Insurance

4 Accident & Health Insurance Stocks to Watch Amid Pricing Pressure

The Zacks Accident and Health Insurance industry is likely to benefit from prudent underwriting and increase in underwriting exposure. Aflac (AFL), Unum Group (UNM), Amerisafe (AMSF), and Employers Holdings (EIG) should continue benefitting from prudent underwriting standards, though rise in claims frequency could weigh on the positives.  

The industry has been witnessing soft pricing over the past several quarters. Nonetheless, rise in claims due to the pandemic is likely to increase pricing for this industry in the coming days. Also, increasing adoption of technology in operations will help in smooth functioning of the industry amid coronavirus-induced challenges.

About the Industry

The Zacks Accident and Health Insurance industry comprises companies that provide workers’ compensation insurance, largely to employers operating in hazardous industries, such as construction, trucking, logging and lumber plus manufacturing and agriculture. These companies also offer group, individual or voluntary supplemental insurance products.

Workers’ compensation is a form of accident

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How to Get Property Insurance in High-Risk Areas

This story is being written as wildfires ravage parts of the West — my state, California, in particular — and hurricanes leave Southeastern cities resembling war zones.  My column has received dozens of emails and phone calls from readers in these areas, all facing the same nightmare:

“We have homeowners insurance for our home and commercial property insurance for my business, but my agent has just told me that I will either be forced to pay an astronomically high rate to keep the insurance, or the company will just refuse to renew the policies, as I am in a high-risk area.

“No doubt we will face similar environmental threats in the future, so is there any way of obtaining insurance without going broke?”

Calls from Worried Policyholders in High-Risk Areas

Los Angeles-based insurance broker Karl Susman is receiving dozens of calls daily from his clients who live in high-risk areas

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U.K. Insurance Ruling; Businesses Make Deeper Cuts: Virus Update

(Bloomberg) — Citigroup Inc., Qantas Airways Ltd. and Singapore’s United Overseas Bank Ltd. joined companies worldwide making deeper cost cuts, from property and equipment to staff and pay, as the pandemic persists.

A U.K. court ruling in a landmark insurance case could lead to tens of millions of payouts related to Covid-19. Britain’s labor market took a turn for the worse in July, taking total job losses during the crisis to almost 700,000, fresh data showed.

In India, where infections trail only the U.S., total cases approached 5 million. Hong Kong reported no locally transmitted infections for the first time since early July. The city injected its struggling economy with fresh stimulus and lifted some social distancing measures, including temporarily reopening bars.

A vaccine may be available for “ordinary Chinese” as soon as November, the state-owned Global Times newspaper said.

Key Developments:

Global Tracker: Cases pass 29.2 million; deaths exceed

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Slovenian woman who cut off hand for insurance payout sentenced to prison

A young Slovenian woman who deliberately chopped her hand off to make a fraudulent insurance claim was sentenced to prison Friday.

Julija Adlesic, 22, was found guilty of attempted insurance fraud and sentenced to two years behind bars by the district court in Ljubljana, The Associated Press reports.

Adlesic denied that she’d intentionally cut her hand with a circular saw, telling the court that her “youth has been destroyed” by the incident and “no one wants to be crippled. … Only I know how it happened.”

Early last year, the convict, whose last name was also reported as Andlasic, and her boyfriend agreed to sever her left hand above the wrist at their residence in the capital, authorities said.

Her boyfriend and his father took Adlesic to the hospital, claiming she was sawing branches when she sustained the injury.

Instead of bringing her severed hand to the hospital, authorities say

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The 4-Step Guide to Buying Life Insurance for the First Time

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Welcome to #Adulting, the ultimate breakdown of all your grown-up needs. These articles are here to help you feel less alone and answer all your personal, financial, and career questions that weren’t answered in school (no judgment, we get it!). Whether you’re looking to find out how to tackle laundry or you want a deep breakdown on how to make a savings plan—we’ve got you covered. Come back every month to find out what life skills we’re upgrading next and how.

Life insurance feels like one of those “adult” things you don’t have to think about until you’re much older, just like retirement plans and mortgages. But with the coronavirus (COVID-19) pandemic continuing on across the U.S., you might start wondering how to sign up for life insurance now.

