Tencent’s WeSure insurance platform faces misleading marketing fine

WeSure Insurance - Tencent Tower

The Chinese parent company behind WeChat and QQ is facing disciplinary action from Beijing. Chinese tech giant Tencent owns an insurer called WeSure insurance, which lets consumers purchase various forms of coverage online. They can make these purchases via QQ or WeChat, the company’s social media networks. That insurer has been slapped with a fine for running a marketing campaign that was misleading. The fine is a reflection of Beijing’s determination to firmly regulate the largest internet market in the world. That said, the fine against WeSure insurance was only…

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More time available to COBRA insurance applicants

COBRA Insurance - Woman Looking at Phone sitting on bench wearing mask

New rules give furloughed and laid-off workers considerably more time to decide on coverage. Americans who have been laid off or furloughed from their jobs now have more time to decide if they want to sign up for COBRA insurance. A recent federal rule is giving people more time to choose whether they want to keep their health insurance. COBRA insurance law usually grants people 60 days after having been furloughed or laid off to decide if they want to keep their employer-sponsored health plan. However, a new federal rule…

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COVID-19 pandemic crisis may be the most expensive event for insurance

Most Expensive Event - Costs - US dollars

Though uncertainty remains regarding the final cost, the coronavirus will be among the costliest. The final total is far from known for the insurance and reinsurance industry in terms of the cost of the pandemic crisis, but it is expected to be one of the most expensive event price tags in history. A new report published by reinsurance broker Guy Carpenter points to record costs. The pandemic is particularly dangerous because of two primary factors. The first is that it comes with ongoing potential for causing unexpected and unpredictable loss…

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