Insurance law attorney Jared Stolz comments on Sun Life Assurance v. Wells Fargo Bank, a recent New Jersey opinion

Jared Stolz, insurance lawyer in New Jersey

Jared Stolz, insurance lawyer in New Jersey

Jared Stolz, attorney in New Jersey

Jared Stolz, attorney in New Jersey

Jared Stolz, attorney in New Jersey

Jared Stolz, attorney in New Jersey

Jared Stolz, attorney in New Jersey

Jared Stolz, attorney in New Jersey

Jared Stolz, attorney in Flemington, New Jersey

Jared Stolz, attorney in Flemington, New Jersey

The case questioned whether New Jersey law would permit a life insurance policy issued under unusual circumstances. Jared Stolz explains.

Stolz & Associates, LLC (N/A:N/A)

The Court concluded that STOLI policy is indeed against New Jersey public policy … As to Wells Fargo’s entitlement to refund of the premiums, the Court adopted a nuanced approach …”

— Jared Stolz, insurance lawyer in New Jersey

FLEMINGTON, NEW JERSEY, UNITED STATES, June 17, 2019 /EINPresswire.com/ — The New Jersey Supreme Court recently reviewed a life insurance-related matter. The case questioned whether New Jersey law would permit, or declare void ab initio, a life insurance policy issued under unusual circumstances.

Insurance law attorney Jared Stolz, Esq. provides his view about Sun Life Assurance Company of Canada v. Wells Fargo Bank, N.A., a recent decision from the Supreme Court of New Jersey, in a new comment. The complete article will be available on Mr. Stolz’ blog at https://jaredstolz.law.blog/

“[A] group of investors paid for a life insurance policy through a trust. The insured was a stranger to them. When the policy was issued, the insured’s grandson was the beneficiary. About five weeks later, the trust was amended and the strangers who invested in the policy became its beneficiaries. In short, the insurable interest requirement appeared to have been satisfied at the moment the policy was purchased, but the plan from the start was to transfer the benefits to strangers soon after the policy was issued.”

There were other frauds involved at the outset as well. The insured, Nancy Bergman, was a retired middle school teacher. The policy was taken out with an inspection report that listed Ms. Bergman’s annual income as $600,000 and net worth at $9.235 million. In truth, her income was around $3,000 per month and net worth was between $100,000 and $250,000. She also represented that she had no other life insurance policy, when in reality, she had over five policies for a total of $37 million. Nonetheless, Sun Life issued a $5 million policy in July 2007.

In 2009, the trust, which was now in control of the investors and changed to name the investors as beneficiaries, sold the policy to a company named LTAP for $700,000. Then Wells Fargo took possession of the policy in bankruptcy settlement in 2011. Wells Fargo estimated that it paid about $1.9 million in premiums, both directly and in the form of loans to LTAP.

Ms. Bergman passed away in 2014 and Wells Fargo sought to collect. After discovering the sordid history of the policy, Sun Life denied the claim and filed suit in federal court to have the policy declared void ab initio. Wells Fargo countersued for the $5 million payout or, in the alternative, for refund of the premiums. District court declared the policy void ab initio as a STOLI (Stranger Originated Life Insurance) policy, but ordered a refund of the premium as to avoid a windfall to Sun Life. Both parties appealed.

The Third Circuit, noting that no New Jersey case law directly addresses this issue, certified two questions to the New Jersey Supreme Court:

(1) Does a life insurance policy that is procured with
the intent to benefit persons without an insurable
interest in the life of the insured violate the public
policy of New Jersey, and if so, is that policy void ab
initio?

(2) If such a policy is void ab initio, is a later purchaser
of the policy, who was not involved in the illegal
conduct, entitled to a refund of any premium payments
that they made on the policy?

First, the Court addressed whether Sun Life can challenge the policy considering that the policy contains an Incontestability Clause, which provides that policy may not be challenged later than two years after its issuance, except for nonpayment of premium. The Court held, that as many other states do, that a policy that is void ab initio as against public policy is not bound by the incontestability clause. Therefore, Sun Life could validly assert the claim.

Another consideration for the Court was that sale of life insurance policy to a third party without insurable interest, though regulated, is legal under New Jersey law. What is known as a viatical settlement, it is “[a] transaction in which a terminally or chronically ill person sells the benefits of a life-insurance policy to a third party at a discounted value in return for a lump-sum cash payment.” The law, however, prohibits the sale of life insurance policy to a person without insurable interest for two years after the policy is issued with limited exceptions. The Court adopted the explanation of the Second Circuit that “[a] key difference between non-STOLI and STOLI policies . . . is simply one of timing and certainty; whereas a non-STOLI policy might someday be resold to an investor, a STOLI policy is intended for resale” before it is issued.”

