In a significant move aiming to revolutionize financial planning for both advisors and clients, Luma Financial Technologies has rolled out a cutting-edge life insurance platform. This advancement underscores the escalating need for a seamless blend of life insurance and annuity solutions, especially as over half of U.S. adults currently hold life insurance policies. Luma’s initiative targets the unification of these
Vitesse, a prominent global treasury and payment provider for the insurance industry, has recently achieved a significant milestone with the approval from the New York State Department of Financial Services (NY DFS) to establish Vitesse Trust Company, LLC in New York City. This approval heralds the beginning of Vitesse’s operations in the United States, taking advantage of its successful track
Skyward Specialty Insurance Group, Inc. has launched an innovative and specialized insurance product specifically designed for the life sciences sector, addressing the industry’s unique and complex risks associated with innovation, emerging technologies, and regulatory changes. As a leader in the specialty property and casualty insurance market, Skyward Specialty aims to provide comprehensive protection tailored to the nuanced needs of life
Envision a scenario where an organization’s procurement, operations, and supply chain departments are empowered with improved vendor risk management, with seamless integration of technologies that bolster cybersecurity and insurance solutions. This is precisely the goal achieved by the innovative partnership between Kayna, WTW, and Vibrant. By integrating Kayna’s technology into WTW-brokered insurance distribution and utilizing Vibrant’s cybersecurity oversight platform, this
Navigating the often convoluted landscape of car insurance is a challenge many drivers are all too familiar with, but a new partnership between Mercedes-Benz Insurance Services UK Limited and Wrisk aims to transform this sector through pioneering innovation. This collaboration marks a significant shift towards a more personalized, user-friendly car insurance experience, leveraging Wrisk’s highly advanced digital platform to offer
Recent developments have emerged from the U.S. Department of Labor (DOL) related to the Family and Medical Leave Act (FMLA), clarifying that employees engaged in clinical trials could be entitled to take leave under this legislation. This recent clarification, issued in a Nov. 8 opinion letter, addresses concerns raised by an organization working towards a cure for a long-term, severe
In a recent development, Liberty Hill Equity Partners LLC, operating under the name Precision Vehicle Holdings in Indiana and Michigan, was mandated by the U.S. Department of Labor (DOL) to pay over $56,000 in back wages and damages. The company had miscalculated overtime pay for 234 employees by failing to include nondiscretionary bonuses in their regular pay rates. This miscalculation
The recent controversial ruling by a National Labor Relations Board (NLRB) administrative law judge sent ripples through the labor rights community by determining that Trader Joe’s unlawfully prevented employees at its Hadley, Massachusetts store from wearing union insignia on their uniforms. This judgment, stemming from events leading up to a 2022 unionization vote, underscored the protection employees have under the
In a landmark decision that has sent ripples through the world of employment law, a Texas federal judge has struck down the U.S. Department of Labor’s (DOL) 2024 overtime rule. This controversial rule was set to raise the threshold for overtime eligibility from $35,568 to $43,888 by July 1, 2024, and further to $58,656 by January 1, 2025. U.S. District
In a significant move, the U.S. Department of Labor (DOL) issued an opinion letter on November 8, 2024, that clarifies just how employers should handle expense reimbursements when calculating an employee’s regular rate of pay for overtime purposes. This opinion comes as a response to an inquiry from an oil and gas industry employer who sought guidance on the reimbursement
In a landscape increasingly driven by technological advancements and efficiency demands, Covr Financial Technologies’ Advisor 3.0 emerges as a transformative force in the insurance industry. The advanced digital insurance platform aims to revolutionize how financial professionals handle insurance processes, addressing the growing need for streamlined workflows. By significantly reducing case processing times by an average of 10 days, Advisor 3.0
Luma Financial Technologies has embarked on an ambitious expansion into the life insurance sector with a groundbreaking end-to-end platform that integrates life insurance and annuities under one cohesive system. This innovative solution represents the first of its kind, enabling financial advisors to manage both product types seamlessly through a single platform. With more than half of U.S. adults holding life
