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China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon

China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon


Ali Baba (BABA) was up 1.9% on Tuesday, following a 5% gain on Monday. JD.com (J.D.) climbed 3%, after rising 4.7% the previous day.

Other tech shares have also gained sharply since Monday. TikTok’s rival Kuaishou advanced 1.2% on Tuesday, adding to a 5.1% increase in the prior session. Food delivery service Meituan increased 0.5% on Tuesday and is up 10% so far this week.

The gains followed a strong session for Chinese stocks on Wall Street on Monday, when the Nasdaq Golden Dragon China Index soared 5.4%.

Didi was the top gainer in New York, jumping as much as 67%, after The Wall Street Journal reported that Beijing’s cybersecurity review of the ride-hailing giant was about to wrap up. The move would allow Didi to return to app stores in mainland China, potentially as soon as this week.

“The headline sparked speculation that Beijing was ending the crackdown on the platform economy to support growth given mounting downside pressure on China growth,” said Ken Cheung, chief Asian foreign exchange strategist for Mizuho Bank.

However, it would take time to repair business confidence, he added.

China’s economic outlook has deteriorated rapidly in recent months amid widespread Covid-related lockdowns. Consumer spending and factory output both shrank sharply in April, while unemployment surged to the highest level since the initial coronavirus outbreak in early 2020.

Concerned about the worsening outlook, Beijing has reported that it will relax its yearlong crackdown on the tech sector — long a key growth driver and the main source of well-paid employment.

In recent weeks, top government officials have tried to lift the spirits of the internet industry and pledged to support tech companies that seek to list in overseas markets.
Authorities have also unveiled a new package of 33 stimulus measures to shore up growth post Covid, including tens of billions of dollars of additional tax cuts and infrastructure spending.

Key cities like Beijing and Shanghai have gradually reopened and lifted Covid restrictions, with daily life starting to return to normal.

Chinese equities are pricing in “the worst is over” as China reopens its economy, said Jeffrey Halley, senior market analyst for Oanda.

The benchmark Shanghai Composite (SHCOMP) edged up 0.2% on Tuesday, poised for a third straight day of gains. It rose 1.3% on Monday. The large-cap CSI 300 was up 0.4%, following a 1.9% advance on Monday.
Hong Kong’s benchmark Hang Seng Index (HSI)meanwhile, retreated slightly after rising 2.7% in the previous day.

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Future of emergency contraception in US complicated by misinformation

Future of emergency contraception in US complicated by misinformation


At a moment when half of US states stand poised to outlaw or sharply curtail abortion services, the last-ditch pill for women aiming to stave off an unwanted pregnancy rests in the unlikely stewardship of two private equity firms whose varied investment portfolios include Italian foods, vineyard management and children’s cough medicine.

Foundation Consumer Healthcare, the company owned by Kelso and Juggernaut that sells Plan B, has managed to aggressively market the product while staying under the radar of anti-abortion activists and Republican lawmakers who vilify it as another form of abortion.

But the company’s stewardship — and women’s continued access to Plan B — have become matters of urgent concern as the religious belief that life begins before a fertilized egg implants in the uterus gains currency as a legitimate legal standard among Republican lawmakers in state capitals and in Congress . If the Supreme Court cements a leaked draft decision to overturn Roe v. Wade without explicitly deferring to the medical standard of when a pregnancy begins — which is after implantation — Republican-controlled legislatures could declare Plan B and intrauterine devices, or IUDs, to be abortifacients.

States that enact legislation to confer “personhood rights” to fertilized eggs, embryos and fetuses would open a new frontier in laws that dictate the options available for women who are pregnant and those who seek not to become pregnant. The states considering such a move include Alabama, Missouri and Kansas.

Complicating that political battle, women’s health advocates say, is that Foundation Consumer Healthcare and the FDA have failed to correct outdated wording on the product’s label that has led to rampant misinformation about how Plan B works.

The language in question, stated as part of Plan B’s “drug facts,” warns that the pill could prevent “attachment of a fertilized egg to the uterus.” But numerous studies have shown that is not the mechanism of action for Plan B, a hormonal medication that delays ovulation and can prevent sperm from fertilizing an egg. Research also shows Plan B does not harm an existing pregnancy, according to the American College of Obstetricians and Gynecologists.

