Live Insurance News

Nikola D&O liability insurance problems are holding up settlements

January 23, 2024January 22, 2024 Julie Campbell

The zero-emission vehicle maker intends to resolve claims, but its insurers aren’t budging with approvals. Nikola Corp, the electric and hydrogen fuel cell vehicle company, is resorting to a Delaware court with claims that its directors and officers (D&O) liability insurance companies are getting in the way of settlement proposals from being completed in the Court of Chancery, the District of Delaware, and the District of Arizona. The automaker filed a complaint in the Complex Commercial Litigation Division of the Delaware Superior Court. In Nikola Corp’s suit, it said that…

Health insurance customers comprise most people with medical debt

January 19, 2024January 18, 2024 G. Turner

Health insurance - Past Due Medical Bills

This represents a dramatic shift from a previous time when most debtors were uninsured. The majority of people who have debt to American hospitals are individuals who are covered by health insurance, according to data recently released by medical billing analysts. Patients with coverage are often still unable to pay the bills they receive from hospitals. “We always used to consider bad debt, especially bad debt write-offs from a hospital perspective, those [patients] that have the ability to pay but don’t,” said Kodiak Solutions senior vice president Colleen Hall. Kodiak…

Auto insurance prices are a major US inflation driver

January 18, 2024January 17, 2024 Marc

Though there are many factors that have combined to push inflation rates paid by motorists are a large one. Though there has been an easing in the growth rate of inflation in the United States during the last twelve months, auto insurance premiums have been identified as a notable driver of the ongoing trend. Rapid growth in rates paid for coverage has played a role in stopping consumer prices from falling. In December 2023, consumers prices increased by 3.4 percent on average when compared to the same month in 2022,…

Georgia auto insurance rates rose faster than in most other states

December 18, 2023December 17, 2023 Nordstrom

Auto insurance - Georgia auto insurance rates increase

A new Bureau of Labor Statistics study showed the average amount by which rates rose in the US. The US Bureau of Labor Statistics recently released the results of an auto insurance prices study in which it showed that rates rose 19.2 percent nationally from October 2022 to the same month in 2023. That said, a new study on Georgia rates showed that drivers in that state saw higher increases. The second study was conducted by MarketWatch and showed that Georgia insurance rates increased by 22 percent from 2022 to…

Cigna insurance company ends its Humana acquisition intentions

December 15, 2023December 14, 2023 Logan B.

Insurance Company - Acquisition Cancelled

The insurer is now developing a $10 billion share buyback plan after a failure to agree on a price. Health insurance company Cigna has ceased its pursuit of a negotiation for acquisition of its rival insurer Humana. The company left its efforts when the two insurers were unable to agree on price. Cigna announced that it is working on plans for buying back $10 billion worth of shares. The health insurance company resulting from an acquisition of Humana by Cigna would have resulted in an insurer with an estimated value…

Businesses turn to tax insurance to cover themselves from unfavorable rulings

December 4, 2023December 2, 2023 Nordstrom

Underwriters and brokers are seeing their busiest year ever from companies buying these policies. Governments worldwide have been cracking down on companies that have been avoiding their taxes, and businesses are now buying tax insurance more than ever before in order to protect themselves against a costly dispute or unfavorable ruling. This year has proven to be a record-breaking year for the number of policies purchased for this reason. According to brokers and underwriters, by the close of December, this year will have seen the most tax insurance policies. This…

German regulator mislead by Greensill on insurance deal, says IAG

November 13, 2023November 9, 2023 Nordstrom

Insurance deal - Mislead - keyboard button

According to the accusation, the dupe was mean tot help reduce the unit’s capital requirements. One of Greensill Capital’s insurers has alleged that the failed lender duped German regulators regarding an insurance deal in an effort to try to shrink its Bremen-based unit’s capital requirements. Greensill investors are currently suing the Insurance Australia Group (IAG) as they face billions in losses. The investors have accused defunct Greensill supply-chain finance group of hiding that it did not have the insurance deal in place that they were led to believe. Instead, the…