In an era marked by rapid changes, uncertain economic landscapes, and shifting customer preferences, the insurance industry finds itself facing unprecedented challenges. The traditional ways of doing business are being disrupted, and insurers are realizing that embracing innovation and transformation isn’t just a choice; it’s a necessity. Those insurers that manage to harness innovation and […]
Month: August 2023
UK must increase flood defence spending, insurance scheme chair urges
[ad_1] Receive free UK insurance industry updates We’ll send you a myFT Daily Digest email rounding up the latest UK insurance industry news every morning. Ministers must “go further and faster” on UK flood defence spending as the scale of the challenge from a worsening climate grows, the outgoing chair of the country’s flood reinsurance […]
Climate risks have made California uninsurable. When will we wake up? | Kate Aronoff
[ad_1] State Farm, the country’s largest property insurer, announced this week that it will almost entirely stop issuing new policies in California, the country’s largest property insurance market. The reasons for forgoing all that new business are entirely economic. The company cited “historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a […]
Insurer Just Group’s sales double as corporate pension deals surge
[ad_1] Receive free Just Group PLC updates We’ll send you a myFT Daily Digest email rounding up the latest Just Group PLC news every morning. Retirement income sales at the FTSE 250 life insurer Just Group more than doubled to £1.9bn in the first six months of the year, as soaring gilt yields fuelled corporate […]
Price of UK car insurance accelerates to all-time high
[ad_1] Receive free UK insurance industry updates We’ll send you a myFT Daily Digest email rounding up the latest UK insurance industry news every morning. The cost of UK motor insurance has soared to an all-time high, according to a closely watched index, heaping extra pressure on households already confronting a cost of living crisis. […]
How to save on insurance as Australian firms hike premiums by up to 20% | Australia cost of living crisis
[ad_1] If your car or home insurance is due for renewal, prepare for a shock. Many insurers are applying double-digit price hikes to premiums, significantly outpacing inflation. Insurance Australia Group (IAG), the country’s biggest general insurer that includes the brands NRMA Insurance and SGIO, is raising motor premiums by 14%, and property premiums by 20%. […]
Annuities look sexy again: should Barbie buy one at 64?
[ad_1] Last time I wrote about the fictional finances of a plastic doll, Barbie was 60 and consolidating 200 pension pots from her varied portfolio career since she first appeared in 1959. Now she’s 64 — though eternally youthful — and has a new movie out, she is old enough to worry about whether to […]
We’re at a loss, as ManyPets doubles the cost of our dog’s lifetime cover | Money
[ad_1] When my family adopted our dog Hyko five years ago, we immediately took out pet insurance with ManyPets. They are highly rated, so I thought it was a safe, if expensive, option, at £530. We went for pricier “lifetime” insurance so he’d be covered for chronic conditions, not just one-off accidents or illnesses. This […]
Can the UK financial regulator really end rip-offs?
[ad_1] Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. Subscribe to unlock this article Try unlimited access Only $1 for 4 weeks Then $69 per month New customers only Cancel anytime during […]
Life insurance fears deterring Australians from having genetic testing | Health
[ad_1] Concerns about insurance are stopping Australians from having life-saving genetic testing. Genetic screening can help prevent, diagnose and treat some conditions, however the life insurance industry is still allowed to ask for results when issuing some policies. The industry’s peak body introduced a moratorium in 2019 designed to stop discrimination but a new report […]