Premiums for silver Affordable Care Act plans are expected to increase an average of 15% to $740 next year from $642 in 2018, according to an analysis of 2019 health insurance exchange rate filings in 10 states and Washington, D.C. The analysis by Avalere Health attributed the premium hike to the repeal of the ACA's individual mandate, the administration's decision to halt cost-sharing reduction payments and the lack of federal legislation to stabilize the ACA market despite enrollee risk and structural uncertainties.
Financial planners should focus on annual estimates rather than lifetime projections when discussing retirement health care costs with their clients, Vanguard says. Lifetime projections are "distracting" and "demotivating," the investment-management company says.
Reinsurance companies have strong capital positions that appear likely to carry them through this year's Atlantic hurricane season, Moody's Investors Service says in a report. Catastrophes prevented several reinsurers from being profitable last year, but high levels of capacity have held pricing increases to moderate levels, Moody's says.
The $19.4 billion of insured losses caused by Hurricane Harvey include $8.4 billion of losses covered by the National Flood Insurance Program, but those figures are a small part of the overall $125 billion in damages, says a study by Zurich Insurance Group, ISET-International and the American Red Cross Global Disaster Preparedness Center. The NFIP "should slow or prevent the development of new properties within flood zones," and private insurers and the government should work to improve flood insurance's appeal among property owners, the study says.
A group of passengers who were on Southwest Airlines Flight 1380 when one of the jet's engines exploded have filed a lawsuit accusing the company of negligence in aircraft maintenance and repairs. In April, a passenger not involved in the latest lawsuit sued Southwest over the incident, which left one passenger dead.
Parts of southeastern Texas have gotten at least 5 to 10 inches of rain since Tuesday, causing the most severe flooding in the state since Hurricane Harvey. A storm system also brought dangerous flash flooding to the Pittsburgh area, leaving at least one person dead as crews conducted dozens of rescues.
Two insurance companies have already reported receiving more than 17,500 property and auto claims related to this week's hailstorm in the Denver area. Three or four hail catastrophes tend to occur each year in the Denver area, according to Property Claim Services.
Design and safety features that can help homes withstand hurricanes, flooding and other extreme weather are not being embraced quickly enough within the housing market, experts say. The Federal Emergency Management Agency provides reduced rates for flood insurance in communities that exceed local building codes, and insurers are encouraging builders to meet the Insurance Institute for Business and Home Safety's enhanced standards to protect homes from hurricane damage.
A National Safety Council study found employee fatigue to be a factor in nearly one-third of reported workplace injuries and near-misses. Preventing workers from taking excessive overtime, reducing repetition in tasks and rotating overnight shifts among employees can help mitigate fatigue in the workplace, experts say.
Southeast Texas on Wednesday experienced flash flooding in areas affected by Hurricane Harvey in August, with reports of a 91-year-old woman rescued from her home and stranded motorists brought to safety via kayaks. Rainfall set a daily record at a regional airport, while Corpus Christi reported part of the city receiving 12.89 inches of rain over 48 hours.
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