Britain’s markets regulator said on Wednesday it had failed to strike a deal with major insurers over prompt payouts to small businesses battered by the coronavirus pandemic, dashing hopes that a Supreme Court appeal could be easily avoided.
The Financial Conduct Authority (FCA) set a Wednesday deadline for talks with insurers, such as QBE and RSA, to ensure eligible business interruption (BI)
Pension’s asset base strengthens
Staff reporter
Revaluation of investment property and quoted equities in response to currency reforms and inflation saw an 843 % increase in the pensions total asset base in the half year to June 2020.
The two asset classes increased by 1 263.41% and 657,10% respectively while the total asset base of the industry increased to $66,41 billion as at 30 June 2020, up
Staff reporter
Fanset International says its new offering, User Based Insurance (UBI) is set to revolutionalise the local insurance industry as it aims to assist insurance companies to offer dynamic pricing to their customers.
This will be through use of its special technology that analyses driver’s behaviors and giving them a ranking on top of being able to accurately reconstruct accidents on the
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
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
When Brice Hagood moved to Europe, he wanted to make sure he had enough travel insurance. He went with a pricey type of travel insurance called expatriate insurance that also covered auto and medical. But soon he started to wonder: Did he have too much travel insurance?
“I discovered I was paying almost double what my colleagues were paying—and three times as much as locals,” says Hagood,
Receiving the best possible insurance is what you want, but you also want to keep your budget in check for your monthly or yearly payments. While being insured is definitely important, your budget needs to be left in a manageable state so you can afford everything else in your life as well.
Finding the best possible insurance is becoming easier due to all the choices, but sometimes insurance can
A freeze on state pensions will be avoided as the Department for Work and Pensions (DWP) introduces a bill to ensure the incomes of older people can increase next year.
The impact of coronavirus on the economy and earnings risked leaving pensioners without an uplift in April 2021
From time to time, somebody considering the world with lots of self-driving cars suggests that human driving will become discouraged, “because insurance rates will go through the roof.” They imagine that if the self-driving cars are much safer than humans (which is true by definition because they won’t see wide deployment until they are) that human drivers will be so poor in comparison that
Players in the workers’ compensation market have been busy the past six months as the coronavirus pandemic has wreaked havoc on businesses, physical workplaces, and employees. The National Council on Compensation Insurance (NCCI), for example, has made several COVID-related changes during this period, including collecting payroll for furloughed workers so that it wouldn’t be used in the premium