The Court concluded that STOLI policy is indeed against New Jersey public policy. “If a third party without an insurable interest procures or causes an insurance policy to be procured in a way that feigns compliance with the insurable interest requirement, the policy is a cover for a wager on the life of another and violates New Jersey’s public policy.” The Court went on to hold that a policy issued against public policy is void ab initio.

As to Wells Fargo’s entitlement to refund of the premiums, the Court adopted a nuanced approach. “In the context of a void STOLI policy, the fact-sensitive approach outlined by Williston and adopted in the above cases is sound. To decide the appropriate remedy, trial courts should develop a record and balance the relevant equitable factors. Those factors include a party’s level of culpability, its participation in or knowledge of the illicit scheme, and its failure to notice red flags. Depending on the circumstances, a party may be entitled to a refund of premium payments it made on a void STOLI policy, particularly a later purchaser who was not involved in any illicit conduct.”

The case is Sun Life Assurance Company of Canada v. Wells Fargo Bank, N.A., (A-49-17)

About J. Elliott Stolz, Esq.

Jared Elliott Stolz is an attorney in New Jersey, focusing on insurance law and litigation. He is the managing partner of Stolz and Associates. Jared Stolz received his undergraduate education at Drew University in Madison, New Jersey and graduated with honors from Seton Hall University School of Law. Jared E. Stolz has been the managing partner of Stolz and Associates since 2004, specializing in providing individual and customized attention to insurance carriers needs on substantial coverage disputes. Mr. Stolz has nearly two decades of experience in the insurance industry and strives to offer the clients a combination of tried and true legal analysis along with tactic, brought to it by today’s technology, with a focused eye on expenses. He has represented prominent clients in numerous noteworthy cases with published opinions and has published and given seminar on insurance law topics.

Bio on law firm website: http://www.stolzlaw.com/about-us/about-the-founder/
LinkedIn Profile: https://www.linkedin.com/in/jared-stolz-18088012
Blog: https://jaredstolz.law.blog/
Attorney Profile: https://solomonlawguild.com/jared-stolz%2C-new-jersey
News: https://hype.news/jared-stolz-esq
News: https://attorneygazette.com/jared-stolz%2C-new-jersey#991b3c34-b5d9-4d08-be41-b22cd3ce1795
Videos:
https://www.youtube.com/channel/UC4JMr8Lydcx0FqRit17cBWg
https://www.youtube.com/watch?v=HOF3bolshC8
https://www.youtube.com/watch?v=n7yA3fUImhc

Lilly Shebey, Administrative Assistant
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Insurance law seminar taught by Jared E. Stolz, New Jersey


Source: EIN Presswire

Medical Consultant Dr. Sohail Aman starts Blog with information and insights on health care management

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Dr Sohail Aman, Medical Consultant in Maryland and Alabama

Experienced medical consultant’s blog will address medical practice management issues that affect cost-effective health care.

Sohail Aman, MD (N/A:N/A)

Most medical clinics and hospitals have their own ways of managing their facilities, but one of the most common services they all use is the medical practice management software”

— Sohail Aman, medical consultant (Alabama, Maryland)

MOBILE, ALABAMA, UNITED STATES, June 17, 2019 /EINPresswire.com/ — Medical Consultant Sohail Aman, with many years of experience practicing internal medicine, started a Blog to provide information on health care and medical practice management, available at https://sohailamanmd.home.blog/

In his new Blog, Dr. Aman reviews the significant forces that have been changing the way healthcare has and will continue to be delivered. The emergence of more unique ways to deliver care such as clinics incorporated into businesses and factories, the increased use of mid-level providers (nurse practitioners & physician assistants), the increase integration of technologies such as telemedicine and robotics, and the shift from interventional reimbursement to outcomes reimbursement, are just a few examples.

Compounding these are the ever-increasing costs of healthcare, the strain of funding Medicare on the U.S. economy, and the complications of insurance and healthcare payments under the affordable care act, ACA.

While there are no perfect answers, Dr. Aman will offer his medical practice experience and insights on his Blog. One example is software to operate a medical practice. Running a medical practice can both tiring as well as riotous at times. Most medical clinics and hospitals have their own ways of managing their facilities, but one of the most common services they all use is the medical practice management software (MPMS).

Such programs help in the management of day-to-day activities and tasks that a medical facility offers, such as booking appointments, dealing with claims and billing statements, patient demographics, reports generation, etc. These programs are available for desktop use only and do not yet offer mobile app services. They have a smart interactive system which allows multi-users access and data sharing between different user profiles. MPMS benefit the practice by allowing an easy and quick data and workload sharing option. However, it can be quite costly to purchase and also has a high maintenance cost, especially the management programs that are linked with the internet. All in all, they can be especially expensive. An internet supported management program enables the practice employees to reduce their dependence on private servers and purchase individual security software, since internet supported programs do not work via intranets. Nevertheless, uploading and sharing patients’ data via the internet is a great security threat in its own right.

