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Ft Mac & Insurance Losses

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First, our thoughts and prayers are with the families and firefighters dealing with the horrendous fires in Alberta. One can only imagine their heartache and fear. Many (most?) of those affected will be insured. This includes home and business owners, those with private passenger cars and large commercial vehicles, and everything in between. Hopefully, there won't be too many life insurance claims. In a surprising (to me, at least) development, it turns out that the insured losses from these fires will likely hit Canada's economy even worse than Katrina affected ours: " Intact Financial Corp. may post insured losses of as much as C$1.1 billion ($850 million) from the wildfires in Alberta, which could dent the Canadian economy harder than Hurricane Katrina hit the U.S. " Canada's economy is, of course, smaller than ours (at least for now), so this makes sense. It also occurs to me that a lot of Katrina's losses were flood-related, and not everyone had flood ins...
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SEP Clarification

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The folks at CMS (Centers for Medicare & Medicaid Services) emailed to let us know that they have an updated list of the 6 Special Enrollment Period triggers. These are all pretty routine, but I thought this was interesting. Moving to a new location to live has always been a legitimate trigger, and apparently enough folks used that as a way to game the system that the Rocket Surgeons in DC� have finally figured it out: " Note : Starting July 2016, you must prove you had qualifying health coverage for one or more days in the 60 days before your move, unless you�re moving from a foreign country or United States territory. Also, moving only for medical treatment or staying somewhere for vacation doesn�t qualify you for a Special Enrollment Period ." Who says bureauweenies have no sense of humor?
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Breaking: TransAmerica UL Lawsuit

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This will be very interesting to follow: " Universal life insurance policyholders behind a multimillion-dollar class action are asking a Miami federal judge to stop Transamerica Life Insurance Co. from drastically raising their monthly charges ." Why? Because the carrier has taken a major beating on investment income [ ed: no kidding ] and is raising the internal costs of its Universal Life insurance policies to make it up. I've never written a TA UL, so I can't speak for that carrier, but I suspect that this lawsuit will gain exactly zero traction. Why's that, you ask? Because the nature of the UL beast is such that the carrier has a built-in CYA clause in the form of a published table of maximum rates which they're allowed to charge. Depending on how TA's plans are written, it's likely that this gives them all the "permission" they need to increase rates to that maximum. And they really have no choice: these contracts promise a minimum in...
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