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Posts published in “Insurance”

Biden rescinds Trump-era Health Insurance Requirement for New Immigrants

United States President Joe Biden on Friday revoked a 2019 proclamation by former President Donald Trump that sought to bar the entry of immigrants who could not prove they had health insurance or could cover healthcare costs.

In an announcement by the White House, the Democratic president said the suspension imposed by his Republican predecessor “does not advance the interests of the United States.”

Two Bills Relating to Auto Insurance Claims Practices Advance in Texas

The Texas House of Representatives recently advance two pieces of legislation that address claims arising out of vehicle accidents.

Underwriters puzzle over how to make pandemics insurable again

When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies.

6 Great Things About USAA Auto Insurance

It can seem on the surface that one auto insurance company is not much different than the next. However, just a little digging can reveal some of the advantages that set USAA apart. Every driver in the US needs auto insurance, but deciding which company offers the best policies can be difficult.

People new to auto insurance and even those driving for years must do their homework when looking for an insurer. They may all seem the same. With a little due diligence, though, a driver can find good coverage and better discounts.

P/C Insurance Firms Lead as Global Insurtech Investment Soars to $2.55B in Q1

Global investment in the insurtech sector reached a new quarterly high of US$2.55 billion during the first quarter of 2021.

The number of mega-rounds reached eight, more than any other three-month period, according to the new Quarterly InsurTech Briefing from Willis Towers Watson.

EU Set to Approve Aon-Willis Merger; More Concessions Unlikely

Insurance broker Aon is set to gain conditional EU antitrust approval for its $30 billion bid for Willis Towers Watson without having to offer more concessions, people familiar with the matter said.

Aon, which clinched the deal a year ago to create the world’s largest insurance broker ahead of Marsh & McLennan Companies Inc., offered concessions to the European Commission earlier this month.

Insurtech Start-up OKO raises $1.2 million to bring Innovative Insurance to Smallholder Farmers across Africa

OKO, an Insurtech start-up that provides inclusive agricultural insurance to secure farmers’ income across Africa, has closed a Seed investment of $1.2 million. The round was led by by Newfund and ResiliAnce. Mercy Corps Venture, Techstars, ImpactAssets and RaSa also participated in the round.

UK Car insurance sees biggest price drop in six years

British motorists are facing the biggest drop in car insurance costs in almost six years, a price comparison website has found.

Confused.com says the average cost of car insurance has fallen by £87 in 12 months due to lower risk of accidents.

Auto Insurers Lead 2020 U.S. Property/Casualty Impairments: AM Best

Seven insurance company impairments were identified in the U.S. property/casualty industry in 2020, with five of the seven involving auto insurers, according to an AM Best special report.

Last year’s number was an improvement over 2019 when 13 impairments were identified, said the report titled “2020 US Property/Casualty Impairments Update.”

Ex-Allianz CFO Wemmer Plans to Form SPAC to Target Insurance Deals

Dieter Wemmer, a veteran insurance executive who was chief financial officer at Allianz SE, is launching a blank-check company to target deals in the sector where he worked for more than three decades, people familiar with the matter said.

Wemmer plans to raise about 250 million euros ($300 million) on the Amsterdam stock exchange in May, the people said, asking not to be identified discussing confidential information. He’s teaming up with Murray Wood and Santiago Corral, co-owners of insurance-focused investment firm Nazare Capital, to create the SPAC.