News on Business Daily

Nationwide, a Fortune 100 insurance and financial services mutual, recently celebrated the achievements of its innovative employees who have been actively inventing and patenting novel solutions. The company recognized 39 Nationwide inventors at the inaugural Nationwide Patent Award Ceremony, acknowledging their combined 55 patents and 21 patents pending from the U.S. Patent and Trademark Office.“Invention is the most important product of man’s creative brain,” wrote Nikola Tesla, emphasizing the significance of innovation in shaping the world. Tesla further highlighted,...

Business Life Insurance Solutions for Turbulent Times

In a recent podcast, Nationwide Chief Economist Kathy Bostjancic and Nationwide Business Solutions Group Vice President Jessica Dowdy discussed how business life insurance can assist business owners in navigating the challenges of the current economic and labor markets. Dowdy highlighted the importance of solutions like corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI) in addressing these issues.Dowdy emphasized the impact of the COVID-19 pandemic on business owners, stating, “Business owners are still reeling from the impacts of COVID, facing...

SBA Announces National Small Business Week Virtual Summit Schedule

WASHINGTON –Today, the U.S. Small Business Administration (SBA) and SCORE, mentors to America’s small businesses and a resource partner of the SBA, announced the schedule for the 2024 National Small Business Week Virtual Summit. The two-day online event, co-hosted by the SBA and SCORE, will take place from April 30 to May 1. Attendance is free of charge, but registration is required. To register, visit National Small Business Week Virtual Summit registration.This year’s National Small Business Week’s theme – “Building on the Small Business Boom” –celebrates the surge in...

Insurance Capital Adequacy Criteria: Expected Impact Post-UCO Resolution

On November 15, 2023, revised insurance risk-based capital adequacy criteria were released, assigning a UCO identifier to ratings that could potentially be affected by the change. This designation was used to highlight the possibility of a rating action on specific issuer and issue ratings. A UCO identifier was assigned to one or more ratings on 63 issuers, their subsidiaries, or related issues.

Is the Recent Climb in the Price of Gas About to Stall?

WASHINGTON, D.C. (April 18, 2024) - Lackluster domestic demand for gasoline paired with decreasing oil prices led to the national average for a gallon of gas climbing just four cents to $3.67 since last week. With tensions running high over the past three weeks in the Middle East, the cost of oil reached the upper $80s per barrel. However, it has since fallen several dollars into the low $80s as the oil market watches to see if any further military actions occur."The situation overseas with war in both the Middle East and Ukraine has the oil market on edge," said Andrew...

Morgan Stanley Wealth Management Pulse Survey Reveals Bullish Sentiment Despite Drop in Optimism

Morgan Stanley Wealth Management today announced results from its quarterly individual investor pulse survey, revealing that despite a drop in optimism, bullish sentiment remains strong among investors. According to the survey, three out of five investors (60%) are bullish this quarter, consistent with the previous quarter.Chris Larkin, Managing Director, Head of Trading and Investing at E*TRADE from Morgan Stanley, commented on the market trends, stating, “The US stock market is coming off one of its strongest first quarters of the past 20 years, and so it should not be...

Allstate Announces March and First Quarter 2024 Catastrophe Losses and Implemented Rates

NORTHBROOK, Ill., April 18, 2024 – The Allstate Corporation (NYSE: ALL) released information regarding their March and first quarter 2024 catastrophe losses and implemented rates.According to the Allstate Corporation, the March month catastrophe losses totaled $328 million or $259 million after-tax. These losses stemmed from six events, with the majority of the losses, approximately 80%, attributed to one hail event. These losses were partially offset by favorable reserve reestimates for prior events.The total catastrophe losses for the first quarter of 2024 amounted to...

Allstate Customers Using Safe Driving App Have 25% Fewer Severe Collisions

NORTHBROOK, Ill., April 17, 2024 – Allstate customers who opt into the Allstate app's safe driving features are experiencing a significant decrease in severe collisions. According to Allstate and its mobility data and analytics partner Arity, those who choose to use Drivewise are 25% less likely to have a severe collision than those who don't. Driving behavior research from Arity also indicates that Drivewise customers exhibit safer driving habits compared to other connected drivers, handling their phones less, speeding less, and hard braking less by as much as 44%.Ginger...

