September 29, 2020 – Insurance24

29Sep

Funeral Assurers struggle to comply with prescribed asset ratio

29 Sep 2020 Insurance24

Funeral Assurers struggle to comply with prescribed asset ratio

Staff Reporter

Funeral Assurers compliance with prescribed assets declined by 50% in the half year ended June 30 2020 to 0, 02% from 0, 04% comparable period last year.

The funeral assurers are expected to comply with the minimum prescribed asset ratio of 10.00% as stipulated by Statutory Instrument 206 of 2019.

Insurance and Pensions Commission

29Sep

Those dying from COVID-19 are least likely to own life insurance

29 Sep 2020 Insurance24

U.S. life insurers are paying out far fewer COVID-19 death claims than initially expected, largely because the virus is disproportionately killing people with little to no insurance.

In the past few weeks, many life insurance companies have sharply reduced estimates of their exposure, as measured by payouts per 100,000 U.S. COVID-19 fatalities. Estimates have come down by an average of 40% to