The National Association of Insurance Commissioners' Life Insurance Illustration Issues working group is close to finalizing a "policy overview" summary and hopes to have it done in time for a summer meeting. The two-page summary is designed to help consumers better understand policies, and distribution would be required along with a life insurance buyer's guide.
Companies would be able to match employees' student-loan payments with contributions to their retirement plan in the new version of the Retirement Security and Savings Act of 2019. Contingent benefit requirements currently impede employers' ability to link benefits such as student loans and retirement savings in most cases.
A bill approved by the House would reauthorize the National Flood Insurance Program for the remainder of the fiscal year, which ends Sept. 30. Whether a Senate disaster-relief bill will feature an NFIP extension remains unclear.
Premiums for directors-and-officers policies have risen for the past five quarters, with the biggest of those increases being 14% in Q1 of 2019, according to Aon. D&O premiums are rising amid heightened federal securities class-action lawsuits, while American International Group says D&O policies led to an estimated $6.1 billion in losses last year and generated only $4 billion in premiums from public-company clients.
A survey of participants in a Virginia online safety forum found 93% saying distracted driving is a top road safety concern, while 80% said they sometimes use their cellphones while behind the wheel. Drunken driving was the second biggest safety concern among respondents, and aggressive and drugged driving also ranked among the top concerns.
Purdue Pharma now faces a lawsuit in which the Pennsylvania attorney general's office alleges the OxyContin maker used sales tactics that fueled the opioid addiction crisis. The attorney general said it is possible that further opioid-related cases could be filed by his office and dozens of other state attorneys general.
Researchers have undertaken a drone-focused project intended to provide greater insight into how supercell storms generate tornadoes. The effort includes almost the entire Plains area, with the first phase underway until June 16 and the second phase set for 2020.
The retirement system is not keeping up with changes to the economy and the workforce, Sen. Chuck Grassley, R-Iowa, told NAIFA members during their Congressional Conference. The Senate Finance Committee held a hearing Tuesday on the Retirement Enhancement and Savings Act, and Grassley said "it was made clear to us that we need to build on the current system and bring more people into it."
A report from The New School's Tishman Environment and Design Center demonstrates how zoning laws could be used to advance environmental justice. The report highlights five cities and one county that have prohibited certain forms of land use because of concerns for the environment or for public health: Baltimore; Chicago; Portland, Ore.; Oakland, Calif.; Seattle; and Whatcom County, Wash.
In an interview, Lyn Santos Rodriguez, the senior manager of corporate sustainability for Karisma Hotels & Resorts, shared 10 ways sustainability efforts at Generations Riviera Maya are saving the resort money. She told Kate Harrison of innovations such as using key card light controls, serving beverages without straws and conserving water.