Friendsurance raises funding to support its innovative take on health insurance

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…

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Insurance industry sees a decline in insured losses in 2013

insurance industry

Swiss Re report shows that insured losses in 2013 were lower than what they were in 2012 Swiss Re, a leading reinsurance firm, has announced that the global insurance industry has seen losses from natural disasters and man-made catastrophes fall by 44% in 2013. A calm hurricane season help insurers avoid significant losses, but powerful storms in Europe had a significant impact on the insurance industry. Despite this impact, however, insured losses industry-wide were less than what had been seen in 2012. As such, the insurance industry is expected to…

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Northern Europe Cleans Up After Extratropical Cyclone Xaver: AIR

flood insurance

BOSTON, Dec. 10, 2013 – According to catastrophe modeling firm AIR Worldwide, last week, Extratropical Cyclone Xaver affected large parts of northern Europe, particularly the United Kingdom, Northern Ireland, Germany, the Netherlands, Belgium, Denmark, southern Sweden, Poland, and the Czech Republic. Xaver followed approximately five weeks after Windstorm Christian battered Denmark, Germany, the Netherlands, France, UK, and Sweden in late October. AIR estimated insured losses of between EUR 1.5 billion and EUR 2.3 billion from Christian. “Hurricane-force winds caused widespread power outages and travel disruptions throughout the region, but the…

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Severe Hailstorms Strike Germany in Late July: AIR Worldwide

Insurance News

BOSTON, August 23, 2013 – According to catastrophe modeling firm AIR Worldwide, after a prolonged period of above average temperatures in Central Europe, several severe hail events were triggered on the 27th and 28th of July, ahead of a low pressure system named Andreas. On July 27 in northern Germany, a hail supercell was first reported northeast of Dortmund and propagated toward Wolfsburg. A second severe hail storm on July 28 was similarly triggered, but affected Reutlingen, Nürtingen, and Kirchheim unter Teck in southern Germany, which is a heavily populated…

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Germany balks at EU regulations targeting the insurance industry

German insurance industry

Insurance industry shows unease over new risk management regulations The European Union is currently working to introduce new regulations to the insurance industry in an effort to moderate risk and exposure. These rules are meant to impose new risk management standards on large insurance companies in order to mitigate any problems that could be caused by future financial disasters. In Germany, these regulations are being met with resistance as the insurance industry balks at the deadlines imposed by the European Union concerning the implementation of these new regulations. German agency…

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