Dr. Aman’s blog is available at available at https://sohailamanmd.home.blog/

About Dr. Sohail Aman, M.D.

Dr. Sohail Aman is Consultant in Internal Medicine in Cambridge, Maryland and Mobile, Alabama. He graduated from Medical School with honors in 1992, and has completed several post-graduate training programs in internal medicine, emergency medicine, neurology, and infectious diseases.

References:

Website: https://SohailAman.com
Blog: https://sohailamanmd.home.blog/
Professional Profile: https://medicogazette.com/sohail-aman%2C-md-alabama
Professional Profile: https://hippocratesguild.com/sohail-aman%2C-md-alabama
News: https://hype.news/dr-sohail-aman-us/
LinkedIn: https://www.linkedin.com/in/sohail-aman-39317b45

Sohail Aman, MD
Sohail Aman, MD
+1 443-205-4040
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Institute for Healthcare Improvement – Seven Challenges Facing Today’s Health Care Leaders


Source: EIN Presswire

Leading Global Insurance Broker adopts ExdionPOD for automated Policy Checking

NEW YORK, USA, June 14, 2019 /EINPresswire.com/ — A global leader in Insurance Broker and Risk Management company has selected Exdion Solutions for automatic Policy Checking. ExdionPOD is a first of its kind, AI & ML based solution capable of completely automating the Policy Checking process. By adopting ExdionPOD, Insurance Brokers are putting an end to monotonous and tedious manual Policy Checking process and its associated errors. With the implementation of ExdionPOD, agencies are excited as they are able to exponentially increase customer experience and also free up their valuable human resources to focus more on risk advisory roles.

Mr LS Ram, CEO of Exdion said “We are very excited with this opportunity. We are sure ExdionPOD with its cutting edge technology capabilities will drive value across the entire policy checking process in real time”.

ExdionPOD, is an AI-driven solution that runs on the secure Amazon Web Service (AWS) platform with Deep Learning capabilities. This enables ExdionPOD to auto learn new scenarios through Machine Learning(ML) and NLP. ExdionPOD does instant document processing, in-depth analysis and reporting. ExdionPOD guarantees Customer Satisfaction through the introduction of Straight-through Processing. With ExdionPOD, Insurance Brokers can comprehensively mitigate E&O risks by removing human dependency.

Exdion Solutions is a consulting and InsurTech product based company, offering pioneering, disruptive and value enhancing solutions to Insurance Brokers & Agencies. Exdion delivers transformational excellence through strategic levers that include Consulting, Technology, Robotic Process Automation, Artificial Intelligence, Data Science products, and BPM. Our solutions help Insurance Agencies and Broker smartly tide over inefficiencies, gain revenues and remain competitive.

Dan Narayan | VP – Business
Exdion Solutions
+1 646-257-3490
email us here
Visit us on social media:
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Source: EIN Presswire

How FYIsoft Offers a 500% Faster Enterprise Financial Reporting Solution

FYIsoft

FYIsoft

Cloud accounting software company FYIsoft offers a financial reporting solution that is 500 percent faster than some competitors.

NAPLES, FL, UNITED STATES, June 13, 2019 /EINPresswire.com/ — Cloud financial reporting software company FYIsoft offers a financial reporting software that is 500 percent faster than some competitors. This smart investment enables you to close the books faster and direct your attention to revenue building opportunities to keep your business competitive.

FYIsoft leverages technology that supercharges financial reporting power by offering a solution that is proven to:

● Cut financial reporting time by up to 50 percent, even in complex multi-entity and global currency environments.
● Integrate with your existing general ledger, providing ultimate power without replacing your ERP.
● Format and distribute financial reports perfectly and with ease.
● Empower users to drill down and run reports they need independently.

The solution is fast, easy, and accurate. With software designed to simplify every step of the financial reporting process, you’ll save 10+ days with every close. FYIsoft’s cloud software is intuitive, and reports are easy to set up or change, with no custom coding or IT involvement needed. FYIsoft pulls data straight from the general ledger, removing the risk of manual errors and ensuring financial statements are accurate.

Above all else, FYIsoft offers a solution that is accessible from any device with an internet connection and can be implemented so swiftly that it can be up and running before your next financial close. By using the power of automated features, the solution is not only faster than traditional software competitors but more trustworthy, too.

About FYIsoft

FYIsoft (formerly Renovo Corporation) was founded in 2012 to provide innovative financial reporting solutions that enable companies to gain an accurate insight into their corporate finances.

FYIsoft’s solutions are browser-based and can be deployed in the cloud or on-premises. FYIsoft’s goals are to simplify the most complex financial environments by enabling on-demand reporting, easy integration with virtually all general ledger systems, and multi-company consolidations with different currencies, account numbers, and calendars. FYIsoft is headquartered in Naples, Florida, with customers and partners around the globe.

