Potential UAW strike presents a near-term headwind for auto insurers – JPM
By Reshma Rockie George (Reuters) – J.P.Morgan on Thursday said supply chain disruptions from a potential United Auto Workers (UAW) union strike would cut new vehicle production, drive up used car prices…
Republican Gov Signs Law Mandating Insurers Cover Sex-Change Procedures For Minors
Republican Gov Signs Law Mandating Insurers Cover Sex-Change Procedures For Minors Katelynn Richardson on June 13, 2023 Republican Nevada Governor Joe Lombardo signed a law on Monday that requires insurance companies to…
California Blames ‘Climate Change’ For Major Insurer’s Decision To Stop Covering New Homes
California Blames ‘Climate Change’ For Major Insurer’s Decision To Stop Covering New Homes Laurel Duggan on May 29, 2023 State Farm will no longer take new homeowner insurance applications in California, a…
Exclusive-German insurers renew cover for blast-damaged Nord Stream gas link
By Jonathan Saul, Carolyn Cohn, Christoph Steitz and John O’Donnell LONDON/FRANKFURT (Reuters) – German insurers Allianz and Munich Re have renewed cover for the damaged Russia-controlled Nord Stream 1 gas pipeline, five…
Rising rates put pressure on U.S. insurers’ reserves, Fitch says
NEW YORK (Reuters) – Rising interest rates are eating into the reserves that U.S. life insurers must hold to deal with rate fluctuations, ratings agency Fitch Ratings said on Monday, creating an…
Aircraft lessors, insurers jostle in UK court over stranded jets in Russia
By Kirstin Ridley and Sam Tobin LONDON (Reuters) – AerCap, the world’s biggest aircraft lessor, said on Monday it was inconceivable that it would not recover some losses from insurers over jets…
Bank of England says insurers more likely to fail if capital cut rule goes ahead
By Huw Jones LONDON (Reuters) – Britain’s proposals to loosen capital rules for insurers will increase the chances of an insurance company failing by 20% in a given year, the Bank of…
South Korea looking into bonuses at insurers, card firms – Yonhap
SEOUL (Reuters) – South Korea’s financial regulator is looking into bonus schemes at major insurance and credit card companies as the government calls for firms with strong profits to help poor people,…
Japan insurers in talks with reinsurers to resume coverage in Russian waters
TOKYO (Reuters) – Three Japanese insurance companies that are set to halt marine coverage of risks related to the war in Ukraine starting next month are in talks with reinsurers to resume…
Factbox-Aircraft lessors sue insurers for $8 billion over trapped Russian planes
(Reuters) – Aircraft leasing firms are suing dozens of insurers for around $8 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow’s invasion…
Greenwich Psychologist Admits Defrauding Medicaid, Medicare and Private Insurers
Vanessa Roberts Avery, United States Attorney for the District of Connecticut, Phillip Coyne, Special Agent in Charge for the U.S. Department of Health and Human Services, Office of Inspector General, and David…
China broadens private pension scheme with new participants, products
SHANGHAI (Reuters) -China broadened its private pension scheme on Friday, allowing qualified banks and wealth companies to start individual pension businesses, and published a list of mutual fund products eligible under a…
Britain to help insurers invest in economy, trims bank tax rate
By Huw Jones, Iain Withers and Carolyn Cohn LONDON (Reuters) -Britain set out more plans on Thursday to help make it the world’s most competitive financial centre by easing capital rules for…
CDB Aviation latest lessor to take insurers to court
DUBLIN (Reuters) – CDB Aviation became the latest aircraft lessor to start legal action in pursuit of claims against a large number of insurers over jets it owns that are stuck in…
Insurers stare at up to $60 billion hit from Hurricane Ian, AIG chief Zaffino says
(Reuters) – Insurers face potential losses of up to $60 billion from Hurricane Ian, American International Group Inc chief Peter Zaffino said on Wednesday, in what could be the second largest natural…
U.S. Treasury proposes climate data collection rule for insurers
WASHINGTON (Reuters) – The U.S. Treasury on Tuesday said it was proposing a new rule to collect data on climate-related risks from property and casualty insurers, one of the first concrete actions…
San Fernando Valley Woman Sentenced to 6 Years in Prison for Defrauding Health Insurers by Submitting Claims for Botox Injections
LOS ANGELES – A San Fernando Valley woman was sentenced today to 72 months for conspiring to defraud health insurance companies by causing millions of dollars in fraudulent claims to be…
CVS Health, Centene lead health insurers lower after 2023 Medicare ratings
(Reuters) -Shares of drugstore operator CVS Health fell as much as 10% and insurer Centene slumped 8%, leading declines in major U.S. health insurers after performance ratings for health insurance plans from…
U.S. says insurers must still cover birth control after Supreme Court abortion ruling
By Daniel Wiessner (Reuters) – The Biden administration on Thursday warned U.S. businesses and health insurance providers that limiting coverage of contraceptives, after a U.S. Supreme Court ruling that overturned the constitutional…
Biden Admin Poised To Force Insurers To Pay For Sex Changes
Biden Admin Poised To Force Insurers To Pay For Sex Changes Laurel Duggan on July 26, 2022 President Joe Biden’s Department of Health and Human Services (HHS) moved to strengthen Obama-era rules…
Ship insurers seek more assurances on Ukraine grain corridor
LONDON – Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy…
U.S., Japanese insurers back autonomous vehicle firm May Mobility
By Joseph White DETROIT – U.S. auto insurer State Farm and Japanese insurance company Tokio Marine have joined in a $111 million funding round for autonomous vehicle technology startup May Mobility, the…
Former Rancho Mirage Resident Sentenced to More Than 8 Years in Prison for $44 Million Fraud that Illegally Billed Insurers for Cosmetic Surgeries
LOS ANGELES – A former Coachella Valley resident whom Israel deported after she and her then-doctor husband fled there to escape criminal prosecution was sentenced today to 97 months in federal…
Sovcomflot fleet fully covered by Russian insurers, CEO says
(Reuters) – RRussia’s state-run Sovcomflot has insured all its cargo ships with Russian insurers and the cover meets international rules, the chief executive said, after Western insurers withdrew cover. Western insurers halted…
Analysis-Aircraft lessors gird to battle insurers over Russia jet default
By Padraic Halpin, Conor Humphries and Tim Hepher DUBLIN – Lessors with hundreds of jets stuck in Russia are preparing for what one said would be a “vigorous” pursuit of insurance claims…
Sanctions tighten screws on Russia’s Sovcomflot as ship insurers cut cover
By Jonathan Saul LONDON – Western ship insurers are terminating cover for Russia’s leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for…
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