Search

Mutual insurers have unique growth opportunities worldwide, especially in emerging markets where microinsurance can take hold and countries may reform laws to open the market to insurers owned by policyholders, [...]

The Best Places to Work in Los Angeles is an annual celebration of elite employers who have proven that they know what it takes to create environments where people love [...]

Despite a mild deterioration in technical results among Mexico's insurance companies, AM Best is maintaining its stable market segment outlook based on significantly improved premium growth in line with the [...]

Calvin Coolidge was just two years into his presidency when AM Best upgraded Granite State Insurance Co. from a rating of B (Good) to A (Excellent) in 1925. Since hitting [...]

American International Group Inc. named Gordon Browne as global head of specialty and Kelly Lafnitzegger as executive vice president and chief human resources and diversity officer. Browne will serve on [...]

Financial services and access to capital are the backbones of businesses big and small. Our Finance & Insurance professionals are providing more than just loans and policies, they provide growth [...]

Consistency remains this year's theme among the leaders in Best's Review's Top Global Insurance Brokers ranking as Marsh McLennan claimed the top spot for the 14th consecutive year, increasing its [...]

As traditional media relegates insurance beat reporting to the past, insurers use podcasts, blogs, social media and trades to disseminate their work. When Robert Hartwig was in a leadership position [...]

Insurance defense attorney members of Best's Insurance Professional Resources who responded to an exclusive Best's Review survey say they remain committed to the insurance industry but warn that counsel-insurer relationships [...]

In 2022, as we prepared for our first in-person event since the COVID-19 lockdown, our conference director created what she jokingly referred to as our Designated Survivor list. But unlike [...]

Mutual insurers have prided themselves as being the local insurer that takes a conservative approach to rates. That approach has been changing, however, given the challenges posed by economic and [...]

Best's Review contributor Ojusvi Chauhan is an advocate who practices law in New Delhi, India, focusing on insurance dispute resolution and representing some of the world's largest insurers and reinsurers [...]

Purpose: This article tries to explain the rationality of Muslim consumers, aka homo Islamicus, in carrying out philanthropic actions. It is explained from an Islamic Economics perspective why people are willing to sacrifice their economic resources, in the form of: money, time and energy for the benefit of others, such as donating, volunteering or participating in mutual cooperation. Design/methodology/approach: This study apply 2 step of methodology: first, qualitative method using a literature study, and second, quantitative method thru a survey. In the first step, both approaches of the religious economics and the economics of religion are combined use to achieve the objectives of this article. Economic concepts, formulas, curves, graphs and consumer rational choice theory are applied in describing how believers carry out God's command written in the holy book to give alms. On the second step, a survey using face-to-face interviews of 300 middle-up class Indonesian muslim entrepreneurs who were rich enough to be zakat payers (muzakki) was conducted to prove the existence of philanthropic practices in the form of alms of gratituted (sadaqah syukur) and alms of desire (sadaqah hajat). The selection of respondents was carried out using the multiple quasi-random sampling method. Data was analyzed using descriptive statistics by showing gender differences. Findings: In the perspective of Islamic Economics, alms is not ordinary consumption. People do it to gain safety or protection from anything they worries, and also to ensure that their hopes and desires will come true. This motives are derivated from the Al Qur'an verses and Hadith. Therefore, donations are more suitable to be categorized as insurance as well as divine investments, because God is the guarantor. Survey results showed that most of the respondents (88.4%) respondents who issue 'alms of gratitude or sadaqah syukur' which is to increase alms if they get additional income in the form of additional fortune/'rezeki nomplok', big profits and success, etc., although with different intensities (rarely, sometimes, often and always). It is the proof of positive relationship between income and alms. On the other hand, the majority (85.6%) of respondents also admitted they did special alms if they need Allah to fulfill they wish or hope, especially to ward off evil that they worry about, which called 'alms of wish or sadaqah hajat'. Research limitations/implications: Further research is recommended to quantitatively analyze the factors that influence people's giving of alms. Among the influencing factors, such as personal or household income, household dependency ratio, religious observance and level of religiousity should be variables considered. Practical implications: Socialization of the meaning concepts of 'alms of gratitude or sadaqah syukur' and 'alms of wish or sadaqah hajat' can be a strategy in an effort to increase almsgiving behavior for the government and Islamic philanthropic institutions such as BMT (Baitul Mal wal Tamwil) or LAZIS (Zakat, Infaq and Sadaqah Collecting Institute). Originality/value: This study contributes the defenition concept of the believer (homo religious) which reflects the image of a true human being based on his nature, as a correction to the concept of the economic man (homo economicus), so that it can be applied to every man from all religions, even the atheists. Based on an understanding of the true human, the concept of utility regarding human needs and satisfaction from the goods/services they consume is expanded. The proposed concept of 'Maslahah' is total utility from all benefits can be gained by real human from his/her decision to get a product or service by spending their economically resouces, namely: physical/material benefit, psychological benefit, social benefit, spiritual benefit, and religious benefit. So it can explain the rationality of altruistic behavior, including giving alms and other philanthropic acts, because by giving to others, one still gaining self-benefit both in this mortal world life and eternal life hereafter. The contribution of new ideas regarding the concept of 'alms of gratitude or sadaqah syukur' and 'alms of wish or sadaqah hajat' is an effort to support the initiative to 'grounding the Al-Qur'an verses and Hadith on earth' so that Allah's rules are easier to understand and implement in people's daily lives. Keywords: Islamic Economics, Philanthropy, Homo Economicus, Utility, Rational Choice of altruistic behaviour., Introduction Starting 5 years ago, in 2018 Indonesia has been ranked as the most generous country in the world (CAF-Charities Aid Foundation, 2018), and again in 2021 (CAF-Charities Aid Foundation, [...]

