Insurance
Top stories summarized by our editors
12/8/2017

A letter from about 40 House Republicans opposes the first-in, first-out tax-legislation provision that would require investors to sell their oldest shares first in taxable brokerage accounts. The lawmakers say the provision could complicate long-term investing and hinder "access to more sophisticated wealth management advice."

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WealthManagement
12/8/2017

A study from the Center for Financial Services Innovation finds that about half of Americans spend at least as much money as they make, but experts say mobile apps and other digital products can help control their finances. "Having constant access to your budget reduces the likelihood that you'll overspend," said Matt Reiner, CEO of personal-finance app Wela.

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Advisor News
12/7/2017

Approximately 200,000 people in Southern California have fled their homes because of the threat of wildfires fueled by dry vegetation and Santa Ana winds that could reach 75 mph. The fires have destroyed or are threatening homes in Los Angeles and Ventura County, and three firefighters have been injured, although no civilian deaths or injuries have been reported.

12/7/2017

PCI is calling for a Florida Senate committee to advance legislation that addresses assignment-of-benefits abuse in windshield repair and replacement. "The number of auto glass repair shops trying to convince unsuspecting consumers to sign over their insurance benefits has grown exponentially over the past decade," PCI's Logan McFaddin said.

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glassBYTEs
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PCI, Logan McFaddin, Florida Senate
12/7/2017

The Insurance Institute for Highway Safety has given its Top Safety Pick or Top Safety Pick Plus status to 62 vehicle models for 2018, although 120 received the designation in 2017. IIHS has "raised the bar" with new collision test and tougher headlight requirements, but the outcome "doesn't mean that vehicles are less safe than they were last year," IIHS President Adrian Lund said.

12/7/2017

Fort Lauderdale, Fla., ranked lowest in a WalletHub study of safety in 182 US metro areas, with traffic fatalities per capita and financial security among the factors contributing to its placement on the list. The highest-ranking metro areas include Nashua, N.H.; South Burlington, Vt.; and Warwick, R.I.

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per capita
12/7/2017

The Bank of England has called for insurance companies to step up how they model natural-disaster risks and for boards to "understand what the limitations are with the catastrophe modeling." The central bank's statements come as profit warnings have emerged from some insurers and reinsurers after catastrophes in the US, Caribbean and elsewhere.

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Reuters
12/7/2017

More than 1,600 residences in Houston's flood plains that were "substantially damaged" by Hurricane Harvey will face mandatory repairs to meet city building-code requirements. Some are likely to have to elevate their homes.

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Hurricane Harvey
12/7/2017

October wildfires in California caused more than $9.4 billion in insured losses, according to an estimate from state Insurance Commissioner Dave Jones. The figure is based on claims tallied as of Friday for more than 21,000 homes and 2,800 businesses.

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Reuters
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Dave Jones
12/7/2017

Large premium increases for many Affordable Care Act plans are prompting some consumers to piece together various insurance products to save money. Consumer advocates warn that the approach does not amount to full coverage under the ACA and could leave people susceptible to tax penalties for noncompliance with the ACA's individual mandate.

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Kaiser Health News
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ACA