Live Insurance News

Bank deposit insurance has nearly arrived in China

December 2, 2014December 2, 2014 H. Cutner

The country is close to launching the coverage that could open up free competition by banks for customers. China is drawing ever closer to the launch of a bank deposit insurance system that has long been anticipated but that has yet to have been accomplished, and that could completely overhaul that country’s financial sector. This change could hike the risk level in the banking sector and could make it possible for immense future opportunities. By introducing a system of bank deposit insurance, it could mean that there may one day…

EU insurance regulations may be put on hold

October 18, 2012 S.Vagus

Insurance regulations may be delayed for up to two years European insurance companies could get a break from the looming insurance regulations that are coming from the European Union. These regulations, which will cause serious changes in the European insurance industry and could push some smaller companies out of business, are currently scheduled to take effect in January, 2014. The insurance regulations put strict capital requirements on insurance companies and have been the source of controversy for some time. Now, a top European insurance regulator is working to have the…

European Commission plan rejected by Germany

September 21, 2012September 21, 2012 Nordstrom

European Commission finds opposition to banking plan German lawmakers have rejected a proposal coming from the European Commission concerning the ongoing financial crisis enveloping Europe. The European Commission has been working to solve the issues caused by the financial crisis, but has made little headway. With the help of the insurance industry, however, some problems have been resolved. Some of the world’s largest insurance companies have agreed to provide coverage and issue bonds that will help countries recover from the financial crisis. Not all of the European Commission’s proposals have…

Libor scandal could have long-standing consequences

August 4, 2012August 3, 2012 S.Vagus

Insurers face heavily financial losses as the result of the Libor scandal Many of the world’s largest insurance and financial institutions may be liable for hundreds of millions of dollars over the next several years due to the ongoing Libor scandal. Libor refers to the London Interbank Offered Rate, which is an average interest rate estimated by the leading banks of the United Kingdom. Libor has been a somewhat controversial issue for several years, but has become even more so in light of the current scandal. The scandal was ignited…

Majority of the public believes the 2009 auto industry bailout helped the economy, despite opposition

April 11, 2012April 11, 2012 Marc

New poll shows public opinion on bailout tactics for industry. A new poll performed by Harris Interactive, has determined that the vast majority of the American public would not support any additional insurance, construction, banking, or auto industry bailouts, and that while only a small percentage of people think that the insurance and banking bailouts of 2008 helped the economy, the vast majority feel that the auto industry bailout of 2009 (especially of Chrysler and GM) did provide an economic boost. The poll also indicated that a large number of…