Insurers have seen the future and are preparing for a world where artificial intelligence, geopolitical tensions, evolving cyber and climate risk and renewable energy play an ever more significant role. [...]

Parametric insurance contracts, which offer objective 'trigger events' and quicker payouts to those who need relief after a catastrophe, are gaining traction in the market. Parametric insurance contracts, which gained [...]

Northwestern Mutual names successor to retiring CEO, CVS Health appoints permanent CFO and Great West Lifeco leadership shifts as president steps down. State Farm said Chief Financial Officer Jon Farney [...]

Objective: To describe insurance patterns and discontinuity during pregnancy, which may affect the experiences of the pregnant person: their timely access to care, continuity of care, and health outcomes. Data Sources and Study Setting: Data are from the PROMISE study, which utilizes data from community-based health care organizations (CHCOs) (e.g., federally qualified health centers that serve patients regardless of insurance status or ability to pay) in the United States from 2005 to 2021. Study Design: This descriptive study was a cohort utilizing longitudinal electronic health record data. Data Collection/Extraction Methods: Insurance type at each encounter was recorded in the clinical database and coded as Private, Public, and Uninsured. Pregnant people were categorized into one of several insurance patterns. We analyzed the frequency and timing of insurance changes and care utilization within each group. Principal Findings: Continuous public insurance was the most common insurance pattern (69.2%), followed by uninsured/public discontinuity (11.8%), with 6.4% experiencing uninsurance throughout the entirety of pregnancy. Insurance discontinuity was experienced by 16.6% of pregnant people; a majority of these reflect people transitioning to public insurance. Those with continuous public insurance had the highest frequency of inadequate prenatal care (19.5%), while those with all three types of insurance during pregnancy had the highest percentage of intensive prenatal care (16.5%). The majority (71.7%-81.2%) of those with a discontinuous pattern experienced a single insurance change. Conclusions: Insurance discontinuity and uninsurance are common within our population of pregnant people seeking care at CHCOs. Our findings suggest that insurance status should be regarded as a dynamic rather than a static characteristic during pregnancy and should be measured accordingly. Future research is needed to assess the drivers of perinatal insurance discontinuity and if and how these discontinuities may affect health care access, utilization, and birth outcomes. KEYWORDS access to care, continuity of care, health care utilization, insurance churn, insurance discontinuity, maternal and child health, prenatal care, 1 | INTRODUCTION The availability of health insurance and access to high-quality health care is widely assumed to be vital for the health and wellbeing of populations. (1,2) Insurance discontinuity [...]

A single mother in California feared for her job as a UPS package handler each time she had to miss work because her child care provider fell through. Just in [...]

When the reason you exist is essential--ensuring the workers' compensation system in California works--you need the support of an outstanding Learning team to make sure you are successful. At State [...]

BEST PRACTICES Allianz Life Insurance Company of North America: True Balance The True Balance program is designed to provide employees with the tools and support they need to find their [...]

E.W. 'Ted' Blanch Jr. E.W. 'Ted' Blanch Jr., whose 60-year career in the insurance industry led to him taking his namesake company public, died Sept. 29 at the age of [...]

