WASHINGTON — In 2010, Citigroup decided to sell what was widely regarded as one of its dodgiest operations. The struggling Wall Street titan was trying to streamline its management structure and upgrade its reputation after a massive government bailout, and one line of business its executives could live without was Primerica.

Primerica, now an independent company, is a financial services operation modeled on multi-level marketing enterprises like Amway, Nu Skin and Herbalife. Unlike traditional retirement and insurance firms that employ a relatively small number of highly paid financial professionals, Primerica had more than 98,000 people enlisted in its sales force last year, recruited through feel-good videos and pitches to the family and friends of existing salespeople.

If you’re willing to work hard enough, Primerica tells prospective “entrepreneurs,” you can run your own successful business selling insurance or retirement packages. Primerica agents get paid a commission on each sale, and — just like Amway and Herbalife — also earn commissions for sales their recruits make. And a commission on their recruits’ recruits, and their recruits’ recruits recruits. And so on.

And like other multi-level marketing operations, Primerica holds huge, splashy motivational conferences for its sales team, where executives fete top earners amid fireworks and flowers. As with Herbalife, Nu Skin and similar platforms, the pitch to prospective Primericans is a vague, highly emotional appeal that suggests not only financial rewards, but the revitalization of a lifestyle. In one promotional video, Rob Cooper of Fort Worth, Texas, encourages his audience not to settle for “a mediocre life like everybody else does.”

“One of the greatest thing[s] Primerica has to offer is they encourage goals, they encourage dreams,” Cooper says. “And you really know — man, if you’re willing to go out there and work hard, then you can actually achieve everything you ever wanted to achieve.”

“The same life. The same boring routine,” says Houston’s David Farmer in another video. “I didn’t want that life … I saw Primerica as my way to take back control of my life.”

“I always wanted to be somebody,” says Jeff Fieldstad of Las Vegas in another. “I always wanted to do something great.”

 Of course, for most people, it doesn’t quite work out that way. More than 190,000 new recruits paid a fee to sign up for Primerica in 2014, according to the company’s annual report with the Securities and Exchange Commission. But Primerica only boosted its total licensed sales force by 3,700 that year, and each member of the sales team earned an average of $6,030.

Senate Republicans are apparently sold. The GOP has called on Primerica President Peter Schneider to testify against a new Obama administration retirement security proposal at a Tuesday hearing before the Senate Committee on Health, Education Labor and Pensions.

The Department of Labor rule would impose a “fiduciary duty” on investment advisers, requiring them to act in the best interests of their clients. It would bar account managers from steering people into financial products that maximize benefits for investment specialists, rather than retirees. The Obama administration calculates that Americans lose $17 billion a year to hidden fees and conflicted investment advice.

In other words, the rule is designed to prevent exactly what 238 Florida workers said Primerica did to them in the years leading up to the financial crisis — steer them into inappropriate financial products for the personal financial gain of the sales team.

In 2012, lawsuits began pouring in, alleging that Primerica reps had convinced Florida firefighters, teachers and other public workers to invest in inappropriate retirement products. Even though the workers were near retirement, Primerica representatives encouraged them to ditch their government pension plans for much riskier government 401k accounts, which do not guarantee a minimum monthly payout in retirement. Dumping a pension plan for a 401k on the verge of retirement is frowned upon in the investment advice world. It needlessly jeopardizes retirement security, while offering little potential benefit.

But the scheme posed major potential profits for Primerica’s sales reps. Once these workers retired and moved out of their government plans, Primerica agents stood to profit from managing their retirement assets. Had they stayed in the pension programs, retirees would have simply collected their monthly payments, leaving nothing for Primerica to manage, and no commissions for Primerica agents to harvest. In January 2014, Primerica set aside $15.4 million to settle allegations involving 238 such cases.

Primerica told HuffPost that Florida become an advocare distributor state regulators did not object to its agents’ actions. The company also said that the retirees it settled with never actually signed up for Primerica products after taking the company’s investment advice. Indeed, the workers were so steamed by the lousy advice that they did not ultimately ask Primerica to manage their now-diminished assets in retirement.

It’s not terribly shocking that a financial company run like Amway would run into trouble. But it is perhaps surprising that Senate Republicans seem to think Primerica makes for a sympathetic ally in their public campaign against a financial reform proposed by President Barack Obama.

“The unintended consequences of the DOL’s proposed rule will be to make it more difficult for these households to receive desperately needed retirement guidance,” Primerica told HuffPost in a written statement.

