DUBLIN, Oct. 13, 2020 /PRNewswire/ — The “Income Protection – United Kingdom (UK) Protection Insurance 2020″ report has been added to ResearchAndMarkets.com’s offering.

The report provides an in-depth assessment of the income protection market, looking at current and historical market sizes with regards to changes in contracts and premiums. It examines how income protection products are distributed and highlights key changes in the competitive landscape, as well as the proposition of the key market players. It provides five-year forecasts of contracts and premiums to 2024 and discusses how the market, distribution, and products offered are likely to change in the future, as well as the reasons for these changes.

The UK’s income protection market has grown strongly in recent years. Of the main protection products, income protection was the only product to register double-digit growth in premiums in 2019. Advised sales remain far more common than non-advised sales. However, the non-advice channel has experienced the fastest growth over recent years in terms of new business premiums.

Income protection providers face the prospects of increased claims due to job losses and increased illnesses as a result of COVID-19. As such, insurers have been forced to withdraw unemployment cover from the market and add exclusions to the wording of those policies that remain. The market is anticipated to plunge in 2020 before returning to growth. Financial hardship will highlight how vulnerable people are without a regular income, be it the result of unemployment or illness. This will generate strong demand for income protection products over the coming years.

Scope

  • New business premiums in the income protection market grew 18.3% to reach £65.5m in 2019, making it the only protection product to register double-digit growth by this measure.
  • Aviva strengthened its position as the largest provider of income protection insurance,

When Joseph Sullivan joined the Chicago Board of Trade in the late 1960s, he was a finance industry novice put in charge of a moonshot project to create the first marketplace for trading listed stock options.

A former Wall Street Journal political reporter, Sullivan worked tenaciously and eventually won over both industry skeptics and regulators at the Securities and Exchange Commission to launch the Chicago Board Options Exchange in 1973.

The CBOE, which spun off as a publicly traded company in 2010, grew into one of the world’s largest options exchanges and a staple of securities traders worldwide.

“He changed the face of American finance,” said Bill Brodsky, who served as CEO from 1997 to 2013.

Sullivan, who served as the inaugural president of the CBOE until 1979, died Oct. 2 at the age of 82 in Knoxville, Tenn., where he grew up and ultimately retired.

A Princeton University graduate, Sullivan earned a master’s degree in journalism from Columbia University and started his career in 1961 as a reporter for the Wall Street Journal in Atlanta. In 1963, he joined the newspaper’s Washington bureau, where he covered Congress for five years.

In 1968, Sullivan made a dramatic career change, going to work for the Board of Trade in Chicago, where he was put in charge of the options exchange project.

“It was a pie-in-the sky concept of trying to trade options on major U.S. stocks,” Brodsky said. “He had big hurdles to overcome.”

Patterned after the Board of Trade, the CBOE created standardized securities contracts — betting on the future price of IBM’s stock, for example — and a clearinghouse to act as intermediary between the option buyers and sellers. When it launched on April 26, 1973, the CBOE traded less than 1,000 contracts, Brodsky said.

The Chicago-based CBOE

Fueled by increased consumer product demands during the pandemic, Dallas-Fort Worth industrial building leasing set a record in the first nine months of 2020.

Warehouse and distribution tenants have gobbled up 21 million square feet of industrial space in North Texas through September.

Almost 5 million square feet of net leasing was recorded just in the third quarter, according to a new report from commercial real estate firm Cushman & Wakefield.

“The Dallas-Fort Worth industrial market continues to perform extremely well,” Cushman & Wakefield executive managing director Nathan Orbin said. “Even as concerns over the pandemic and an upcoming presidential election exist, demand remained strong,

“We anticipate demand to remain elevated as we are currently tracking over 14 million square feet of active tenant requirements.”

Expanding e-commerce and consumer products firms are driving the demand for North Texas warehouse space.

