Monday, 25 September 2017
New Twist on Venture Capital Taps a Well-Connected Village
Long list of luminaries backs new VC fund, pledges ‘time and energy’ to the portfolio.
An Offer He Couldn’t Refuse: How a Famed Tuscan Winemaker Was Lured to Sicily (Wine Spectator)
How a famed Tuscan winemaker was lured to Sicily
Microsoft’s Nadella Wants to Help Coders Take a Quantum Leap
Quantum computers don’t exist but Microsoft released a programming language for them.
Taking Out Life Insurance Is Easy Online
Did you know that you can sign up for life insurance and mortgage protection cover online? Our customers find it very easy to sign up online for our life insurance and mortgage protection products.
Sunday, 24 September 2017
Triple damage award stands
A Little Falls, N.J., Toyota dealership that canceled a RAV4 owner’s extended service contract without telling her or sending a refund also failed to persuade an appeals court to overturn her triple damage award.
Friday, 22 September 2017
Why Facebook Will Struggle to Regulate Political Ads
Disclosure rules for funding political ads are murky. Now Facebook wants to regulate itself
Skipping background checks could be costly
Conducting criminal background checks on potential hires is a best practice, experts say. Yet many dealers skip them. Why?
Mexico quake losses could reach $2 billion: AIR
Insured losses from the magnitude 7.1 earthquake that struck central Mexico Sept. 19 will be between 13 billion and 36.7 billion Mexican pesos ($726.7 million and $2.05 billion), according to catastrophe modeling firm AIR Worldwide.
I Helped Create Facebook’s Ad Machine. Here’s How I’d Fix It
Facebook finally laid out some changes to its ad platform. But a former employee who helped build it shares his own ideas on how to fix the Russia problem.
Maria losses in Caribbean likely to top $1 billion
Insured losses in the Caribbean from Hurricane Maria will likely top $1 billion, and economic losses could be much more severe, according to Impact Forecasting’s “Weekly Cat Report September 22, 2017,” issued by the Aon Benfield unit early Friday.
Stricken By Tragedy, an Immigrant Fights for Her Home
How one tech worker’s story illuminates the plight of H-1B holders.
Texas governor appoints insurance commissioner
Texas Gov. Greg Abbott has appointed Kent Sullivan as Insurance Commissioner for a term set to expire Feb. 1, 2019.
Business Insurance names EMEA Women to Watch honorees
Business Insurance has announced the honorees for its first international version of Women to Watch, recognizing honorees from Europe, the Middle East and Africa.
Irish Van of the Year 2017
Are you in the market for a new van? Why not take some inspiration from models mentioned in the recent 2017 Irish Van of the Year Award.
The BI Top 10
This week’s most popular stories include several executive moves at insurers and brokers, along with updates on September’s rash of hurricanes and earthquakes.
Why Facebook And Google Are Clashing With Internet Freedom Advocates
How longtime allies of Google, Facebook and co. became sometime adversaries
Thursday, 21 September 2017
Facebook’s Election Ad Overhaul Takes Crucial First Steps
In the face of brewing backlash, Facebook is redesigning its election integrity processes and sharing (some) information with Congress.
Technology risks top North American business worries in 2017
Terrorist attacks, large cyber attacks, and misuse of technology are the top risks facing businesses in the United States, according the World Economic Forum survey released Wednesday.
Global reinsurers rocked by storms and quakes
(Reuters) — A profit warning from one of the world’s largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global finance.
Russian reinsurer eyes shift from sanctions business to Asia and beyond
(Reuters) — Russian National Reinsurance Co., set up to offer coverage to Russian firms barred from using Western reinsurers because of international sanctions, aims to diversify beyond Russia, its chief executive said.
Law firm launches blockchain consultancy
Clyde & Co has launched Clyde Code, a consultancy to advise insurers and clients in other sectors on issues related to smart contracts, blockchain and distributed ledger technologies.
Reader Review: “Miss Jane”
by AnnieP (South Carolina): A very unusual book! An interesting treatment of a problem a woman and her family has to deal with from her birth and through her entire life. Even though it is the cause of her way of life, it’s handled reasonably without great and gory detail. The characters are alive and real, and although there are some "raw" scenes, it’s part of Miss Jane’s life, and well-presented. Even though it’s not for everyone, I thoroughly enjoyed this book, enough to get a couple of Watson’s other stories as well.
Snopes.com and the Search for Facts in a Post-Fact World
When you take a look at the internet’s favorite myth-busting site, you see just how hard it is to pin down the truth.
Wednesday, 20 September 2017
The Real Trouble With Trump’s ‘Dark Post’ Facebook Ads
Trump running campaign ads to a select audience on Facebook? That’s just how ads work. The scary part is that you can’t track them.
Dems Push for a Digital Ad Crackdown to Stop Foreign Meddling
As Facebook falls under more scrutiny for Russia’s ad buys, Congress eyes regulation.
Ironshore names Bermuda property executives
Ironshore Inc. said Wednesday that it has name Ian Smith as senior vice president, head of Bermuda property, and Shane Rozario as chief operating officer, Bermuda property.
Judge says Texas mortgage companies owe $296.3 million to US government
(Reuters) — A federal judge ordered two Texas-based mortgage companies and their chief executive to pay $296.3 million to the U.S. government after a jury found them liable for inducing the government into insuring risky home loans.
Stay on top of legal developments: RIMS
A report issued by the Risk & Insurance Management Society Inc. on Wednesday discusses top legal developments, including rights to insurance coverage, notice and cyber claims.
How to get sales staffers to embrace FandI
FandI managers can get sales staff to help with FandI by learning about their goals and investing in their training.
