Tag: insurance companies

Climate change challenges getting the best of most insurance companies

Julie Campbell
climate change challenges

A recent report showed that the majority of insurers are not keeping up with the trends when making investment decisions. When it comes to the climate change challenges faced by insurance companies, many are not being met. In fact, a recent study said 90 percent of insurers are failing in this important area. Insurance companies aren’t considering climate change when they decide on investments, said the report. This information was presented by the Asset Owners Disclosure Project in a report they published. The Asset Owners Disclosure Project conducted the research.…

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Life insurance companies must try harder to locate beneficiaries

Marc
life insurance companies

States say insurers should be making a greater effort to find heirs to ensure payments are being made. Life insurance companies have paid beneficiaries billions of dollars in unclaimed policy payouts. That said, if many states are successful, it could mean that even more beneficiaries will be receiving funds. Certain state actions aim to force insurance providers to make a greater effort to locate heirs. Almost two dozen states have passed laws pushing life insurance companies to look for policy beneficiaries. Among them, Illinois has become the most recent state…

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American boat insurance now available for travelers to Cuba

G. Turner
american boat insurance

The United States has now approved a coverage for craft traveling into Cuban waters. American boat insurance is now available to boaters traveling from the United States into Cuban waters. Marine insurance company, Pantaenius, will be offering policies for this situation. This may reduce a considerable barrier to Cuban travel for the purposes of cruising and fishing. While the embargo for travel to Cuba was lifted nearly a year ago, hull insurance had yet to be allowed. When the embargo was lifted, U.S. citizens with a legal reason to travel…

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The Brexit insurance industry impact is already showing

Julie Campbell
Insurance company brexit strategy

One of the first things that happened following the announcement of the voting results was plummeting shares. Across the United Kingdom, the Brexit insurance industry impact was felt right away as the voting results were revealed. Shares throughout the sector plummeted, leaving investors and insurers reeling. Growing fears from experts appear to have taken an axe to stock prices. The main concern is the effect the Brexit will have on Lloyd’s of London, the massive insurance market. Lloyd’s currently enjoys a special appeal to other insurance companies. This is because…

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Foo Fighters file lawsuit against Lloyds of London

Julie Campbell
Foo Fighters Lloyd's of London insurance lawsuit

The band sued the insurance companies in Los Angeles with regard to cancelled shows. The Foo Fighters have now filed a lawsuit against the massive Lloyd’s of London insurance market and other insurers. The suit was filed against the 328 year old insurance companies in Los Angeles. The lawsuit also extends to Roberson Taylor, the broker behind the purchasing of the policies. The lawsuit alleges that the insurance companies and Lloyd’s of London “failed to pay amounts that even they appear to recognize are due and owing.” This was in…

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If SpaceX rockets are to be reused, they’ll need insurance first

H. Cutner
SpaceX rockets spacecraft technology

The company is looking to use their technology more than once and is preparing to recover them for re-launch. Now that it has been shown that SpaceX rockets are able to make landings on a consistent basis, they are now looking to insurance underwriters to make it possible to be able to reuse those devices for the launch of commercial satellites. The insurance industry will need to be heavily involved in this process in order to manage the financial implications. Over the next week or two, the Hawthorn space company…

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Two-tier insurance company capital standards proposed by Fed

Marc
Insurance company capital standards business financial skyscrapers

The concept is to treat exceptionally large firms differently from others within the industry. The Federal Reserve proposed new insurance company capital standards as a part of a two tiered system that had already been expected for the industry and that is expected to provide significant protection for the American economy. Within this system, major insurers are going to have different capital requirements applied to them. Prudential Financial Inc. and American International Group Inc. will both have different insurance company capital standards applied to them due to their size and…

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