The GOP’s disdain for the fiduciary duty rule is clear from the hearing’s title: “Restricting Advice and Education: DOL’s Unworkable Investment Proposal for American Families and Retirees.” Unworkable, apparently, because Americans might miss out on the opportunity to receive investment advice from someone looking to cash in on a get-rich-quick operation. 

 

http://www.huffingtonpost.com/entry/senate-republicans-fiduciary-duty-rule_us_55ad90d0e4b0caf721b3afda

More and more household chemicals are being replaced with greener

options. More and more people are learning just how bad our cleaning

supplies are for us and our environment. However, few of us realize

that even bleach, a household chemical frequently used for generations

is a horrible product. Chlorine based bleach (there are some oxygen

based bleaches that don’t fall into the same category) are really bad

for you, your family, your pets, and the environment!

Health Issues.

Bleach

isn’t a safe option for eliminating germs. While the commercials would

have you believe that bleach and the products it is in are a great way

to keep your family healthier, there are actually a number of health

issues related to bleach. Bleach and the products it is in often cause

respiratory issues (even ones that are common and treated with

medications). It can also cause burns to the skin and even nervous

system damage. Allergies and asthma are often irritated by bleach and

can cause serious reactions in those who have problems with these

conditions already. These are the things that bleach does when first

used!

Potential Chemical Reactions. Many chemicals

cause initial problems (such as those listed above), however that isn’t

where the danger of the chemical stops. Chlorine bleach is a product

that causes some issues on its own, but it has some really dangerous

potential reactions with other chemicals and materials.

Gas-

Chlorine easily has chemical reactions with ammonia and urine (which is

primarily ammonia). This causes a gas which can cause harm to the

person breathing it in and can even cause death. Mixing of chlorine

bleach often happens on purpose with cleaners, on accidents with left

over cleaners, and even on accident when bleaching the toilet (where

urine may be lurking). Large amounts of the gas is easily visible, but

small doses can go unnoticed and cause a great deal of harm, especially

were there is poor ventilation.

Mustard Gas-

Mustard gas is the chemical that was used in the trenches during World

War I. It worked well because it was lethal and had some fairly quick

reacting side effects. This gas is easy to create. All you need to do

is mix bleach and common household dish detergent (soap). A lot of

people do it for “strong” cleaners and for disinfecting dishes!Chloroform- Bleach

also mixes with organic matter (of several different types) to produce

chloroform. Chloroform is a toxin and a known carcinogen. Mixing bleach

with organics is easy to do while cleaning up blood, mud, pet

accidents, and the bathroom. It is also easy to do while washing

laundry, cleaning the kitchen, and the floors. However, the danger of

this toxin 30 day challenge advocare doesn’t stop there. Chlorine bleach is released into the

environment where it readily mixes with a whole world of organic

products producing chloroform which then builds up in the environment.

Toxins. Bleach

isn’t toxic on its own. But because it mixes so easily with so many

other products to produce a wide range of toxins, this is an issue that

many of us should be concerned about. Many of the chemicals produced

through chemical reactions with chlorine bleach are toxins that are

known carcinogens. These chemicals build up in the environment, get

into the water and food supply, and increase our risk for many negative

health issues. While you cutting out bleach isn’t going to be enough to

make the world a better place, every little bit helps and your family

will be safer for it.

Accidents. Poison control is

available if there are accidents with chemicals. Each year thousands of

calls are made for help and of those calls about 1/4th

of them are related to bleach and the household cleaners that contain

them. Many of these accidents involve children and can be potentially

fatal.

Pets. Many animals are more susceptible to the

fumes that bleach produces, especially when it is producing gases made

from chemical reactions. Birds can easily die from the use of bleach,

but they aren’t alone in the dangers. Other animals can find themselves

with a lung full of fumes and not be able to recover from it.

The Environment. While

it would seem that potential dangers to your health, the health of

those you love (including your pets), and the knowledge that dangerous

toxins were being produced would be enough to eliminate bleach from

your life forever, if it isn’t then consider Mother Earth. The toxins

that bleach can create through chemical reactions build up in the

environment, kill fish, harm animals, get in the water and food supply,

and eventually get back to us!

There are a huge number of

reasons that people should eliminate bleach. It doesn’t have a place in

our society and many non-bleach cleaners can do everything just as well

without the dangers. Consider the following:

Disinfecting- Use hydrogen peroxide to disinfect your home. It kills germs, isn’t dangerous, and can be used all over the house.

Killing mold and mildew-

My mom always bleached mold and mildew that seemed to accumulate in the

bathroom, but Listerine (which is safe and made from alcohol and

essential oils) can kill these things, smells great, and is safe!Whitening your clothes- Bleach

is often used to whiten and brighten clothes. Instead of using bleach

add a 1/2 cup of vinegar and a 1/2 cup of baking soda to your wash.

