Legislation in the House would require the Financial Stability Oversight Council to tell companies the basis of a potential systemic-risk designation and allow them to address the issues the FSOC has outlined. "PCI has long-argued for a clear off-ramp for companies to take action to eliminate activities that FSOC believes pose systemic risk," PCI's Nat Wienecke said.
Georgia Gov. Nathan Deal and Lt. Gov. Casey Cagle support a state House bill that would forbid the handling of cellphones or other electronic devices while driving. The bill is before the state Senate Rules Committee before potentially moving to a full Senate vote.
A review of government records by Houston Chronicle and The Associated Press has identified more than 100 Houston-area toxic releases -- many of which officials didn't announce to the public -- that stemmed from Hurricane Harvey. Carcinogens such as benzene, butadiene and vinyl chloride were spilled, and the documents show a single plant was the source of a half-billion gallons of mixed industrial wastewater and stormwater released during the storm.
Officials reported water leakage and some spillway damage to the Moccasin Dam in California's Sierra Nevada foothills Thursday, but fears that the small dam would fail were alleviated as water levels began to decline. About three dozen people nearby evacuated amid a flash flood warning as a storm approached the area.
Two deaths reported on Long Island, N.Y., were related to the latest nor'easter to hit the area, with one woman dying in a vehicular crash and another suffering a fatal heart attack while shoveling snow. The storm led to thousands of flight cancellations and reduced operations of trains and buses.
Artificial intelligence is emerging as a top risk to businesses, making active risk management strategies necessary to ensure that the technology is used as beneficially as possible, according to a report by Allianz Global Corporate & Specialty. Insurers are using AI for chatbots, while vehicle automation is poised to bring a shift toward manufacturer liability in auto insurance.
Sales of nonvariable deferred annuities, including individual indexed deferred annuities, rose 0.6% in the fourth quarter of 2017 from the year-ago quarter, according to Wink's Sales & Market Report. Among the industry's biggest insurers, results varied, with three of the top five showing sales increases and two reporting declines.
Robo-advisors are targeting 401(k) plans at small and midsize employers with the goal of offering automated financial advice for retirement at a lower price. Several startups are already getting into the robo game, offering fiduciary advice, fund selection, account management and plan compliance and administration.
Washington has launched an online retirement marketplace -- the first in the US -- that allows businesses and individuals to comparison shop for retirement plans. The state has about 131,000 businesses that don't offer retirement plans and about 2 million workers who don't have access to them through their employers.
Maryland's General Assembly is considering two bills aimed at shoring up the Affordable Care Act by creating its own reinsurance fund and instating an individual mandate that would use a tax fee to enroll uninsured people in plans. If passed, these initiatives could provide a road map for other states, writes The Washington Post's editorial board.
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