FYIsoft
FYIsoft
+1 877.450.1440
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Source: EIN Presswire

Flexi Accounting Software Offers a Powerful, Process-Driven Platform

Flexi

Flexi

Flexi accounting software offers a powerful, process-driven platform that enables users to work swiftly and accurately.

SHELTON, CT, UNITED STATES, June 13, 2019 /EINPresswire.com/ — Flexi accounting software offers a powerful, process-driven platform that enables users to work swiftly and accurately. The software was built to simplify the complex processes accountants face daily. This process driven approach delivers benefits that include a faster, more reliable close.

Flexi’s comprehensive financial management software not only simplifies but automates the entire accounting workflow process without compromising security. The open architecture meets even the most stringent security requirements yet allows data to flow seamlessly with any system, whenever and wherever business needs dictate.

Flexi delivers the rich features of a top tier accounting solution but without the high cost. And, Flexi offers quick implementation that can be deployed on-premises, in the cloud, or a hybrid environment.

Flexi takes a holistic approach to building its platform. The net-native applications work seamlessly in real time, delivering speed and performance that is far superior to many of today’s systems. The comprehensive software suite, including workflow automation, provide top-tier functionality; however, individual modules can be deployed separately if desired.

About Flexi.com

In the early 1990s, the founders of Flexi had the primary goal of providing companies with a non-proprietary, feature-rich accounting system that could be scaled to handle millions of transactions. But, the founders wanted the software to remain flexible enough to handle the unique requirements of any company. This is how Flexi was born.

Flexi, headquartered in Shelton, CT, has 25 years of experience designing top of the line accounting solutions. Flexi solutions have been installed at more than 800 locations worldwide and the company has a long track record providing accounting solutions to businesses in all industries. Flexi solutions enable your business to increase productivity, reduce costs, and provide the analytics needed to make informed decisions so you can grow your business. For more information please visit https://www.flexi.com.

Flexi Software
Flexi Software
+1 8003539492
email us here
Visit us on social media:
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Source: EIN Presswire

TicketBust.com Hits 5,000 San Diego Traffic Tickets Served

Ticket fighting service

TicketBust ticket fighting service

For 15+ years, TicketBust has helped California drivers avoid court & expensive attorney fees. This month, their 5,000th San Diego client was served.

We have seen an uptick in the number of tickets served in San Diego. Luckily, TicketBust has a proven process for getting drivers off without going to court or paying expensive attorney fees.”

— Steven F. Miller

SAN DIEGO, CA, UNITED STATES, June 13, 2019 /EINPresswire.com/ — There are few things in life more annoying than running late for work and then getting stopped for a traffic ticket. Unfortunately, it is a feeling that almost every California driver has either felt themselves or knows someone who has experienced it. TicketBust is the original ticket buster and has helped tens of thousands of people get their tickets dismissed throughout the State of California.

Since tracking the individual county in which tickets are received and the corresponding services are provided, there have been a handful of counties that stick out as being most common. One of them is San Diego County, where a significant portion of TicketBust clients received their tickets. In fact, on June 5th, the 5,000th ticket received from San Diego drivers came in as a phone call from a person caught speeding on Interstate 5 near Sea World.

It was no surprise that a speeding ticket was the type of citation that was received, since this type of San Diego traffic ticket sent to TicketBust make up approximately 65% of all violations. Additionally, it is no surprise that it occurred in 2019 as the total number of traffic ticket help requests in San Diego received by the company has grown tremendously over the past 6 months.

As TicketBust President/CEO, Steven F. Miller explains, "We have seen a significant uptick in the number of speeding tickets being served in the San Diego community. Luckily for these drivers, TicketBust has a well proven process for getting them off without having to go to court or pay expensive attorney fees."

The process mentioned above is called a trial by written declaration and TicketBust has mastered the process of successfully completing this little-known secret to avoiding traffic ticket consequences. Most people don't read the back of their tickets so they don't realize it is an additional option to the standard 'guilty' or 'not guilty' pleas. Or, if they do learn about it, many people don't even know where to start when it comes to filing a trial by written declaration that would be taken seriously.

However, as more people learn about it and reach out to proven ticket fighter, TicketBust, the greater the likelihood of tickets in San Diego County to be dismissed. The ticket fighting team says that it is difficult to tell if the increase in tickets served in the area means that more tickets are being given, or if it is simply a signal that more drivers are aware of their services. Either way, congratulations to the 5,000 drivers that have had their San Diego tickets dismissed.

About TicketBust

Our Clients Describe it Best!

