Insurance
Top stories summarized by our editors
12/14/2018

Many US workers don't understand all the benefits health savings accounts offer, including the ability to invest their balances, according to a report from Cerulli Associates. Participants, plan sponsors and advisors need to be educated to view HSAs as retirement-savings vehicles, says Cerulli's Dan Cook.

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Cerulli Associates, Cerulli, Dan Cook
12/14/2018

The Hill has named PCI's Nat Wienecke to its Top Lobbyists 2018 list. Those being recognized "have demonstrated their ability to wield influence and deliver results on Capitol Hill and in the administration on behalf of clients and groups seeking a voice in Washington," The Hill says.

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The Hill
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Nat Wienecke
12/14/2018

Road and workplace safety is a key concern as more states are legalizing marijuana for recreational use, particularly with the lack of a standard to easily detect impairment, PCI's Nat Wienecke said. PCI is "starting to have conversations with policymakers on whether or not the US and the individual states should adopt a pro se standard of source. ... For example, if you've smoked marijuana within X hours, you should not drive or go to work," he said.

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marijuana, Nat Wienecke
12/14/2018

The Oklahoma Board of Health has voted in favor of regulations on marijuana edibles, and the rules now require Gov. Mary Fallin's approval before taking effect. The regulations would be similar to those affecting foods that do not contain tetrahydrocannabinol, or THC, although they would mandate extra testing and labeling.

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The Associated Press
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marijuana, Gov. Mary Fallin
12/14/2018

Legislation meant to foster the adoption of self-driving vehicles appears unlikely to gain approval by the end of Congress' current session, said Sen. John Thune, R-S.D. Safety and a potential lack of state oversight are among Democrats' criticisms of the bill, while supporters of the measure say removing regulatory hurdles for autonomous vehicles would help save lives.

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Reuters
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Sen. John Thune, Congress
12/14/2018

A storm that generated more than a foot of snow in parts of the West is making its way across the US and poses a threat of flash flooding, damaging winds, hail and tornadoes from Florida through the Carolinas.

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ABC News, AccuWeather
12/14/2018

The concept of wildfires as a secondary peril could change amid rising fire losses in California and other states, and that might prompt insurers to "alter their view of fire risk," said meteorologist Steve Bowen of Aon. Nonetheless, property/casualty carriers have a record amount of nearly $760 billion to pay claims, said Amy Bach of United Policyholders, and insurers note that any coverage limitations that emerge would affect wildlife-urban interface areas and not all of California.

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CBS News
12/14/2018

Cybercriminals have changed their tactics over the past year by focusing on specific entities and demanding higher ransoms, said Graeme Newman of CFC Underwriting. Businesses are increasingly seeking cyberinsurance, which now has a 30% penetration rate in the US, and coverage is beginning to "extend out to all manner of technology failures," including operator and administrator error, Newman said.

12/14/2018

Tennessee Gov.-elect Bill Lee is keeping Julie Mix McPeak in the role of commerce and insurance commissioner. McPeak's department is responsible for areas including fire-prevention efforts and insurer oversight.

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Bill Lee, McPeak
12/13/2018

According to the annual New Year's Resolution Study from Allianz Life, 49% of Americans said health and wellness would be their top priority in the new year, while 27% said it would be financial security. Overall, the survey showed respondents were more optimistic about their personal financial situation than they were last year, especially millennials, said Allianz's Paul Kelash.

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Allianz Life, Allianz, Paul Kelash