Banking & Financial Services News on Business Daily

Two hotels and four restaurants have recently been added to AAA's prestigious Five Diamonds list. Among them are Emeril’s in New Orleans, Louisiana, Jungsik in New York, New York, Le Hatley Restaurant in North Hatley, Quebec, Canada, Mandarin Oriental Boston in Boston, Massachusetts, Mugen in Honolulu, Hawaii, and Raffles Boston, also located in Boston, Massachusetts.In a statement, AAA highlighted the significance of the Five Diamond designation, stating that they offer "ultimate luxury and leading-edge cuisine." This recognition is reserved for establishments that excel...

Fires resulting from lightning strikes cause a significant portion of commercial property insurance claims in the United States. Tim Harger, executive director of the Lightning Protection Institute (LPI), emphasized the importance of protecting businesses from the destructive consequences of lightning strikes, stating, "The potential consequences, such as business interruption, loss of revenue, and damage to reputation, can be devastating." He highlighted the significance of investing in a lightning protection system to prevent business interruption and safeguard...

Seventy-nine agricultural educators have been named finalists for the 2023-2024 Golden Owl Award, a prestigious recognition in the field of agricultural education. The finalists were selected from a pool of over 1,100 nominations across 11 states, including California, Illinois, Indiana, Iowa, Kansas, Missouri, Nebraska, New York, Ohio, Pennsylvania, and South Dakota.According to Brad Liggett, president of Agribusiness at Nationwide, "As the need grows for more ag educators across the nation, we are proud to thank and honor these hardworking agricultural teachers for...

WASHINGTON, D.C. (April 25, 2024)—With domestic gasoline demand decidedly in the doldrums and the cost of oil retreating, the national average dipped two cents since last week to $3.65.Andrew Gross, spokesperson for AAA, noted, "Domestic gas demand is pretty pokey at the moment, which is often the case in the runup to Memorial Day and the traditional start of summer driving season."Gross also added, "The recent national average price of $3.67 could be the peak until hurricane season is well underway. But as always, the wildcard will be the cost of oil, so stay tuned."...

Washington, DC (April 25, 2024) – Raising speed limits on highways could lead to more crashes on nearby roads, according to new research by the AAA Foundation for Traffic Safety. Dr. David Yang, president and executive director of the AAA Foundation, emphasized this point by stating, “Increasing posted speed limits on freeways may improve traffic flow but could also lead to safety concerns in adjacent communities once speeding drivers proceed to neighboring roadways.”The study conducted by AAA Foundation researchers focused on the impact of speed limit changes on...

Nationwide has announced the launch of its Dynamic Default feature, aimed at speeding up the adoption of in-plan protected retirement solutions by allowing plan sponsors to automatically default participants into a protected retirement solution. Eric Stevenson, President of Nationwide Retirement Solutions, stated, "We’re really starting to see a lot more employers become more comfortable offering protected retirement solutions, and we believe offering them through dynamic default will be the next generation of retirement plan auto features."The implementation of the...

Morgan Stanley Wealth Management has announced the 2024 MAKERS Class, a group of 11 outstanding professionals dedicated to advancing women and breaking barriers within the firm. Jed Finn, Head of Wealth Management at Morgan Stanley, expressed the importance of celebrating leaders committed to supporting women, mentoring, and driving positive change. He stated, "At Morgan Stanley, we believe it’s important to share and celebrate the stories of our leaders who are committed to advancing women, mentoring and breaking barriers. The MAKERS program, a powerful tradition at our...

Nationwide, a leading provider of pet insurance, has conducted an analysis of its database to identify the most common medical conditions that prompt veterinary visits. The company's database comprises more than 1.2 million insured pets, and the study was aimed at helping pet owners understand and prepare for the costs associated with these common conditions.

A Catastrophe Response Unit (CRU) is being deployed to Rock Hill, SC, to setup a temporary drive-in for vehicle damage assessment and will offer appointments every 30 minutes. This initiative aims to streamline the assessment process for customers affected by recent events in the area.Customers who have already filed a claim and wish to schedule a drive-in appointment can contact their claim representative to discuss inspection options. This personalized approach ensures that individuals can easily access the support they need during this challenging time."Our Claims...

Bankrate has reported that drivers in Nevada are paying an average of $973 per year for minimum coverage auto insurance and $2,779 for full coverage. These rates are significantly higher than the national average, which stands at $2,014 annually for full coverage and $622 for minimum.

Graystone Consulting, a business of Morgan Stanley, has once again been recognized for its excellence in the financial services industry. The company announced that it has been named a Quality Leader for the third consecutive year by Coalition Greenwich in Overall U.S. Investment Consulting among large consultants.Jeremy France, Head of Institutional Consulting Solutions at Morgan Stanley, expressed his pride in the achievement, stating, “Our clients are at the heart of Graystone, and we focus on bringing them the best of what our organization offers – boutique-level...

The Linden neighborhood in Columbus, Ohio, is set to undergo a transformation with the remodeling of the Columbus Metropolitan Library’s (CML) Linden Branch. The project, which will more than double the size of the current library branch, kicked off with a ceremonial "wall breaking" event on April 17, 2024.Ralph Carter, the founder of We Are Linden, a non-profit organization dedicated to empowering the community, expressed his enthusiasm for the project, stating, “It’s going to be a great thing. We need places like this as a safe haven. That’s one of the biggest things...

Nationwide Chief Innovation and Digital Officer Chetan Kandhari recently addressed the key questions surrounding innovation in the insurance industry. In a podcast episode titled "The Future of Insurance," Kandhari pondered, "How does a Fortune 100 company innovate in a highly regulated industry? And where, and where doesn’t it, make sense to implement generative artificial intelligence?"Kandhari's insights shed light on Nationwide's strategic approach to innovation in an industry known for its stringent regulations and traditional practices. The discussion delved into...

The Resilient Waters Fund team from the University of Utah's David Eccles School of Business emerged as the winners of the 14th annual Kellogg-Morgan Stanley Sustainable Investing Challenge. Their proposal to save Utah's Great Salt Lake earned them the top prize of $10,000. The fund aims to protect the Great Salt Lake by catalyzing funds through a creative land trust mechanism, promoting irrigation efficiency, responsible cropping, and water savings.Jessica Alsford, Morgan Stanley’s Chief Sustainability Officer and CEO of the Institute for Sustainable Investing,...

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,...

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...

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 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...

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...

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...