Here is what one client recently said, “TicketBust cleared me for 3 citations. I highly recommend Ticketbust to anyone whose got a traffic ticket." – Ray

And another client says, "I have used them and found them very professional and honest. I recommended to many friends and family. They all got their tickets dismissed. I highly recommend them." -Lalarukh

Steven F. Miller
Ticketbust.com
+1 858-442-7446
email us here


Source: EIN Presswire

Exdion Solutions announces new office in the Greater Dallas area

DALLAS, TEXAS, USA, June 13, 2019 /EINPresswire.com/ — Exdion Solutions Inc, the premier InsurTech solution provider for the insurance brokerage ecosystem announced the opening of its new office in Dallas at Legacy west business district in Plano, Texas which will reinforce the organization's association with Insurance brokers and agencies in the region. This expands Exdion’s presence in North America.

The decision to open shop in the Greater Dallas area is a coherent advancement in our business development strategy, said Dan Narayan, VP- Business, Exdion Solutions. Some of the most innovative and sophisticated insurers in the world are in this region and our office at Dallas enables us to meet clients where they live and service them more viably. We are aggressively expanding our market presence through direct and partner sales.

As the insurance industry’s premier AI/ML product and solution partner, Exdion Solutions is one of the fastest growing InsurTech companies in the world. Exdion’s objective is to empower Insurance agencies and brokers to benefit from the digitization of their business and be future ready through world-class intelligent AI/ML led solutions that deliver superior customer experience and improved efficiencies. Exdion counts some of the world’s leading insurance distributor brands as customers.

“Opening an office in Dallas will further strengthen our service capabilities in the fast-growing North American Insurance ecosystem. We are seeing exponential demand for our smart AI/ML solutions and transformation consulting”, said LS Ram, CEO, Exdion Solutions.

About Exdion Solutions:

Exdion Solutions is a consulting and InsurTech product based company, offering pioneering, disruptive and value enhancing solutions to Insurance Brokers & Agencies. Exdion delivers transformational excellence through strategic levers that include consulting, technology, Robotic Process Automation, Artificial Intelligence, Data Science products, and BPM. Our solutions help Insurance agencies and broker smartly tide over inefficiencies, gain revenues and remain competitive.

Dan Narayan | VP – Business
Exdion Solutions
+1 646-257-3490
email us here
Visit us on social media:
LinkedIn
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Source: EIN Presswire

DECONGESTIONE DEL TURISMO A VENEZIA. UNA SOLUZIONE ARRIVA DALLA APP MYPASS VENEZIA

MyPass Venezia App

MyPass Venezia per iOS e Android

Con la prima biglietteria unica dematerializzata niente più code alle casse e gestione più fluida dei flussi turistici

VENEZIA, ITALIA, June 13, 2019 /EINPresswire.com/ — Oltre 20 milioni di turisti ogni anno. Un impatto troppo alto per la città di Venezia dove le code affollano i punti nevralgici e complicano la viabilità lungo le calli ed in prossimità delle principali biglietterie, per esempio quelle del trasporto pubblico.

Come collaborare a risolvere il problema? Una soluzione arriva dalla piattaforma Mypass, la prima biglietteria unica virtuale che ha scelto Venezia come città pilota di un progetto che presto coinvolgerà anche altre città italiane ed europee.

Parola d’ordine dematerializzazione. Grazie a MyPass tutti coloro che devono acquistare un biglietto a Venezia si trovano davanti alla possibilità di acquistarlo direttamente dal cellulare, saltando la coda ed evitando lunghe file alle biglietterie: musei, parcheggi, trasporto pubblico, tutto è a portata di click, per i residenti e per i turisti.
Scaricando l’App gratuita MYPASS VENEZIA, disponibile su IOS e Android, da oggi ogni utente può accedere ad un’offerta multiservizi ricchissima, unica in Europa. Dalla Biennale al Guggenheim, dal parcheggio dell’aeroporto Marco Polo a quello di Piazzale Roma, dalla Scuola Grande di San Rocco alla lirica del Teatro La Fenice, al trasporto pubblico… ogni biglietto è acquistabile on time o prenotando nelle date desiderate.

La App, disponibile in multilingua, e negli ultimi mesi è cresciuta moltissimo: oltre 3000 download solo nell’ultima settimana e migliaia di biglietti acquistati inApp confermano che MyPass Venezia può realmente migliorare l’esperienza del visitatore e la vita della città, permettendo di eliminare fastidiose code e congestioni.

E’ la prima volta in Italia che un’unica App permette, con estrema semplicità e comodità, di prenotare e pagare un posto auto, i biglietti dei traghetti, dei musei e di tanti altri servizi, alle tariffe ufficiali o con minime commissioni di vendita. Il biglietto elettronico è memorizzato nell'App pronto per essere utilizzato per l’accesso diretto e può essere conservato, così da permettere all’utente un veloce riepilogo dei servizi fruiti e un controllo spese.

