While there have been quite a few attempts recently to remove some consumer protections such as delaying the implementation of the final phase of the DOL Fiduciary Rule while Trump consumer protection chief requests $0 in funding for the Consumer Financial Protection Bureau in 2018 (last year, $217.1 million was requested). The CFPB doesn’t currently … Read more
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Should An Insurance Company Be Required to Tell You If You’re Underinsured? Well, this is a challenging one. Many homeowner’s have found out that they were not covered for damage from floods under their traditional homeowner’s insurance policy and would only be covered if they had a flood policy. For those homeowner’s who live in … Read more
Change is coming slowly to the insurance industry and while 2017 showed much movement, 2018 will be the year that brings the next step in evolution for the insurance industry. In this post, I pose some of the questions and possible answers for the insurance industry this year. 1) Will this be the year that … Read more
We all purchase auto insurance, yet many of us, myself included, don’t always review it on a regular basis. This is more important than ever since auto insurance premiums are rising four times faster than the overall rate of inflation. Getting the optimal insurance for your dollar is the goal. Consumer Reports has released New … Read more
Over the last few year’s there has been much discussion about how insurance agents and (other member’s of the financial services industry) should align with those of consumers. Under a commission based compensation system, there is always a financial incentive for an insurance policy (or investment) to be recommended that will result in higher compensation … Read more
Open Enrollment for the majority of Americans who use Healthcare.gov closes on December 15, 2017. There is some question as to the effectiveness of the cut in funding by the Trump administration to promote ACA open enrollment to provide in person assistance, however a study by the Kaiser Family Foundation conducted in early November shows … Read more
At the time of the writing of this newsletter, the Senate had not yet voted on the proposed tax bill, though it appears they have the votes and will vote shortly. Keep in mind that if the bill passes the Senate, it will need to reconciled with the bill that passed the House which has … Read more