Against the clock, one approach doesn’t fit all
If a hybrid sales-FandI model isn’t the answer to smoother, faster process, what is?
Willis Re North America chairman, vice chairman named
Willis Re, Willis Towers Watson P.L.C.’s reinsurance business, has appointed Tom Wafer as chairman of Willis Re North America, effective in October, while Jeffrey Livingston has been named vice chairman.
Think floorplan fraud is gone? Think again
Floorplan fraud, while becoming less common, according to experts, will probably never fully disappear.
Band together to fight finance fraud, ID theft
Despite risks, auto lenders need to push forward quickly in a group effort to battle finance fraud and identity theft.
Apple Becomes a Chipmaker to One-Up Smartphone Foes
Apple’s iPhone X and Apple Watch 3 rely on new, company-designed chips.
Tuesday, 19 September 2017
XL Catlin to move EU insurance operations to Ireland in response to Brexit
XL Group Ltd. says it will move XL Insurance Co. S.E., its principal European Union insurer, to Ireland from the United Kingdom in 2018 in response to Brexit.
Witnessing Houston’s Harvey Recovery Effort First-Hand (Wine Spectator)
With floodwaters receding, Houstonians reach for their bootstraps
Insured vs. insured exclusion shields Beazley in D&O coverage dispute
Beazley Insurance Co. Inc. is not obligated to indemnify the directors of a now-dissolved company based on the insured vs. insured exclusion in its directors and officers liability policy, says a federal appeals court.
Mailman gets carried away with fraudulent workers comp claim
A U.S. Post Service employee in Cape May County has been charged with stealing more than $75,000 in federal workers comp benefits after vacation photos he posted on Facebook allegedly show him zip lining and rock rappelling while purportedly out of work with a wrist injury.
EU to propose stronger monitoring of UK financial firms after Brexit
(Reuters) — The European Commission is set to propose stricter controls of foreign financial firms that do business in the EU, a move that would extend European regulators’ supervision over London after Britain leaves the bloc.
Hurricane Maria pummels Dominica, barrels toward US Virgin Islands
Hurricane Maria, the second major storm to hit the Caribbean this month, crept toward the U.S. Virgin Islands and Puerto Rico on Tuesday after it ripped through the small island nation of Dominica.
Hotel industry fights constant hacker exposures
Travelers who check into hotels may run into some uninvited guests in the form of hackers looking to steal their financial information, analysts warn.
Monday, 18 September 2017
Credit reporting firms should register with New York: Cuomo
(Reuters) — New York’s governor announced plans to require all credit reporting agencies to register with the state, while federal authorities reportedly opened a criminal probe into Equifax execs’ stock sales before it disclosed a massive data breach.
Equifax’s top 2 technology executives leave company ‘effective immediately’
(Reuters) — Equifax Inc. said on Friday that it made changes in its top management as part of its review of a massive data breach, with two technology and security executives leaving the company “effective immediately.”
To Fix Its Toxic Ad Problem, Facebook Must Break Itself
Facebook stress-tests its tech. It could do the same for its moral compass.
Friday, 15 September 2017
Brash Investor Tries to Blow Up the IPO as His Partners Quit
VC Chamath Palihapitiya is investing in public companies, but his two co-founders are leaving their firm, Social Capital.
Catastrophe modeler narrows Irma loss estimate
Catastrophe modeling firm AIR Worldwide updated its estimate of insured damages from Hurricane Irma for the United States and the Caribbean to between $32 billion and $50 billion.
Markel offers coverage for hard-to-insure law firms
Markel Corp. is offering expanded coverage for hard-to-insure law firms that can no longer secure coverage in the admitted markets, the Glen Allen, Virginia-based insurer said Friday.
Grow Your Business with a Mentor
If you are looking for help to bring your business to the next level, it might be time to link up with a mentor. Find out how to get involved with a mentorship scheme here.
Mexican quake to have minor impact on insurers: Fitch
Mexican insurers are unlikely to see significant impacts from the Sept. 7 Chiapas earthquake due to low insurance penetration in the affected areas, the strength of catastrophe reserves and use of reinsurance.
Raising Wages to Help Workers Could Actually Help Robots Replace Them
Studies find that worker-protection rules, minimum-wage increases may bring more robots, fewer workers.
Thursday, 14 September 2017
Gender Bias Suit Could Boost Pay, Open Promotions for Women at Google
Three women sue Google saying it pervasively discriminates against women employees in pay and promotions.
NFIP likely needs increase in borrowing authority to cover Harvey claims
Hurricane Harvey claim payments will outstrip the National Flood Insurance Program’s cash on hand and current borrowing authority, likely meaning FEMA will need Congress to increase that authority.
Barclays wins end to US litigation over pre-financial crisis disclosures
(Reuters) — Barclays P.L.C. won dismissal of U.S. class action litigation by investors who bought its stock just months before the 2008 global financial crisis, and accused it of concealing its exposure to risky debt.
Ex-AIG chief Greenberg can pursue Spitzer defamation lawsuit
(Reuters) — Maurice R. Greenberg, former chief executive of AIG, may pursue large parts of his defamation lawsuit against former New York Attorney General Eliot Spitzer, a New York state appeals court ruled.
When VR Training Makes the Job Look Better than It Is
Employers increasingly use VR to recruit, retain workers.
Reader Review: “News of the World”
by S Hofsommer (Minnesota): Having lived in West Texas, studied Texas history and taught literature set in this country, I found the book a joy to read. Those who are familiar with the film "The Searchers" know about Indians capturing white settlers’ children and bringing them up as their own. My book club members knew little about the history of this time or the setting, so we had a lively discussion. I strongly recommend a book with a good plot set in an accurately portrayed setting.
