The London insurance market’s electronic trading platform, PPL Next Gen, has finally been opened for placements to the entire market. This comes after a four-week period of limited access, during which market firms completed training and preparation activities. The platform was also tested during this time to ensure that any “teething issues” were resolved before it was extended to the
For millions of American workers, working overtime has become a regular part of their workweek, but many of those workers may not be receiving the overtime pay they’re entitled to. To address this issue, House and Senate Democrats have reintroduced the Restoring Overtime Pay Act, a piece of legislation that expands overtime pay eligibility to more salaried workers. In this
Earlier this week, the Australian Federal Government introduced the Fair Work Legislation (Protecting Worker Entitlements) Bill 2023 (Cth) into the Parliament of Australia. The proposed reforms aim to protect worker entitlements, including unpaid parental leave (UPL) entitlements and superannuation entitlements, and ensure that migrant workers are protected under the Fair Work Act 2009 (FW Act), regardless of their immigration status.
Risk management has always been at the heart of the insurance industry. Insurers have been experts in measuring and mitigating risks, providing financial protection to individuals and businesses in case the worst-case scenario occurs. However, with the rapid pace of technological change, traditional risk management methods may no longer be sufficient to address new and emerging risks. As such, the
In 1993, the United States government enacted the Family and Medical Leave Act (FMLA). This federal law requires employers to provide eligible employees with up to 12 weeks of unpaid, job-protected leave per year for specific family or medical reasons. However, not all employers are subject to the FMLA’s provisions. In this article, we will explore the criteria for an
“The resilient insurance sector demonstrates its importance in the fight against climate change,” says Rory Yates from EIS. As the world faces unprecedented economic uncertainty and environmental challenges, the insurance industry is proving to be resilient and increasingly vital in the fight against climate change. EIS Group, the company behind a cloud-native, API-first digital insurance platform, is empowering insurers to
In recent years, severe weather events have become increasingly frequent, causing significant loss of life and property damage. Insurance companies are tasked with responding quickly and efficiently to weather-related claims. It is essential for them to gather information on the size, scope, extent, and potential impacts of severe weather events so that they can respond promptly. To that end, Amica
Layoffs have become a common occurrence in many companies, with big names like Accenture, Amazon, and Meta all making significant workforce cutbacks in recent times. All too often, however, companies opt to use a less direct approach known as “backdoor layoffs” to reduce their workforce. Workers are faced with new duties, reduced hours, or other changes in their work conditions
In recent years, there has been growing recognition of the problem of discrimination based on body weight and height. In response to this issue, lawmakers in New York City have proposed new legislation that seeks to prevent discrimination based on these factors. The proposed bill would offer legal protection to individuals based on their body size in areas such as
Insurance technology provider AdvantageGo and insurtech solutions provider Zywave have announced a new strategic alliance aimed at improving underwriter decision-making. The focus of the alliance is on integrating Zywave’s ClarionDoor and AdvantageGo’s Underwriting Workbench. With a rapidly changing insurance landscape, the integration is timely and necessary. Today, insurance customers demand speed, accuracy, and transparency in the underwriting process. By combining
Natural disasters have been wreaking havoc worldwide, causing billions of dollars in property damage. The insurance industry, meanwhile, has been feeling the strain of increased claims due to the rising frequency and severity of natural disasters. Swiss Re, a leading reinsurer, has released a report detailing the impact of natural disasters on the global economy and insurance industry in 2021.
Munich Re Life US and insurtech platform Paperless Solutions Group (PSG) have teamed up to develop a new combined risk assessment and e-application solution for life insurance carriers. The new platform is set to transform the life insurance industry by allowing insurers to underwrite new policies with greater accuracy, speed, and scalability than ever before. Features of the combined solution