In the third quarter, some of the biggest leases were by Uline, a Wisconsin-based distributor of shipping, industrial and packaging materials that took 1.6 million square feet of space at DFW International Airport, and Amazon, which leased another 1 million square feet in southern Dallas. Encore Wire Corp added 724,380 square feet of distribution space in McKinney.

“E-commerce and the increasing demand for industrial product is driving the D-FW industrial market,” said Kurt Griffin, Cushman & Wakefield executive managing director. “D-FW has delivered close to 23 million square feet of industrial product year to date with another 24 million square feet under construction.

“However, tenant leasing is keeping up with new supply, maintaining a below historical level vacancy, which currently sits at 6.5%.”

Most of the ongoing industrial development is in southern Dallas County, in the AllianceTexas development area of North Fort Worth, at DFW International Airport and in South Fort Worth.

More than 23 million square feet of warehouse space is under construction in North Texas.
More than 23 million square feet of warehouse



Joe Biden wearing a suit and tie: Mark Makela/Getty Images


© Mark Makela/Getty Images
Mark Makela/Getty Images

  • A Democratic sweep in November would place stocks on a rollercoaster ride through the end of the year, Morgan Stanley strategists said Friday.
  • US equities are among the few assets poised for a “detour” should a so-called blue wave take place. The market’s steady climb would reverse temporarily before correcting in 2021, the analysts said.
  • Stocks would initially dip on fears of higher corporate taxes and uncertainty around future stimulus, according to the bank.
  • Once the party can clarify its fiscal relief plans, a follow-up to March’s CARES Act and continued economic recovery can place stocks back on their upward path, the strategists added. 
  • Visit the Business Insider homepage for more stories.

A “Blue Wave” come Election Day can boost stocks, but only after bouts of strong volatility and a knee-jerk decline, Morgan Stanley strategists said Friday.

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Current polls suggest Democratic presidential nominee Joe Biden will beat President Donald Trump in November, and that the Democratic Party holds a strong chance of securing control of Congress. Yet US equities are among the few assets poised for a “detour” should such a sweep take place, the bank said in a note to clients.

While some assets such as Treasurys and oil would face a steady decline, an overwhelming Democratic victory would form a temporary deviation from stocks’ upward trajectory, they added.

The market’s immediate reaction will likely be negative, according to the firm. Fears of tax hikes will drive initial selling and lower earnings outlooks.

Read more: Bank of America lays out its scenario for how the next big top in stocks will form — and pinpoints the trigger that could cause a meltdown shortly after

The continued economic recovery would drive some derating of earnings-per-share multiples, posing a short-term risk until

The high cost of health care is persisting during the pandemic, even for people lucky enough to still have job-based insurance.

The average annual cost of a health plan covering a family rose to $21,342 in 2020, according to the latest survey by the Kaiser Family Foundation, a nonprofit group that tracks employer-based coverage. Workers paid about a quarter of the total premiums, or $5,588, on average, with their employers picking up the rest of the cost.

An analysis of the results was published Thursday online in Heath Affairs, an academic journal. While premiums rose only slightly from the 2019 survey, the increase in premiums and deductibles together over the last decade has far outpaced both inflation and the growth in workers’ earnings. Since 2010, premiums have climbed 55 percent, more than double the rise in wages or inflation, according to the foundation’s analysis.

About 157 million Americans had coverage from their employer before the pandemic, but millions have lost their insurance along with their jobs over the past several months. Many experts expect more people to lose coverage in the coming months as companies lay off workers or drop their health benefits.

“Nothing changed much, but then everything changed,” said Gary Claxton, a senior vice president at the foundation. The survey was conducted from January through July of this year, making it hard for the researchers to see how the changed circumstances will affect costs and employers’ willingness to pay for coverage.

“Things may look different moving forward as employers grapple with the economic and health upheaval sparked by the pandemic,” Drew Altman, the foundation’s chief executive, said a statement.

The survey also underscored how much workers with health insurance still have to spend out of pocket for their care. In addition to paying for their share of premiums,