Live Insurance News

Insurance company sale by Allstate has reached closure

April 10, 2014April 9, 2014 H. Cutner

The sale of Lincoln Benefit Life to Resolution Life Holdings Inc. has now been closed. The Allstate Corporation has announced that it has completed the sale of its former insurance company, Lincoln Benefit Life, to Resolution Life Holdings, Inc. as a part of a strategic move forward by Allstate. This move was a part of a larger plan to focus on specific segments of the market. According to the president, chairman, and CEO of Allstate, Thomas J. Wilson, “This divestiture is another strategic step for Allstate to serve distinct consumer…

Zombie insurance regulators attack the “walking dead”

April 2, 2014April 12, 2014 Julie Campbell

Just as the popular AMC television series closes its fourth season, its coverage equivalent is now under attack. Zombie insurance has been making headlines, not because it has any relation to the popular post-apocalyptic horror drama from AMC, or the “walking dead” that has given the show its name. Instead, it is central to insurance news as consumers and regulators combat pricing discrepancies. The Financial Conduct Authority (FCA) in the United Kingdom has indicated that while new customers are being offered better deals, loyal policyholders who have been paying premiums…

Life insurance companies discriminate against marijuana users

April 1, 2014March 29, 2014 Julie Campbell

A newly published report suggests that insurers require these consumers to pay more for policies. A website that provides consumers with life insurance quotes has now released a new report that suggests that people who use marijuana will usually have to pay more for their policies than people who do not. The report is drawing industry attention from both insurers, agents, and consumers alike. This recent news was published under the title “Marijuana Users Discriminated Against by Life Insurance Companies.” It was released on the LifeAnt website and explained that…

Insurance industry steps into the Canada Pension Plan

March 25, 2014March 22, 2014 H. Cutner

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…

Life insurance mystery develops with record breaking policy

March 17, 2014March 15, 2014 Julie Campbell

An unknown billionaire has now purchased the most expensive coverage on record. A billionaire from Silicon Valley whose name has not been released has now set a new level in the Guinness Book of World Records, for the most valuable life insurance policy that has ever been purchased. The coverage is for $201 million and it is being provided by 19 different insurers for massive premiums. This life insurance policy will require the mystery billionaire to have to pay millions of dollars in premiums every year. The policy itself was…