Nestle thinking of selling off its Gerber Life Insurance

gerber life insurance nestle phone elderly senior baby

The company’s board of directors is looking into options for that business, including its sale. Nestle’s board of directors is looking into various different options concerning its Gerber Life Insurance business. The company has not ruled out selling off the business as it works to try to adjust its product portfolio. The purpose of Nestle’s efforts is to enhance the effects of a broader organic sales growth strategy. The portfolio management which includes the decision of whether or not to sell the Gerber Life Insurance business is meant to help…

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The Wells Fargo scandal continues to bite with 38,000 erroneous letters mailed

wells fargo scandal letter

The auto insurance scam involved selling unnecessary coverage and now includes sending letters containing mistakes. The Wells Fargo scandal that rocked the financial services company in the second half of last year just became more unpleasant. As the bank attempts to recover from the latest damage to its reputation in which auto loan customers were sold insurance policies they didn’t need, they’ve now made another mistake they didn’t need. The bank accidentally sent out letters about the auto insurance scam containing erroneous information. The Wells Fargo scandal involved requiring car…

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Car insurance rates and clothing prices affect inflation

clothes car insurance rates

These consumer prices are having a direct impact on the rate of inflation, say economists and analysts. According to recently released American economic data, car insurance rates and clothing prices are impacting the rate of inflation. Not including energy and food, U.S. consumer prices increased by 0.3 percent in January. Food and energy were left out due to their volatility. That most recent price jump represented the fastest monthly increased experienced in a year. The consumer price spike will likely only worsen concerns regarding the financial markets. According to the…

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Bitcoin theft insurance becomes growing product worldwide

bitcoin theft insurance cryptocurrency

Major insurers worldwide are offering policies to help investors protect against cryptocurrency heists. Bitcoin theft insurance is becoming a growing business as global insurers offer cryptocurrency investors and business coverage against theft. Providers are taking on a number of different challenges as traders pour billions into buying and selling these barely regulated and highly volatile digital currencies. At the moment, only a handful of insurers are selling the policies, but many more are coming soon. Among the Bitcoin theft insurance companies currently selling include Chubb, XL Catlin, and Mitsui Sumitomo…

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USAA insurance company offered military members financial help during shutdown

servicemembers military USAA Insurance company

The insurer was providing interest-free loans to military members whose paychecks were impacted by the government shutdown. Military members whose paycheck depends on the government staying open had a bit of help from the USAA insurance company. The insurer offered military members interest-free loans to help them to fill the gap until they start getting paid again. USAA members in the armed services were essentially offered interest-free payday loans. The money wasn’t being handed out for free, but the USAA insurance company did provide armed services who wouldn’t be paid…

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Auto insurance refund on the way to many customers who bought via car dealer

auto insurance refund Senior Man Driving A Toy Racing Car

Suncorp and Allianz will be repaying $63 million to customers who purchased through dealerships. Allianz and Suncorp are required to pay an auto insurance refund total of $63 million to customers who purchased coverage through their car dealers. The repayment is a part of a crackdown from a corporate watchdog worth $120 million regarding financing and insurance add-ons at dealerships. An investigation was conducted regarding many questionable practices such as car dealer sales tactics. Australian Securities and Investments Commission (ASIC) senior exec, Michael Saadat, is responsible for overseeing insurance companies,…

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Iowa insurance commissioner cautions against cryptocurrency investments

bitcoin theft insurance cryptocurrency

Bitcoin and other cryptos have seen hot headlines but many think they’re in a bubble that will burst. Iowa Insurance Commissioner Doug Ommen issued a consumer bulletin warning state residents against investing into cryptocurrencies such as Bitcoin unless they understand the risks. The insurance commissioner pointed out that there is a meaningful difference between IPOs and ICOs. According to the Iowa insurance commissioner, people need to know the risks associated with investments into cryptocurrencies before putting money into them. This is a very new market and concept. They are not…

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U.N. Security Council’s decision against North Korea includes insurance sanctions

North Korea Insurance sanctions

The vote was unanimous throughout the council in response to Pyongyang’s choice to launch more ballistic missiles. The U.N. Security Council gave its unanimous approval to strengthening measures against North Korea, including insurance sanctions. This decision was in response to the country’s most recent ballistic missile launch. Pyongyang claims those it is now capable of sending those missiles to any part of the U.S. mainland. The U.N.’s Security Council resolution also includes strikingly lower caps on refined oil to North Korea. Aside from considerably tightened refined oil restrictions, North Korea…

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Wells Fargo could face additional sanctions due to auto insurance practices

auto insurance practices fine penalty

The bank may be facing even more penalties from a federal regulator due to mortgage and insurance scandals. Wells Fargo & Co. may already have faced penalties for its mortgage and auto insurance practices but they don’t seem to be over yet. A federal regulator may be applying more sanctions to the bank as a result of practices that have come to light over the last few months. Among the car insurance practices was one that forced car loan customers to pay for unnecessary coverage. Last week, the Wall Street…

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SmarterSafer coalition calls for U.S. flood insurance reform, facing December deadline

National Flood Insurance Reform

Recent efforts to overhaul NFIP has reached a struggling point, but one business group wants to push ahead. The latest shot at American flood insurance reform has come across a serious obstacle in its attempts to move ahead. However, a business and environmental groups coalition has strengthened its call for an overhaul to the National Flood Insurance Program (NFIP). They’re pushing for lawmakers to make much needed changes to the program before its December expiry. The flood insurance reforms need to be made before December 8, 2017 if they are…

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