News 

Bernie Sanders pushes lie that people will be able to keep their doctors under his healthcare plan

“Bernie Sanders, I-Vt., is pushing the lie that under his socialized health insurance program, people who lose their private insurance will keep their doctors and hospitals if they like them” reports washingtonexaminer.com. There’s no way that Sanders can guarantee that every doctor and hospital on every insurance plan will participate in his government-run program.”What happens to the 180 million people in the private insurance market?”.  Source: washingtonexaminer.com

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Crypto News 

Lloyd’s of London Provides Insurance for BitGo Crypto Assets

“Crypto wallet BitGo has come up with a new offering that allows its users to cover up to $100 million worth of their digital assets held in their accounts with the blockchain security firm” writes Aziz Abdel-qader for financemagnates.com. While traditional institutions are shying away from cryptocurrencies and related assets, BitGo obtained its insurance coverage from the prestigious Lloyd’s of London, one of the oldest insurance agencies in the world, with centuries of experience in this industry. “We have been working hard to tailor a bespoke insurance product for BitGo,…

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Crypto News 

Crypto Financial Services Firm to Offer Crypto Insurance Through Lloyd’s of London

“Blockchain security firm and crypto wallet service BitGo has revealed plans to offer crypto insurance through Lloyd’s of London, according to a press release on Feb. 19” writes Helen Partz for cointelegraph.com. BitGo Business Wallet clients will be able to purchase theft insurance and key recovery service called Lost Key Cover through Digital Asset Services, an insurance provider operating under the purview of the Financial Conduct Authority (FCA), the United Kingdom’s financial services regulator.BitGo Business Wallet clients will be able to acquire insurance for their digital assets held on BitGo’s…

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GBP News 

Aviva, NatWest to join ‘Brexodus’ of business to EU

“Aviva was among the last of the big insurers to secure court approval for shifting chunks of life, general, property, casualty and motor insurance policies to EU hubs” reports businessinsider.com. It had previously secured court approval to move around 1 billion pounds in general insurance assets.Among banks, Britain’s Barclays secured court approval last month to move 190 billion euros in assets to a Dublin subsidiary.The High Court in London approved the transfer of policies after a hearing on Aviva’s application last week to move life insurance assets.Most of the policies…

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News 

Japan’s Banking, Insurance Markets Link SMBs To US Trade Via Amazon

“Tokio Marine will link small businesses with insurance to protect against the risk of product damaged during shipment or storage, or consumer lawsuits” reports pymnts.com. According to reports, small businesses in Japan struggle to overcome barriers like the high cost of logistics, or insurance costs to protect against scenarios like consumer lawsuits.Reports added that the companies may consider expanding their venture into other cross-border markets, depending on the success of the initiative with U.S. trade. Source: pymnts.com

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News 

Cyberattacks On Track To Lead Corporate Insurance Claims: Study

“That means fire and explosions accounted for nearly one-quarter of all corporate insurance claims filed between 2013 and 2018” reports pymnts.com. Fourteen percent of the value of corporate insurance claims were linked to aviation collisions and crashes.Despite the focus on cyber protection, however, a new report from insurance firm Allianz Global Corporate & Specialty said an unexpected category makes up the most popular type of claim filed by corporate customers of insurance products today.In analyzing 470,000 corporate insurance claims across 206 countries, totaling $66.5 billion in payouts, Allianz found in…

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News 

bought iCracked

“Through its subsidiary SquareTrade, the insurance giant bought iCracked, one of the largest independent smartphone repair companies in the country” reports vice.com. Allstate, one of the largest insurance companies in the United States, just made a curious purchase.Allstate, the fourth-largest insurance company in the country, is an ally the movement is happy to have. Source: vice.com

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News 

Deloitte Japan fined $2 million for auditor-independence violations

“Deloitte Japan, Amano, and Itagaki consented to the SEC’s order without admitting or denying the findings. and Deloitte Japan agreed to pay $2 million in monetary sanctions and be censured” writes Francine Mckenna for marketwatch.com. According to the SEC’s order, the account balances exceeded depositary insurance limits in violation of the SEC audit independence rules.Under the SEC’s rules, accountants are not considered to be independent if they maintain bank accounts with an audit client with balances greater than FDIC or similar depositary insurance limits. Source: marketwatch.com

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News 

SEC fines Deloitte Japan $2 million for auditor independence violations

“Deloitte Japan, Amano, and Itagaki consented to the SEC’s order without admitting or denying the findings. and Deloitte Japan agreed to pay $2 million in monetary sanctions and be censured” writes Francine Mckenna for marketwatch.com. According to the SEC’s order, the account balances exceeded depositary insurance limits in violation of the SEC audit independence rules.Under the SEC’s rules, accountants are not considered to be independent if they maintain bank accounts with an audit client with balances greater than FDIC or similar depositary insurance limits. Source: marketwatch.com

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News Stocks 

Investors taking stock of whether AIG will hit profit target

“In December, Duperreault said that AIG expected to enter 2019 “with a slight underwriting profit” in its general insurance unit” reports businessinsider.com. A slight underwriting profit for AIG’s general insurance unit would help fuel an 8 percent adjusted return on equity “going into 2019,” Duperreault said in December.His most critical task is the return to profitability of underwriting of risks, a key measure of an insurer’s performance that AIG has not achieved since 2007. Source: businessinsider.com

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