Luxury home mortgage insurance is being offered by fewer players

Luxury home mortgage insurance

The CMHC has announced that it will no longer be offering coverage for these high end properties. Among the recent cuts that the Canada Mortgage and Housing Corp has been making, and that have been toping insurance news headlines in the country, is one of the latest that includes the elimination of luxury home mortgage insurance products. The properties that will no longer be covered will be those that cost $1 million or more. The CMHC has stated that as of July 31, it will no longer be providing luxury…

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Insurance industry steps into the Canada Pension Plan

cyber insurance Canada pension plan employment insurance industry

The Investment Board for that country’s largest pension fund manager has now made an important purchase. The recent news has now been announced, stating that the Canada Pension Plan Investment Board has agreed to make a $1.8 billion acquisition of Wilton Re Holdings Ltd. in order to take the largest pension fund manager in the nation into the life insurance industry. This reinsurer is being purchased by investors and represents the first foray of Canada Pension into this sector. Among the investors taking part in this acquisition in the insurance…

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Bitcoin insurance may provided much needed security to holders of digital currency

Bitcoin insurance industry news

Insurance coverage for Bitcoin is gaining more attention Despite its volatility, Bitcoin continues to grow as an attractive currency for those that are becoming more involved in the digital world. As the digital currency gains more momentum, the need to provide it with some form of security becoming greater. Bitcoin insurance is beginning to gain popularity among firms that deal in the digital currency. The benefits of insurance protection have recently been highlighted due to the shutdown of two major Bitcoin firms due to hacking and other problems. Firm launches…

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Polar vortex batters the insurance industry

winter water homeowners insurance industry

Polar vortex slams into the US, causing significant problems during the first two weeks of January The first two weeks of 2014 were marked by an unusual natural event that has been called the “polar vortex.” The event affected the majority of the U.S., causing property damage throughout the country as well as business interruption. The polar vortex broke into the U.S. on January 3, 2014, and lingered for nearly two weeks thereafter, bringing freezing temperatures and heavy snowfall to many states throughout the country. All states, including those notorious…

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Deposit insurance fund may soon be coming to China

China insurance market news

The central bank in the country could be assembling this fund as soon as 2014. As a step toward the establishment of an independent deposit insurance company, the central bank in China will likely be assembling a fund of that nature within the next year so that it will be prepared to provide the necessary coverage when its new product arm is ready to launch Although this action has yet to be officially confirmed, the news has been leaked by several unnamed sources. These sources, close to the central bank,…

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Insurance news in China reveals intentions to invest in foreign real estate

China Insurance industry news

Experts have predicted that these Chinese investors will be making their main focus in large cities. The latest insurance news from China is that their insurance funds are now looking to make investments into properties into the biggest Asian cities outside of its own borders. The prediction is that there will be approximately $14 billion (USD) focused on real estate. This insurance news has indicated that the primary real estate markets could be the largest cities in Hong Kong, Malaysia, Thailand and Singapore. The insurance funds will be focusing on…

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Insurance industry could soften the U.S. pension crisis

US life insurance policy payout ruling

Senator Hatch from Utah believes that insurers could hold the key to easing the struggle that will be faced. On Tuesday, one of the top Republican senators proposed legislation that would considerably alter the way that public pensions function by having the life insurance industry pay benefits by way of annuity contracts. The purpose of this newly unveiled legislation would be to assist in alleviating the underfunding from which many plans suffer. Senator Orrin Hatch of Utah is the highest ranking Republican on the Finance Committee. He introduced a bill…

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