Broker Helps Those Without a Home

We promise we’ll talk about the COVID relief bill next week. However, this week we want to recognize Los Angeles broker Rachel Sunday of Playa Vista Insurance Services. Three years ago, Rachel and family launched The Power of a Shower — a 501(c)3 nonprofit that focuses on providing their houseless neighbors in the Venice Beach area with access to personal hygiene.

Using mobile shower units, The Power of a Shower offers people without homes a chance to shower, use the restroom and change into fresh clothing. The Sunday family and volunteers set up shop Thursday mornings in the main parking lot of Venice Beach boardwalk, where they are able to provide showers for 30 to 50 people each week. Sunday says she loves the idea that helping people get clean is something almost anyone can get behind.

The organization is always in need of the following products:

  • Soap/body wash
  • Shampoo
  • Conditioner
  • Lotion
  • Toothbrushes
  • Toothpaste
  • Deodorant
  • Q-tips
  • Disposable gloves
  • Tampons

If you’d like to volunteer or make a donation, visit The Power of a Shower website. Bravo Rachel and family!

HEALTH

A.M. Best: Health Insurers Doing Fine

Health insurers earned $34.2 billion through third-quarter 2020. While earnings may not be as robust in 2021, according to A.M. Best U.S. health insurance companies are well-prepared to face COVID-19-related uncertainties and other challenges in 2021.

The new Best’s Market Segment Report, titled, “Health Insurers Persevere Through Pandemic as Uncertainties Remain,” notes that health insurers’ earnings were higher than expected. This was mainly due to delayed elective and routine care combined with the modest cost of treatment for COVID-19. This year’s earnings will be tempered due to pent-up demand for care not received in 2020, along with an anticipated increase in health problems because of delayed care. And, yes, there is also concern about the cost of treating individuals who may have lingering health impacts from COVID-19.  However, no need to worry.

STEPUP

Register Now for IICF COVID Relief Challenge

The Insurance Industry Charitable Foundation’s Step Up Challenge is March 29. This is a unique international exercise challenge to raise funds for children and communities at risk. Funds raised benefit 2021 IICF COVID-19 Relief Funds in the US and UK. All funds raised in a region will remain local. U.S. participants register here. Click here to learn more about the 2021 IICF International Step Up Challenge.

CONGRATS

NAAIA Celebrates 24 Years

Congratulations to the National African American Insurance Association (NAAIA) on their 24th Anniversary! Founded in 1997 by Jerald L. Tillman, NAAIA is the premier diversity, equity and inclusion focused organization for the insurance Industry. NAAIA’s mission is to increase the numbers of African American insurance professionals and to support these members in their insurance industry careers. We’ve attended a couple of NAAIA talks and we’re big fans. Find out more about this valuable organization at NAAIA.org

CAL BROKER

We’d Love to Hear From You

Thank you to everyone who answered Cal Broker’s super easy 2021 reader survey. If you haven’t had a chance to do so, there’s still time! And guess what?  Answer the survey and you can enter to win a $500 Visa gift card. The gift card drawing will coincide with Cal Broker’s 40th anniversary issue later this year. Take the survey here.

March Issue is Up

Cal Broker’s monthly print magazine goes out to about 25,000 subscribers. You can also access the entire magazine online at www.calbrokermag.com. We post the individual stories that run in the magazine as well as the entire issue in a digital format.  Look to the righthand side of our website for the digital issue. You can also find back issues and Insurance Insider News, this weekly e-newsletter, right on our website. So take a look!

INSURTECH

New York Life Chairman and CEO Ted Mathas Joins NYDIG Board of Directors

Ted Mathas, chairman and CEO of New York Life Insurance Company, must think this Bitcoin thing is going somewhere. 🙂 NYDIG, a leading provider of investment and technology solutions for Bitcoin, announced Mathas will join its board of directors. New York Life Insurance Company, of course, is the nation’s largest mutual life insurer with more than $700 billion in assets under management. NYDIG says Mathas’ expertise and insights will be valuable as it continues to focus on “expanding the financial and technology services it delivers to institutional and individual clients alike”.

ANNUITIES

LIMRA: Annuity Sales Down

U.S. annuity sales totaled $219 billion in 2020, 9% lower than sales in 2019, according to results from the Secure Retirement Institute® (SRI®) U.S. Individual Annuity Sales Survey.  While total sales were down, the fourth quarter nonetheless didn’t look bad. Annuity sales rebounded to pre-pandemic levels during this time. Go here for a detailed chart from SRI.

SLEEP

It’s Sleep, Sleep, Sleep

Deepak Chopra recently spoke at NAHU’s CapCon. Chopra says that adequate sleep is a major contributor to good health. Moreover, lately we can’t open our email without seeing something about sleep. We’re receiving tons of info on sleep because National Sleep Awareness Week is next week. The aim is to educate the public about the importance of sleep health. Check out the website for lots of great resources. Charlotte’s Web has also sent info about its sleep gummies and CBD oil formula. We hear lots of good things about these products. Anyhow, thought we’d pass along links in case you want to explore.

EVENTS

  • NAHU Power Hour, 4th Wednesday of the month from 4-5p.m. Pacific. Members and nonmembers welcome. Register here.
  • LAAHU DEI Book Club, discussing Miles McPherson’s book, The Third Option, started March 8, Register here.
  • NAIFA-LA, ABCs of Annuities with Alvin Parra, Aaron Gravel and Brendan Lavelle, Virtual, March 18, register here.
  • CAHU Women’s Leadership Summit, POSTPONED Email questions to info@cahu.org.
  • National Association of Insurance Commissioners (NAIC) Spring National Meeting, Virtual, April 7-9 and April 12-14. Register here.
  • Insurance Advertising Compliance Association conference, Virtual, April 22-23, Register here.
  • Save the Date– IICF International Inclusion in Insurance Forum, June 15-17
    The Insurance Industry Charitable Foundation is convening insurance professionals, C-Suite executives, D&I leaders and other innovators from around the globe for the IICF International Inclusion in Insurance Forum, an action-oriented program with a unique focus on an inclusive future for the industry. Register here.
  • American Association for Medicare Supplement Insurance, National Medicare Supplement Insurance Industry Summit, Sept 8-10, Schaumburg Convention Center, Chicago area, info here.