That packaging language has been cited, nevertheless, to justify regulations in at least nine states that exclude Plan B from government family planning programs and contraception coverage mandates or that allow pharmacists to refuse to sell Plan B on moral grounds.

The US Supreme Court’s 2014 decision in Burwell v. Hobby Lobby Stores cited the FDA’s web page about Plan B in ruling that requiring family-owned corporations with religious convictions to pay for health insurance coverage for contraception violated a federal law protecting religious freedom.

Similarly, a bill before Congress that would require Department of Veterans Affairs facilities to cover the cost of all forms of contraception for female veterans has been stalled by opposition to the inclusion of Plan B. “The Plan B pill kills a baby in the womb once a woman is already pregnant,” US Rep. Marjorie Taylor Greene (R-Ga.) erroneously stated during a floor debate. “The VA should not be paying for abortion.”

European authorities required the language to be dropped from Plan B packaging sold in those countries in 2015, and it has been rejected by the International Federation of Gynecology and Obstetrics and American medical associations.

Making a similar label change in the US would require Foundation Consumer Healthcare to petition the FDA — an action that women’s health advocates say is long overdue.

“The FDA isn’t going to change it unless the companies come in with the data and ask for a label change,” said Susan Wood, a professor of health policy at George Washington University and former director of women’s health at the FDA. A label update would be “straightforward because there is human data that shows that it works prior to ovulation.”

“It’s the company’s responsibility,” she added.

Foundation Consumer Healthcare, in an emailed response to a list of questions from KHN, declined an interview and said it would not comment on sales figures, discussions with the FDA or investment plans.

“The mission of FCH is and always has been increasing the education and availability of Plan B One-Step® emergency contraception for women across the country,” the company wrote. “We work with a variety of partners to ensure everyone understands how the product works and when it should be taken, and with retailers to make sure the product is available in all major retail stores.”

The FDA also declined to comment, citing regulations that protect “the confidentiality of commercial information.”

Emboldened by the Supreme Court’s leaked draft decision on Roe and its earlier decision to allow Texas’ six-week abortion ban to take effect, lawmakers in multiple Republican-led states already are openly considering bans on emergency contraception and IUDs.

Plan B’s labeling issue dates to its inception as an over-the-counter pill in 2006. When the drug company that owned Plan B at the time, Barr Pharmaceuticals, sought FDA permission to sell it over-the-counter, the effort faced opposition from anti-abortion forces, according to historical accounts, as well as interviews with people involved. Those forces included a member of the scientific advisory panel reviewing the application. Dr. Joseph Stanford, a Mormon physician who believed life begins at fertilization, argued that a remote possibility existed that Plan B could prevent implantation of a fertilized egg.

Despite having no scientific evidence to support that claim, the company agreed to list the post-fertilization mechanism on the packaging as a way of getting the application approved.

That seemingly innocuous capitulation has paid dividends for abortion opponents, codifying in official government documents a mechanism of action that would be used to blur the line between contraception and abortion, said Christopher ChoGlueck, an assistant professor of ethics at New Mexico Tech who has documented the history of emergency contraception.

Foundation Consumer Healthcare’s investment in Plan B is difficult to assess: Private equity firms are required to disclose only limited information, obscuring their operations and holdings.

Black therapists are struggling to be seen on TikTok.  They're forming their own communities instead

But drug industry analysts say the business is clearly profitable. Emergency contraception is relatively inexpensive to make, said Samantha Miller, co-CEO of Cadence Health, a biopharmaceutical company developing over-the-counter birth control pills. And the customers are largely young women who buy the pill over the counter even if they — or their parents — have health insurance.

Between 2013 and 2015, 22% of women ages 15 to 44 who had ever had sex reported having used emergency contraception pills at least once, an increase from 4% in 2002, according to a KFF analysis of US Centers for Disease Control and Prevention survey date.

