FSL Makes List of Top Performers for 7th Time

Fidelity Security Life Insurance Company Top 50 life-health insurance companies

Fidelity Security Life Insurance Company (FSL) has been named to the 2019 list of Top 50 life-health insurance companies selected for “outstanding financial results in areas of safety, consistency and performance over a five-year period.” The list, known as the Ward’s 50, was released by Aon plc, a leading global professional services firm that operates the Ward’s 50 benchmark group. The group analyzes more than 700 U.S.-based life-health insurers. To make the list, each company must pass minimum thresholds for safety and consistency as well as excel in financial performance…

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Distributed ledger technology apps and blockchain could offer insurance industry savings

Distributed ledger technology - Blockchain technology

A recent study showed that this approach could save the industry millions of dollars per year. New research examined the way a consortium-based blockchain approach using distributed ledger technology (D.L.T.) applications could save the insurance industry millions every year. The analysis was conducted by the Institutes RiskStream Collaborative. The Institutes RiskStream Collaborative analysis examined the way taking a consortium-based approach to blockchain and distributed ledger technology could help two events in common within the property and casualty insurance sector. Those events are: first notice of loss following an incident and…

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What does catering business insurance cover for small business owners?

Catering Business Insurance - person serving food

This type of commercial policy is designed to cover the liabilities specific to this type of company. Catering business insurance is a type of commercial coverage designed to provide small business owners with protection against the liabilities specific to this type of service. These entrepreneurs don’t always recognize all the risks associated with food service to large groups. The standard catering business insurance policy provides coverage against the risks to which these businesses are most commonly exposed. These include risks such as: • Third party injuries, • Damaged equipment, •…

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Many insured Americans rely on charity due to health insurance deductibles and copays

Health insurance deductibles - hands holding US dollars

Despite having a health plan, many people across the country can’t afford the medical care they need. Skyrocketing health insurance deductibles and copays are forcing many covered Americans to rely on charity to pay for medical care. Crowdfunding and medical charities have become the norm to fill in gaps for insured Americans. A recent LA Times report placed the spotlight on a growing trend among insured Americans. It showed that the cost associated with health insurance deductibles and copays can make medical care cost prohibitive even for Americans with medical…

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NRA under investigation in New York for illegal gun insurance kickbacks

Illegal gun insurance - gun

The state regulator is looking into the National Rifle Association’s role in selling banned coverage products. The New York Department of Financial Services is currently investigating the NRA for allegedly taking illegal gun insurance kickbacks in the state. The investigation is examining the National Rifle Association’s role in the sale of banned coverage products to firearm owners. The NRA allegedly took in at least $14 million in illegal kickbacks in the state. The state regulator’s investigation is one component of a broader effort that launched in 2018. It is the…

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What you need to know about Berkshire insurance investing struggles

Berkshire Insurance - Analysis - Woman with glasses

Warren Buffett is known for outstanding outcomes in this industry but current figures are sour. In the investing world, Berkshire insurance decisions have often been seen as the gold standard in terms of solid and reliable choices. However, the company’s operating earnings fell in Q2 2019, shocking many investors. Insurers owned by Berkshire saw a substantial plummet in underwriting income in that quarter. Berkshire insurance underwriting income fell by almost 63 percent during the second quarter. This brought it to $353 million. The firm’s reinsurance unit also drooped to a…

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Traditional long term care insurance policy sales maintain downward slope

Traditional long term care insurance - Hand over senior citizens

Data shows that Americans are buying fewer LTC policies year over year. Americans are no longer purchasing traditional long term care insurance at the same rate they used to. In 2018, they bought only about 60,000 stand-alone policies in that category. That represents a drop of 13 percent year over year. Falling sales mean fewer insurance companies are participating in this coverage sector. Only about 15 carriers actively sold traditional long term care insurance policies last year. Moreover, among them, five took in over three quarters of the entire market,…

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