An elderly public housing tenant in NSW will receive full compensation from the government after Homes NSW disposed of her sewage-damaged belongings without consent and mishandled her insurance claim, as per an Ombudsman's report.
Humana reported Q2 earnings of $7.61 per share, beating estimates, with strong performance in its insurance and CenterWell healthcare services. Despite maintaining its 2026 adjusted profit outlook of at least $9 per share, shares fell over 6% due to investor expectations for a raised outlook.
Indian banks and insurers will launch the Central Know-Your-Customer 2.0 (CKYC) system in August, allowing customers to access financial products without repeated ID submissions. Asset managers will join later, aiming to deepen financial participation and combat fraud by simplifying data access with customer consent.
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.
China Life Insurance, backed by the state, is launching a 5 billion yuan ($737 million) fund to invest in semiconductor companies. This move aims to provide "patient capital" for the strategic industry amid global competition, aligning with national development goals.
China Life Insurance, backed by the State Council, is launching a 5 billion yuan ($737 million) fund to invest in semiconductor companies. This move aligns with China's call for 'patient capital' to support strategic emerging industries amid global competition.
A simulated cyberattack on US water utilities, orchestrated by Chinese military hackers (Volt Typhoon), highlights critical infrastructure vulnerabilities and the challenges faced by insurance companies in resource allocation during a national crisis.
A Punjab consumer commission ordered Bajaj Allianz General Insurance to pay Rs 20 lakh for a totalled BMW, rejecting the insurer's appeal. The claim was initially denied based on a forensic report questioning the accident narrative, but the commission found the repudiation to be on flimsy grounds.
Five Hong Kong insurers have launched a marine war-risk pool to provide coverage for vessels in mainland China and Hong Kong, addressing uncertainties in unstable regions like the Middle East. Industry veteran Selina Lau highlighted this collaboration as beneficial for both Hong Kong and the nation.
The Punjab State Consumer Disputes Redressal Commission upheld an order directing Bajaj Allianz General Insurance to pay Rs 20 lakh to a car owner whose BMW 5 Series was declared a total loss after an accident, rejecting the insurer's forensic report as unreliable.
States are enacting laws to regulate Pharmacy Benefit Managers (PBMs) due to concerns over high drug costs. These PBMs, like CVS, manage prescription coverage and negotiate drug prices. Regulations aim to limit PBM compensation, set minimum pharmacist payments, and increase transparency, facing opposition and legal challenges from companies like CVS.
States are enacting laws to regulate pharmacy benefit managers (PBMs) due to rising drug costs. These PBMs, which manage prescription coverage for insurers, are facing restrictions on their operations and compensation. CVS Health is actively fighting these regulations through lawsuits and advertising campaigns, while independent pharmacies argue they are being squeezed by PBMs' practices.
A mentally challenged woman, Sugna, was rescued in Jaisalmer, Rajasthan, after being found chained by her legs in inhuman conditions, allegedly by her brother-in-law. The District Legal Services Authority intervened, freeing her and initiating an investigation into the confinement.
South Korea's non-life insurers saw their auto insurance loss rate climb to 84.7% in the first five months of the year, a 1.9 percentage-point increase from the previous year, attributed to a rise in traffic.
South Korea's insurance companies saw their capital adequacy ratio rise to 216.1% in Q1, up from 212.3% in Q4, driven by increased available capital and gains in stock holdings. Life insurers reached 207.7%, while non-life insurers hit 229.7%.
Despite a preliminary deal between the US and Iran to end a war and reopen the Strait of Hormuz, marine traffic has not resumed significantly. Shipping companies and insurers are adopting a wait-and-see approach due to lingering concerns over mines, potential tolls, and high insurance rates.
Clearing the Strait of Hormuz of mines could take 40-50 days, impacting oil supplies, according to Western maritime security sources cited by Reuters. An agreement between the US and Iran, set for signing June 19, includes a 60-day ceasefire and lifting of a maritime blockade.
A Hong Kong homemaker faced significant distress trying to secure health insurance for her autistic son, with multiple companies unwilling to offer coverage due to his condition. The Hong Kong Autism Institute has launched an initiative to support such families.
Aviva detected £233m in fraudulent insurance claims in 2025, a record high, with scammers using AI to fake accident scenes and documents, leading to increased motor and home insurance fraud.
Nanjing police have busted an insurance fraud ring where agents exploited high-commission life insurance policies, creating fake policies and pocketing over 4.8 million yuan. The scheme involved self-insurance, mutual insurance, and enlisting friends and family to create fictitious policies, leading to the arrest and conviction of the ringleader.
Taiwan's Financial Supervisory Commission (FSC) will amend regulations to require life insurers to invest in foreign government bonds with a credit rating of BBB- or higher. This move aims to enhance risk management and capital adequacy, affecting approximately NT$374.4 billion in existing holdings.
A Delhi consumer court upheld Bajaj Allianz's rejection of a Rs 41,530 health insurance claim. Investigators found discrepancies, including an injection given after discharge and a pathologist denying verification of reports, indicating fabricated medical documents.
Nine in 10 rural UK retailers have been victims of crime in the past year, with an average financial cost of £83,000 per business, according to NFU Mutual research. The findings highlight the significant impact of theft and shoplifting, even in remote areas.
A Delhi woman's Rs 20 lakh life insurance claim, denied by India First Life Insurance over alleged non-disclosure of diabetes and kidney disease, was upheld by the State Consumer Commission. The insurer failed to prove deliberate concealment, leading to a ruling in her favor.
