Pandemic insurance losses were bigger than what Lloyd’s of London expected

Pandemic insurance losses - mask - money

The cost on a global scale for 2020 will be greater than what the insurance marketplace estimated. Bruce Carnegie-Brown, chairperson at Lloyd’s of London, announced that the global pandemic insurance losses this year will be higher than what they had previously estimated. Sixteen different business insurance lines are facing claims at the 334-year-old Lloyd’s of London. Chairperson Carnegie-Brown recently spoke at the Reuters Events Future of Insurance USA conference. There, he stated that the pandemic insurance losses would be comparable with the price tag associated with the catastrophes that struck…

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Pandemic forces Lloyd’s of London insurance contracts into review

Insurance contracts - Lloyd's of London building reflected in glass

The massive marketplace is re-examining the way coverage products are designed due to COVID-19. Lloyd’s of London has launched a new review of its insurance contracts, taking a new look at the way products are created and sold. The purpose is to develop simpler products in response to the COVID-19 pandemic. Insurers have suffered considerable reputational damage due to the complexity of their products. This complexity in insurance contracts has made it difficult for businesses to understand. The result has been a wave of court cases meant to decide whether…

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5 Ways Coronavirus Will Drastically Alter Boomer Retirements

baby boomer retirements

The boomer generation is defined as people born between 1946 and 1964, effectively products of the post-World War II economic boom. These are people that will be hoping to either be retired or to retire within the next ten years. They lived through economic ups and downs and are generally seen as one of the wealthiest generations to date.  Thanks to advances in medical care some of these boomers are still earning today, despite being past retirement age. However, all of them will need to speak to a reputable financial…

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Millions of Americans are losing employer sponsored health insurance plans

Employer sponsored health insurance - stethoscope - heartbeat monitor - glasses - pills

As workers across the country have been laid off, they’ve also been losing their medical coverage. Employees across the country who had been enjoying employer sponsored health insurance are suddenly finding themselves without a plan as the coronavirus causes millions of layoffs. In many states, the rates of uninsured residents are jumping from single to double digits. As though losing a job wasn’t enough as pandemic prevention efforts continue to hold in place, many Americans who had been covered through employer sponsored health insurance are losing their coverage, too. This…

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California Medical Association joins with Mercury insurance for health care worker wellness

The California Medical Association’s Wellness Program (also known as CMA Wellness) is partnering up with Mercury Insurance on the new Care 4 Caregivers Now initiative.

Care 4 Caregivers Now to offer frontline health care staff additional wellness services. The California Medical Association’s Wellness Program (also known as CMA Wellness) is partnering up with Mercury Insurance on the new Care 4 Caregivers Now initiative. This program was developed to provide frontline health care workers with additional support and coaching for emotional and mental wellness. It was created to provide much needed support to health care workers on the front line of the pandemic. The initiative will begin by training and connecting volunteer nurses, physicians and health…

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Amazon has been hinting at a new seller health care offering

Seller Health Care - Amazon logo on phone

The online marketplace hasn’t confirmed anything official but has teased at the concept. In a new survey, Amazon hinted at the prospect of offering seller health care by asking those selling on its platform regarding their satisfaction with their current coverage plans. In the heart of the COVID-19 pandemic, the marketplace seems to be thinking of supporting its sellers. Seller health care could help those offering products on Amazon’s platform with coverage. This would involve stepping into an entirely new space and industry. Amazon’s third-party sellers represent almost sixty percent…

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