LONDON (Reuters) – Global commercial insurance rates rose 19% in the second quarter, driven higher by claims related to COVID-19 and other large losses, insurance broker Marsh said on Monday. The rate rise was the highest since Marsh began its commercial insur... More »
(Reuters) – Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive investment portfolios. Executives, lawyers and a... More »
NEW YORK (Reuters) – If you were laid off in April, the health insurance from your job may stop at the end of the month. Then what? Rest assured there are options, even if they are all expensive. If you are losing a workplace plan, you will get paperwork expla... More »
LONDON (Reuters) – The Global Federation of Insurance Associations on Monday warned the world’s governments of the danger of forcing insurers to pay out for losses suffered due to the coronavirus even when pandemic losses were not included in existing policies... More »
LONDON/RIYADH (Reuters) – Saudi Aramco is looking to buy insurance against war and terror attacks after a damaging drone and missile attack on some of its oil facilities in September, two sources told Reuters. Aramco, the world’s largest oil company, has been ... More »
(Reuters Health) – When insurance covers in vitro fertilization, more women struggling with infertility, especially those with limited financial resources, will use the method to improve their chances of having a baby, a new study suggests. Researchers found t... More »
(Reuters) – Last March, a 103-year-old resident of a Sunrise Senior Living facility in Willowbrook, Illinois, went on a field trip to the movies. Ruth Smith, who used a walker, fell down two concrete steps in the theater and died about six weeks later. Now Smi... More »
WASHINGTON (Reuters) – The Trump administration has decided it cannot authorize new flood insurance policies, citing the partial shutdown of the federal government due to a budget impasse in Congress and potentially putting thousands of home sales in limbo. Th... More »
(Reuters Health) – Under the Affordable Care Act (ACA) provision allowing adult children to stay on their parents’ health insurance policy until age 26, young women with gynecological cancers were diagnosed and treated sooner, researchers say. Before the law, ... More »
(Reuters Health) – Without some kind of health insurance, getting an appointment with a primary care doctor, and being able to pay in full or over time remains a challenge for millions in the U.S., a recent study suggests. Although the number of uninsured is d... More »
NEW YORK (Reuters) – A cute Maltipoo puppy could never harm anyone, right? But looks can be deceiving. Dogs of any size or breed could inflict serious damage, leading to large insurance claims. Over the past 14 years, canine-related injuries – from bites to ac... More »
FILE PHOTO: Film producer Harvey Weinstein attends the 2016 amfAR New York Gala at Cipriani Wall Street in Manhattan, New York, U.S., February 10, 2016. REUTERS/Andrew Kelly/File Photo (Reuters) – Insurer Chubb Ltd is refusing to pay for Harvey Weinstein’s leg... More »
FILE PHOTO: Berkshire Hathaway CEO Warren Buffett waits to play table tennis during the Berkshire Hathaway annual meeting weekend in Omaha, Nebraska, U.S. May 7, 2017. REUTERS/Rick Wilking/File Photo (Reuters) – A giant hurricane, earthquake or other conflagra... More »
LONDON (Reuters) – Hedge funds and other managers of catastrophe bond funds racked up some of the worst losses in more than a decade from this year’s hurricanes and wildfires. But a year that is shaping up to be the costliest on record for insurance losses fro... More »
Travelers Cos Inc (TRV.N) plans to stick to its recent growth pace for sales of cyber insurance, which protects businesses against hacking and other liabilities, despite potential to boost it, as the insurer assesses risks in the segment, its head of specialty... More »
Insured property losses from wildfires that raged through Northern California wine country this month, killing at least 42 people and destroying thousands of businesses and homes, could total $2 billion to $3 billion, a risk-modeling firm said on Thursday. More »
Insurers and reinsurers around the globe are looking to raise rates after what looks set to be their most costly quarter on record. More »
Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway. More »
As Hurricane Irma battered Florida, the cream of the insurance world -- gathered under the Mediterranean sun in Monte Carlo -- was assessing the costs of the storm for the global industry. More »
The first global standard for investors to compare how much capital insurers from different countries hold to keep policies safe is caught in a transatlantic tussle, casting doubt on whether it is practical, industry and regulatory officials say. More »
