American boat insurance now available for travelers to Cuba

american boat insurance

The United States has now approved a coverage for craft traveling into Cuban waters. American boat insurance is now available to boaters traveling from the United States into Cuban waters. Marine insurance company, Pantaenius, will be offering policies for this situation. This may reduce a considerable barrier to Cuban travel for the purposes of cruising and fishing. While the embargo for travel to Cuba was lifted nearly a year ago, hull insurance had yet to be allowed. When the embargo was lifted, U.S. citizens with a legal reason to travel…

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The Brexit insurance industry impact is already showing

Insurance company brexit strategy

One of the first things that happened following the announcement of the voting results was plummeting shares. Across the United Kingdom, the Brexit insurance industry impact was felt right away as the voting results were revealed. Shares throughout the sector plummeted, leaving investors and insurers reeling. Growing fears from experts appear to have taken an axe to stock prices. The main concern is the effect the Brexit will have on Lloyd’s of London, the massive insurance market. Lloyd’s currently enjoys a special appeal to other insurance companies. This is because…

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Foo Fighters file lawsuit against Lloyds of London

Foo Fighters Lloyd's of London insurance lawsuit

The band sued the insurance companies in Los Angeles with regard to cancelled shows. The Foo Fighters have now filed a lawsuit against the massive Lloyd’s of London insurance market and other insurers. The suit was filed against the 328 year old insurance companies in Los Angeles. The lawsuit also extends to Roberson Taylor, the broker behind the purchasing of the policies. The lawsuit alleges that the insurance companies and Lloyd’s of London “failed to pay amounts that even they appear to recognize are due and owing.” This was in…

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If SpaceX rockets are to be reused, they’ll need insurance first

SpaceX rockets spacecraft technology

The company is looking to use their technology more than once and is preparing to recover them for re-launch. Now that it has been shown that SpaceX rockets are able to make landings on a consistent basis, they are now looking to insurance underwriters to make it possible to be able to reuse those devices for the launch of commercial satellites. The insurance industry will need to be heavily involved in this process in order to manage the financial implications. Over the next week or two, the Hawthorn space company…

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Two-tier insurance company capital standards proposed by Fed

Insurance company capital standards business financial skyscrapers

The concept is to treat exceptionally large firms differently from others within the industry. The Federal Reserve proposed new insurance company capital standards as a part of a two tiered system that had already been expected for the industry and that is expected to provide significant protection for the American economy. Within this system, major insurers are going to have different capital requirements applied to them. Prudential Financial Inc. and American International Group Inc. will both have different insurance company capital standards applied to them due to their size and…

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Atlantic hurricane season starts today and may be an active one

insurance news - atlantic hurricane season

North America could be in for a more active storm season in 2016 than has been the case for the last few years. The North American east coast may be getting itself ready for activity this Atlantic hurricane season, which means that residents, businesses and insurance companies on that side of the continent should likely start to keep an eye on weather reports and take the right steps to prepare. Over the last few years, major hurricanes have been few in numbers, but it only takes one to bring catastrophe.…

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Open federal insurance regulations meeting to be held on June 3

meeting federal insurance regulations

The U.S. Federal Reserve hopes that Friday will use this opportunity for proposals for capital and other rules for insurers. The U.S. Federal Reserve has announced that June 3, 2016 will be the date for its open meeting in which proposals will be discussed with regards to federal insurance regulations for rules including capital and other factors affecting insurers. This Friday’s meeting will be centered around changes in regulations that have been building for over five years. The announcement from the American central bank was made following the preview of…

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Oklahoma earthquake insurance under investigation by state commissioner

Oklahoma earthquake insurance coverage

Proactive steps are currently being taken in order to discover whether or not rates are where they should be. State Commissioner John Doak has now announced that he is conducting an investigation into Oklahoma earthquake insurance as a part of a larger effort to make sure that the rates that are being paid by residents of the state are not higher than they should be. This announcement was made at a public hearing at which he heard new details with regards to insurance rate fluctuations. This new information helped the…

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Health insurance companies are withdrawing from many U.S. markets

health insurance company online exchange

A number of insurers have been stepping out of a number of areas they have deemed to be unprofitable. The Affordable Care Act may be experiencing a shift in the health insurance companies that are continuing to participate in some marketplaces next year, particularly when it comes to those selling plans in rural areas. This may leave the residents of certain areas with health plan options from a single insurance company in 2017. According to state regulators, the online insurance exchanges that are central to the ACA in Alaska and…

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California insurance premiums for health plans could spike by 8%

california insurance premiums

The rates for 2017 may be noticeably more expensive for residents of the Golden State. California insurance premiums may be heading upward next year according to an estimate that has been produced by the state’s exchange, to the point that the average person would be paying 8 percent more. Should this estimate be accurate, it will double the average increase seen over the last two years. This year and last year, there were increase to California insurance premiums, but they were a notably lower 4 percent. This latest forecasted increase…

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