A Jammu and Kashmir consumer commission ruled that J&K Bank and PNB MetLife India Insurance cannot deny loan-linked insurance benefits by reversing the premium after a borrower's death. The bank and insurer were ordered to pay the insured amount, compensation, and legal costs to the deceased's family.
Missing a term insurance premium doesn't immediately cancel coverage. A grace period allows for payment, and nominees can receive benefits if death occurs. Unpaid premiums after the grace period cause the policy to lapse, stopping life cover. Lapsed policies can be revived within five years, often requiring health checks.
A progressive advocacy group warns that proposed FEMA reforms could significantly raise the threshold for federal disaster declarations, making relief harder to access for survivors and shifting more burden to states and local governments.
Homeowners insurance premiums have surged 24% between 2021-2024. Experts suggest fortifying homes, raising deductibles, avoiding small claims, reviewing coverage, bundling policies, improving credit, and considering insurance costs when buying a home to mitigate rising costs.
A KFF study estimates Affordable Care Act marketplace enrollment could fall by 5 million people in 2026 due to sharply higher costs after federal subsidies lapsed. Average premiums rose 58%, leading many to switch to plans with higher deductibles.
The Indian government has launched a $1.5 billion Bharat Maritime Insurance Pool, backed by a $1.4 billion sovereign guarantee, to offer risk cover for Indian vessels on international routes, including war zones. This initiative aims to reduce shipping insurance premiums and guarantee coverage even when global insurers withdraw due to rising risks.
Asia’s next food crisis is under way. After the US-Israeli strikes on Iran, shipping through the Strait of Hormuz collapsed, sending shock waves across energy, fertiliser and food systems. Fuel, freight and fertiliser costs are rising sharply, amplified by skyrocketing insurance premiums – feeding directly into the price of every tonne of fertiliser that still reaches the market. The scale of disruption reflects the strait’s outsize role in global trade. It carries around one-third of globally...
UK exports to Middle East fell 20% year-on-year in March, with certificates of origin dropping from 15,437 to 12,360. The British Chambers of Commerce reports firms face less reliable trade routes, rising costs and geopolitical risks, with the Strait of Hormuz badly disrupted. The CBI also shows UK companies increasingly pessimistic about the economic outlook.
Health insurance premiums in India are expected to rise by 10-25% in 2026, driven by escalating healthcare costs, increased post-COVID claims, and changing risk profiles. Younger policyholders under 35 may see 5-10% increases, while those aged 46-61 could face 20-30% hikes. IRDAI caps senior citizen premium increases at 10% without regulatory approval. Experts recommend reviewing policies, increasing deductibles, or adding top-up plans rather than lapsing coverage.
The Iran war has delivered a systemic shock to the Gulf’s security architecture and economic miracle. Two taboos were rapidly broken. The Strait of Hormuz, which carries roughly one-fifth of global oil consumption and close to a quarter of seaborne crude, was paralysed for sustained periods. Iranian strikes reached deep into Gulf territory, hitting ports, energy terminals and airports with a frequency that exceeded attacks on Israel. War-risk insurance premiums and tanker charter rates surged...
The Strait of Hormuz has been largely closed since late February when US and Israeli war on Iran triggered a blockade, bringing shipping to a near standstill. The vital waterway, which normally carries 25% of world seaborne oil and 20% of LNG, briefly reopened earlier this month before Iran re-closed it on Saturday. Logistics disruptions including longer transit times, missed sailings, and higher insurance premiums are already affecting wine, spirits, and time-sensitive goods, with analysts warning prices will rise on shop shelves and restaurant tables.
