Tencent takes more of Indian insurance market with 10% Policybazaar stake purchase

Indian Insurance Market - Tencent HQ

The Chinese tech giant has acquired a minority state in the home, auto and life comparison company. Tencent Holding Ltd. has just taken more of its first steps into the Indian insurance market with an acquisition of a 10 percent stake of Indian online insurance aggregator Policybazaar. This values the Indian company at $1.5 billion. The Chinese technology giant has been working to grab a piece of India’s growing insurance sector. The 10 percent Policybazaar stake was obtained through a purchase of half of Tiger Global Management LLC’s stake in…

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Ping An Insurance moves to recreate itself as a technology firm

Ping An Insurance - Skyscraper sunshine

The company is aiming to spend $22 billion to dump its old-school image and reputation. Ping An Insurance is changing lanes in the hopes of transforming itself into a technology company. The firm has come up with a plan to spend billions in order to recreate itself in this new way. That said, the Ping An Insurance executives have not yet managed to sway investors to see their way in spending $22 billion for this purpose. The money would be spent on everything from artificial intelligence (A.I.) to blockchain. The…

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Cyber crime rates soar as 43 percent of Americans have already been victims

Cyber Crime Rates - Cyber Security

Nearly half of all people in the United States have been affected by cybercriminal activities so far. A new report based on a survey by ValuePenguin revealed that almost half – 43 percent – of Americans have been a victim of some kind of digital invasion, as cyber crime rates skyrocket. Though financial loss is a risk, consumers are also afraid of the misuse of their personal information. Almost half of all victims of cyber crimes are impacted by financial losses in some way. That said, the cyber crime rates…

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Baltimore will purchase $20 million in cyber liability insurance coverage

Cyber Liability Insurance Coverage - Baltimore

The city is taking preventative action after having already suffered a massive ransomware attack. Baltimore has just committed to purchasing $20 million in cyber liability insurance coverage. That city experienced a massive ransomware attack last spring. The city is still paying off the bills for the contractors who participated in the city’s digital recovery. The costs from the ransomware attack on Baltimore are increasingly coming due. As those expenses loom, city officials are preparing to purchase $20 million in cyber liability insurance coverage to pay for any potential disruptions that…

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Birthday and party clown insurance puts a smile on everyone’s face

Clown insurance - person dressed up as a clown

These entertainers need a specific type of coverage to protect them against their unique risks. Entertainers who work at birthdays and other types of parties can benefit from purchasing clown insurance coverage. Though most events will go relatively smoothly, it takes only one mishap involving an injury or damaged property during a performance to bring on a lawsuit with substantial financial consequences. Entertainment may sound fun but it is also a business in which liability protection is necessary. While some entertainers purchase general liability insurance, others look for specific clown…

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Blue Cross NC CEO must resign, says state insurance commissioner

Blue Cross NC CEO to resign - person in handcuffs

The regulator blames the chief exec for waiting three months to notify him of June 22 arrest. North Carolina Insurance Commissioner Mike Causey has called for the Blue Cross NC CEO to resign. Causey cited the failure of the Blue Cross and Blue Shield of North Carolina’s chief executive officer to inform Causey that the CEO had been arrested on June 22. The CEO was allegedly arrested on June 22 for a traffic accident related to alcohol use. Causey also said the Blue Cross NC board was at fault for…

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US voters want to keep private health insurance and expand Medicare

Private health insurance - Voters

Most Democratic voters are drawn to Medicare for All but may challenge the party in 2020. Private health insurance and other components of healthcare reform have been a central issue among Democratic presidential candidates. Those politicians have been pitching their own versions of Medicare and medical coverage which may make things somewhat more complex for the candidates in 2020 according to a new Wall Street Journal and NBC news poll. Two out of every three voters support opening Medicare coverage up to anyone who wants to buy in. This is…

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