Harvard twin study reveals impact of environment and genetics on insurance rates

Insurance Rates - Harvard University

Researchers examined the impact of the environment and genes across 560 common conditions. The results of a new Harvard Medical School (HMS) twin study examined the way different factors affect insurance rates. The research was conducted in conjunction with the University of Queensland in Australia. The method used in order to examine the factors involved in calculating insurance premiums was novel. The researchers used twin data sets provided by Aetna insurance company. That insurer did not provide funding for this study. Instead, the insurance rates research was supported by grants…

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Pet health tops human wellness, say half of dog owners

pet health - dog with girl

Owners care more about the wellbeing of their companion animals than they do about their own. Pet health has become an astoundingly important issue in the lives of dog owners. In fact, a recent study showed that many dog owners care more about their animal’s wellness than their own. Half of dog owners specifically placed their canine’s health at a higher priority than their own health. The study findings showed that over half of dog owners placed pet health above their own personal health. Moreover, 62 percent of these pet…

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United States to sign post-Brexit insurance deal with Great Britain

Post-Brexit Insurance - US Flag and UK Flag

The new bilateral insurance agreement is meant to provide greater regulatory certainty to the market. The U.S. Treasury and U.S. Trade Representative’s (U.S.T.R.) office have announced their intention to sign a post-Brexit insurance agreement with Great Britain. The goal is to establish insurance market continuity and regulatory certainty as Great Britain steps out of the European Union in March 2019. The new insurance industry agreement would greatly mirror the agreement between the U.S. and E.U. The United States signed an insurance deal with the E.U. back in 2017. In order…

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European insurance companies seek to reduce risks from CO2 and coal

European Insurance companies - Focus on Europe

The sector is creating its own plan in the name of climate change and cutting back on its risks. European insurance companies are boosting their investments in green energy at the same time that they’re letting go of certain carbon intensive businesses. This move is being made for the purpose of doing their part to cut back on risks associated with climate change. This move was announced at the same time that 200 countries meet in Poland to discuss climate initiatives. As a growing number of countries around the world…

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Manulife insurance company changes run deep as the firm attempts simplification

Insurance company changes - Manulife Evenelope

The insurer’s customers find dealing with the company to be complicated, so it is seeking improved tech. Insurance company changes are coming to industry giant, Manulife. They may have started with a change of signage but will go far deeper into the organization than that. The purpose of the changes is to use technology to greatly simplify the issue of complexity for customers. While there will be insurance company changes, Manulife has stated that the alterations will be applied throughout the corporation. Manulife Financial Corp. recently revealed the results of…

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Environmental liability insurance market takes off as regulators crack down on pollution

Environmental liability insurance - Air Pollution - smoke

As standard property or general liability policies don’t cover enough, pollution coverage is increasingly common. Environmental liability insurance is rapidly growing in popularity as exposures have grown beyond the coverage from general liability and standard property policies. Claims relating to pollution and the environment are frequently complex as well as expensive. The complexity and cost relating to issues relating to pollution have sent underwriters to step away from risks relating to pollution. This has left a gap open for environmental liability insurance products to fill. The market in many countries…

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Insurance industry encouraged to focus on terrorism risk

Terrorism Risk Insurance industry

Insurers are encouraged to address this issue as it is producing growing economic losses. Rising economic losses resulting from terrorism risk require the insurance industry’s attention. This, according to the Guy Carpenter & Co LLC reinsurance broker, which recently released a report on the topic. The cost of terrorism is estimated to be in the hundreds of billions of dollars worldwide. For example, from 2004 through 2016, the terrorism risk cost the European Union over $200 billion. Even the United Kingdom alone lost nearly $50 billion to the expenses associated…

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