systemic longevity risk” and instead pass it on to the customer instead.The main consideration is insuring against “longevity risk” — the possibility of outliving one’s savings — without unduly restricting spending. Source: marketwatch.com Share This:

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Kasko2Go launches in-app safe driver community and tech to reduce premiums

“Today, Kasko2Go, a decentralized car insurance app, has announced the launch of its safe driver community” writes Stewart Rogers for venturebeat.com. Safety on the roads is the best profit.” Kasko2Go’s safe driving community is available in-app from today and combines with its existing anti-fraud technology, distributed ledger, and telematics.A 2017 secret investigation the insurance company Aviva conducted in Ontario, Canada showed that nine out of 10 body shop claims involved were fraudulent. Source: venturebeat.com Share This:

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Retirement Insurance Products Are Disappearing. And That’s Dangerous.

“From annuities to long-term-care insurance to employer-provided health insurance, insurance products are becoming both less available and less popular” writes Benjamin Harris for wsj.com. The market for retirement insurance products is slowly and silently disappearing.Fixed-annuity sales, which are more analogous to insurance products than variable annuities, have also stagnated— staying mostly constant over the past decade.On the public side, Medicare provides health insurance, Medicaid provides means-tested long-term-care insurance, and Social Security doubles as an annuity and life-insurance benefit.Ultimately, retirement security isn’t just about having a nest egg, but is also…

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‘AI is absolutely critical for us,’ explains Chinese tech CEO

“If your car got (into) an accident, you can simply use our app to take a photo of the damaged car,” Chan said” writes Eustance Huang for cnbc.com. Better known for its dominance in China’s insurance market, Ping An Insurance has been delving into the technology space with Ping An Technology.”AI is absolutely critical for us,” Chan said, pointing to the group’s automotive insurance business as an example of how consumers have benefited from Ping An’s use of the technology. Source: cnbc.com Share This:

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15 tips for first-time home buyers

“To cancel FHA insurance, your only option is to refinance the loan into a conventional loan” writes Aja Mcclanahan for aol.com. When refinancing an FHA loan into a conventional loan, you’ll need 20 percent equity in your home to avoid a PMI purchase.When financing a new conventional loan, consider saving at least 20 percent to put down to avoid having to purchase the insurance.Conventional loans might also require you to purchase PMI if you put less than 20 percent down — or have less than 20 percent equity in your…

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Co-op returns to profit as it bounces back from bank woes

“The Co-operative Group returned to profit last year as it bounced back from a massive writedown of its stake in the Co-operative Bank and cost-cutting measures began to pay off” writes Jack Torrance for telegraph.co.uk. The previous year’s loss came after a £140m writedown of the group’s stake in its eponymous bank, which it has since sold.Revenues from insurance, its second-largest division, slumped 25pc to £331m, but the Co-op said that was the result of changes to the way it recognises sales. All our businesses have performed well and we…

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Obamacare 2018 sign-ups slightly below last year

“The 2018 sign-ups came despite the Trump administration drastically cutting outreach funding from $100 million for the 2017 open enrollment to $10 million” writes Ap Photo Alex for washingtonexaminer.com. Obamacare enrollment fell slightly this year, with 11.8 million consumers signing up for coverage compared with 12.2 million in 2017, according to an official count from the Trump administration.The Trump administration said that since Obamacare was in its fifth year, more money for ad funding was not needed. Source: washingtonexaminer.com Share This:

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Most people with Obamacare plan to keep it even though the government will no longer punish them for going uninsured, according to a new poll from the Kaiser Family Foundation.

“The survey found that the mandate ranked low among reasons why people said they bought their own health insurance in 2018” writes Ap Photo Alan for washingtonexaminer.com. Obamacare customers buy health insurance on their own because they don’t receive it through work or through a government program, such as Medicare.Both sides of the Obamacare debate have argued about whether the individual mandate had the desired impact of getting younger, healthier people who would otherwise choose to go uninsured to buy coverage.But there is widespread disagreement about the impact of the…

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A small but growing movement of doctors that don’t accept insurance and charge a monthly fee could be a model for big employers like Amazon and JPMorgan

“While some doctors are excited about the premise of employers getting more invested in direct primary care, not everyone’s on board” writes Lydia Ramsey for businessinsider.com. For the majority of the practices Business Insider spoke with, employers make up a small portion of their business. Source: businessinsider.com Share This:

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