Il pagamento avviene in modo semplice, abbinando a sistema una qualsiasi carta di credito o prepagata ed è rapido e sicuro grazie al gateway Banca Sella, partner di MyPass.

In sintesi, l’App gestisce le tariffe delle diverse biglietterie configurandosi come un’unica biglietteria virtuale della città. Non solo: un po’ come un cittadino del posto MyPass suggerisce anche eventi, spettacoli e attrazioni fuori dalle solite rotte.

“La visione che ci anima – dice Guya Paganini, Ceo e Fondatore di MyPass – è quella di permettere al turista di organizzare al meglio il proprio tempo, portando con sè il ricordo di una visita, senza stress, alle infinite proposte di arte, architettura e musica di questa straordinaria città. Nello stesso tempo la nostra attenzione è rivolta anche alle strutture che oggi devono gestire flussi convulsi, disordinati e spesso critici di visitatori. La nostra ambizione è nel motto che ci ispira: Empower every tourist, care for the city. Siamo molto fiduciosi che questa visione possa regalarci grandi soddisfazioni: MyPass è in uso nei parcheggi ufficiali dell'Aeroporto Marco Polo, dove tra l'altro abbiamo brevettato una soluzione di accesso via BLE unica in Europa, poi la Collezione Peggy Guggenheim, la Casa Tre Oci, la Scuola Grande di San Rocco, Vela – Venezia Unica e La Biennale Arte 2019, per cui siamo felici ed orgogliosi di offrire ai numerosissimi visitatori attesi per la 58°edizione il nostro sistema unico di accesso alle varie sedi espositive”.

I principali plus di MyPass Venezia sono:
DEMATERIALIZZAZIONE. Niente più biglietti, tutto è a portata di smartphone.
MULTICANALITA’. Collegandosi all’App si possono acquistare biglietti, parcheggi, ticket per il servizio pubblico.
RISPARMIO. Acquistando tramite l’App non ci sono costi aggiuntivi e si può fruire di biglietti ridotti in molte strutture

VELOCITÀ. Tutti i servizi sono prenotabili o acquistabili on time, consentendo di saltare le lunghe code in biglietteria.

https://www.mypassvenezia.it

MYPASS è nata a Firenze nel 2014 come startup innovativa e ha saputo rapidamente trasformarsi da startup fintech in una vera e propria azienda che oggi ha sede a Torino e impiega 15 dipendenti di cui oltre la metà ingegneri del Politecnico di Torino e Milano. Dal 2017 è partecipata da Banca Sella. MyPass ha sviluppato una piattaforma tecnologica assolutamente unica perché abbina il mobile payment al servizio di accesso diretto: con due semplici passi – registrazione e abbinamento della propria carta di credito – l’utente può accedere direttamente alle strutture mostrando la propria app, saltando la coda e senza la necessità di convertire il voucher in biglietto. La visione di MyPass è permettere al cittadino e al turista di accedere a numerosi servizi con un’unica app /piattaforma, realizzando così una smart mobility reale, efficace e comoda.

Guya Paganini
MyPass Srl
+39 011 839 7809
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Source: EIN Presswire

A Single Payer Healthcare System Will Bring Back Our Manufacturing Industry

A Single Payer Healthcare System Will Bring Back Our Manufacturing Industry

A Single Payer Healthcare System Will Bring Back Our Manufacturing Industry (2)

A Single Payer Healthcare System Will Bring Back Our Manufacturing Industry (3)

A Single Payer Healthcare System Will Bring Back Our Manufacturing Industry (4)

A Single Payer Healthcare System Will Bring Back Our Manufacturing Industry (5)

DISTRICT OF COLUMBIA, UNITED STATES, June 13, 2019 /EINPresswire.com/ — In order to rebuild our Manufacturing Industry, create manufacturing jobs, make greater profits, pay higher salaries, and give employees greater freedom, we must change our Healthcare Industry and the way we pay for it.

The United States cannot compete with other industrial countries because our manufacturing costs of goods is higher than their selling prices of a similar good. Our manufacturing costs have increased year after year during the past three decades because our national health care expenditures have increased during this same period, while the international competitors have maintained low health care expenditures. The reason is they are on a single-payer health care system while we are not. Our country's national healthcare expenditures are eighteen percent of the GDP on health care, while other industrial countries average about seven percent of gross domestic product. Our manufacturers incur the costs of healthcare into the price of manufactured goods, while our international competitors do not.

In the United States, the majority of health care costs are paid by employers. Employer health care costs come in two categories, direct costs, the costs paid for the employees' benefits, and indirect costs, the health care costs included in products or services they purchase from others, and Social Security costs. All goods or services that are utilized have built into its price direct costs of health care for its employees and indirect costs.