Switch To An Electric Van and Save
If you’re looking at upgrading your van, why not consider an Electric Vehicle (EV). With running costs as a low as 1c per km, there is lot to be said about going electric.
Indiana, Reeling from Opioid Crisis, Arms Officials with Data
Indiana could provide a model of how states can better understand the spread and dangers of opioids.
What Is CamperForce? Amazon’s Nomadic Retiree Army
Inside the grueling, rootless lives of the RV dwellers who are spending their golden years working in the e-tail behemoth’s warehouses.
Wednesday, 13 September 2017
NFIP sees $11 billion payments for Texas flooding
(Reuters) — The National Flood Insurance Program estimates it will make $11 billion in payments through the government-run program for flooding in Texas caused by Hurricane Harvey.
Can Apple’s iPhone X Beat Facial Recognition’s Bias Problem?
Apple’s Face ID will be used to unlock the iPhone X, but other facial-recognition programs misidentify black people.
AIG offers Sharia-compliant M&A policy for Middle East and North Africa
American International Group Inc. on Wednesday said it is offering a Shariah-compliant insurance solution for merger and acquisitions activity in the Middle East and North Africa region.
How long will terms stretch?
With a third of new-vehicle loans now at 73 to 84 months, will even longer loans become commonplace?
Incentive money shifts to low-interest loans, away from leases
Automakers and their captive finance companies are carefully steering incentive money to low-interest loans instead of cut-rate leases, analysts say.
Irma insured losses estimated at $25 billion
Catastrophe modeler Karen Clark & Co. on Wednesday estimated total insured losses from Hurricane Irma in the United States and the Caribbean at $25 billion.
Hot Wine Advice for the 2017 Napa Heat Wave? Chill Out (Wine Spectator)
Napa’s Labor Day weekend heat wave has the wine industry atwitter, but cooler heads will prevail
Touting credit options? Mail alone won’t cut it, Experian says
Having a cohesive marketing strategy across multiple platforms is critical for lenders and dealers looking to push captivating loan offers to consumers, Experian’s Bill Butler says.
Irma, Harvey unlikely to trigger widespread rate hikes: Analyst
Keefe, Bruyette & Woods Inc. said that widespread rate increases are not expected in the wake of hurricanes Irma and Harvey, although those hit with losses may see double-digit hikes.
Reader Review: “Being Mortal”
by Gloria: Atul Gawande’s "Being Mortal" actually made me feel better about growing older and, eventually, frailer. Just knowing that there are people like him that are trying to make longer lives better lives gives me great comfort. This book should be in every home. And now I want to read his other books, too.
Golfing your way to career success and other advice from industry execs
Learn to play golf: That was one piece of career advice given to young members of the Wholesale & Specialty Insurance Association at its Annual Marketplace in San Diego.
Hurricane Irma will test cat bonds: Best
Around $12.5 billion in catastrophe bond value is exposed to losses from Hurricane Irma, says a new report from A.M. Best Co. Inc.
Apple’s ‘Neural Engine’ Infuses the iPhone With AI Smarts
Apple fires the first shot in a war over mobile-phone chips with a ‘neural engine’ designed to speed speech, image processing.
Tuesday, 12 September 2017
Tech’s Lack of Transparency Around Harassment Is Dangerous
SoFi CEO Mike Cagney resigns amid harassment allegations, but it’s hard to know why.
Yelp Claims Google Broke Promise to Antitrust Regulators
In a letter to the Federal Trade Commission, Yelp says Google is scraping photos from Yelp’s listings for its own search results
Insurance growth may yield more resilient infrastructure: World Bank official
Fledgling efforts by IGOs and the insurance sector to bridge the vast gap between insured and uninsured catastrophe losses worldwide could create more resilient infrastructure and mitigate risks.
Property, business interruption expected to top hurricane claims
Property and business interruption losses will likely dominate the insurance claims from recent hurricanes Harvey and Irma, although the process is just beginning and much has yet to be discovered.
Excess and surplus lines brokers promote cost-effective image
A report that documents that the cost of commercial insurance policies distributed through wholesalers is, in fact, less than those distributed through retail brokerage channels should help shatter a false myth, excess and surplus lines executives say.
Cincinnati Insurance offers distracted driving app
The Cincinnati Insurance Cos. and mobile software company LifeSaver said Tuesday that the LifeSaver app to combat cellphone-related distracted driving is available to the insurer’s commercial policyholders.
Travelers releases Harvey loss estimate
Travelers Cos. Inc. expects its losses from Hurricane Harvey to be between $375 million and $750 million before taxes, the insurer said late Monday.
Monday, 11 September 2017
Mexican quake unlikely to generate large insured losses: A.M. Best
Rating agency A.M. Best Co. Inc. said it does not expect to see large insurance claims resulting from the earthquake that rocked the southwestern region of Mexico on Sept. 7.
Why Tuesday Is Apple’s Most Important Day in Three Years
The iPhone accounts for nearly two-thirds of Apple’s revenue, and perhaps a greater share of its profits.
Irma insured losses could reach $40 billion
Catastrophe modeler AIR Worldwide on Monday estimated that U.S. insured losses resulting from Hurricane Irma will range from $20 billion to $40 billion.
US commercial insurance prices nearly flat in Q2
Commercial insurance prices in the U.S. were again nearly flat during the second quarter of 2017, Willis Towers Watson P.L.C. said Monday.
A Corsican Winemaker Walks a Line Between Family and Independence (Wine Spectator)
How winegrower Yves Leccia separated from his family to pursue his dream next door
Does Amazon Really Need a $5 Billion Second HQ? Maybe.
