Insurance industry
Insurance companies in China have amassed significant wealth, investing a combined 1.05 trillion yuan (US$133 billion) in the stock market, with a focus on banking stocks. The China Insurance Regulatory Commission (CIRC) has recently reported that insurance companies held 49.9 billion yuan of shares as of the
Insurance industry
The China Insurance Regulatory Commission (CIRC) is working on two sets of implementing rules concerning credit and equity investment schemes for the investment of insurance funds in infrastructure construction. The new rules aim to enhance governance of insurance funds and transparency in information disclosure. According to Sun Jianyong, director of
Insurance industry
AAMI, a leading insurance provider in Australia, is expanding its business insurance operations, targeting small to medium enterprises (SMEs) and home-based businesses. The rebranding of its small business insurance lines under the AAMI banner represents a significant opportunity for growth and expansion, leveraging the company's existing customer base
Insurance industry
Insurers, environmentalists, and politicians are engaging in unprecedented discussions about the link between coastal development, climate change, and insurance rates. As devastating hurricanes prompt companies to raise rates and pull back from the coasts, the industry is aligning with environmental groups and arguing for reforms that could impact development patterns.
Insurance industry
Cigna HealthCare, a prominent health insurance provider in Florida, has emerged as the highest-performing plan among the state's largest health insurers, according to a recent survey conducted by the Florida Health Care Coalition (FHCC). The coalition, which comprises major employers such as Florida Power & Light Co., Publix
Insurance industry
Lexington Insurance Company, a member of American International Group, Inc. (AIG), has announced the introduction of Evacuation Response Coverage for select healthcare and higher education institutions. This coverage provides policyholders with protection against expenses incurred due to mandatory evacuation orders from local civil authorities. The coverage insures evacuation expenses for
Insurance industry
Florida's insurance market has been struggling to recover after two punishing hurricane seasons, with many insurers forced to provide millions of dollars in cash from their parent companies to help pay for damages. The state's insurer of last resort, Citizens Property Insurance Corp., is set to
Insurance industry
Sustainability experts and insurance companies are considering the financial implications of climate change, as rising temperatures and extreme weather events impact policyholders. Reinsurer Swiss Re has recently joined a statement promoting carbon awareness, and experts believe that business interest in climate change is not just altruistic, but also driven by
Insurance industry
As the Northbrook-based auto and home insurer digs out from the aftermath of Hurricanes Katrina and Rita, its profit for the first quarter has exceeded expectations, reaching $1.42 billion, or $2.19 a share, up 26% from the same period in 2005. Despite this, the company's shares
Insurance industry
A national inquiry into the motor vehicle insurance industry has uncovered widespread corruption and malpractice, with major insurers including AAMI and the NRMA making damning submissions detailing secret commissions, inflated quotes, and other illicit activities. The inquiry has attracted little attention, yet the revelations are likely to lead to significant
Insurance industry
A New Jersey doctor, Allen Glushakow, and his wife, Shelley, have filed a class action suit against Confederation Life Insurance Co., alleging that the company misrepresented its financial health. The suit was originally filed in state court in New Jersey in June, but after regulators seized the company in August,
Personal finance
As the UK government reduces state benefits for workers taking sick leave, insurance companies anticipate a surge in sales of permanent health insurance (PHI) policies. However, individuals considering PHI should carefully review policy rules to avoid potential pitfalls in claim eligibility. The complexities in determining when an insurer will pay