All manufacturers must sell their products at a price above their cost break-even line. Any cost incurred by a manufacturer is marked up a reasonable amount to set the selling price, cover taxes, cover product over-runs, and make a profit. For this discussion, I am going to use a forty percent markup.

Our country spends eighteen percent of the GDP on health care, while other industrial countries only spend six percent. Our nation used to spend the same percentage as other nations but that was prior to the industry giving secret kickbacks to the insurance companies for referring their insured members to the providers. When you mark up the eighteen percent by an additional forty percent, the total cost of the direct and indirect cost goes to about twenty-five percent of total manufacturing costs.

Since 1982 the health care industry increased its share of the GDP from seven percent to today's eighteen percent. Correspondently manufacturing industry decreased its share of the GDP from thirty-four percent to twenty-three percent. The healthcare industry adapted the restraint of trade practices, eliminating competition between parties. The actual competition was which provider was going to give the insurance companies the largest kickback in order for the providers to have access to the insured members.

As the manufacturing marginal costs became greater than the competitive prices of similar goods due to increased health care costs increases the companies closed and filed for bankruptcy. The Federal Trade Commission and the Department of Justice were negligent in not recognizing the harm one industry was doing to another industry. Our antitrust laws are not only meant to protect us from one company becoming dominant in one industry but also to protect another industry from being damaged by a rival industry. The DOJ did not even recognize the price discrimination between private-pay patients, the actual difference collected from uninsured patients and insured patients.

The legislative branch of our government got into the health care business in 1965 but failed to control the costs spent on health care. There is an axion that states: when the government goes into business it never fails but passes on its losses to the people by increasing taxes. This is what happened with Medicare and Medicaid. There was an early warning sign in 2006. The amounts listed on the beneficiaries' bills were causing problems. The General Accounting Office was charged with determining the costs for Medicare Part B hospital out-patient services. In their report to Congress it noted that if it would be allowed to recompute the Medicare Part A hospital in-patient services, Medicare could save seventy-two percent for this program. This fact was never acted on and completely ignored. Today, the could save figure would be closer to eighty-five percent.

To bring back our manufacturing industry, create new companies and increase production of manufactured goods for export, we must lower our national health care costs to that of other nations, which are now part of and paid for below the manufacturers' cost break-even points and move them above the cost break-even point; like other nations we must pay for health care out of profits. Not only health care costs but all costs employer pays associated with its employees, including Federal Insurance Contributions Act (FICA). Our international competitors have already done this and their goods are more competitively priced.

We can produce goods at lower prices than our international competitors. It is a fact we still have a high productivity rating, due to the adaptation of automation, a well-trained labour force, a very strong infrastructure supporting businesses and low energy costs. We have been investing in better technology and greater automation, but our international competitors have been investing in new technologies and automation. We have trillions of dollars waiting and looking for the coming of a second industrial revolution in the United States and a rebirth of our manufacturing dominance.

Lowering corporate taxes is a benefit to existing businesses, giving them a short-term profit. But, lowering taxes does not lower the cost of manufacturing because it only affects the revenues above the cost break-even line. The Congressional Budget Office has just revised the forecast downward for the creation of new jobs because of the latest tax refund legislation and increased the increase to the national debt from $11.5 billion to $13.5 billion for the next ten years.

When these recommendations for a single payer system and revised tax system are implemented there will be many changes taking place, some good and some bad. On the good side, everyone will be covered for health care, people with pre-existing conditions will be covered and people will have their choice of the healthcare provider. Employees with existing illnesses or disabling skills will be able to get jobs and hold on to them with their skills to produce. The money allocated to the employees for health care will be paid to them in the form of higher wages, about $10 thousand per employee, plus FICA taxes. The salary increase will be the biggest recorded in our nation's history while creating a huge consumer group flush with money. The 1.7 million bankruptcies personal bankruptcies due to health care costs will be eliminated. The 25 percent of administrative health care expenditures for billing and collecting will be eliminated. The national health care expenditure will be cut in half or lower. The trade deficit will be eliminated. The National Debt will be lowered. With universal healthcare, all employees will have greater freedom of choice of where they work and not have to worry about changing jobs with a loss of medical coverage. The state's Medicaid expenditures will be eliminated and should immediately be moved to offset the cost of free higher education, like every other industrial country.

On the downside, the bad news is: based on a comparison with the insurance companies' employees per capita of Canada 250,000 sales jobs will be lost, there is no need for salespeople; these sales jobs should easily be moved to the manufacturing industry. Taxes paid for The Federal Insurance Contributions Act (FICA) will be increased and a flat tax added to the corporate and personal income rates. The total FICA tax is 15.3%. That percentage is applied to the employee's gross pay. The employer and employee each pay 7.65%. Here is the breakdown of these taxes:

• Within that 7.65%, the OASDI (Old Age, Survivors, and Disability program, AKA, Social Security) portion is 6.2%, up to the annual maximum wages subject to Social Security.