Private equity firms typically raise funds from institutional investors, often with a focus on generating short-term revenue. When Kelso and Juggernaut Capital acquired Plan B in 2017, the campaign to end federal abortion rights, cresting after decades of legal challenges, would have made the purchase of the nation’s most popular emergency contraception a tantalizing option. “Private equity senses a possibility wherever vulnerable people are involved,” said Eileen Appelbaum, co-director of the Center for Economic and Policy Research.

Interestingly, one of the biggest investors in two Kelso funds invested in Foundation Consumer products is the Teachers’ Retirement System of Louisiana, one of 14 states with trigger laws that would ban abortion if Roe falls.
Other investors from anti-abortion states include the University of Houston System endowment and the Houston Police Officers’ Pension System.

“With customers buying up Plan B, this could be very good for their investors regardless of their level of comfort profiting off of Plan B,” said Eileen O’Grady, of the Private Equity Stakeholder Project, who researches the tangled holdings of private equity firms.

Miller and other industry experts say Foundation can maintain its $45 average price tag for Plan B because of its market dominance. Lower-priced generic emergency contraception is available, largely online, said Dima Qato, associate professor of clinical pharmacy at the University of Southern California. But Plan B’s distribution arrangements with national pharmacies, Walmart, and Target have largely locked out competitors.

“People don’t use the generics, and not many places carry them,” Qato said. “You want to make sure it’s effective. There is a preference for the brand.”

Still, if a Supreme Court decision permits states to criminalize abortion and certain contraceptives, Kelso and Juggernaut’s investment would certainly be imperiled. States oversee pharmacy laws, leaving ample room for legislatures to allow pharmacies to refuse to dispense emergency contraception.

“Texas and other states will claim this is similar to an abortion pill,” Qato said, “and they will say you can’t sell it.”

KHN (Kaiser Health News) is a national newsroom that produces in-depth journalism about health issues. Together with Policy Analysis and Polling, KHN is one of the three major operating programs at KFF (Kaiser Family Foundation). KFF is an endowed nonprofit organization providing information on health issues to the nation.

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What Insurance Coverage Do Drivers Need in Iowa City?

Image of a car accident


One of the reasons that car insurance exists is that the civil courts have allowed laws against negligent drivers for compensation.


Iowa City, IA – Drivers in each state will need some kind of insurance coverage to operate their cars on the government’s roads legally. This is mostly done to protect the public from driver’s errors or mistakes while on the road. If a driver causes damage or injuries, it is likely that they will be sued and their insurance company will have to pay out a settlement to cover the losses after the accident. People who have been involved in an accident in the Iowa City area should contact their attorney for information about the insurance claim process and lawsuits.

Insurance laws for Iowa City drivers

Iowa state law applies to all drivers in Iowa City and other cities. Local law does not change auto insurance requirements.

In Iowa all drivers need liability coverage to pay for any damage or injuries that they cause. This includes at least $20,000 worth of bodily injury or death coverage for one person per accident, at least $40,000 worth of coverage for car accidents where two or more people are hurt or killed, and at least $15,000 in coverage for property damage. Commercial insurance providers in the state will all have at least these minimum requirements built into the policies that they sell.

Lawsuits against negligent drivers

Plain view: Man opening bottle behind the wheel; image by energe.com, via Pexels.com.

One of the reasons that car insurance exists is that the civil courts have allowed laws against negligent drivers for compensation. This means that the driver who caused the damage will have to pay for it if they are found to be at fault. Realistically, drivers may not be able to cover thousands of dollars worth of damage out of their own money, so the insurance company will pay out these losses for those who have been paying into their coverage. This system helps ensure that property owners and victims will not be stuck fronting the costs of damage caused by bad drivers.

This means that people who have been affected by a negligent driver should get legal help. A civil injury case is usually the only way to get a settlement that will cover medical treatment, lost wages, and other kinds of damages. The victim may also receive compensation for non-economic losses related to their trauma and physical pain. In cases involving reckless or malicious behavior, there may be punitive damages awarded against the defendant.

More information about filing a lawsuit

There are attorneys who help people after all kinds of accidents in the Iowa City area. Eells and Tronvold Law Offices is a firm that is available to provide guidance during the course of a lawsuit.



