Texas Attorney General Ken Paxton has filed a lawsuit against General Motors, accusing the automaker of collecting and selling drivers’ data to insurance companies without their consent. The lawsuit alleges that data on over 1.8 million Texas drivers, including driving habits, was collected and potentially used to inflate insurance premiums.
The Goods and Services Tax (GST) Council is set to meet next month to discuss the controversial issue of GST on insurance premiums, a matter that has sparked debate and political controversy. The meeting will also address rate rationalization, aiming to simplify the GST structure and enhance revenue collection.
Sun Life Financial Inc. (SLF) exceeded analysts’ expectations in the second quarter of 2024, posting strong underlying net income growth fueled by robust performance in Canada and Asia. The company saw notable gains in Wealth & Asset Management and Individual – Protection segments, while the U.S. market experienced mixed results.
Unum Group (UNM), a leading provider of income protection insurance, has received mixed signals from analysts in recent months. While several analysts have raised their ratings and price targets, others remain cautious. This article delves into the latest analyst ratings, key financial metrics, and provides insights into Unum Group’s market standing.
The Indian Finance Ministry has directed all public sector undertaking (PSU) insurance companies to expedite claim processing and provide support to victims of the devastating landslides in Kerala. This includes simplifying claim documentation, increasing outreach to policyholders, and setting up a portal to monitor claim status. The government aims to ensure swift and efficient assistance to those affected by the tragedy.
Varun Dua, founder and CEO of Acko General Insurance, exemplifies the entrepreneurial spirit by building a successful company despite not attending top-tier institutions. His journey showcases the importance of experience and innovative thinking in shaping a successful venture. Acko, known as India’s first digital insurance company, has grown significantly, achieving a 31.9% revenue increase in FY23. This article delves into Varun Dua’s professional background, highlighting his key career milestones and Acko’s recent achievements.
As climate change intensifies and extreme weather events become more frequent, the insurance industry is exploring new ways to manage disaster risk. Parametric insurance, which pays out based on pre-defined weather parameters rather than physical damage assessment, is emerging as a promising solution for mitigating losses from climate-related disasters. This article examines the potential of parametric insurance, highlighting its advantages, challenges, and successful implementation in various regions.
While Wimbledon is a prestigious and desirable location, new data reveals hidden costs associated with living in the area. Insurance premiums are significantly higher due to factors such as high property values, potential for burglaries, and the influx of tourists during the tennis tournament. However, the strong community, amenities, and potential for Airbnb income can offset these expenses.
The Indian government is poised to introduce an amendment bill for the Insurance Act, 1938, during the upcoming Budget session, aiming to achieve ‘Insurance for All by 2047’. Key proposed changes include composite licenses, differential capital requirements, and eased solvency norms, potentially leading to a more diverse and inclusive insurance sector.
The Indian Olympic Association (IOA) is set to introduce medical health insurance and a pension scheme for all former Olympians. This initiative, proposed by IOA president PT Usha, aims to support the well-being of athletes who have represented India on the global stage. The move comes after Usha witnessed the financial struggles of former Olympian Limba Ram, who suffered a brain stroke and required financial assistance.
