Wawanesa reports a spike in fake insurance job postings

Insurance job postings - Fake

As insurers work hard to hire new talent, they are struggling with fraudsters in their way. Wawanesa has issued a news release cautioning people looking for insurance job postings that while insurers are typically hiring right now, there are many fraudsters out there looking to scam job hunters. Insurers have been a particular subject for scams having to do with employment opportunities. The scam insurance job postings mentioned in the Wawanesa report are described as attempting to trick job seekers into applying for what they think is a position with…

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California Supreme Court rules life insurance stoppage requires proper notice

Life Insurance Stoppage ruling California

This decision would restore policy premium payments to thousands of people across the state. The California Supreme Court has ruled that a life insurance grace period and other protections must be provided to consumers in the state before insurers are allowed to cut off coverage due to a missed payment. The ruling could restore life insurance payments to affected customers dating back to 2013. In 2013, the state governor at the time, Jerry Brown, signed a law that had passed without any opposition, ending the previous authority that life insurance…

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Should unvaccinated health insurance rates be higher?

Health Insurance Rates - Money

An Ipsos poll shows over 40 percent of employees feel that this would be a fair move. According to the results of a recent survey conducted by Ipsos for Eagle Hill Consulting, more than 40 percent of American employees support higher health insurance rates for people who choose not to be vaccinated. This suggests that vaccinated American workers are seeking more punitive strategies for unvaccinated counterparts. Note: This article is a report on the findings of the survey and does not necessarily reflect the views of Live Insurance News, its…

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Technology isn’t enough to help P&C insurance keep up with industry complexities

P&C Insurance - struggling

A new report showed that companies are struggling to progress even with tech on their side. Even with all the innovations in P&C insurance technology, the complex nature of the industry is continuing to stand in its way. This branch of the industry is on the edge of major change but is being held back by complexities. As we reach a time in which more revolutionary approaches and innovative technologies are more available than ever, the complex P&C insurance industry is scrambling and stumbling in its efforts to keep up,…

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Prudential says life insurance is changing due to millennials

Life insurance policy

The global pandemic has influenced that influential generation, creating a notable shift in the market. The events across the last year and a half have caused a considerable change in the life insurance market, and according to Prudential Individual Life Insurance President Salene Hitchcock-Gear, millennials are behind this shift. The pandemic has placed our mortality and its consequences front and center stage. Millennials, who fall between the ages of 22 and 40 years old according to the measure used by Hitchcock-Gear, have been made well aware of the risks associated…

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Cyber attack insurance claims increasingly involve CEOs as victims

Cyber attack insurance - Phishing Scam

BOXX Insurance has found that C-level executives are easy “spear-phishing” targets. Cyber attack insurance company, BOXX Insurance, based in Toronto, Canada, has found that CEOs and other C-level executives are increasingly victims of spear-phishing scams. Credentials for execs at this level are sold as cheaply on the dark web as $250 per user. The cyber attack insurance provider has cautioned that executives are increasingly filing claims after having been targeted by fraudulent emails which appear to have come from a source they trust. The emails request confidential email, which is…

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Insurance industry recovery will be faster and more powerful than 2008, says Swiss Re

Insurance industry recovery - economist research - predictions

Insurers worldwide will see improvements in a far stronger way than after the last financial crisis. According to new projections from insurer Swiss Re AG’s chief Americas economist, the worldwide insurance industry recovery will happen faster and stronger than was the case following the 2008 financial crisis. This, despite the barriers currently faced such as inflation risk and low interest rates. Unlike following the financial crisis, this insurance industry recovery doesn’t include harm to the overall capitalization of insurers, or to their financial strength overall. This will make it possible…

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