Amazon invites cities to bid on building a campus that could accommodate 50,000 workers.
Many forgo class-action payouts, expert says
Could filing claims in class-action suits be the coupon-clipping of the future for frugal consumers?
Could Harvey and Irma harden the insurance market?
It is still too early to determine whether hurricanes Harvey and Irma will lead to a hardening insurance market, but the catastrophic events should give the industry pause, experts say.
Bayer whistleblower lawsuit reinstated again
A federal appeals court has once again reinstated a whistleblower lawsuit filed against Bayer A.G. in connection with a drug that was removed from the market in 2001, in a divided opinion.
Reader Review: “A Gentleman in Moscow”
by Cloggie Downunder (Thirroul): “Some might wonder that the two men should consider themselves to be old friends having only known each other for four years; but the tenure of friendships has never been governed by the passage of time. These two would have felt like old friends had they met just hours before. To some degree, this was because they were kindred spirits – finding ample evidence of common ground and cause for laughter in the midst of effortless conversation; but it was also almost certainly a matter of upbringing. Raised in grand homes in cosmopolitan cities, educated in the liberal arts, graced with idle hors, and exposed to the finest things, though the Count and the American had been born ten years and four thousand miles apart, they had more in common with each other than they had with the majority of their countrymen.”
A Gentleman in Moscow is the second novel by American author, Amor Towles. At the age of thirty-two, Count Alexander Ilyich Rostov finds himself under house arrest in Moscow's Hotel Metropol. It's 1922, and the Bolsheviks are in charge; as an aristocrat, Count Rostov becomes a Former Person. Rostov has been occupying a suite on the third floor; now he leaves behind for “The People” all that he cannot fit into a tiny attic room three floors up. A good friend states, much later “Who would have imagined, when you were sentenced to life in the Metropol all those years ago, that you had just become the luckiest man in all of Russia.”
Towles drops his readers into Rostov's life every few years, bringing them up to date on significant events and people. If his detention is meant to be a punishment, Rostov is determined to make the best of it, and does so, despite some shaky times and one suicidal moment. Already well respected before his confinement, within a few years Count Rostov's role goes significantly beyond that of an involuntary guest held in great affection. For loved and respected he indeed is, by guests and all bar one member of the Metropol's staff.
This is not an action-packed page-turner, although there is a good dose of intrigue, some romance, plenty of humour and a rather exciting climax. This is a novel that meanders along at a gentle pace. Towles is a skilful storyteller: even seemingly unimportant details woven into the narrative prove their significance if the reader is patient. As well as exploring the philosophies of friendship and of politics, his setting facilitates a suitably nasty and vindictive petty bureaucrat, and a very fine example of communist equality policy at its silliest.
This is a novel with love and loyalty, compassion and quite a lot of wisdom, all wrapped is beautiful prose: “For if a room that exists under the governance, authority, and intent of others seems smaller than it is, then a room that exists in secret can, regardless of its dimensions, seem as vast as one cares to imagine”. David Nicholls describes Towles's first novel as “terrific”; his fans might think this one is too. Simply wonderful!
Curbing data breaches
To thwart data breaches and identify theft, Mark Pribish, ID theft practice leader at Merchants Information Solutions, has these tips.
Sunday, 10 September 2017
The faces of FandI fraud
The value of auto loan originations that contain some element of fraud may be as high as $6 billion this year, double last year’s level. A special section explores how lenders and dealers can guard against identity theft and finance fraud.
A Weird MIT Dorm Dies, and a Crisis Blooms at Colleges
MIT’s Senior House was a haven for creative outsiders. Adminstrators said it was dangerous and shut it down.
Saturday, 9 September 2017
Friday, 8 September 2017
Growing threat to lenders: Synthetic identities
The fastest growing type of identity theft, synthetic identity fraud, is largely unknown to the public and a mounting threat for auto lenders, experts say.
Insurers brace for big loss as Irma heads toward Florida
Hurricane Irma, which remained a powerful Category 4 storm Friday, could pass close to Miami and cause massive insured losses, catastrophe modeling firms and analysts said.
Ardanza and Aristotle: A Vertical Tasting of La Rioja Alta Viña Ardanza (Wine Spectator)
Over five vintages, a Rioja winery shows there is a middle way
Reader Review: “Who Is Rich?”
by Lola425: Read this if you like male protagonists who have literally nothing to complain about but complain anyway. Rich is miserable because he makes bad choices, generally originating from between his legs instead of his ears. In trying to prove himself he proves nothing.
Klam is funny and he creates a world that is so self-involved and self-reverential and ridiculous that it is believable and recognizable. The characters are well-written and yet I felt zero empathy for Rich.
I like to read books where characters are struggling with who they are. I enjoy existential crisis. So even if I didn’t like Rich, I did like the book.
Decentralized Social Networks Sound Great. Too Bad They’ll Never Work
Opinion: The power of platforms like Facebook, Google, and Twitter has prompted a call for decentralized social networks. Good luck with that.
Hub acquires Integro Canada
Hub International Ltd. said Friday it had acquired commercial property and casualty broker Integro (Canada) Ltd. for an undisclosed sum.
Equifax reveals hack that likely exposed data of 143 million customers
Equifax Inc., a provider of consumer credit scores, said on Thursday that personal details of as many as 143 million U.S. consumers were accessed by hackers between mid-May and July, in what could be one of the largest data breaches in the United States.
For Superpowers, Artificial Intelligence Fuels New Global Arms Race
Russia, China, US are rushing to weaponize artificial intelligence.
Thursday, 7 September 2017
Insurers prevail in coverage dispute with UnitedHealth Group
Units of American International Group Inc., Swiss Re Ltd., Chubb Ltd. and Starr Cos. have prevailed in complex litigation with UnitedHealth Group Inc. over indemnity and defense costs under their professional liability excess insurance policies.
