How kidnapping insurance keeps a lid on ransom inflation

IN THE early 1970s, leftist guerrillas in Argentina discovered a lucrative new way to make money: kidnap millionaires. Panicking firms would agree to huge ransoms, more concerned with freeing their executives than driving down the fee. That was not just bad for businesses. It also became a textbook case of how poor negotiating can send […]

Cyberwrite Named a 2018 Cool Vendor in Insurance by Gartner for Its Cyberrisk Profiling Technology

PRESS RELEASE: Vendors selected for the “Cool Vendors” report are innovative, impactful and intriguing SAN FRANCISCO & TEL AVIV, Israel–(BUSINESS WIRE)–May 16, 2018– Cyberwrite today announced it has been included in the list of “Cool Vendors” in the “Cool Vendors in Insurance”1 by Gartner,…Read More

Former boss of Anbang Insurance Group sentenced to 18 years in prison for fraud

Reuters Wu Xiaohui, former chairman of Anbang Insurance Group, has been sentenced to 18 years in prison for fundraising fraud and embezzlement. Anbang was founded in 2004 and bought the famed Waldorf Astoria Hotel in New York City. It also has significant stakes in Chinese banks and property developers.  Wu Xiaohui, former chairman of Anbang […]

A bondholder finds a sneaky way to trigger insurance against default

IN 2013 Codere, a Spanish gaming firm, owed money it could not repay. Its bonds were trading at just over half face value. Blackstone, a private-equity firm, offered it a cheap $ 100m loan. But there was a catch. Blackstone had bought credit derivatives on Codere’s debt that would pay out about €14m ($ 19m) […]

Car insurance: Average price has recorded its first quarterly fall in two years

Despite the drop, average costs during the first quarter of 2018 were the highest that the Association of British Insurers (ABI) has ever seen at this time of year. The ABI’s latest Motor Insurance Premium Tracker found the average price paid for private comprehensive motor insurance was £478, down £13 on the final quarter of […]

You can insure TVs, trips, phones, and more — here’s how to decide if it’s worth paying for insurance

  Studio/Shutterstock Insurance is offered by companies for practically anything these days — you can expect an offer to buy insurance for your car, a new tv, and even your airline ticket to London.  Companies seem to be increasingly offering insurance on all manner of things in part because of loss aversion — but more importantly […]

How to use Jetty, the modern solution to traditional renters insurance that’s affordable and easy to understand

The Insider Picks team writes about stuff we think you’ll like. Business Insider has affiliate partnerships, so we get a bounty when you generate a quote. For various reasons, some renters can’t fulfill the security deposit or guarantor requirements of a new lease, putting them at a disadvantage for finding a stable living situation.  Jetty […]

Travel insurance: You could be paying 18 times more for insurance with these providers

DAVID SEAR Many add-on travel insurance policies are ‘not fit for purpose’ A recent investigation by Which? Travel has raised questions over whether add-on travel insurance policies are value for money and fit for purpose. It revealed that holidaymakers who buy add-on travel insurance at the same time as buying flights or holidays online can […]

Insurance and the gig economy

THE rise of the gig economy means not only workers, but those who insure them, are having to adapt. Take third-party liability insurance—the sort that would pay out if, for instance, a courier hit and injured a pedestrian. An employee driving a company van would be covered by a standard commercial-insurance policy. But “gig” couriers, […]

Cruise holiday policies: What to look out for when booking travel insurance

Cruise holidays for 2018 are continuing to increase, as more people take to the sea for their next big trip. Whilst they can be a great way to see the world, they can also be slightly expensive. British travellers may not purchase travel insurance, something many admit to despite it potentially leaving them out of […]