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...Insurance prices are surging as companies look to repair their margins after years of significant losses from severe weather to insured properties, exacerbated by inflation in rebuild costs....
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...She proposed a range of solutions including tightening building rules, creating national and EU-wide schemes to share risks, and drawing more deeply on reinsurance markets....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...The area of private medical insurance that has seen the strongest growth has been in the number of people taking out personal cover, according to a survey by Statista Consumer Insights, a research company...
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...The FTSE 250 company, which runs 39 hospitals as well as clinics and medical centres, said it was also benefiting from a strong rebound in corporate private medical insurance as more employers take out policies...
...Monday’s report also called for bodies such as the National Infrastructure Commission, an executive agency that provides advice to the government, to be given a “broader remit and be less at the mercy of...
...According to the Office for National Statistics, the proportion of UK-listed shares held by insurance and pension funds has fallen since 1997 when the two sectors held a combined 45.7 per cent of UK quoted...
...Car owners have been squeezed by a surge in insurance prices since their pandemic lows, as companies try to reflect a surge in claims costs....
...Many economists say rising real wages, falling inflation, cuts in national insurance and the increase in the living wage will all help household incomes and spending....
...National General implemented rate increases at 10% in 2022 and an additional 12.8% in 2023....
...He confirmed the heavily trailed 2p cut in national insurance contributions, a shake-up of the “non-dom” tax regime and the creation of a “British Isa” to encourage investment in UK-listed companies....
...Most Conservative MPs welcomed the cut in national insurance rate from 10p to 8p, which repeated a 2p cut in the Autumn Statement....
...One Tory MP, when told that Hunt intended to cut national insurance and not income tax, said simply: “Oh no.”...
...The pledge comes three years after the insurance market apologised for its role in the trade, which included extending crucial insurance to voyages and even insuring slaves as cargo....
...The news will also come as a setback to attempts by Lloyd’s to bring more investors into the insurance market, which is a centuries-old hub for specialist commercial insurance and reinsurance....
...Earlier this week, Knight Insurance Group, one of more than a handful of companies that make up Hankey’s financial empire, put up a $175mn bond for Donald Trump, an amount the former president had to post...
...Britain established the world’s first postal savings system in the 1860s, today known as National Savings and Investments....
...A 2p cut in national insurance would cost about £10bn. The Treasury declined to comment....
...But in terms of the internal battle within the Tory party, the national insurance cut has done its job, in that Rishi Sunak is still prime minister....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
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