A severe coronavirus pandemic in the U.S. could cost the nation’s health insurers roughly $90 billion in medical claims, leading to losses that could force some insurers to tap into reserves to pay those costs, according to a new analysis from S&P Global analysts.
The panic shopping for coronavirus planning doesn’t end with food, water and toilet paper. Some consumers are also panic shopping for life insurance. In the face of widespread fears about infections and quarantines, many Americans are getting their financial houses in order.
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy - a sharp rise in payouts at a time of big investment losses.
Alma Quiroz is a housekeeper at the Edgewater Hotel in Seattle, one of the country’s biggest hotspots for COVID-19, commonly known as the coronavirus. Her work schedule has recently been cut from 40 hours per week to just eight hours. With a reduced schedule comes the threat that she will also lose health insurance benefits from working at least 80 hours each month.
While most businesses brace for an economic collapse caused by coronavirus, the outbreak has prompted creation of a new service offering by the nation’s largest claims administrator.
Nearly half of insured American adults say they’re not confident they could handle costs associated with coronavirus treatment, according to a recent Healthcare.com and YouGov poll. The survey polled nearly 2,500 Americans ages 18 and over.
I don’t know about you, but I am sick of COVID-19, commonly called the Coronavirus. I know that is different than being sick FROM the Coronavirus, but I am weary from the onslaught of information and panic related to the disease.
A major health insurance trade group is pledging its member plans will cover doctor-ordered testing for the coronavirus amid rising confusion and concern about who will bear the cost of care in an outbreak.
Tornadoes killed at least 19 people in Tennessee as violent storms roared through the state late Monday and early Tuesday morning, part of a sprawling system that threatened more severe weather Tuesday all the way from Texas to North Carolina, the Storm Prediction Center said.
Insurance flood claims have a much broader societal impact than on just the property and casualty insurance industry alone — which is another reason why it is critical to start adopting flood mitigation and prevention measures now, a climate expert told a recent conference.
On the morning of Jan. 26, 2020, basketball legend Kobe Bryant and eight other individuals, including his 13-year-old daughter, were tragically killed in a helicopter crash. With the investigation into the cause of the crash underway, thoughts turn to how this incident was insured. Would all the victims have life insurance coverage? Could the helicopter operating company or the helicopter manufacturer be liable in some way?
South Florida insurance companies and large hospital chains recorded healthy profits and acquired rival companies in an attempt to grow bigger in 2018, a new analysis found, accelerating a race to gain leverage in healthcare pricing negotiations.
More than 26 million Americans have voluntarily submitted their DNA for analysis, but a loophole in federal law could allow some insurance companies to get the genetic information.