Ignacio Baeza, Mapfre Ignacio Baeza retired effective Jan. 1 from Spain's Mapfre after 27 years of service at the insurer, where he was first vice chairman. Baeza will retain 'close [...]

Rose Marie Glazer, who has served as American International Group Inc.'s interim general counsel since Oct. 1, was appointed general counsel, the company said. Patricia Walsh, who had previously been [...]

Table 3.6. Contributions for Government Social Insurance Billions of dollars] Last Revised on: September 29, 2023 Line 2015 2016 2017 1 Contributions for government 1,210.0 1,244.4 1,304.2 social insurance 2 [...]

Industry's 2023 net premiums written increased 10.4%. State Farm topped the 2024 edition of Best's Review's Top 200 US Property/Casualty Writers, with $92.60 billion in 2023 net premiums written, $15.41 [...]

Swiss Re named Andreas Berger to succeed Christian Mumenthaler as group chief executive officer, effective July 1. Mumenthaler decided to step down after eight years as group CEO and 25 [...]

Table 3.6. Contributions for Government Social Insurance [Billions of dollars] Last Revised on: September 29, 2023 Line 2015 2016 2017 1 Contributions 1,210.0 1,244.4 1,304.2 for government social insurance 2 [...]

The Florida insurance market appears to be stabilizing, Florida Peninsula Insurance President Clint Strauch said, and the company plans a 2% rate reduction midyear for homeowner and condo policies. 'This [...]

In the evolving financial landscape, insurance companies are encountering many challenges and opportunities in managing their assets effectively. With shifting market dynamics, regulatory changes and emerging technologies, it's crucial for [...]

Table 3.6. Contributions for Government Social Insurance [Billions of dollars] Last Revised on: September 29, 2023 Line 2015 2016 2017 2018 1 Contributions for 1,210.0 1,244.4 1,304.2 1,367.0 government social [...]

Leadership development is important to any L&D team, and having great leaders is critical for organizations. Unfortunately, leadership development is still falling short of showing executives the value of leadership [...]

According to a regulatory filing, Warren Buffett's Berkshire Hathaway (BRK.A) reduced the firm's stake in Bank of America (BAC) to 775M shares. Bloomberg notes that the move reduces Berkshire's holding [...]

Universal Insurance is up 10.0%, or $1.69 to [...]

Universal Insurance is up 8.7%, or $1.48 to [...]

Heritage Insurance is up 11.5%, or $1.11 to [...]

BofA raised the firm's price target on Aon plc to $375 from $345 and keeps an Underperform rating on the shares. Insurance brokers continue to be 'generally upbeat' regarding 2024 [...]

BofA raised the firm's price target on Cincinnati Financial to $168 from $149 and keeps a Buy rating on the shares. While Q3 was an active quarter for global catastrophe [...]

Barclays upgraded CVS Health to Overweight from Equal Weight with a price target of $82, up from $63. CVS went 'three-for-three' in important Medicare releases over the past two weeks, [...]

Evercore ISI raised the firm's price target on Aon plc to $384 from $338 and keeps an In Line rating on the shares. Property & Casualty insurance stocks worked in [...]

Jefferies analyst Yaron Kinar raised the firm's price target on Aon plc to $365 from $344 and keeps a Hold rating on the shares. Q3 results, particularly for reinsurers, may [...]

Jefferies raised the firm's price target on Allstate to $231 from $217 and keeps a Buy rating on the shares. Q3 results, particularly for reinsurers, may be overshadowed by this [...]

TD Cowen initiated coverage of Lincoln National with a Hold rating and $34 price target. The firm has a mixed view of the life insurance sector, stating that while capital [...]

KindlyMD is now contracted with UnitedHealthcare Insurance Company. On November 1, 2024, KindlyMD will begin serving patients insured with UnitedHealthcare and will be eligible to receive reimbursement for those services. [...]

Barclays analyst Alex Scott raised the firm's price target on Lincoln National to $36 from $35 and keeps an Equal Weight rating on the shares as part of a Q3 [...]

Barclays raised the firm's price target on MGIC Investment to $24 from $23 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for [...]

In a regulatory filing, Berkshire Hathaway (BRK.A) disclosed the sale of roughly 9.5M shares of Bank of America (BAC), roughly $383M worth of stock, in multiple transactions dated October 3-7. [...]

Universal Insurance is down -16.6%, or -$3.49 to [...]

Heritage Insurance is down -27.0%, or -$3.29 to [...]

Universal Insurance is down -9.4%, or -$1.98 to [...]

Heritage Insurance is down -15.9%, or -$1.94 to [...]