Insurance
Top stories summarized by our editors
8/16/2018

Crews are seeking to prevent the further spreading of the Mendocino Complex fire in California by starting fires to burn vegetation that could serve as fuel. The Mendocino Complex, which consists of two wildfires, expanded to 363,845 acres on Wednesday and was 64% contained, down from 68% the day before.

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Mendocino Complex
8/16/2018

Heavy rainfall on Tuesday led to flooding in parts of Oklahoma City and forced some residents to swim to safety as floodwater damaged homes. Local public works officials said they will assess the city's drainage system based on homeowners' damage reports.

8/16/2018

A report by the Environmental Integrity Project says the Texas Commission on Environmental Quality should "plan, coordinate and stagger the often-complicated shutdowns of major industrial facilities during hurricanes and other disasters." The group says oil refineries, petrochemical plants and other industrial facilities emitted an additional 8.3 million pounds of air pollution as Hurricane Harvey struck the state last year.

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Reuters
8/16/2018

Three states have an Affordable Care Act reinsurance program, two have approval to start one and four want to launch one in 2019. The program, supported by federal dollars, has lowered the cost of health insurance, although industry analysts say the program is not a cure-all and does not address the underlying issue of rising medical costs.

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Kaiser Health News
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ACA, ACA
8/16/2018

Changes from the Financial Accounting Standards Board could lead to elimination of certain life and annuity products. Insurers with participating life policies, term life policies, universal life policies and whole life policies are affected, as are certain annuity features.

8/16/2018

Supporters of raising property taxes on commercial real estate in California say they have gathered enough signatures to get the effort on the ballot in 2020. The proposal would repeal the state's 2% annual cap on property tax growth for commercial properties but leave it in place for residential properties.

8/15/2018

A survey by Home Instead found that 53% of preretirees who plan to leave their job in the next five years anticipate going back to work at some point. The need to generate additional income was the most common reason given, but respondents also cited staving off boredom and keeping a sharp mind.

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PlanAdviser online
8/15/2018

No advisor is too experienced to take notes, writes consultant Michael Goldberg, who lists note-taking along with four other advisor habits he says can help grow a business. Other habits include exchanging referrals with peers and always following up with business connections.

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Michael Goldberg
8/15/2018

The decision of whether to pay off a mortgage in retirement depends on a number of factors, financial experts say. Among them are how long you plan to stay in your home, whether you have enough retirement savings and how high your interest rate is.

8/15/2018

Insured losses from severe storms in the US are on track to surpass $10 billion for the 11th straight year, with hail accounting for 70% of that amount, compared with 20% from tornadoes and straight-line wind and 10% from lightning, experts say. Climate change's impact on hail is difficult to determine, although increased construction amid population growth is likely to push losses higher, according to experts.