Insurers and reinsurers face claims from the crashes relating to hull and product liability that could amount to more than $2 billion, a large sum in a relatively small insurance sector, Willis Re International chair James Vickers told Reuters.

Aviation underwriters are also suffering from lower premiums due to worldwide lockdowns and travel bans, as insurance contracts are often negotiated based on the amount of time planes spend in the air.

S. African insurers may fund vaccines for broader population

Jan 5, 2021

Legislation has been amended to allow the companies to fund shots for people who don’t have medical insurance and talks are now focused on the number of those who may benefit, said Stavros Nicolaou, head of the Health Workgroup for B4SA, a grouping of South Africa’s biggest business organizations. In addition to medical insurers, companies such as miners may contribute funds so their workers can be covered, he said.

Insurer Centene to buy Magellan in $2.2 billion mental health push

Jan 5, 2021

The move by Centene to expand mental health support comes as more than two out of five Americans are struggling with mental or behavioral health issues associated with the pandemic, the company said.
“I was thinking about it long before the pandemic, the pandemic just emphasized it,” said Centene Chairman, President and Chief Executive Michael Neidorff.
Centene’s patients, after being diagnosed with a serious illness, such as cancer, would benefit from having increased access to mental health care, Neidorff added.

Brazil’s Braskem settles lawsuits over sinking city for $1.75 bln

Jan 5, 2021

A federal study found that Braskem’s salt mines were the cause of cracks that destabilized homes, although Braskem had previously said that the study is flawed. The damages have affected more than 9,000 homes and some 17,000 residents must be relocated.

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