News – Insurance Journal
|UK Financial Regulator Raises No Objection to Bain’s Acquisition of Insurer LV=
Britain’s financial watchdog said on Tuesday it won’t stop insurer LV= from proceeding with the disputed sale of its pensions and life insurance business to U.S. private equity company Bain Capital. LV=, founded in 1843 and formerly known as Liverpool …
POSTED OCTOBER 26, 2021 11:14 AM
|Reinsurance Price Increases Support Improving Outlook for Sector: Fitch
Reinsurers’ plans to continue raising premium rates during the January 2022 renewals are likely to contribute to stronger profitability and an improving sector outlook, according to Fitch Ratings. Fitch said it expects double-digit percentage premium rate rises for property catastrophe …
POSTED OCTOBER 26, 2021 10:22 AM
|Parametric Insurer CCRIF Strengthens Belize Warning Systems for Extreme Weather
Parametric catastrophe insurer CCRIF continues to strengthen Belize’s early warning systems for rainfall and climate forecasting with a new grant of US$43,140. This grant brings CCRIF’s Belize contributions to US$143,000, which began helping the country purchase and install automatic weather …
POSTED OCTOBER 26, 2021 9:11 AM
|Australian Publisher Urges Government to Compel Facebook to Negotiate Content Deal
SYDNEY – A small Australian publisher is calling for the government to enforce a new law to compel Facebook Inc to negotiate a content deal, prompting the architect of the rule to say he was “concerned” about the social media …
POSTED OCTOBER 26, 2021 8:53 AM
|Southern Ontario Storms in September Cause Insured Damages of C$105M
Storms that hit southern Ontario on Sept. 7 and Sept. 22 caused C$105 million (US$84.9 million) in insured damage, according to the Insurance Bureau of Canada (IBC), which quoted initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). These storms …
POSTED OCTOBER 26, 2021 8:11 AM
|Indiana Farm Bureau Offers $10K Reward for Information Related to Series of Barn Arsons
A reward is being offered as investigators try to find whoever has set at least a dozen barn fires at northern Indiana farms this year. The Farm Bureau groups in Elkhart, Kosciusko, St. Joseph and Marshall counties created a $10,000 …
POSTED OCTOBER 26, 2021 7:00 AM
|Allegations of Bias Against Kansas Law Enforcement Rarely Yield Sanctions
Kansas law enforcement agencies have received hundreds of complaints of bias over the past 10 years, but records available to the public show only two alleging racial bias resulted in consequences for officers, an Associated Press examination of the data …
POSTED OCTOBER 26, 2021 6:15 AM
|Texas Furniture Manufacturing Company Faces $247K in Fines for Exposing Employees to Amputation Hazards
The U.S. Department of Labor’s Occupational Safety and Health Administration said it has given MooreCo Inc., a Temple, Texas furniture design and manufacturing company, several opportunities to stop exposing its workers to amputation hazards, but an investigation into a recent …
POSTED OCTOBER 26, 2021 6:00 AM
|More ‘Missing’ Rolexes Turn Up; Owner Charged with Fraud
North Carolina authorities announced Monday that a Raleigh man has been charged with falsely claiming that two Rolex watches had been stolen, an apparent ruse to gain insurance payments. James Henry Weeks III, 47, was charged with insurance fraud and …
POSTED OCTOBER 26, 2021 5:24 AM
|People Moves: Villages, AXA Add Names
Villages Names New People The Villages Insurance Partners has added two new people to its team of personal line risk consultants. Mary Ann Schabowski will work out of the agency’s Spanish Springs office, specializing in home, auto, golf car, motorcycle …
POSTED OCTOBER 26, 2021 5:11 AM
Life Insurance Information & Discussion
|Should I own my term life insurance policy or should I jointly own with my wife?
| submitted by /u/virajajgaonkar
This is my first time purchasing Life Insurance. I am planning to purchase Term Life Insurance policy. It gives me an option to own it myself or jointly own it with my wife. What are the considerations when choosing among the options? Also is one option popular with married couples over the other?
POSTED OCTOBER 25, 2021 10:57 PM
|25yr with 22yr sibling
| submitted by /u/glitch_bih
Hi, experienced the worst out of Covid, lost my parents and now I have to make a lot of changes. My sister lost her job while I still have mine thankfully. I want to get out of my employer’s life insurance, but not sure which company to go for. I make roughly around $46k and I’ve seen the reviews for Allstate. I don’t like jumping into big named companies without doing better research. I tried studying a bit on the policies, but I honestly rather reach out to someone with better expertise. I just want a permanent policy I can do for myself and my sister. If term is recommended then I can do that. But from what I read, it’s probably better for permanent. Just don’t know which type to get or who to be insured by lol Any suggestions are welcomed, thank you all for taking the time to read this. Truly means a lot, bless you!!
