Live Insurance News

European Commission plan rejected by Germany

September 21, 2012September 21, 2012 Nordstrom

European Commission finds opposition to banking plan German lawmakers have rejected a proposal coming from the European Commission concerning the ongoing financial crisis enveloping Europe. The European Commission has been working to solve the issues caused by the financial crisis, but has made little headway. With the help of the insurance industry, however, some problems have been resolved. Some of the world’s largest insurance companies have agreed to provide coverage and issue bonds that will help countries recover from the financial crisis. Not all of the European Commission’s proposals have…

Insurance news from Iran shows oil tankers are bypassing embargoes

September 19, 2012April 30, 2013

Iranian vessels are now easily skirting around the E.U. sanctions. Though the sanctions from the E.U. against Iranian oil tanker coverage had been making insurance news with their efficacy when they were first set into place in July, the Middle Eastern country has since shown that it is no longer struggling with those bans. The coverage embargoes are no longer in the way of Iran’s crude shipments. According to the Central Insurance of the Islamic Republic of Iran’s deputy head for planning and development, Rahim Mosaddeq, “Most of the sanctions…

Insurance news from Zurich is that it is looking to expand in Asian market

September 11, 2012September 11, 2012 H. Cutner

The insurer is seeking to broaden its presence in Indonesia and China. The largest Swiss insurer, Zurich Insurance Group, has revealed in its latest insurance news, that it is working to obtain additional licenses in order to be able to broaden its business in Chinese cities, as an element of its strategy to boost its presence in emerging markets. This announcement came from Martin Senn, Zurich’s chief executive officer. Senn also stated that while the insurer does see opportunities for growth in the channel of mergers and acquisitions, the company…

Insurance news shows that China is a more challenging marketplace than anticipated

August 28, 2012August 27, 2012 Julie Campbell

The compulsory auto coverage has both advantages and drawbacks for insurers. The Chinese marketplace is a captive one, and though this would seem like it is positive insurance news, particularly for the insurers, themselves, it is coming with its struggles. Fitch Ratings has reported that this environment is leading to some surprising losses. Although the law in China requires all motorists to have a car policy, which should – in theory – dilute the risk that is associated with underwriting that coverage, the most recent insurance news numbers are showing…

Accident insurance offered for free to disabled people in Beijing

August 16, 2012 Julie Campbell

Over four hundred thousand to benefit from this new group coverage. The Beijing Disabled Persons Federation has announced that the 410,000 people in the capital city of China who have a disability will be receiving free group accident insurance to help them to improve their quality of life. This program is a part of a greater improvement effort to the social security network in China. By offering accident insurance to the disabled individuals in the city, it is hoped that they will be better able to integrate with the rest…