Tag: europe

Friendsurance raises funding to support its innovative take on health insurance

S.Vagus
us health insurance reform

Friendsurance raises $15.3 million in latest round of funding led by Horizon Ventures A unique type of health insurance company has emerged to raise a significant amount of funding to aid its expansion. Friendsurance, a peer-to-peer insurance company, has announced that it has raised $15.3 million in funding, led by Horizon Ventures. The insurer aims to change the way people look at insurance coverage and how they acquire this coverage and handle premiums. The company may be able to change the way that insurance works in the future through its…

Read More

Demand for cyber insurance is on the rise

Logan B.
cyber insurance

Cyber insurance is becoming more popular among the world’s various organizations Demand for cyber insurance is on the rise throughout the world, according to a new report from Timetric. This is largely due to the growing frequency of digital attacks against businesses and governments. These attacks are having a major financial impact on several organizations and consumers. With more businesses beginning to rely on technology and the digital space, cyber attacks are becoming a significant concern and organizations want protection against these attacks. Some $2.5 billion cyber insurance premiums collected…

Read More

European insurance industry feels the pressure of new capital rules

Marc
Europe insurance industry Flooding and Heavy Rains

Insurers are facing stricter capital rules that may prove difficult to comply with The European insurance industry may be in for a shock from revised capital rules that will take effect in January 2016. ASR Nederland N.V., a Dutch insurance provider, announced last week that its available capital fell drastically below the standard imposed by the new rules. Other companies have reported similar issues, which may show that the European insurance industry is relatively ill-prepared to comply with the new rules once they go into effect. Insurers may be forced…

Read More

UK health insurance program exposed to fraud

Nordstrom
Health insurance fraud and abuse

Loopholes may be fostering fraud in the United Kingdom The United Kingdom’s National Health Service (NHS) may be exposed to fraud due to loopholes associated with the issuance of European Health Insurance cards. The Department of Health has acknowledged these loopholes and the government intends to address the issue by tightening regulations and rooting out fraud. The problem has to do with how European Health Insurance cards are obtained and how coverage is being used and paid for. Journalist exposes fraud In order to obtain a European Health Insurance card,…

Read More

Cyber insurance could lead to growth in the reinsurance industry

Logan B.
Cyber Insurance

Cyber insurance continues to gain attention throughout the world Fitch Ratings has released a new report that highlights cyber insurance as a key growth opportunity for the reinsurance industry. Major cyber attacks have been making headlines recently and the insurance industry is becoming subject to a growing portion of these attacks. Recently, health insurers Anthem and Premera Blue Cross were victims of major data breaches that compromised the information of several million consumers. For the reinsurance industry, the digital world could hold some promise, but also significant risks. Report highlights…

Read More