POSTED OCTOBER 25, 2021 6:23 PM
|Disclosing haemorrhoids when taking out life insurance??
| submitted by /u/___xMegx___
So I just took out life insurance and one question was are there any other medical conditions not already mentioned. I was referred to a colorectal surgeon re haemorrhoids but I was too embarrassed to say on the phone to this happy sales guy. I have a follow up telephone appt with the surgeon in Dec to decide whether I want an op. Could my life insurance be declined based on non-disclosure? What should I do?
POSTED OCTOBER 25, 2021 10:16 AM
| submitted by /u/Mr-all-in-one
I heard that you can sell (cash out) life insurance policy, I was just wondering what are the steps I take to do so? Have ran into some hard times and could use some extra cash. currently living with the in-laws and need to get out of their house . 27 year old male, no health problems.
POSTED OCTOBER 22, 2021 8:21 PM
|Under 30 optional life insurance?
| submitted by /u/lallamablanca
Started my new job. Wife and I are offered optional life insurance, but have no idea or direction on how much to select. I know its increments of 10k, but could anyone lend information or guidance on what would be a good amount to target? Thanks!
POSTED OCTOBER 22, 2021 12:56 PM
|How has the blood draw process become normalized?
| submitted by /u/DruPDrawers
Nobody had given me a heads up that a blood draw would be required for life insurance. I showed up to a random examiner's office building, which amounted to a closet-sized office and was shared with 40-50 other companies. I met the woman doing the examination out front of the office and she had all her supplies in her bookbag. Nothing in there spoke sanitized medical facility to me, and the nice lady whips out a needle and expects me to be OK with a stranger taking my blood and then shoving it into a backpack? I asked and she plainly said she would be dropping the blood sample off at fedex, where it would be shipped across the country for processing.
Mind you I'm totally OK sharing my health information and results of the blood exam. I'd even use my own health insurance to cover the exams, but thus far that hasn't been deemed acceptable. How is this normal behavior where a stranger in plain clothes meets you in a dusty office building with nobody else around and takes your blood?
POSTED OCTOBER 20, 2021 6:56 PM
|Help Needed To Practice For New Job
| submitted by /u/Autumn_Enthusiast
I have started a new job as a Life Consultant, but before my company can release me into the field, I need to submit 10 practice presentations. I don't have many friends, so I don't have anyone to practice with. It will take around 15 mins over zoom and any information you share with me will be completely confidential. If anyone is interested in helping me out, please reply.
POSTED OCTOBER 20, 2021 5:22 PM
|Life Insurance Policies for Small Businesses?
| submitted by /u/applebuttersticker
Hi, I own a small business and was wondering if there were any life insurance options for small businesses or business owners? Thanks!
POSTED OCTOBER 19, 2021 11:28 PM
|Life insurance for 30yo with 2 past strokes
| submitted by /u/rvdsabu4life
Finance is 30 and has very poor medical history. in 2022, she is set for two heart surgeries. I am new to life insurance, but from the research I did, it doesn't look like she can qualify for even guaranteed life insurance because she's so young. I would entertain any options if any exist for her?
POSTED OCTOBER 19, 2021 7:21 PM
|My grandfather is 71, who had a term policy terming out in december. His policy doesn’t seem to be convertible anymore because he had to do it before 70, his health wouldn’t really qualify him for much at this point, are there any life settlement options or anything else?
submitted by /u/iamproductiveguy
POSTED OCTOBER 19, 2021 2:05 AM
NHC Tropical Weather Discussion (Atlantic)
|NHC Atlantic Tropical Weather Discussion
AXNT20 KNHC 260900
Tropical Weather Discussion
NWS National Hurricane Center Miami FL
1205 UTC Tue Oct 26 2021
Tropical Weather Discussion for North America, Central America
Gulf of Mexico, Caribbean Sea, northern sections of South
America, and Atlantic Ocean to the African coast from the
Equator to 31N. The following information is based on satellite
imagery, weather observations, radar and meteorological analysis.
Based on 0600 UTC surface analysis and satellite imagery through
An Atlantic tropical wave is along 26W/27W from 17N southward,
moving W at 10-15 kt. Scattered moderate convection is evident
well east of the wave axis from 11N to 13N between 20W and 22W.