Insurers are scrambling to find inspectors in Texas and Florida after fierce hurricanes battered the states one after the other, causing tens of billions of dollars' worth of property damage in less than two weeks. More »
Krassi Nikov evacuated his home in Houston on Tuesday with more than 2 feet (61 cm) of water inside. Flooded for the second time this year, he plans to collect on his flood insurance again and rebuild. More »
U.S. Sen. Elizabeth Warren (D-MA) speaks as the Democratic party leadership unveils their “Better Deal” for America in Berryville, Virginia, U.S., July 24, 2017. U.S. Senator Elizabeth Warren called on Federal Reserve Chair Janet Yellen to remove members of We... More »
Two major U.S. health insurance groups on Friday called on Senate Republican leader Mitch McConnell to drop from a healthcare bill a provision proposed by Senator Ted Cruz that allows insurers to offer stripped-down, low-cost healthcare plans. More »
By Andrew M. Seaman(Reuters Health) – People who want access to the best cancer treatment centers in the U.S. may want to avoid health insurance pla More »
Senate Majority Leader Mitch McConnell speaks at a Harden County Republican party fundraiser in Elizabethtown, Kentucky, U.S., June 30, 2017. REUTERS/Bryan Woolston U.S. Senate Republican leader Mitch McConnell said on Thursday that Congress must act to shore ... More »
FILE PHOTO: Extensive damage is seen to the Grenfell Tower block which was destroyed in a disastrous fire, in north Kensington, West London, Britain June 16, 2017. REUTERS/Hannah McKay The insurance industry warned the British government of the dangers of flam... More »
FILE PHOTO: A man types on a computer keyboard in front of the displayed cyber code in this illustration picture taken on March 1, 2017. REUTERS/Kacper Pempel/Illustration/File Photo Many companies outside the United States may not have cover for a recent comp... More »
A woman walks past a sign of Japanese life insurer Mitsui Life Insurance Co., Ltd. at the company’s headquarters in Tokyo July 27, 2009. The characters read, ”Mitsui Life”. REUTERS/Stringer Mitsui Life Insurance Co plans to shift some funds to euro-denominated... More »
Retirees play poker at a singles club in Sun City, Arizona, January 4, 2013. REUTERS/Lucy Nicholson Getting financial advice on complicated insurance products is, well, complicated. More »
New Autopilot features are demonstrated in a Tesla Model S during a Tesla event in Palo Alto, California October 14, 2015. REUTERS/Beck Diefenbach Britain plans to introduce new insurance rules to ensure victims of accidents involving self-driving cars are com... More »
Scott Ozawa brushes his teeth with a Beam toothbrush at his home in Belmont, California, U.S. December 18, 2016. Picture taken December 18, 2016. REUTERS/Noah Berger Twice a day, Scott Ozawa’s Bluetooth-enabled toothbrush tells his dental insurer if he brushed... More »
Florida’s insurance commissioner is allowing MetLife Inc and Unum Group boost long-term care premiums, alleviating financial stress the insurers have been facing from rising medical costs and policyholders living longer. More »
A U.S. insurance company that works with more than 70,000 elderly policy holders to meet their healthcare needs is aiming to cut all of its financial ties to troubled hedge fund manager Platinum Partners by the end of the year. More »
HONG KONG Years of breakneck growth for China’s top insurers has been partly fueled by a splurge on risky investment products that could punch multi-billion-dollar holes in their balance sheets if the slowing economy triggers heavy debt defaults. Industry prem... More »
SYDNEY The head of Australia’s largest bank said its insurance business, CommInsure, had used an outdated and discredited definition of a heart attack to deny some claims from clients and he would apologize to any customers adversely affected. “I am saddened a... More »
WASHINGTON – U.S. President Barack Obama on Saturday laid out a plan to help support the income of workers who lose their jobs and end up in lower paying positions, as part of a push to get unemployed Americans back to work. The proposal would offer experience... More »
BOSTON A rash of hacking attacks on U.S. companies over the past two years has prompted insurers to massively increase cyber premiums for some companies, leaving firms that are perceived to be a high risk scrambling for cover. On top of rate hikes, insurers ar... More »
LONDON The world’s nine biggest insurance companies will have to hold more capital under new rules just finalised by global regulators that aim to prevent taxpayer bailouts of the industry in a crisis. Regulators decided to look at the multi-trillion dollar in... More »
ZURICH Zurich Insurance Group AG (ZURN.VX) abandoned its proposed 5.6 billion pound ($8.7 billion) bid for British insurer RSA Insurance Group PLC (RSA.L) on Monday after forecasting a $200 million loss in its general insurance business due to explosions at th... More »
