As less than 10 per cent of Indians have life insurance cover, the way forward to increase life insurance penetration is through bancassurance, according to Anuj Mathur, CEO, Canara HSBC Oriental Bank of Commerce Life Insurance. The bancassurance channel involves banks selling life insurance to their clients. “We should ensure […]
Insurance
Insurance giant to link premium discounts to customer behaviour
The Netherlands’ biggest insurance company Achmea plans to offer premium discounts to customers who agree to have their behaviour at home and in the car monitored, the Financieele Dagblad says on Thursday. For example, Achmea is working with Google Nest to develop a meter which will be linked to […]
NAICOM wants zero tolerance for unethical vices
Leave a comment Chuks Udo Okonta The National insurance Commission (NAICOM) has called on insurance operators to henceforth exhibit zero tolerance for unethical vices or face the law. The Commissioner for Insurance Mohammed Kari, who said this at an event in Abeokuta, said the call has become necessary as most […]
Insurers Urged to Reach Rural Areas
By Mariam Said The insurance industry grew at an average rate of 18 per cent in the last five years, but the services were mainly concentrated in urban centres. During the 18th Annual Insurance Day in Dar es Salaam at the weekend, the Minister of State in the President’s Office […]
33 Million Americans Still Don’t Have Health Insurance
By Anna Maria Barry-Jester and Ben Casselman Nearly 9 million people gained insurance last year, a win for “Obamacare” as the president’s signature health care law expanded Medicaid and opened health insurance exchanges. And yet, 33 million Americans, 10.4 percent of the U.S. population, still went without health insurance for […]
Protecting your family with life insurance
September is Life Insurance Awareness Month. Financial professional Tony Zimmer from Trifound joined us to talk about who should be covered and what options are out there. 1. Know the Types There are two main categories of life insurance policies. Term policies cover you for a specific number of years, […]
Woman arrested over wedding ring scam
A woman has been arrested as part of a national clampdown on suspected fradulent insurance claims. The 26-year-old from Rainhill was one of six people arrested as part of a major operation by the Insurance Fraud Enforcement Department (IFED), part of the City of London Police. She was detained on […]
Bitter pill to swallow: New York State top health insurer to shut down in 2016
People celebrate in front of the US Supreme Court after ruling was announced on the Affordable Care Act. June 25, 2015 in Washington, DC. Photo by Mark Wilson/Getty Images New Yorkers with policies issued by Health Republic (a non-profit insurer backed by the federal government) will be forced to seek […]
Surgeries by unlicensed assistant part of $150m insurance fraud, say prosecutors
Physician assistant not trained to perform surgery operated on hundreds while surgeon billing for procedures hid massive insurance fraud conspiracy A physician assistant who wasn’t licensed or trained to perform surgery operated on hundreds of patients while the orthopedic surgeon who billed for the procedures schemed with colleagues to hide […]
The growing role of the insurance compliance officer
The role of the insurance compliance officer has evolved from a purely advisory role into a proactive one with internal audit characteristics in the last few years according to a white paper by Ethical Corporation, a global business publication. The paper notes that whereas the typical job of the compliance […]