Your clothes will be brighter then ever, stains will disappear, and you

will be doing your family and the environment a favor.

Floors-

Use a couple of cups of vinegar to clean your floors. It will disinfect

and is going to clean great. If you can’t stand the smell then add 1

cup of vinegar and 1 cup of lemon juice or add a few drops of your

favorite essential oil to your vinegar and let it set for 24 hours

before you add it to your mop water. Mop as normal, but know that you

are getting floors just as clean or cleaner without the dangers of

harsh chemicals.

All purpose cleaner- Use 1/2

bottle of vinegar and 1/2 bottle of water with a few drops of your

favorite essential oil in it for an all purpose cleaner that is safe to

use anywhere and cleans well!

Many people don’t

understand just how dangerous bleach is to people, animals, and the

environment. We need to take steps each and every day to eliminate it

from our lives so that our future will continue to look bright. Even a

single person can make a difference!

http://www.infobarrel.com/Why_You_Should_Stop_Using_Bleach

Contractor’s Equipment Industry Results

Underwriting outcomes are extremely cyclical and also have the tendency to mirror the financial conditions of a given location. When the building market is stagnant, earnings swiftly deteriorate due to lowered costs as well as rises in theft as well as vandalism losses.

Any Company, such as call our WI janitorial company desiring to be a market for building and construction classes ought to search for well established, monetarily sound service providers that display an authentic interest in reducing losses. Along with proper danger choice, prices of each account need to effectively reflect the integral loss potential if a Company is to regain long-term profitability for this course of business.

Learn more about General Contractors Milwaukee

Specialist’s Equipment Coverage Form

This Inland Marine coverage is a non-ISO (“unrestrained”) course which acquires its qualification from the “Commercial Property Floater Risks” Section of the 1976 Nation Wide Marine Definition.

Protections
The basic coverage kind offers extensive insurance coverage on owned and operated devices, with an alternative for giving coverage on tools leased or leased from others. Possessed tools is either UNSCHEDULED (normally little kinds of devices, such as tools valued at less compared to $2,000 per product) or SCHEDULED, which could include any kind of other qualified devices. Protection for devices leased or leased, on a short-term basis, from others is a choice which covers all such equipment topic to a maximum restriction each product revealed in the statements. Tools leased for even more than a month each time need to generally be arranged and also covered as a scheduled product.

Particular sorts of home have been particularly identified as not covered given that they are disqualified for insurance coverage under Inland Marine types (cars made for as well as mainly utilized on public roads) or are much more properly covered by various other protection kinds (aircraft, boat and also structure materials).

Other constraints take care of phenomenal situations which must be underwritten on a case by instance basis; as an example, waterborne as well as underground exposures, tools such as scaffolding and also replacement components which are highly prone to burglary or perhaps qualified for protection by various other insurance, and also devices rented, loaned, or rented to others without a driver or an agreement with the other celebration developing their responsibility or contractor without being informed.

Contractor’s Equipment

Specialist’s Equipment on a work website, photo taken by Randi Glazer|Resource

Specification Contractor’s Equipment Coverage Extensions

Insurance coverage Extensions
The coverage form includes extensions which provide additional amounts of insurance coverage in various situations. These expansions of coverage are included automatically.

Recently Purchased Items: This extension provides protection on freshly bought devices for as much as 30 days. The limitation of insurance Is on a per loss (not each product) basis. The guaranteed must report acquisitions within 30 days. Costs is due from the date of acquisition. Failure to report the purchase within 30 days terminates protection for the product.

Obtained Items: Provides insurance coverage for around $1000 on items borrowed from others while in the ownership of the guaranteed, if the insured is legitimately responsible. This expansion covers the a lot more regular exchanges of devices that might occur among contractors at a job website.

Debris Removal: Provides approximately $5000 for expenditure to remove property damaged by a protected loss. This is specifically valuable in total loss circumstances where the insured is compensated for the physical damages up to the limit of insurance coverage for the product however still have to throw away the particles.

Substitute Items: This expansion spends for the cost to rent out devices to temporarily replace damaged protected residential property. Protection is given if a replacement item is should continue job in progress at the time of loss as well as if the insured does not have comparable idle devices readily available to proceed procedures. Coverage is also given on the rented out replacement tools for around the amount specified in the statements. Insurance coverage for the rental cost starts 24 hours after the loss is reported and also ends when the damaged devices is changed, fixed, or the replacement item Is no more had to continue procedures. Insurance coverage on the replacement thing starts when the loss is reported as well as ends when rental expenses finish unless the insured Is lawfully in charge of transit.