Outstanding auto loans hit record $1.1 trillion
Outstanding U.S. auto-loan balances reached a record-high $1.1 trillion in the second quarter, a 7.1 percent rise paced by prime loans, an Experian report said.
Hurricane Irma kills 10, may hit Florida Sunday as Category 4
(Reuters) — Hurricane Irma plowed past the Dominican Republic toward Haiti after devastating a string of Caribbean islands and killing at least 10 people, as one of the most powerful Atlantic storms in a century took aim at Florida.
Specialty Program Group expands with California buy
Specialty Program Group L.L.C., a holding company for specialty insurance underwriting and managing general agency facilities, has acquired the assets of Monarch E&S Insurance Services.
Hurricane Irma’s toll in the Caribbean coming to light
Preliminary loss estimates for Hurricane Irma in the Caribbean are beginning to emerge, according to a blog post by Paul Wilson, vice president of model development for Risk Management Solutions Inc.
Marsh restructures, appoints management team
Marsh L.L.C. on Thursday announced a new global management structure that includes appointments to its executive management team, effective immediately.
UK to change personal injury payment rate in boost for insurers
(Reuters) — Britain plans to alter the interest rate used to calculate how much in compensation should be paid by insurers for personal injuries, the Ministry of Justice said, in a move to reduce the size of awards as well as the cost of insurance.
Property losses from Harvey could hit $75 billion: AIR
Property losses in Texas due to the flooding caused by Hurricane Harvey’s record-breaking rainfall will be between $65 billion and $75 billion, catastrophe modeler AIR Worldwide said.
Florida car dealers say insurers halt policies ahead of Irma
Insurers including Progressive and Allstate have stopped issuing policies on new cars in certain Florida counties, hindering vehicle sales days before Hurricane Irma is forecast to hit the state.
Wednesday, 6 September 2017
Why John Deere Just Spent $305 Million on a Lettuce-Farming Robot
Sharp-shooting, herbicide-squirting machines from John Deere could cut farmers’ chemical bills.
New America Chair Says Google Didn’t Prompt Critic’s Ouster
In letter to staff, co-chair Jonathan Soros says attack on foundation was ‘result of a targeted communications campaign’
Drone privacy issues concern risk managers
The potential for invasion of privacy when using drones remains the top concern for a majority of risk managers, according to a Munich Reinsurance America Inc. survey.
Hurricane Irma lashes Caribbean, Florida braces for hit
Potentially catastrophic Hurricane Irma clobbered Caribbean islands with pounding winds, rain and surging surf on Wednesday as officials in Florida called for evacuations ahead of the storm’s expected landfall there this weekend.
Commercial insurance rates up in August
Nearly all major commercial insurance lines saw renewal rate increases in August, according to a report released Wednesday by insurance exchange IVANS.
Reader Review: “Less”
by Lola425 (Ridgewood, NJ): Put this on your must read. I read this on vacation a week after turning fifty so I was ripe for Arthur Less’ experiences, but on every page there is something to love. This is a book about the pull of nostalgia, of looking back, because the thought of moving forward is too painful or scary. This is a book about love and what makes a love affair, a marriage, a friendship a success (longevity? intensity?). It is a book about looking at who you are and deciding if you like who that person is and if you don’t do you have it in you to become your best self? And it’s a book where you make fictional friend and wish desperately for him to figure it out.
I loved Arthur from page one and soaked a sleeve of my sweatshirt with tears of sadness and frustration and joy and beauty. I also laughed. Which is how life goes, both tragedy and comedy, and hopefully we all end up like Arthur, with just enough of both.
Fewer 0% deals as vehicles languish on dealership lots
Vehicles sat on dealership lots longer in August than at any point since mid-2009. Even so, the 0 percent financing deals that can spur sales ebbed, Edmunds said.
Atlas Insurance approved as captive manager in Georgia
The Georgia Insurance Department has approved Atlas Insurance Management to act as a manager for captive insurers domiciled in the state.
FandI providers unfazed by GM’s new disclosure form
While some expressed concern about GM’s new disclosure form for non-GM service contracts, FandI providers were unfazed by the requirement and even applauded the automaker.
House passes bill to allow insurance expert to stay on financial oversight council
The U.S. House of Representatives has passed a bill to allow the independent insurance expert to remain on the Financial Stability Oversight Council after the end of his or her term if a successor has not yet been named.
New Wine Study Suggests Cost Influences Perception (Wine Spectator)
Researchers found (again) that people like wine more when they think it costs more—but blame your mind, not the wine
AutoFi, Tricor partner in Canada
AutoFi, a company that automates online vehicle sales and financing, will enter Canada in 2018, partnering first with FandI company Tricor Automotive Group.
China’s Anbang, HNA had sights set on insurer Allianz: Sources
(Reuters) — China’s Anbang Insurance Group and HNA Group both considered buying into German insurer Allianz S.E. this year as part of plans to become global financial powerhouses, people with direct knowledge said.
Tuesday, 5 September 2017
Apple, Microsoft Offer to Defend Dreamers from Deportation
Other tech companies call on Congress to enact DACA into law
Gallagher expands in Scandinavia with Swedish acquisition
Arthur J. Gallagher & Co. on Monday said it has acquired Nordic Försäkring & Riskhantering A.B., based in Gothenburg, Sweden.
Why Trump Should Welcome Dreamers
Brought to the US as children, these immigrants—and hundreds of thousands like them—are what make America great.