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Democrat Janice Laws Robinson describes plans to hold insurers accountable during runoff debate |

Democrat Janice Laws Robinson describes plans to hold insurers accountable during runoff debate |


Democrat Janice Laws Robinson at the insurance commissioner runoff debate. Her opponent, Raphael Baker, did not attend.

ATLANTA – Democrat Janice Laws Robinson described her plans to hold insurance companies accountable during an Atlanta Press Club runoff debate Monday.

Robinson’s opponent, Raphael Baker, did not attend the debate.

Though Robinson earned far more votes than Baker in the May primary – 48.7% for Robinson compared to 33% for Baker – the race was pushed to a runoff because neither candidate passed the 50% mark.

Robinson said that she would appoint a special deputy insurance commissioner to focus solely on health insurance and especially mental health care. The state legislature recently passed a new law that will require most Georgia insurers to treat mental and physical health equally.

“We deserve to have parity in mental health,” she said. “This is so important it deserves its own accountability.”

Robinson also said she would act to reduce Georgia car insurance premiums, which are among the highest in the nation.

Robinson criticized Baker for not appearing for the debate.

She also criticized incumbent Republican Insurance Commissioner John King, saying he had done little to tackle high automobile insurance rates.

Robinson said she would focus on rural firefighting resources, noting that Georgia is number nine in the country for wildfires.

Robinson said she could win the general election in November, pointing out that she nearly beat the prior insurance commissioner, losing by only 3 percentage points in 2018.

She lost to Jim Beck, who was subsequently removed from office after conviction on multiple fraud charges, leading Gov. Brian Kemp to add King to the post.

“I will bring integrity back to this office,” said Robinson. She said that in her two decades in the insurance profession, she had never been cited with an infraction.

Robinson said that the insurance commission’s recent $5 million fine on Anthem/Blue Cross Blue Shield was just a small first step.

“We need to make sure we are hitting them where it actually hurts,” she said. “I will not tolerate them treating our families unfairly. … I will continue to fine insurance companies that discriminate and do not honor your claims.”

The winner of the June 21 runoff will face King in November.



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French car insurance group calls for end to green windscreen sticker

French car insurance group calls for end to green windscreen sticker


A federation of 247 insurance firms is calling for an end to the green card insurance document and its tear-off thumbnail windscreen stamp.

France Assureurs has been in discussions with the government in recent weeks.

It says it is more efficient for police to consult the online Assured Vehicle File (FVA) to see if a car is insured, rather than check the thumbnail and ask a driver for their green insurance document.

These documents are usually sent annually to policy-holders.

The stamp is displayed in a holder in the corner of car and lorry windscreens or stuck to motorbikes and scooters.

Read more: Windscreen insurance stickers could become a thing of the past in France

Drivers forget to replace their thumbnail

France Assureurs said in an open letter to the government: “The fight against non-insured drivers and cars on the roads will be more efficient if it is based on the digital FVA, which has been operational since 2019.”

The FVA allows an officer to check, with a mobile or tablet, the up-to-date insurance details of any vehicle.

The federation says it is much more reliable than using thumbnailswhich drivers sometimes forget to replace or remove in a timely way.

Drivers face a €35 fine if they do not have the stamp and another €35 fine if they cannot produce the full green card.

Savings predicted in printing and postage

The ministries of transport, the economy and interior have held talks with the federation and the Economy Ministry has described them as “productive”, saying they helped to clarify a number of points.

No decision has been taken yet.

However, a France Assureurs spokesman said the trade body is confident substantial the measure, which will mean savings in printing and post fees, would be viewed favorably.

Police complain that technology makes it easy for drivers to falsify a green card.

Accidents involving uninsured drivers impact premiums

The number of drivers without insurance has been an increasing concern.

Figures for 2020 show 30,000 people were victims of accidents where a driver involved did not have insurance.

The cost of medical treatment and repairs in 2020 was €106.3 million, a 10% rise since 2015.

Most of it came from a fund that uses obligatory contributions from insurers, which are reflected in policies.

