Bill Cosby’s insurance company is “despicable”, says the fallen celebrity

Bill Cosby’s insurance company - Bill Cosby's Star on the Hollywood Walk of Fame

AIG has allegedly settled a second lawsuit without the imprisoned comedian’s knowledge. Bill Cosby’s insurance company has, for the second time in a month, allegedly settled a lawsuit without the celebrity’s knowledge. Cosby is raging against the insurer, A.I.G., for continuing this practice without his being aware or consenting. The comedian once known as “America’s Dad” released a statement against AIG’s actions on his behalf. “A.I.G.’s conduct is despicable and I can only imagine how terribly they’re treating their policyholders, who don’t have my means and my resources,” said Cosby…

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Long term care insurance rate reform takes a top spot for NAIC

long term care insurance rates - costs

State insurance commissioners across the country are taking on the rapidly growing pricing problem. State insurance commissioners throughout the U.S. have taken on the growing issue of long term care insurance rate growth. The industry has seen skyrocketing prices as a result of a slew of challenges in this area of coverage. The problems in the LTC insurance industry have been growing over several decades. Long term care insurance rate reform has been necessary for a long time. Over the last decades, insurance companies have been finding that their models…

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General insurance companies receive warning from UK financial watchdog

General insurance companies receive warning - red light

The Financial Conduct Authority has accused insurers of failing to focus on value for customers. Britain’s financial watchdog has accused general insurance companies of failing to consider customers’ value for money within their products and services. Insurance CEOs have been warned that the watchdog is prepared to take action against their firms as well as against the senior management of those insurers. According to the F.C.A., insurance companies are failing to provide policyholders with value. The Financial Conduct Authority (F.C.A.) issued a letter to the CEOs of several general insurance…

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Bill Cosby defamation lawsuit settled by insurance company, actor livid

Bill Cosby defamation lawsuit - Bill Cosby

The suit was settled on Friday in a federal court without the actor’s knowledge, allege lawyers. A Bill Cosby defamation lawsuit filed by seven women against the actor was settled in federal court on Friday. According to the actor’s lawyers, this case was settled without Cosby’s knowledge. The lawyers accused A.I.G. of having resolved the case on the entertainer’s behalf without his knowing of the decisions made. The settlement was made on Friday in U.S. District Court in Massachusetts by the women’s attorney. The court documents for the Bill Cosby…

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Long term care insurance takes another hit from exiting insurers

Long Term Care Insurance Industry - Insurance companies exiting - Goodbye

Another major player in this sector of the insurance industry has announced its market withdrawal. Amid a slew of existing struggles in the long term care insurance industry, Genworth has now announced that it has stopped selling individual stand-alone policies. Genworth had once been the largest seller of L.T.C. coverage in the United States. Genworth’s cessation of long term care insurance sales is immediate as a part of a broader move. This is becoming an increasing trend in the long term care insurance industry. Genworth is no longer selling individual…

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Impact of climate change to make insurance prohibitively expensive, says Munich Re

Impact of Climate Change - Damage House

The largest reinsurance company in the world has cautioned that most people won’t afford coverage soon. For several years, insurance companies have been warning that the impact of climate change will be an expensive one. Munich Re, the largest reinsurance company in the world, is now warning that global warming will make insurance too expensive for most people. The reinsurer has already blamed climate change for $24 billion in California wildfire losses. Munich Re chief climatologist, Ernst Rauch, explained in a recent Guardian report that it won’t be long before…

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NAFE Includes Allstate among Top Companies for Executive Women

Executive Women - Women in Senior Role

The insurance giant has been honored for its strong focus on encouraging women in senior roles. Allstate has received a considerable honor from being included on the list of the 2019 NAFE Top Companies for Executive Women. This title was given by the National Association for Female Executives (NAFE). The companies on this list prove a strong focus on best practices for women in upper level positions. Companies designated as Top Companies for Executive Women by NAFE are those demonstrating effectiveness in practices supporting women as they rise to senior…

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