It sounds creepy (and kind of depressing), but basically, life insurance is “defined as a ‘tax-free lump sum

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The 4-Step Guide on Buying Life Insurance for the First Time

Getty Images

Welcome to #Adulting, the ultimate breakdown of all your grown-up needs. These articles are here to help you feel less alone and answer all your personal, financial, and career questions that weren’t answered in school (no judgment, we get it!). Whether you’re looking to find out how to tackle laundry or you want a deep breakdown on how to make a savings plan—we’ve got you covered. Come back every month to find out what life skills we’re upgrading next and how.

Life insurance feels like one of those “adult” things you don’t have to think about, just like retirement plans and mortgages, until you’re much older. But with the coronavirus (COVID-19) pandemic continuing on across the U.S., you might start wondering how to sign up for life insurance now.

It sounds creepy (and kind of depressing), but basically, life insurance is “defined as a ‘tax-free lump sum

Read More

Gojek-Backed Insurance Startup Snags Funds From LeapFrog, Xiaomi

(Bloomberg) — PasarPolis, the insurance tech startup that counts three top Indonesian unicorns Gojek, Tokopedia and Traveloka among its early backers, has raised $54 million in new funding.

Investors in the Series B funding round include LeapFrog Investments Ltd., Xiaomi Corp., SBI Investment, Alpha JWC Ventures and Intudo Ventures, according to a statement on Wednesday.

Founded in 2015, the Jakarta-based startup offers micro-insurance, allowing ride-hailing drivers, couriers and online shoppers and sellers to buy protection that cost as little as a few U.S. cents. In 2019, PasarPolis sold more than 650 million policies.

Indonesia’s Gojek Expands Business With Online Insurance Service

The company aims to leverage technology to provide an easier and speedier experience for mobile-savvy consumers to choose between products and submit claims, said Chief Executive Officer Cleosent Randing. PasarPolis will use the capital to invest in artificial intelligence technology to build personalized insurance products and expand its operations

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How to Find the Right Life Insurance Policy for You

Policygenius.com, breaks down the nuances in a main segment interview.” data-reactid=”19″Ryan Ermey: If you’re considering adding a life insurance policy, you should know that not all policies or indeed types of life insurance are created equal. Jennifer Fitzgerald, CEO and co-founder of online insurance broker Policygenius.com, breaks down the nuances in a main segment interview.

Your Money’s Worth. Stick around.” data-reactid=”24″Ryan Ermey: On today’s show, Sandy tells us about new fees … Read More

Working from home? Your home and contents insurance might be invalid

Home working
Home working

Millions of workers forced to work where they live may find their home and contents insurance no longer covers them from next week. 

Currently, the Association of British Insurers, a trade body, states: “If you are an office-based worker and are working from home as a result of the pandemic, your home insurance cover will not be affected. You do not need to contact your insurer to update your documents or extend your cover.”

However, the ABI will review this guidance on Sept 1, which may leave homeworkers unprotected as some homes and contents policies are designed only for “home or domestic use” and not for work.

Jimmy Williams, of insurer Urban Jungle, advised those working from home to make sure their home and contents policies cover them.

“Some insurers aren’t being very flexible and are insisting that domestic policies don’t cover incidents if people are working from

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Life Insurance Stocks in Focus Amid Coronavirus-Induced Changes

Covid-19 has proved to be an eye-opener for customers of the life insurance industry as they are now more appreciative of the value of life insurance. Prior to this pandemic, even the informed ones had been postponing the purchase of life insurance. And even when they bought it, the insurance cover had always been clearly inadequate. This mindset is probably changing now as customers are visibly opting for more protection products. A life insurance policy should be owned by each and every person at the beginning of their career.

Rising Interest in Insurance Cover

Per a recent survey by Lincoln National Corp. LNC, more than a third of consumers attach importance to life insurance while a similar number confirm that they either have or are planning to purchase one.

According to MIB Life Application Activity, U.S. residents aged below 45 spent a considerable sum on life insurance in July, echoing

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