Free Republic

The life insurance industry is likely to post a 200-300% increase in claims this year, hurting the profitability of most insurers.A third Covid-19 wave could potentially lead to a spike in life insurance claims, directly affecting insurer's solvency margins and profits.People now have a much better understanding of the need for financial protection against life’s uncertainties. Thus, despite two Covid-19 waves, premium growth for life insurers remains on a strong trajectory. Number of policies for all insurers has also grown by a robust 10% in FY22 till date. Private life insurers reported robust growth of 34% and 28% YoY in...

Culinary Workers Union Local 226 is pushing about a dozen of its employers to contribute more money to its health insurance fund to cover rising Obamacare costs. Currently, employers pay 100% of the premiums. The union, which is in contract negotiations, wants to keep it that way. But the spike Obamacare-related expenses could make it tougher to convince employers to pony up more money. Union workers picketed outside the Stratosphere over the weekend, ahead of a March 20 vote that would give the union the right to call a strike. At issue are Obamacare fees and mandates that have greatly...