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Gene Boehm Named President and CEO Designate of AAA, Inc.

ORLANDO, Fla., (Feb. 22, 2024) – AAA has announced the appointment of Gene Boehm as the President and CEO Designate for AAA, Inc., effective April 1. In his new role, Boehm will be leading the national team that supports the federation of AAA clubs and its over 57 million members in the United States."I am honored that the AAA Board and selection committee have entrusted me with the incredible responsibility of leading the gold standard of brands," said Boehm. "Marshall leaves an impressive legacy for his dedication to AAA’s mission serving members, and I am committed to...

Cam Heyward Reflects on Winning Walter Payton Man of the Year

Pittsburgh Steelers defensive lineman Cam Heyward has recently been named the 2023 Walter Payton NFL Man of the Year presented by Nationwide. In an interview, Heyward shared insights into his charitable work, particularly with The Heyward House. Heyward expressed his gratitude for the recognition, stating, "We caught up with the 13-year NFL veteran to discuss his work with The Heyward House."During the award ceremony, Heyward had a memorable encounter with another esteemed figure from the Pittsburgh Steelers franchise. The article mentions that Heyward was able to share a...

Gas Prices Surge as Refinery Shutdown Causes National Average to Rise

Gas prices in the United States have experienced a sudden surge, with the national average for pump prices increasing by 12 cents in just one week. This rise comes after months of relatively stable prices, prompting concerns among consumers. One of the primary factors contributing to this sudden increase is the shutdown of the BP-Whiting refinery in Indiana. The refinery, which processes 435,000 barrels of crude oil per day, has been offline for over two weeks due to a power outage. As a result, prices in the Midwest region have skyrocketed, subsequently pushing the...

Reverse Automatic Emergency Braking Systems Show Mixed Results in AAA Research

Recent research conducted by AAA examined the performance of reverse automatic emergency braking (AEB) systems in four popular 2023 model-year vehicles equipped with rear cross-traffic mitigation. The study aimed to assess the effectiveness of these systems in preventing collisions while backing out of a parking space and encountering a stationary child pedestrian.In the backing-up scenarios, the reverse AEB systems automatically applied brakes in 65% of test runs and prevented a collision in 2.5% of test runs when a subject vehicle crossed behind the test vehicle. When a...

Allstate Announces $276 Million Catastrophe Losses and Implemented Rates

The Allstate Corporation has revealed that it experienced estimated catastrophe losses of $276 million in the month of January 2024. After-tax, these losses amounted to $218 million. The majority of these losses were driven by two events, which accounted for approximately 80% of the total losses. However, these losses were partially offset by favorable reserve reestimates for previous events.In light of these losses, Allstate continues to pursue rate increases in order to improve profitability in its auto insurance sector and keep up with loss cost trends. Jess Merten,...

Walter Payton NFL Man of the Year nominees gather in Las Vegas to make a difference

Las Vegas, Feb 15, 2024 - Amidst the excitement of the recent Super Bowl between the Kansas City Chiefs and the San Francisco 49ers, a group of 32 NFL players took time out of their busy schedules to make a lasting impact on the lives of some fortunate children. The players, all nominees for the prestigious Walter Payton NFL Man of the Year award, visited the Donald W Reynolds Boys and Girls Club in Las Vegas, providing an unforgettable afternoon for the young attendees.The Walter Payton NFL Man of the Year award recognizes players who have made significant contributions...

A broken pipe can break the bank, who is responsible for service line damage?

A recent survey conducted by Nationwide reveals that many homeowners are unaware of the potential financial burden they may face when it comes to service line damage. Contrary to popular belief, utility companies are not always responsible for the repair of service lines that run into homes. This means that homeowners may be left to foot the bill for repairs if these lines are damaged or break.According to the survey, 32% of homeowners mistakenly believe that service line coverage is included in their standard home insurance policy. However, this coverage is not...

Nationwide Teams Up with Columbus Fury for Club’s Inaugural Season

Nationwide has announced a partnership with the Columbus Fury, a member club of the new Pro Volleyball Federation, to sponsor the team's inaugural season. Ramon Jones, Executive Vice President and Chief Marketing Officer for Nationwide, expressed the company's excitement about the collaboration, stating, "The introduction of the Columbus Fury is an exciting addition to Columbus’ sports scene, and Nationwide is happy to be part of this milestone moment for women’s professional volleyball."Dr. David Paitson, CEO of the Columbus Fury, also shared his enthusiasm about the...

Allstate CFO to Present at Raymond James Annual Institutional Investors Conference

NORTHBROOK, Ill., Feb. 14, 2024 – The Allstate Corporation (NYSE: ALL) has announced that Jess Merten, the company's Chief Financial Officer, will be presenting at the Raymond James Annual Institutional Investors Conference on Monday, March 4. The presentation is scheduled to take place at 7:40 a.m. Central time.This conference is an important event for institutional investors, and Allstate's participation underscores the company's commitment to keeping its stakeholders informed about its financial performance and strategic direction. The presentation by Jess Merten will...

Nationwide's Universal Life Website Receives Top Recognition for Customer Experience

Nationwide's universal life website has been recognized for providing the best customer experience by DALBAR, a leading authority in the field. The company's website received the prestigious DALBAR Communications Seal of Excellence, making it the sole recipient of this designation.Scoring an impressive 82.04, Nationwide's website ranked first overall, surpassing the industry average score of 68.95 by a significant margin. It outperformed 20 other competitors in categories such as functionality and behavior centric features.Holly Snyder, president of Nationwide's Life...