Bangladesh central bank sends team to Manila to push for heist money recovery
(Reuters) — Bangladesh’s central bank is sending a team of officials to the Philippines to push for the recovery of more of the $81 million stolen from its account at the New York Federal Reserve last year and routed through a bank in Manila.
Merkel backs class-action lawsuits for diesel car owners
German Chancellor Angela Merkel’s support for collective lawsuits could force Volkswagen to offer to compensate owners of diesel cars in Germany as it has done in the United States over manipulated emissions tests.
The Feds Promised to Protect Dreamer Data. Now What?
Dreamers, or undocumented immigrants who came to the US as kids, fear that the data they gave to the government for protection could put them at risk.
Karen Clark & Co. modelling platform allows real-time hurricane loss tracking
Karen Clark & Co., the Boston-based catastrophe modeling firm, has released the RiskInsight-lite modelling platform, the company said in a statement Monday.
Prosecuting insider trading charges could be easier after appeals court ruling
A divided 2nd U.S. Circuit Court of Appeals ruling will make it easier for federal prosecutors to pursue insider trading cases against company executives, say experts.
Google’s New Street View Cameras Will Help Algorithms Index The Real World
A big jump in the resolution of Google Street View imagery will help the company’s software read street signs and business names
Sunday, 3 September 2017
New GM disclosure form riles dealers
GM dealers could face major penalties, even termination, if they fail to use a new disclosure form for customers who buy non-GM service contracts.
View from the Top: Alan Jay Kaufman, H.W. Kaufman Financial Group
Alan Jay Kaufman, chairman, president and CEO of H.W. Kaufman Financial Group, discusses the E&S market and what the insurance sector needs to do to attract talent.
The Risks of Demonizing Silicon Valley
There’s plenty of pessimism and cynicism in Washington and Wall Street. Don’t let it bleed into the Valley too.
Saturday, 2 September 2017
FCC’s Broken Comments System Could Help Doom Net Neutrality
How spambots, fake names, and 2,000 “John Olivers” wreaked havoc on the net neutrality debate
Friday, 1 September 2017
The Hard Consequence of Google’s Soft Power Over Think Tanks
Emails viewed by WIRED reveal how funding from the tech giant can influence internal dynamics within a think tank.
Retired Crawford exec joins Sedgwick global business development team
Sedgwick Claims Management Services Inc. said veteran insurance industry executive Mike Reeves is joining as global markets executive for Sedgwick International.
Zurich recruits Swiss Re exec as chief risk officer
Zurich Insurance Group Ltd. on Friday said former Swiss Re Ltd. executive Alison Martin will join the company as chief risk officer.
Allianz, Baloise, Cinven among final bidders for Generali’s Belgian unit: Sources
(Reuters) — European insurers Allianz and Baloise Holding and London-based buyout fund Cinven are finalizing rival offers for Generali’s Belgian unit ahead of a Sept. 8 deadline, sources told Reuters.
Thursday, 31 August 2017
Apple’s Real Reason for Finally Joining the Net Neutrality Fight
Why a strong and open internet became “a top thing” for Tim Cook and co.
Mountaintop Garnacha: A Vertical Tasting of Spain’s Aquilon (Wine Spectator)
An 11-vintage vertical tasting of Alto Moncayo Aquilon
Wednesday, 30 August 2017
Harvey moves into Louisiana, rainfall continues
After dumping record rainfall on the Houston area, Tropical Storm Harvey continued toward Louisiana and the Tennessee Valley on Wednesday, spreading rain over a growing geographical area.
Millennials are more bullish on auto loans than Gen Xers were
Millennials are opening auto loans at a 21 percent higher rate than Gen X consumers did at the same age. But millennials are finding alternatives to other types of finance products, such as credit cards, according to a study by TransUnion.
Lenders offer assistance after Harvey
Auto lenders are moving to help Gulf Coast customers affected by Hurricane Harvey, offering payment extensions, redirecting billing statements and taking other steps.
German consumer group plans more compensation cases against VW
(Reuters) — German consumer rights group myRight will appeal against an expected defeat Thursday in its first case seeking compensation from Volkswagen A.G. over its emissions scandal and plans to file more cases soon.
Millennials more bullish on auto loans than Gen Xers were
Millennials are opening auto loans at a 21 percent higher rate than Gen X consumers at the same age. But they’re finding alternatives to other types finance products, such as credit cards, according to a study by TransUnion.
UK insurers need to decide on moving EU policies by November
(Reuters) — Insurers in Britain face crunchtime within weeks if the government and the European Union do not allow millions of cross-border policies to continue to run undisturbed beyond Brexit.
Patties stacked in the battle of the burgers
Double take: In-N-Out Burgers is suing rival Smashburger over its “triple double burger,” which it says customers could confuse with In-N-Out’s signature “double double.”
All Ireland Minor Hurling Final
This Sunday, Cork take on Galway in the All Ireland Minor Hurling Final. Check out our match preview before The Rebel’s’ clash with The Tribesmen.
Making a Tropical Storm Harvey Donation? Go With Cash
As Houston donations rush in, consider not just what to give, but when it can get there.
Do We Need a Speedometer for artificial intelligence?
Measuring how quickly machines are getting smarter could help us prepare for the consequences for society and the economy.
Tuesday, 29 August 2017
Ford Credit will revamp credit-risk model
Ford Credit’s credit-risk model will include nontraditional data, machine learning to give the lender a better view of a car buyer’s likelihood to make payments.
Struggling NFIP staggers under Harvey
Tropical Storm Harvey is going to drive the National Flood Insurance Program even deeper into debt — but how much further is yet to be determined, according to experts.
Navigators names president of specialty casualty
The Navigators Group Inc. has promoted Tim Ryan to the new position of president of specialty casualty.
