Insurance
Top stories summarized by our editors
3/29/2017

House Republicans, including members of the conservative Freedom Caucus who blocked progress of the American Health Care Act last week, said Tuesday they will continue working to unravel and replace portions of the Affordable Care Act. House Speaker Paul Ryan, R-Wis., also said Congress must take immediate action to stabilize markets because insurers must soon develop plans for 2018.

3/29/2017

The Florida Senate Judiciary Committee on Tuesday voted unanimously in favor of legislation that would set statewide insurance requirements for ride-sharing operations. "PCI applauds the Senate Judiciary Committee and [bill sponsor Sen. Jeff] Brandes for supporting legislation that addresses the insurance gaps when a driver is engaged in ride-share activity," said Logan McFaddin of PCI.

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Logan McFaddin
3/29/2017

The driver of a Tesla Model X said the car's Autopilot function was engaged during a collision with a police motorcycle in Phoenix. No injuries or damage occurred in the collision, during which the Tesla was moving at about 3 mph.

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Tesla
3/29/2017

Three storm chasers died when their vehicles collided in Texas on Tuesday, although police say the crash occurred because one driver disregarded a stop sign and not directly because of severe weather. Large hail and strong wind remain a threat for parts of Texas and Oklahoma today.

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CBS News, AccuWeather.com
3/29/2017

A group of geologists is using the relative strength index, which helps Wall Street traders track stock prices, to monitor and better understand "slow slip" earthquakes. The algorithm might help examine "the seismic effects of groundwater extraction, volcanic inflation and all kinds of other things that we may not be detecting in the GPS data," said Brendan Crowell of the University of Washington.

3/29/2017

Academic experts want to more narrowly define what constitutes a cyberattack as opposed to a minor breach, and they have released the Tallinn Manual 2.0 to aid policymakers toward that goal. "We're very nervous when people say 'cyberattack,' because a 'cyberattack' opens the door to a state responding at very highest level of severity," said Michael Schmitt, a law professor at a the US Naval War College and University of Exeter in England.

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The Associated Press
3/29/2017

The Labor Department's proposed fiduciary rule was a key factor in the decline of variable-annuity sales in 2016, as major providers saw decreases of 25% or more, observers say. The longer-term dip in sales, however, also stems from factors including the increased use of indexed and hybrid indexed-variable annuities, some experts say.

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Labor Department
3/29/2017

Research shows that employers are increasingly receptive to self-funding their health insurance costs, writes Karin James of Sun Life Financial. Insurance brokers can help employer clients make such a transition by offering education and support to outline benefits and risks, James writes.

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BenefitsPro.com
3/29/2017

Variable annuities experienced a 20% year-over-year decline of new sales in the fourth quarter of 2016, with the Labor Department's proposed fiduciary rule among the main challenges for the market, Morningstar said. "Annuities are sold and not bought, that's true, but they need to be nurtured at the broker-dealer" to maintain interest in the products, said Kevin Loffredi of Morningstar.

3/29/2017

The global market for insurance against cybersecurity threats is projected to triple between 2015 and 2020 amid surging demand. Attorney William Shenton explores why this specific type of insurance is necessary and what types of cyberrisk it can cover.

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JDSupra.com