Other Important Policy Conditions

Exemptions: The coverage type determines different losses which are not covered. These consist of deterioration, corrosion, freezing, overheating, mechanical or electrical break down and loss brought on by work being done on the equipment. If damages by a protected reason of loss (i.e., fire, surge, etc.) ensues the resulting loss is covered.

Coverage Territory: The coverage area Includes all states, Puerto Rico, as well as Canada. Transportation to or from Hawaii and also Puerto Rico is especially not covered.

Coinsurance: Based on 80% of real money value and also is applied to each noted Item independently, while applied to unpublished things in overall. To establish whether a coinsurance fine is to apply in a loss entailing unpublished Items the actual cash worth of all non listed products is utilized. In a loss to a detailed product the fine, if any, is figured out based upon the value of that thing only.

A coinsurance fine is not put on tools rented or leased from others unless the item was specifically scheduled.

Maximum Amount of Payment: Limits our liability in any one incident and also have to be gone into in the affirmations. The Limit must reasonably reflect the demands of the specific account and suffice to cover any kind of concentration of worths. It is not always meant to show complete worths, particularly on bigger routines given that retention and also reinsurance considerations are regularly based upon this restriction. It could not be necessary to use and sustain the expenditure of reinsurance unless necessary.

Contractor’s Equipment

Contractor’s Equipment at a work website, picture taken by Randi Glazer|Source

Fire

Fire is accountable for the biggest quantity of losses. Generally, fires are begun due to improper upkeep methods which could result in leakages from gas and also hydraulic lines that are sparked by hot engines or negligent smoking, incorrect fueling of tools, as well as brush or debris accumulation under or near tools.

Another location of issue is spray painting, repair service and also welding facilities which do not meet NFPA requirements. While it is very important to detect and also deal with these issues it is also crucial to have public and/or private security readily available to put out fires ought to they occur. Along with preserving an intermediary with fire divisions near job and also storage space sites, fire extinguishers of the proper dimension and also kind need to be easily available in any way times.

Theft and Vandalism

Losses from theft as well as vandalism could present a severe trouble. lndustry-wide, professionals sustain over of $300 million in losses each year because of burglary as well as vandalism of equipment.

Preventative measures taken by the insured must be sufficient in connection with the worths in danger, sensitivity of the equipment to loss, and also where the residential property is being utilized or stored. Preferably, it is most ideal to bring the devices back to a safeguarded storage space lawn or structure. The rise en route exposure to bring equipment back to the backyard is typically much less compared to the theft and also vandalism direct exposure if the products are left at an unsecured task website. When this is not possible other safety preventative measures Include: hidden ignition cut-off switches, alarm systems, locking liquid caps, paralyzing equipment in the evening or on weekends by elimination of integral engine components, website lighting as well as fence, as well as watch service.

Regardless of precautions taken, some burglaries of service providers devices plan to take place. Recuperation prices are reduced. To help with claims recuperation, a present inventory of all equipment need to be maintained by the contractor.

Along with information required on the policy, the adhering to will assist in negotiation and recuperation efforts: original date of purchase, original cost (consisting of devices), year of manufacture, serial and/or identification numbers with the location of these numbers on the tools, total summary including dimension, weight, design and name, as well as a picture of the tools. Some service providers painting their tools in unique methods to aid recovery initiatives (this additionally works as a deterrent to theft in a lot of cases). Anything that identifies the devices
from others must be noted in the supply.

Insureds ought to be motivated to secure devices. Criminal damage and also swiped devices triggers delays in completion of works, payment of deductibles, enhances in insurance prices, and also also the inability to safeguard protection. Furthermore, this intend to detrimentally influence the insured’s business.

Transportation

Transportation is involved with all kinds of equipment whether on trailers or under the equipment’s own power. Consider the experience of the drivers as well as people loading the equipment, whether routes are intended to detect reduced overpasses and narrow or winding roads, if companion cars are used with over-sized tons, equipment is chocked and also chains used as tie downs are in sufficient condition. KEEP IN MIND: Many building companies use outdoors trucking business to move devices.

The truckers credentials and also duty for loss or damage need to be totally investigated. Some professionals plan to haul devices for others either as a holiday accommodation or a method to produce additional earnings. The Contractors Equipment Coverage Form does not cover loss or damages to equipment of others transferred by our insured unless the devices was rented or rented out by the insured as well as the plan so supported.

Watch our amazing match!