Physicians in Puerto Rico are taking a stance against the government and several insurance companies after they were refused payment for treating the poor. Doctors are threatening to discontinue their treatment of more than 1 million patients with Medicaid coverage if they are not compensated appropriately for their work. Governor Luis Fortuno has been attempting to mitigate the frustrations of the island’s physicians, but his efforts have been met with staunch resistance. Resolution of the issue, he says, lies in the hands of insurers. The government has announced that it…
Read MoreTag: international insurance market
Emerging markets show promise, according to Lloyd’s
Lloyd’s has been making a significant effort to improve access to overseas markets after seeing promising opportunities for international trade among emerging economies. Though Lloyd’s has been very active in this pursuit, it also published an article on its own website which requested improved cooperation among the participants in the markets, itself, and the managers within its own country, which would allow for further improvements to the current opportunities. It was acknowledged by Lloyd’s that regardless of the financial crisis worldwide, a number of emerging markets within Latin America and…
Read MoreThe cost of reinsurance in New Zealand set to triple starting July 1
As the rebuilding of Christchurch, New Zealand, continues months after a disastrous earthquake struck the nation, insurance companies are going to have a hard time finding reinsurance deals as prices are set to triple by July 1st, according to S&P’s analysts. The rise in reinsurance rates is due to the extent of the damage done in New Zealand by the initial quake and its subsequent aftershocks, which are still occurring today. As the aftershocks continue, so too does the damage worsen, driving reinsurers to raise their rates in an effort…
Read MoreFERMA petitions Brazil to rethink new insurance regulations
The Federation of European Risk Management Associations (FERMA) is calling upon the Brazilian government to make changes to new insurance regulations, claiming that they will threaten the ability of insurers to provide coverage for large commercial industries as well as drive up the cost of coverage. The regulations are scheduled to take effect by the end of the month, which has incited FERMA to take such an unusual step in appealing the government on behalf of its members. The regulations to be enforced in Brazil include provisions that would prohibit…
Read More