Flooding is the biggest under-insured climate risk in Canada, said Victor Adesanya, vice-president of insurance at DBRS Morningstar, especially during the spring thaw.
Continue ReadingA Calgary family is homeless after fire tore through their home. They lost two dogs, all their possessions and a home business in the fire.
Continue ReadingBy Tasha Williams, Senior Research Writer and Max Dorfman, Research Writer Women contribute more earnings to their households and feel more confident about personal finance than prior generations. However, they still face hurdles to taking charge of planning for their financial future and legacy. Findings from a new report, Lack of Knowledge and Confidence Deter Women from Purchasing Life Insurance, produced […]
Continue ReadingBy Maria Sassian, Triple-I consultant The COVID-19 pandemic contributed to a decrease in life expectancy in the United States for the first time in decades, according to the Centers for Disease Control and Prevention (CDC). After climbing steadily for many years, life expectancy fell by 1.5 years from 2019 to 2020 – the largest one-year […]
Continue ReadingWill life insurers be able to pay all the death claims attributable to COVID-19 that come on top of claims for deaths not directly related to the pandemic? Triple-I chief economist Dr. Steven Weisbart says they can. How many additional death claims will COVID-19 cause? As of this writing, officially about 90,000 Americans have died […]
Continue ReadingCOVID-19 has changed many aspects of our lives, so it isn’t surprising to see life insurance markets affected. But some stories create false impressions that should be corrected. The story that some life insurers are writing fewer policies “because of COVID-19” has gained traction in both traditional and social media. While not wrong, like other […]
Continue ReadingSocial media has been abuzz with posts suggesting life insurance claims related to COVID-19 are being summarily denied. Much of the anxiety seems to stem from a news story titled: Would my life insurance policy cover COVID-19 related death? An anchor for the news organization that aired the piece shared it on Twitter below the tweet: Will your life insurance cover you if you die […]
Continue ReadingHealth insurance Buying health insurance? What to know during the coronavirus pandemic Care providers may need $100B more as industry faces further COVID-19 losses What to Do if You Can’t Pay for Insurance Due to Coronavirus Health Insurance Rates Could Be Weirdly Stable: Actuaries How Will COVID-19 Affect the Health Care Economy? Life insurance Certain […]
Continue ReadingA.M. Best Holds Stable Outlook on U.S. Health Industry Amid COVID-19 Pandemic Crisis Insurance rating agency A.M. Best said it is maintaining its stable market segment outlook on the U.S. health insurance industry, despite the impact of the COVID-19 virus outbreak. It cited: A trend of strong earnings; Strengthened risk-adjusted capitalization; Lower-than-estimated utilization and medical cost […]
Continue ReadingBy Dr. Steven Weisbart, Chief Economist, Insurance Information Institute Beginning in 2020, the Social Security fund for retirees will be paying out more than it is taking in. This means that if there are no significant changes, in about 2034 the fund will exhaust the surplus it had built up since 1983. In that case, […]
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