Men under 35 were found to be most likely not to have insurance, and Seine-Saint-Denis, Val-de-Marne and Bouches-du-Rhone were the departments with the highest number of uninsured drivers.

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It’s been a rough year for social media stocks. Blame TikTok

Sheryl Sandberg is out at Meta. She spoke to CNN about Facebook's struggles with misinformation in 2019


Shares of Facebook and Instagram owner Meta Platforms (FB) have plunged more than 40% so far in 2022. Investors are concerned about CEO Mark Zuckerberg’s plans to transform the company into a metaverse player … whatever that means. The ticker symbol is even changing from FB to META on Thursday.
Snapchat (SNAP) is reeling following a shocker of an earnings warning a few weeks ago. The stock has plummeted nearly 70% this year. pinterest (PINS) has lost roughly half its value. Even YouTube and Google owner Alphabet (GOOGL) has stumbled. The stock is down about 20%.

It seems that investors have finally come to the realization that social media stocks are essentially just media stocks.

This means that despite their higher growth rates, social media companies are still subject to fickle shifts in advertising budgets and user behavior, just like traditional media firms such as television networks and newspapers. Categorizing social media platforms as tech stocks may be a misnomer.

Social media companies face other challenges that are also hurting their share prices this year. Tea Global X Social Media ETF (SOCL)which owns a basket of social media stocks from around the globe, is down more than 30%.
Change to Apple’s (AAPL) privacy tracking features in its iOS operating system have wreaked havoc on the entire social media industry.

Meta warned in February of a potential $10 billion hit to its revenue and Zuckerberg said during the company’s first quarter earnings call with analysts in late April that the iOS changes are “a meaningful headwind” for Meta and its rivals.

The rise of TikTok is hurting social media stocks

Competition is an issue, too. Social media companies live and die by their user growth metrics. Privately held TikTok now has all the momentum, particularly with the younger Millennial and Gen Z subscribers that advertisers crave.

Morningstar analyst Ali Mogharabi said in a report following Alphabet’s first quarter earnings in late April that one reason YouTube’s ad revenue growth “was a bit disappointing,” was in part due to “increased competition from Meta, Snap, Twitter, and Pinterest, plus newcomers like TikTok.”

Big brands are increasingly embracing TikTok as well, which could be to the detriment of other social media firms.

“We continue to focus on social platforms relevant to the younger Gen Z consumer,” said Stefan Larsson, CEO of Calvin Klein and Tommy Hilfiger owner HPV (HPV), on its most recent earnings call. Larsson noted that an #onlyinmycalvins hashtag challenge on TikTok generated “significant viewership” across 10 countries.
Fabrizio Freda, CEO of makeup giant Estee Lauder (EL)also noted on its most recent earnings call that a new brand of mascara called MACStack targeted specifically for Gen Z and Millennial consumers “went viral on TikTok.”

Freda said the company quickly amassed more than 153 million views for the product on the video sharing platform and that sales “far exceeded our expectations in the quarter.”

Madison Avenue advertising agencies have taken notice too.

“TikTok is clearly showing up and making a really big impact,” Philippe Krakowsky, CEO of interpublic (IPG)a marketing firm that owns the McCann advertising agency, said on its latest earnings call in April.

In other words, if the hit TV show “Mad Men” was remade for 2022, modern day Don Drapers would probably be working mainly on viral TikTok campaigns for their clients. That’s not good news for Meta, Snapchat and Twitter.

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New Drivers’ Car Insurance Market 2022 – InsuranceNewsNet

New Drivers' Car Insurance Market 2022 – InsuranceNewsNet


New JerseyNJ — (SBWIRE) — 06/06/2022 — New Drivers’ Car Insurance Market, Global Outlook and Forecast 2022-2028 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the New Drivers’ Car Insurance Market. Some of the key players profiled in the study are AXA, Allstate Insurance, Berkshire Hathaway, AllianzAIG, Generali, State Farm InsuranceMunich Reinsurance, Metlife, Nippon Life InsurancePingan, PICC & China Life Insurance.