A Caribbean tropical wave has an axis along 81W from 18N
southward and moving W at 10-15 kt. Scattered moderate convection
is noted from 07N to 10N between 77W and 79W.
The monsoon trough extends off the coast of Guinea-Bissau near
12N16W to 11N23W. The ITCZ extends from 07N27W to 06N49W. In
addition to the convection described in the Tropical Wave section,
scattered moderate convection is within 120 nm either side of the
ITCZ between 32W and 45W.
...GULF OF MEXICO...
Divergence aloft associated with an upper anticyclone is
supporting a persistent cluster of showers and thunderstorms over
the north coast of the Yucatan Peninsula currently. A cold front
is moving into the north central Gulf, and currently reaches from
near Fort Walton Beach, Florida to southeast Louisiana. Gentle to
moderate W to NW winds are evident over the northeast Gulf with 3
to 4 ft seas. A weak pressure pattern is in place across the
remainder of the Gulf, supporting light breezes and 1 to 3 ft
For the forecast, fresh to strong southerly winds will develop
across the NW Gulf tonight into Wed ahead of a cold front expected
to push off the Texas coast on Wed. The front will move across
the Gulf region through Thu night. Fresh to strong winds are
expected ahead and behind the front, with building seas of 12-13
ft in the wake of the front. Frequent gusts to gale force are also
expected over the north-central and NE Gulf Wed night through Fri
before quickly diminishing early Sat.
A sharp upper trough extends from the central Atlantic near 30N49W
through the Leeward Islands to the coast of Colombia. A few
showers are noted in regional radar on the southeast side of this
upper trough, moving quickly westward in the trade wind flow and
mostly staying over the Atlantic, but impacting the Leeward
Islands, Virgin Islands and Puerto Rico. Fresh to strong trade
winds are active over the south-central Caribbean, supporting a
few showers and 5 to 7 ft seas. Moderate to fresh trade winds
persist over eastern Caribbean with 4 to 5 ft seas. A recent
scatterometer satellite pass indicated that the fresh E winds
observed earlier over the Bay Islands and the Gulf of Honduras
have diminished slightly. Seas are 3 to 5 ft in that area.
Moderate trade winds and 3 to 5 ft seas are noted elsewhere,
except for light SE winds and slight seas over the northwest
For the forecast, weak ridge across the western Atlantic will support fresh
to locally strong trades across the eastern Caribbean and tropical
Atlantic waters E of the Windward Islands through tonight. Winds
are also expected to pulse fresh to strong in the south-central
Caribbean, including the Gulf of Venezuela tonight. A cold front
will enter the NW Caribbean Thu night and reach from western Cuba
to the Gulf of Honduras by midday Fri.
A deepening, non-tropical low pressure system is located N of
area about 215 nm ENE of Cape Hatteras, North Carolina. The
associated cold front is moving eastward across the waters north
of 28N off northeast Florida. Scattered showers and thunderstorms
are active north of 28N and within 360 nm east of the front. An
earlier scatterometer satellite pass from 02 UTC confirmed strong
to near-gale force SW winds within this area. A concurrent radar
altimeter satellite pass showed seas were reaching 8 to 10 ft.
Farther east, a weak ridge extends from 1026 mb high pressure near
the Azores Islands westward to 25N65W, disrupted somewhat by a
trough near 50W north of 20N, and a cold front north of the area
over the north central Atlantic. This pattern is supporting
moderate trade winds south of 15N, and light to gentle winds
elsewhere. Seas are 6 to 8 ft over the tropical Atlantic with a
component of N swell, and 4 to 6 ft elsewhere, except 5 to 7 ft
east of 35W.
The Cumbre Vieja volcano, on the island of La Palma in the Canary
Islands, has been erupting since 19 September 2021. Ash cloud
slowly drifting SW. Higher concentration over volcano and western
vicinity. Marine and aviation interests should monitor this
ongoing situation by reading the Volcanic Ash Advisory issued by
Meteo- France, at http://vaac.meteo.fr/volcanoes/la-palma/.
For the forecast west of 65W, the low pressure off the Carolinas
will move northeast through today and rapidly intensify. An
associated cold front moving eastward across the northern forecast
waters will produce fresh to strong southerly winds and building
seas expected ahead of it. Another cold front will move off NE
Florida coast today, and bring more fresh to strong winds across
the waters N of 27N. Both fronts are forecast to merge by tonight.
The next cold front is expected to sweep across the region Thu
night through Fri night producing another round of fresh to strong
winds north of the Bahamas.
POSTED OCTOBER 26, 2021 9:00 AM