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[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 turned out to be a smart move as he had his first seizure shortly after we adopted him. After some tests, we discovered that Hyko would be taking epilepsy medication for the rest of his life. We weren’t too worried, though, because ManyPets promised “you…

[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 your trial Explore our subscriptions Individual Find the plan that suits you best. Professional Premium access for businesses and educational institutions. Check if your university or organisation offers FT membership to read for free. [ad_2] Source link https://deffrent.com/?p=5356&preview=true

[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 funded by the federal government has found it is inadequate. Some 88% of patients with experience in genetic testing and 90% of health professionals who took part in the study said laws were needed to regulate the issue. “Insurance fears can also act as a…

[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 UK is pressing ahead with plans to create a resolution regime to deal with the failure of big insurance companies, saying the “swift and decisive” action to rescue Silicon Valley Bank’s UK arm in March underlined the importance of such arrangements. The government said on Wednesday that it would legislate “when parliamentary time allows” to give the Bank of England new powers and flexibility to manage the demise of a large insurer, mirroring the resolution…

[ad_1] Britain’s second-biggest car insurer, Direct Line, has been ordered to go back through five years of claims after admitting it had underpaid some customers who had their cars and vans written off. After an investigation into the car insurance market that began in December 2022, the Financial Conduct Authority (FCA), this week ordered Direct Line to conduct a review of claims where vehicles had been written off “to identify any policyholders who received unfair settlements and provide them with appropriate redress”. Direct Line, which has recently been accused by customers of upping premiums by 50%-75%, said in a statement…

[ad_1] Receive free US insurance industry updates We’ll send you a myFT Daily Digest email rounding up the latest US insurance industry news every morning. Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money. And a run of unusually destructive bad weather has brought additional losses for their property-insurance businesses. Allstate reported a 2Q loss of $4.42 per diluted share earlier this week, with its stock down around 3 per cent since last Friday. (The stock is off nearly 20 per cent year to date.) Progressive’s stock has fared better after it eked out…

[ad_1] The largest home insurer in the US, State Farm, which is halting new homeowner policies in California due to the “rapidly growing catastrophe exposure” posed by wildfires, has hired lobbyists who also work to advance fossil fuel industry interests across 18 states, a new database shows. While State Farm in May refused to take new home insurance applications in California, it retains a lobbying firm in the state – the Sacramento-based KP Public Affairs – which also represents Tenaska, a gas developer. Across the US, State Farm shares lobbyists with a raft of oil and gas companies, including ExxonMobil,…

[ad_1] Receive free Berkshire Hathaway Inc updates We’ll send you a myFT Daily Digest email rounding up the latest Berkshire Hathaway Inc news every morning. Berkshire Hathaway’s cash and investments in short-term Treasuries surged to $147bn at the end of the second quarter, underscoring Warren Buffett’s faith in the backbone of global financial markets despite the rocky political climate in Washington. The sprawling conglomerate — which owns the BNSF railroad and Geico insurer — increased the holdings by nearly $17bn in the second quarter, to sit just below an all-time high of $149bn set in 2021. More than $120bn of…

[ad_1] When I tried to renew my van insurance policy with Privilege, the premium had increased from £508 to £989. Privilege said a claim had been made against me last year. In 2022, a car scraped the rear bumper of my van causing minimal damage. I reported the incident to Privilege, but did not make a claim. When I questioned this, Privilege admitted that the other driver had not made a claim either, but said the price hike was because there was a record of an incident. I tried another insurer which said the same and quoted me £850. I…

[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 your trial Explore our subscriptions Individual Find the plan that suits you best. Professional Premium access for businesses and educational institutions. Check if your university or organisation offers FT membership to read for free. [ad_2] Source link https://deffrent.com/?p=5344&preview=true