• The Medicare portion is 1.45% for each employee, on all employee earnings.

The new amount of the flat tax will have to be determined by the General Accounting Office and should be added on all earned income tax levels, which will ensure all people pay their fair amount of taxes. The medical portion should only rise 3% to 4% raising each contribution to 10.65% to 11.65%. Included will be the governments' obligation to our military veterans. The rise in the amount collected for the new taxes will be far lower than each person's increase in income.

Our progressive personal income tax system is fair. We realize certain individuals will always make more than others, allowed to keep most of it which are a strong motivator for success. We also realize that when more is given to an individual under our capitalistic system, a strong financial system is required for maintaining our freedom, therefore in the short run more has to be given to the government for the maintenance of the country, maintenance of our capitalistic system and the benefit of its citizens who make it possible. In the future, we will pass legislation for the maintenance of a balanced budget. When the transition is finished, we must allow market forces to stabilize all industries and keep government interference to a minimum.

The country must make the changes advocated or we will be facing financial ruin. Manufacturing creates wealth. Without a strong manufacturing industry, we will become a third world country, with our main industry becoming agriculture. The cost of our products will keep rising because other rich nations will be buying our products and will inflate our costs.

Every candidate for Congress, no matter what party, must support these changes. Any candidate that does not support these changes should not be elected. This is a win, win situation for each party. We can create lower manufacturing costs, create new manufacturing companies and have universal healthcare coverage. It is our responsibility to notify our representatives what we want. It is our responsibility to make sure these changes are implemented.

Roy J. Meidinger
Saving the World
+1 954-790-9407
email us here


Source: EIN Presswire

Decision Point AI Operational Passports with Algorithmic Blackbox

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Decision Point AI operational passport and blackbox for regulatory and compliant working environments

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Karl Smith Director of Decision Point in Grace Building in NYC with Empire State building out the window

Karl Smith Director of Decision Point

Decision Point has adopted an Operational Passport approach in response to growing concerns around AI’s leading to legislation or certification

Veriluma Limited (ASX:VRI)

Companies need proof and traceability to confidentially make decisions the Decision Point AI operational passport and blackbox establishes assurance in regulatory and compliance environments”

— Karl Smith, Director of Decision Point

LONDON, UNITED KINGDOM, June 12, 2019 /EINPresswire.com/ — AI algorithms operation and trust

Decision Point has unlimited potential in all verticals and sectors and can deliver information in a useful format on which to base decisions. In response to growing concerns around the operation and accountabilities of AI algorithms and the potential for legislation or certification of AI's Decision Point has decided to adopt an Operational Passport approach.  The AI Operational Passport is linked to the existing augmented intelligence platforms capacity to create regulatory point in time reporting. The functionality for the AI Operational Passport already exists as it is fundamental to defence and security to have traceability on decision making for oversight and legality of actions.  Additionally the adoption of this approach follows the recently launched United Kingdom report on Trust, Transparency and Technology: Building Data Policies for the Public Good, by the All-Party Parliamentary Group on Data and Analytics.

Building assurance into AI algorithms

With the levels of complexity and constant market movement experienced by organisations, enterprises, divisions defining the right question can often be a huge and expensive process. Long before being able to decide the next move, having the capacity and time to understand all the data points, opinions and perspectives requires months or years to confidently direct transformation, customer relationship management, operational risk management. And for fast moving aspects of commerce, transactions need to rely more and more on automation.

Companies need proof and traceability to confidentially make decisions an AI operational passport with an algorithmic blackbox establishes the assurance needed in regulatory and compliance environments not only explain what was done but why. Karl Smith, Director of Decision Point

Instead of just providing an AI, Decision Point creates augmented intelligence solutions with its clients. These solutions bind technology (computational power) and human subject matter expertise insights together to enable leaders and automated systems to deliver confident, effective and influential decisions driving organisations, enterprises and divisions to new levels of success.

Decision Point algorithms

Decision Point creates algorithmic logic models based upon subjective logic for each query our clients have. Each query is built with the direct engagement of client side subject matter experts to provide subjective insights on the rules and priorities within the data supplied for the algorithmic logic models which are then productised as queries and tool sets for clients.

Algorithmic operational passports

Algorithmic Operational Passports consistent of two key components;

Controlled Vocabulary for defined meanings for regulatory and algorithmic refinement purposes.
Algorithmic Blackbox for point-in-time reporting and records for regulatory and quality audit, facilitating the investigation of activity and incidents.

To find out more about Decision Point AI Operational Passports please contact a Consultant

Karl Smith
Decision Point
+1 800-650-2487
email us here
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Source: EIN Presswire