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...Ingosstrakh separately confirmed that it reserved the right to cancel cover for vessels caught selling oil above the price cap — even if vessels had avoided using western services....
...Home insurance is becoming increasingly unaffordable in areas such as California and Australia, as global warming has made storms, floods and wildfires more frequent and severe....
...Lemonade relies on advertising for growth because it sells cover directly to customers rather than through insurance brokers....
...Reinsurers have contributed to affordability problems, industry experts say, by charging much more for the cover they provide to primary insurers and tightening their terms....
...All this data combined is used to decide whether to offer insurance cover and at what price....
...Angela Eagle, Labour MP for Wallasey, said: “My constituents and many people that write to the committee feel that insurance is becoming more of a rip-off.”...
...Often, travel insurance is included either as an extra benefit or service through your bank or credit card company as part of a package of services for which you pay a monthly or annual fee....
...This has already occurred in home insurance relating to climate, with US states including Florida providing cover for homeowners who are unable to get it; the UK’s Flood Re is a joint government and industry...
...There were 12,000 more admissions paid for with private medical insurance in the second quarter of 2023 compared with the same period in 2022, a 9 per cent increase, PHIN said....
...As insurance companies recover from recent losses, and inflation falls, there should be scope for more competitive pricing....
...Speaking to the Financial Times, David Howden, founder and chief executive of insurance and reinsurance broker Howden, predicted the price of business cover would flatten this year as the supply of insurance...
...The Centers for Medicare & Medicaid Services said last month that Medicare Part D drug benefit plans will cover weight loss medicines when they are approved to treat a separate medical problem, such as heart...
...There were a record 37 extreme weather events around the world last year that led to payouts of more than $1bn each, according to figures from insurance broker Aon, with storms, floods and wildfires providing...
...Your Big Read on the home insurance affordability crisis (February 14) adds to an ever-growing body of evidence about the effects of climate change and the case for swifter, deeper action....
...Financial policymakers have urged hedge funds, pension investors and commodities traders to keep more liquid assets on hand and develop stress tests to better withstand shocks from extreme market moves....
...“Gap insurance can provide a useful service to customers, but in its current form it does not offer fair value and we want to see improvements,” said Sheldon Mills, executive director of consumers and competition...
...cost of cover to a record high....
...The positive data will be a boon to Eli Lilly’s efforts to push for more widescale coverage of the drugs by insurers and the federal health insurance programme Medicare, which were both initially reluctant...
...The wrangling as to which group was more liable “can go on quietly and sensibly, and it will go on behind the scenes”, he said....
...Brokers told the Financial Times that the negotiations for the January renewals were more orderly than last year’s talks, and that some reinsurers were again providing more cover....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...A new €1.5bn fund, its first targeted specifically at financial services companies, would capitalise on Cinven’s “proven track record” investing in the sector, said Caspar Berendsen, a senior dealmaker at...
...is also being pursued in London over its role in managing the insurance cover....
...Conditions in the UK insurance sector are now improving, with the cost of motor cover having risen to an all-time high....
...This is a test of the government’s commitment to support financial services. Lloyd’s may not get the attention its near-quarter share of City GDP deserves....
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