One more punch in Mayweather-McGregor fight
The Floyd Mayweather and Conor McGregor fight is not over yet: The latest blow comes in the form of a potential class action lawsuit against Showtime Networks, which one boxing fan claims failed to deliver high-definition streaming as promised.
Tax ruling provides insights on captive structures
A long-awaited U.S. Tax Court ruling on 831(b) captives, seen as an IRS victory, should not have a direct effect on larger, well-managed captives, but it does provide insights into the judge’s reasoning that other captive owners should review.
Harvey Shows Progress on Emergency Communications Since Katrina
As Hurricane Harvey wreaks havoc on Southeast Texas, crucial cellular networks remain largely stable, reflecting progress since Katrina.
Sculpting lower body circuit
Carve your buns, quads, and hamstrings (plus a little bit of core) with this killer lower-body circuit courtesy of trainer Joni Ortiz.
Power through the exercises quickly using your own bodyweight, or take it at a slower, harder pace by adding a set of dumbbells into the mix.
Model/Trainer: Joni Ortiz // Photography: James Patrick
This lower-body circuit is great for strengthening and toning your lower body and, considering some of the largest muscles of the body can be found in your legs, you get the added bonus of serious calorie burn.
Complete 15 repetitions of each exercise with good form before moving on to the next exercise. Complete each exercise back-to-back with no rest in-between to ensure your heart rate is kept high. At the end of the circuit, rest for 30 seconds (advanced) to 1 minute (beginner), before starting the circuit again. Four rounds.
Forward lunges
Stand holding your dumbbells by your side (if you have them) and step forward, lowering your back knee down to the ground and keeping your front knee in alignment with your ankle. Push through your heel back into standing position. Repeat for 15 reps, alternating legs.
Good morning – squat Rotation
Start in a standing position. Move into a good-morning with a slight bend in your knees, hinging at the hip and with your back straight. From here, sit back into a squat (hold this for a couple of seconds) and then move back into a good morning. Return to a standing position. This is one rep. Repeat for 15 reps, moving at a moderate to quick pace.
Single-leg deadlifts
Start in a standing position, holding dumbbells at your sides. Shift weight onto one leg, lower dumbbells down, keeping a slight bend in the stationary leg, while kicking alternate leg back. Upon rising, push through the heel and squeeze your glute muscle for two seconds before lowering back down. Repeat.
Bench step-ups with kickback
Stand facing a bench. Step up with your right foot and kick your left leg back at the highest point of the movement, squeezing your glute. Step back down to the ground and repeat with your opposite leg. Alternate legs until you have completed 15 reps.
Spiderman plank
Begin in plank position, holding dumbbells. Bring your right knee towards your right elbow with a slight squeeze in your oblique, before returning back to plank position. Repeat on your left side and alternate sides until you have completed 15 reps.
Bench jumps
Stand facing the bench. Squat down and jump up onto the bench into a squatted position. Think ‘light knees’ – you should not be banging into the bench with force, as this puts undue pressure on your joints. Step back down to the ground and repeat until you have completed 15 reps.
Alien squats
Get into a squat position with knees wide. Kick feet out without raising your upper body, before moving back down into the squat position. Repeat for 15 reps. This exercise should be completed quickly for best results.
Single-leg variation (lunge – kickback)
In standing position, shift weight to one leg, move into single leg lunge and, upon rising, kick alternate leg back. Move back into standing position before completing the same movement on the opposite leg. Alternate legs until 15 reps are complete. Remember to move quickly through the movement.
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Monday, 28 August 2017
New Uber CEO Khosrowshahi Knows Many Tricks—He’ll Need Them All
Expedia CEO Dara Khosrowshahi will take over the scandal-plagued ride-hailing company, the world’s most valuable startup
Half-baked Subway ‘footlong’ class action tossed
Using harsh language, a federal appeals court has dismissed a class action settlement over the length of Subway’s “footlong” sandwiches as “utterly worthless” and benefiting only plaintiff attorneys.
Reader Review: “Our Souls at Night”
by Judith Bates: This is a short book, only 179 pages, and it is Kent Haruf’s last book before he passed away and, of course, it takes place in Holt, Colorado. I think this is the best of his books,, although they are all good! It is a story about two senior people who have been "sort of friend" for many years. She knew his wife, but they were not close friends. Both his wife and her husband have passed away. This is a story that will make you happy and sad! It is undoubtedly one of the best stories I have ever read! It is a story about two people who "find" each other; there is happiness and sadness! Read it you will like it! It is the perfect story!
Woman fakes death several times to collect life insurance
Claiming she was “addicted to money,” a New Zealand woman faked her death three times in an attempt to collect nearly $3 million in insurance money, New Zealand’s news web site Stuff reported on Monday.
Win Tickets To The All Ireland Hurling Final
We have a pair of tickets to this year’s All Ireland hurling final up for grabs. Continue reading to find out how to enter this fantastic competition. T&Cs apply.
Houston crippled by catastrophic flooding with more rain on the way
(Reuters) — Houston is facing worsening historic flooding in the coming days as Tropical Storm Harvey dumps more rain on the city, swelling rivers to record levels and forcing federal engineers to release water from area reservoirs.
Sunday, 27 August 2017
Friday, 25 August 2017
Court switches excess insurer in wrongful murder conviction case
A federal appeals court has overturned a lower court ruling in an insurer dispute and held that a Selective Insurance Group Inc. unit is obligated to pay $3.25 million of excess coverage in a settlement in connection with the wrongful arrest and conviction of an Ohio man for rape and murder.
