News 

Banks and insurers dial into world’s poorest

“When insurance agent Hope visited the small town of Asamankese in Ghana last year, the reaction she got was one that few salespeople in the western world could dream of” writes Ben Marlow for telegraph.co.uk. Hope is one of thousands of agents descending en masse to different rural villages and deprived cities around the world every week, dressed in bright blue clothes and caps branded with the logo of a mobile phone operator. But instead of flogging phone packages they are selling insurance – rebranded “bodyguards” by the agents trying…

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VC Bill Gurley says investing in health care is ‘extremely dangerous,’ but he’s doing it anyway

“I’ve been spending a lot of time looking at health care, and it’s extremely dangerous” writes David Paul Morris for cnbc.com. Nonetheless, technology companies are pouring more resources into health care and wellness products.Americans spend nearly 1 in 5 dollars on health care, the Brookings Institution estimates.The Apple Watch has been discussed as a tool for health insurance administration and Alphabet’s Verily is undertaking an exhaustive health-care study.Venture capitalist Bill Gurley says he recently made two health-care investments even though he says the sector is filled with perils. Source: cnbc.com Share…

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Kids may lose insurance over missed deadline

“Roland is covered under the Children’s Health Insurance Program (CHIP), a federal health insurance program that provides inexpensive coverage to nearly 9 million children in low-income families” writes Aol Staff for aol.com. Why legislators missed the Sept. 30 deadline to renew CHIP had more to do with other health care bills in Congress than it did with CHIP itself, experts say.But now Roland — who this week spent time getting ready for Christmas by painting ornaments in between hospital visits — is facing another blow: His health insurance may run…

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Crypto News 

Blockchain B2B FinTechs Score With Investors

“Check out the two blockchain B2B FinTechs that scored new funding below, plus two other firms that landed their own fresh funding rounds” reports pymnts.com. PayStand scored another win for B2B payments venture capital with the announcement of a $6 million Series A funding round.The U.K.-based startup deploys blockchain technology to help insurance companies manage back-office functions, from accounting, billing and collections to claims management.In addition to the new funding, the company also announced the beta launch of its accounts payable platform.In announcing the funding, Jeremy Almond, CEO and founder…

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Beijing opens its finance sector: One domestic industry may be the big winner

“But it’s not just overseas companies that stand to benefit: One important Chinese sector will grow stronger, experts said” writes Huileng Tan for cnbc.com. In July, a senior Chinese insurance regulator warned of multiple risks in the industry, including liquidity, state news agency Xinhua reported.China shocked the world last week when it suddenly announced it would finally make some moves to open up its financial sector to more ownership from international investors.In fact, the management in China should begin adopting better strategies for risk management — a persistent issue in…

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No flood insurance for the condo? It’s potentially negligent to go uncovered

“Until recently, we have had flood insurance although we are not in a flood zone” writes Gary M for sun-sentinel.com. To put it simply, it is potentially negligent for a board not to use its best efforts to fully insure the condo, including getting flood insurance.However, recent instances of rising water have shown us that flood insurance indeed is necessary.Due to the way that the insurance industry is structured, other types of insurance, such as the standard hazard policy that every homeowner should have, specifically exclude what flood insurance covers. Source:…

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I.R.S. Starts to Enforce Health Law’s Rule That Employers Offer Insurance

“Employees who are offered health insurance through their jobs are ineligible for the subsidies” writes Stacy Cowley for nytimes.com. The tax agency began requiring those forms two years ago, but it repeatedly ran into problems processing them.When the health law was passed, lawmakers feared that without an employer mandate, companies would cancel their insurance benefits and send large numbers of employees to the health care law’s insurance exchanges, where many people qualify for government subsidies.The penalty is activated if at least one employee then buys insurance on the health law’s…

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Markets News 

Consumers’ market remake if ‘Obamacare’ mandate repealed

“Put the two together and the marketplace for about 18 million people buying their own health insurance could look very different in a few years” writes The Associated Press for seattletimes.com. Because fewer people would be paying into the insurance pool, premiums for individual plans would rise about 10 percent.The drive by Senate Republicans to undo the coverage requirement under former President Barack Obama’s health care law is a sharp break from the idea that everyone should contribute to health care.WASHINGTON (AP) — Millions are expected to forgo coverage if…

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Democrats zero in on healthcare with amendments to Senate tax bill

“Democrats on the panel offered several amendments to slow or undo the tax bill, the Tax Cuts and Jobs Act, if it had negative effects on the healthcare system” writes Joseph Lawler for washingtonexaminer.com. Democrats focused on healthcare, not taxes, in the first batch of amendments to the Senate Republican tax bill Wednesday night, trying to raise the alarm about how the bill would affect Obamacare by repealing its individual mandate. “This tax bill is now officially a healthcare bill,” Ron Wyden of Oregon, the ranking Democrat on the Senate…

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The Latest: Tax overhaul clears procedural hurdle in House

“A sweeping tax overhaul has cleared a procedural hurdle in the House” reports thebusinessjournal.com. published on November 15, 2017 – 12:27 PM Written by Associated Press (AP) — The Latest on the Republican tax overhaul legislation (all times local): 2:15 p.m.Hatch said that’s a “terribly regressive tax that imposes harsh burdens on low- and middle-income taxpayers.” His panel started a third day of work Wednesday on the tax overhaul legislation.Senate Republicans showed Tuesday they’re intent on scrapping the Affordable Care Act’s insurance mandate, and the idea was endorsed by scores…

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