Find Your Perfect Match with Nationwide's Enhanced Pet HealthZone®

Nationwide, the largest U.S. provider of pet health insurance, has introduced a new way for pet parents to connect with their beloved furry friends through the Pet HealthZone. Dr. Jules Benson, Nationwide's Chief Veterinary Officer and Vice President of Pet Health, emphasizes the importance of the Pet HealthZone in strengthening the bond between pets and their owners: "One way to return our pets’ unconditional love is by ensuring we are the best pet parents we can be."The Pet HealthZone now offers detailed profiles of 11 cat breeds and over 100 dog breeds, including...

Cameron Heyward named Walter Payton NFL Man of the Year presented by Nationwide

In a heartwarming ceremony leading up to Super Bowl LVIII, Pittsburgh Steelers defensive tackle Cameron Heyward was announced as the 2023 Walter Payton NFL Man of the Year presented by Nationwide. This prestigious award, named in memory of the beloved Chicago Bears running back, "Sweetness," recognizes an NFL player who excels not only on the field but also in serving their community.Heyward becomes the fifth Steelers player to receive this honor, joining the ranks of legends such as Franco Harris, Joe Green, Lynn Swann, and Jerome Bettis. He has truly become a pillar of...

Triple-I Offers Reminders on Insurance Claim Filings for Consumers Impacted by California Atmospheric River Damages

SAN FRANCISCO, Feb. 9, 2024—The Insurance Information Institute (Triple-I) is reminding homeowners, renters, businesses, and vehicle owners impacted by severe weather related to the West Coast Atmospheric River of what’s covered under standard insurance policies and how the insurance claim filing process works. "The damages and devastation brought to millions of West Coast residents from severe rain and wind this week highlight the importance of being financially protected from catastrophic losses," said Sean Kevelighan, CEO, Triple-I. "As financial first-responders, the...

Like a Good Neighbaaa, Agent State Farm is There

State Farm has launched a new campaign featuring the legendary Arnold Schwarzenegger, bringing the action-movie icon to the big screen for a moment that is sure to captivate American culture and sports enthusiasts. The campaign, titled "Agent State Farm," promises an exciting conclusion on 2.11.24.Arnold Schwarzenegger takes on the role of Agent State Farm, a character that combines his iconic action-hero persona with the familiar Jake from State Farm character portrayed by Kevin Miles. The two actors joined forces for a shoot at the world-famous Gold's Gym in the Venice...

Path to net-zero: Disclosure push will spur insurers' work to quantify emissions

An evolving reporting environment for greenhouse gas emissions is expected to drive the adoption of a key standard for measuring emissions in insurers' underwriting portfolios. The Partnership for Carbon Accounting Financials (PCAF) launched the first version of an insurance-associated emissions standard in November 2022, but its adoption has been limited thus far. However, with the introduction of the new accounting standard for climate-related disclosures, IFRS S2, insurers and their clients are now under pressure to provide more information on their emissions. This...

PCAF Aiming to Launch Expanded Version of Insurance Standard in H1 2025

The Partnership for Carbon Accounting Financials (PCAF) has announced its plans to release an expanded version of its insurance-associated emissions standard in the first half of 2025. This new version will address areas that were not included in the initial standard, specifically treaty reinsurance and construction all-risk/erection all-risk cover.Marco Tormen, managing consultant at Guidehouse and head of PCAF's activities in Europe and German-speaking countries, highlighted the importance of these two areas in an interview. He stated, "These are two of the most...

Grain Bin Risk Increasing: Safety Program Provides Crucial Rescue Tools

In recent years, there has been a concerning increase in grain entrapment cases across the United States. These incidents have raised alarm bells as they can quickly escalate into life-threatening situations if proper safety measures are not followed. To address this issue and prevent tragic accidents, Nationwide has launched its Grain Bin Safety program, which provides specialized equipment and training to first responders.Two recent incidents serve as stark reminders of the risks associated with grain bins. In Indiana, an individual became engulfed in a grain bin on...

U.S. defense base contractors overseas just got another level of protection

A new Defense Base Act (DBA) insurance program has been launched by K2 OCONUS, a division of K2 Insurance Services, to provide Workers’ Compensation coverage for U.S. government contractors working overseas. This program, underwritten by Nationwide’s excess & surplus/specialty business, aims to offer additional protection to contractors supporting the United States Armed Forces at bases overseas, particularly in high-risk areas.The program, now open to U.S. government contractors working abroad in various industries, such as construction, engineering, logistics, security,...

Cyber Insurance Market Growing Dramatically, Triple-I Finds

Direct written premiums for cyber insurance worldwide are projected to reach $23 billion by 2025, with U.S. businesses accounting for 56% of the total, according to a new report by the Insurance Information Institute (Triple-I). The report, titled "Cyber Insurance: State of the Risk," highlights two primary factors driving this trend.The first factor is the ever-present threat of data breaches and cyberattacks. With the increasing reliance on Internet of Things (IoT) technologies, the expansion of remote work, and the greater use of cloud data storage, U.S. businesses are...

US Insurtech Market Report: Direct channel stalls in personal auto

The growth of personal auto premiums written through the direct channel has slowed down in recent years, according to a report by S&P Global Market Intelligence. While direct personal auto insurance writers are still growing, their rate of growth is lagging behind that of the traditional market. In 2023, direct channel premiums rose by 10.3%, compared to an 18.7% growth for the rest of the market.The direct channel refers to customers who purchase insurance online, via mobile devices, or by phone, without the involvement of an agent. This channel has been dominated by...