VW engineer sentenced to 40-month prison term in diesel case
(Reuters) — A federal judge in Detroit sentenced former engineer James Liang to 40 months in prison for his role in Volkswagen’s multiyear scheme to sell diesel cars that generated more pollution than U.S. clean air rules allowed.
Wine Magic in the Mountains (Wine Spectator)
Little Nell in Aspen celebrates 20 years of Grand Awards
Ford Credit will revamp its credit-risk model
Ford Credit’s credit-risk model will include nontraditional data, machine learning to give the lender a better view of a car buyer’s likelihood to make payments.
Energy insurer asks S&P to withdraw ratings
Oil Casualty Insurance Ltd. on Friday said it has asked S&P Global Ratings Inc. to withdraw its financial ratings after the agency gave the insurer a negative outlook.
Insurance dispute in college football case might settle: Filing
Insurance coverage litigation stemming from a putative class action lawsuit filed by a former college football player who is suffering from memory loss could be headed for settlement, according to papers filed in a federal court.
Thursday, 24 August 2017
Dismissal of AutoZoners claims adjuster’s bias charges upheld
A federal appeals court has upheld dismissal of age, race and gender discrimination and retaliation charges filed by a former claims adjuster in AutoZoners L.L.C.’s risk management department.
Zone boarding exposes first-class passengers to extra germs
It’s one of those rare instances where first-class passengers, with their pre-flight cocktails and cloth napkins, have it the worst.
Wells Fargo cedes U.S. auto-lending crown to Ally amid car glut
Wells Fargo’s decision months ago to pull back from making new auto loans cleared the way for Ally Financial to become the auto industry’s biggest source of funding.
The Day I Found Out My Life Was Hanging by a Thread
Startup CEO Matt Bencke, 45, thought he’d thrown out his back. Then he went to the ER and received the most sobering news of his life.
Wednesday, 23 August 2017
Damore Case Could Spawn More Legal Headaches for Google
Fired Google engineer and his lawyer say others claim discrimination for political views
Google and Walmart’s Partnership Will Be a Real Test For Amazon
If anyone can take a bite out of Amazon, it’s the combined forces of Walmart and Google.
Travelers must defend policyholder in defamation suit: Court
A Travelers Cos. Inc. unit is obligated to defend an investment fund being sued by Dov Charney, the controversial former chief executive of American Apparel Inc., in a defamation case.
Car supermarkets are a step backward
The future of vehicle retail and FandI could take a variety of forms, but another type of brick-and-mortar store would be an unexpected route. Advancements toward an online transaction would serve the industry better.
Chinese court awards New Balance $1.5 million in trademark case
(Reuters) — A Chinese court has ordered three domestic shoemakers to pay more than 10 million yuan ($1.5 million) to New Balance Athletics Inc. in damages for infringing the U.S. sportswear company’s signature slanting logo.
Class action against Volvo over hybrid car mileage reinstated
Citing an earlier U.S. Supreme Court ruling — and stating it was relying on information known to “any first-year law student” — an appeals court reinstated a putative class action suit against Volvo Cars of North America that claims ads for its hybrid car are misleading.
FICO arms lenders with assorted deal offers in seconds
Lenders on FICO’s new platform provide dealers with multiple offers from the get-go, potentially eliminating the back and forth with dealers to achieve a customer’s perfect deal structure, the company says.
One-Time Allies Sour on Joining Trump Tech Team
Obama welcomed a new generation of techies to the White House. Now, some fear such gains may be erased under Trump.
Employers advised to delay injury data filings in wake of security breach
A potential security breach of the U.S. Occupational Safety and Health Administration’s web-based form to allow employers to electronically submit required injury and illness data has validated employer concerns about the agency’s ability to secure and protect the information and has lawyers advising their clients not to file the reports until right before the deadline.
Tuesday, 22 August 2017
Embracing the committed online shopper
Raymond Auto Group in northern Illinois has embraced the “shop, click and buy” approach. It took some work.
Marketing firm prevails in contract fight with Yahoo
A federal appeals court has reversed a lower court ruling and awarded $4.4 million to a marketing firm in a contract dispute with Yahoo over a basketball promotion that indirectly involved Warren Buffett and Berkshire Hathaway.
Aon D&O insurance clients see continued rate reductions
The price per million in directors and officers liability insurance limits for Aon Risk Solutions clients that renewed in both the first quarter of 2017 and 2016’s first quarter decreased an average of 4.4%.
Ironshore launches emergency response team for cyber claims
Ironshore Inc. on Tuesday said it is launching a computer emergency response team, or CERT, to manage cyber claims across all product lines.
Busier Atlantic hurricane season forecast
The Weather Co. increased its 2017 hurricane forecast to 17 named storms and nine hurricanes due to warmer water temperatures in the Atlantic.
No clear resolution in Fair Credit Reporting Act case
The issue of when plaintiffs have the right to sue under the Fair Credit Reporting Act for injury may still not be settled despite a U.S. Supreme Court ruling and a subsequent rehearing by a federal appeals court on remand.
Why It’s So Hard to Define What Online Hate Speech Is
Why did YouTube remove a World War II video? Because algorithms, and humans, are flawed
Employers within rights to fire Charlottesville marchers
Private-sector employers are generally within their rights to fire or discipline employees for expressing views that could create a hostile work environment or damage the employer’s reputation even if the employees are exercising their First Amendment free speech rights on their own time, as thousands did in Charlottesville, Virginia, earlier this month.
Monday, 21 August 2017
Sorry, Banning ‘Killer Robots’ Just Isn’t Practical
Elon Musk and others seek restrictions on use of autonomous weapons
4 Superfoods You Should Eat
Are you looking to improve your diet? Our blog provides a list of 4 superfoods that will not only help with your diet but should also improve your lifestyle.