Philip Morris launches Reviti life insurance company with discounts for smokers who quit

Reviti Life Insurance - Smoking - cigaretes, Ash tray

The tobacco giant has started its own insurer with special discounts for smokers working on cessation. Philip Morris International, the tobacco giant behind Marlboro cigarettes, has just opened its own insurer called Reviti life insurance. Reviti is a wholly owned subsidiary of Philip Morris that will begin selling life insurance in the UK. Though Reviti life insurance will start in the United Kingdom, the intention is to expand its sales into markets overseas as well. That said, what is interesting about this life insurance company owned by the tobacco giant…

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Insurance adjuster credits solid evacuation plan for saving the treasures in Notre Dame

Insurance adjustor - Notre Dame Cathedral, France

Experts estimate that 90 percent of the priceless artworks and relics from the cathedral were saved. A leading insurance adjuster Michel Honore has issued high praise to the Notre Dame cathedral evacuation plan and those who carried it out. He stated that it was because of this process and the cool-headedness of those who executed the contingency plan that about 90 percent of the cathedral’s relics, artwork and other treasures were saved. Despite the widespread damage from the heartbreaking fire in the 12th century cathedral, much was saved. Honore is…

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British pet insurance payouts reach record £785 million level

Pet insurance payouts - GBP

Policyholders have shattered previous records in the amount they received from their claims in 2018. Pet insurance payouts in the United Kingdom struck record levels in 2018 when they broke the £785 million mark. The figure rose to this level despite the fact that the number of claims filed by policyholders actually fell, said the Association of British Insurers (A.B.I.). The industry trade body pointed to a rising cost of complex veterinary care to explain the payment size. The A.B.I. underscored the increasing cost associated with sophisticated medical care to…

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Notre Dame fire insurance is non-existent, but donations for repairs are high

Notre Dame Fire - Notre Dame Cathedral

The French State owned cathedral was self-insured as there isn’t coverage available for priceless artwork and structures. The devastating and heartbreaking Notre Dame fire was watched from around the world. Thoughts and prayers poured in to Paris expressing sympathy for the loss of so much of the historical and religious structure. At the same time, many were asking who would have to foot the bill to have it rebuilt. The cathedral was 856 years old at the time of the Notre Dame fire. It was irreplaceable unto itself but also…

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Japan’s insurance industry takes steps to stop genetic discrimination

Genetic discrimination - DNA

The Japanese industry is preparing guidelines to make sure insurers can’t collect customer DNA. The insurance industry in Japan is getting ready to create guidelines that would stop genetic discrimination by insurers in the country. They are seeking to ban health and life insurance companies from the collection or use of genetic information for purposes related to coverage eligibility or premiums calculations. Associations across the industry say they haven’t started using genetic info but the goal is to stop it. According to the Life Insurance Association of Japan, its members…

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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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Woman saws off her hand in what may be shocking insurance policy fraud

Insurance policy fraud - Saw

The woman was found to have purchased five different policies ahead of the incident. A woman who cut off her hand with a circular saw in January is now being accused of insurance policy fraud. Though it initially appeared to be a terrible accident, the Slovenian woman may actually have attempted to defraud several insurers.defau Police and prosecutors are attempting to determine if the event was a bad accident or flawed crime. The 21-year old woman was accused of insurance policy fraud in Slovenia when it was found that she…

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