Peter Pan Pups: Unveiling Lifelong Health Risks in Canine Breeds with Persistent Puppy Behaviors

Nationwide's Chief Veterinary Officer, Dr. Jules Benson, recently analyzed data from more than 22 million pet insurance claims to unveil some surprising trends regarding certain dog breeds. Dr. Benson noted that some breeds, known as "Peter Pan pups," retain puppy-like behaviors well into their mature and senior years, which can lead to specific health risks.Dr. Benson stated, "Some dog breeds continue to submit claims for what we might think of as ‘silly puppy’ conditions – including trauma, foreign body ingestion, and toxicity – well into their mature and even senior...

Progressive Insurance® Announces 2023 Priority 20 Agents

Progressive Insurance has announced the list of agents who achieved a Priority 20 standing in 2023. Tricia Griffith, CEO of Progressive, expressed her excitement in celebrating with the high-performing agents who made the list. She stated, "When I received the latest list of agencies that achieved Priority 20 status based on their 2023 business results, I was so excited to celebrate with them. This prestigious award is a testament to the dedication and remarkable achievements of these independent agents. They have truly taken our partnership to new heights, showcasing...

Progressive Insurance® Recognizes 2023 Platinum 25 Agents

Progressive Insurance CEO, Tricia Griffith, expressed her delight in recognizing the top 25 Progressive Platinum Program Blue-level agents who achieved a Platinum 25 standing in 2023, stating, “Once again, I’m delighted to recognize our newest class of Platinum 25 honorees.” She commended these agents for their commitment to building their preferred bundled home and auto business with Progressive while providing exceptional service to customers, saying, “We’re honored to welcome this year’s class and applaud their achievements.”The 2023 Platinum 25 agents include Couri...

Nationwide Announces 2024 Wacky Pet Names Winners

Nationwide has announced the winners of the 2024 Wacky Pet Names campaign. According to Nationwide, "Congratulations to Molly from Corporate, Tony “Scarface” Baloney and Thor Odinbun, God of Bunder for their first-place finishes in the dog, cat and exotic pet name categories, respectively."The annual competition by the nation’s pet health insurance leader recognizes the most unique and clever names among its roster of over 1.2 million protected pets. The top 10 wackiest dog, cat, and exotic pet names were put to a public vote that ran from April 9-12.In celebration of...

Morgan Stanley Reports First Quarter 2024

Morgan Stanley Reports First Quarter 2024Morgan Stanley has announced that a conference call to discuss the results of the first quarter of 2024 will be held on April 16, 2024, at 9:30 a.m. (ET). The call will be available both live and on-demand via webcast on their website in the Investor Relations section.In a statement, Morgan Stanley emphasized the importance of respecting the copyright of their presentation, stating, "IMPORTANT INFORMATIONThis presentation by Morgan Stanley is copyrighted and proprietary, and all rights are reserved. Any recording, rebroadcast or...

Tech Thwarts Flames, Averts Catastrophe

Thomas, a member of his local fire department, recently shared his experience with a Ting electrical fire monitoring device that detected an electrical problem in his home. According to Thomas, "The detection of an arching problem, when electricity 'jumps' across a tiny gap in a connection, was discovered by this device and allowed for immediate action to take place."Ting, a device that monitors the electrical network of a home, has been successful in preventing potential fires. It has detected over 500 fire hazards and alerted homeowners before a fire ignites, as...

Younger Travelers Driving Surge in Live Event Travel, Survey Shows

COLUMBUS, OH (April 16, 2024) – A new study conducted by AAA and Bread Financial has revealed that younger generations are significantly impacting the landscape of live event travel. According to the survey, approximately three in five Gen Z and Millennial respondents have either traveled or plan to travel for in-person events like concerts, sporting events, comedy shows, and book readings that are more than 50 miles from home.The study found that younger travelers are willing to go the extra mile, with more than half of Gen Z travelers opting for plane travel and a...

Goldman Sachs to Redeem Depositary Shares Representing Series K Preferred Stock