Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 21st of July 2018
July 31, 2005

Hurricane damage could top 25 billion dollars

by Brian Turner

Story link: Hurricane damage could top 25 billion dollars

The damage from Hurricane Katrina could amount to over $25 billion, although estimates have ranged from $9 billion to the $25 billion figure. It could be several weeks before a firm estimate is established, because a great deal depends on how much underwater damage there was to ports and seaways. The Mississippi River, which enters […]



July 28, 2005

ABI warns on storm insurance costs

by Brian Turner

Story link: ABI warns on storm insurance costs

According to the Association of British Insurers, the worldwide costs related to major storms could increase by 66 percent by the year 2080 unless something is done to reduce or reverse global warming. If steps are not taken, the yearly worldwide costs of cleaning up after storms could reach £15 billion ($27 billion), the Association […]



July 27, 2005

Insurance with drugs licensing under spotlight

by Brian Turner

Story link: Insurance with drugs licensing under spotlight

Health care professionals and insurers in the UK are trying to sort out the difficult question of who is to pay for new and expensive drugs for patients with serious conditions, sometimes before the drug has been licensed and is only being used on an experimental basis. It is a controversy currently being negotiated in […]



July 26, 2005

Assam aims to provide civilians with automatic injury insurance

by Brian Turner

Story link: Assam aims to provide civilians with automatic injury insurance

The government of Assam state in India claims it has a plan to give every member of its population insurance coverage against accidental death and serious injury. The plan calls for all Indian citizens living in the state and registered to vote, or their families, to be eligible to collect 50,000 Indian rupees ($1,151) in […]



July 22, 2005

NHS threatens private healthcare insurance

by Brian Turner

Story link: NHS threatens private healthcare insurance

A report released by independent healthcare analysts Laing and Buisson has claimed that changes to the National Health System is a threat to the private healthcare sector in the UK. While the report found that the number of individuals holding private health insurance had increased slightly in 2004, it also said that innovations by the […]



July 20, 2005

Lloyd's of London offer insurance after Virgin steps in

by Brian Turner

Story link: Lloyd's of London offer insurance after Virgin steps in

Due to the intervention of thousands of people signing a petition and of Sir Richard Branson, the last functioning B-17 bomber in Europe will be able to participate in a fly-over during the commemoration of the 60th anniversary of the end of World War II. Lloyd's of London offered three-months insurance coverage to the plane, […]



July 18, 2005

Boscastle businesses complain of insurance claims

by Brian Turner

Story link: Boscastle businesses complain of insurance claims

Just a year after the Cornish village of Boscastle was hit by flooding, many of the properties that were damaged or destroyed by the flood waters are back up and running. However, some business owners are claiming that their insurance coverage was not honored by the companies that wrote the coverage. Some business owners say […]



July 13, 2005

Ribeiro calls for more health insurance

by Brian Turner

Story link: Ribeiro calls for more health insurance

The new president of the Royal College of Surgeons, Berine Ribeiro, has said that the National Health Service as it is presently constituted, providing free service at the point of use, is unsustainable and that patients should have to pay for part of their health care. This would be done by having them take out […]



July 12, 2005

Lloyds refuses diving claim

by Brian Turner

Story link: Lloyds refuses diving claim

A British scuba diver who fell victim to decompression sickness, also known as the bends, while diving on vacation in Egypt has been denied his insurance claim by Lloyds TSB. The insurer’s position is that the man exceeded the depth provision written into his policy, that this is what caused his illness, and that they […]



July 11, 2005

Lib Dems want car insurance penalties toughened

by Brian Turner

Story link: Lib Dems want car insurance penalties toughened

Liberal Democrats have called for higher fines and loss of drivers licenses to be assessed on drivers who are caught driving without insurance. They complained that current fines for the violation are less than the amount of an insurance premium. This statement came in reaction to the news that the number of London drivers stopped […]



July 9, 2005

Protestors told need insurance to march

by Brian Turner

Story link: Protestors told need insurance to march

A protest rally organized around the G8 conference in Scotland was told that it could only go forward if insurance worth £5 million is secured by G8 Alternatives, the organization conducting the march. The premium for such coverage would cost around £30,000. G8 Alternatives said that they could not afford that much for the coverage, […]



July 8, 2005

Insurance firms re-assure London Bomb victims

by Brian Turner

Story link: Insurance firms re-assure London Bomb victims

In the wake of the July 7 terrorist bombings in London and amid concerns that some victims might not have coverage, UK insurance companies rushed to assure victims and their families that they will process their claims quickly and with sympathy. Several firms, including Standard Life, Axa-PPP and Norwich Union stated that their policyholders would […]



July 7, 2005

Life insurance information used for cancer treatments

by Brian Turner

Story link: Life insurance information used for cancer treatments

Data from life insurance companies is being used on a trial basis to determine which treatments will be most effective for individual patients with prostate cancer. The insurance information is consulted to predict the life expectancy of the patients based on what type of prostate cancer they have. Those predictions are then used jointly by […]



July 5, 2005

BIS introduces home insurance for convicted criminals

by Brian Turner

Story link: BIS introduces home insurance for convicted criminals

Bureau Insurance Services has recently reintroduced a home insurance policy specifically for individuals who have been convicted of crimes and so find it difficult to obtain insurance. The company first began to offer such insurance, called the Fairplay Home Insurance Policy, six years ago. They have written thousands of such policies, which tend to cost […]



IVIG provides insurance for Nessie injuries

by Brian Turner

Story link: IVIG provides insurance for Nessie injuries

One hundred athletes taking part in the VisitScotland Adventure Triathlon on 23 July were insured for £1 million in case they are injured by the Loch Ness monster during the two laps of Urquhart Bay which they must swim as part of the event. The insurance was provided to IVIG. A spokesman for the insurer […]



July 3, 2005

Unison warns to check insurance clauses on terrorism

by Brian Turner

Story link: Unison warns to check insurance clauses on terrorism

A labor union has warned emergency services workers that they need to check their personal insurance policies to make sure that they are covered if they are injured or killed during a terrorist attack. According to Unison, a union that represents emergency service workers, says that they need to check to see if their policies […]