All articles by LII editorial
LII editorial
Pet insurance outdoes income cover in the UK
Specifically, the life insurer found 12% of UK adults have insurance to protect their income should they be unable to work because of ill health, while 15% insure their pets and 13% their mobile phones
CSC backs underwriting technology
It is a goal US technology developer BioSignia claims it can greatly assist insurers in attaining with its Mortality Assessment Technology (MAT) Adding credence to its claim, US technology giant Computer Science Corporation (CSC) has formed an alliance with BioSignia to host MAT as an on demand or so-called cloud-based service
US small businesses face multi-billion dollar health reform headache
Small businesses in the US have joined forces to establish the Stop the HIT Coalition in an effort to prevent the introduction of Health Insurance Tax (HIT) in 2014. Forming part of the controversial Patient Protection and Affordable Care Act, the tax would add a cost burden totallingbns of dollars to businesses and their employees, claims HIT. For the small business community, controlling the increasing costs of health insurance premiums has been the top concern for decades,” said Dan Danner, CEO of the National Federation of Business, a coalition member.
Treasury barely breaks even on AIG share sale
Marking the first reduction of its equity stake in American International Group (AIG), the US Department of the Treasury has completed the sale of 200m shares in the insurer at $29 per share to private investors.
US insurers get it wrong with Gen Y and X work seekers
The key conclusion of the financial services organisation in its study is that financial services sales positions offer what most Gen X and Gen Y job seekers are looking for working in a stable industry with lots of growth potential and opportunities to make a difference in peoples lives
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UK guidelines streamline death benefit payments
Beneficiaries of life insurance policies in the UK can look forward to receiving payouts considerably faster, reports the Association of British Insurers (ABI) This follows the associations issuing of new guidelines aimed at cutting payment waiting periods from four months to just four weeks.
US plan sponsors are equity shy
Sponsors of pension plans in the US are increasingly shying away from equity and turning to liability-matching investment strategies, reports Aon Hewitt, the consulting and human resources unit of Aon Corporation.
Solvency II sword over European insurers’ US operations
European life insurers with US subsidiaries face being competitively disadvantaged in the US market by Solvency II, the European Unions (EU) new regulatory regime due to be implemented in the EU and European Economic Area (EEA) in 2013.
Manulife takes first step into microinsurance in the Philippines
Responding to a call by the Philippines insurance regulator to make life insurance more affordable, Manulife Philippines has entered the microinsurance market with a new product, FirstProtect
New York regulator acts to curb mis-selling
In a move to improve consumer protection, the New York State Insurance Department has issued what it terms two new “emergency regulations” relating to the sale of life insurance and annuities