Get free access to sample report @ https://www.htfmarketreport.com/sample-report/3924766-new-drivers-car-insurance-market

New Drivers’ Car Insurance Market Overview:

The study provides comprehensive outlook vital to keep market knowledge up to date segmented by Insurance Intermediaries, Insurance CompanyBank, Insurance Broker & Others, , Theft Insurance, Fire Insurance & Others and 18+ countries across the globe along with insights on emerging & major players. If you want to analyze different companies involved in the New Drivers’ Car Insurance industry according to your targeted objective or geography we offer customization according to requirements.

New Drivers’ Car Insurance Market: Demand Analysis & Opportunity Outlook 2026

New Drivers’ Car Insurance research study defines market size of various segments & countries by historical years and forecast the values ​​for next 6 years. The report is assembled to include qualitative and quantitative elements of New Drivers’ Car Insurance industry including: market share, market size (value and volume 2017-2021, and forecast to 2027) that admires each country concerned in the competitive marketplace. Further, the study also caters and provides in-depth statistics about the crucial elements of New Drivers’ Car Insurance which includes drivers & restraining factors that helps estimate future growth outlook of the market.

The segments and subsection of New Drivers’ Car Insurance market is shown below:

The Study is segmented by following Product/Service Type: , Theft Insurance, Fire Insurance & Others

Major applications/end-users industry are as follows: Insurance Intermediaries, Insurance CompanyBank, Insurance Broker & Others

Some of the key players involved in the Market are: AXA, Allstate Insurance, Berkshire Hathaway, AllianzAIG, Generali, State Farm InsuranceMunich Reinsurance, Metlife, Nippon Life InsurancePing An, PICC & China Life Insurance

Inquire for customization in Report @ https://www.htfmarketreport.com/enquiry-before-buy/3924766-new-drivers-car-insurance-market

Important years considered in the New Drivers’ Car Insurance study:
Historical year – 2017-2021; Base year – 2021; Forecast period** – 2022 to 2027 [** unless otherwise stated]

If opting for the Global version of New Drivers’ Car Insurance Market; then below country analysis would be included:
North America (USA, Canada and Mexico City)
Europe (Germany, Francetea United Kingdom, netherlands, ItalyNordic Nations, Spain, Switzerland and Rest of Europe)
Asia Pacific (China, Japan, Australia, New Zealand, south korea, India, Southeast Asia and Rest of APAC)
South-America (Brazil, Argentina, chile, ColumbiaRest of countries etc.)
Middle East and Africa (saudi arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South AfricaRest of MEA)

Buy New Drivers’ Car Insurance research report @ https://www.htfmarketreport.com/buy-now?format=1&report=3924766

Key Questions Answered with this Study
1) What makes New Drivers’ Car Insurance Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Territory that may see steep rise in CAGR & YOY growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in New Drivers’ Car Insurance market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of New Drivers’ Car Insurance in next few years?
8) What is the impact analysis of various factors in the New Drivers’ Car Insurance market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in New Drivers’ Car Insurance Market?

Browse Executive Summary and Complete Table of Content @ https://www.htfmarketreport.com/reports/3924766-new-drivers-car-insurance-market

There are 15 Chapters to display the New Drivers’ Car Insurance Market
Chapter 1, Overview to describe Definition, Specifications and Classification of New Drivers’ Car Insurance market, Apps [Insurance Intermediaries, Insurance Company, Bank, Insurance Broker & Others]Market Segment by Types , Theft Insurance, Fire Insurance & Others;
Chapter 2, objective of the study.
Chapter 3, Research methodology, measures, assumptions and analytical tools
Chapter 4 and 5, New Drivers’ Car Insurance Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels, Value Chain Analysis
Chapter 6 and 7, to show the New Drivers’ Car Insurance Market Analysis, segmentation analysis, characteristics;
Chapter 8 and 9, to show Five forces (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 10 and 11, to show analysis by regional segmentation [North America, US, Canada, Mexico, Europe, Germany, France, U.K., Italy, Russia, Nordic Countries, Benelux, Rest of Europe, Asia, China, Japan, South Korea, Southeast Asia, India, Rest of Asia, South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Turkey, Israel, Saudi Arabia, UAE & Rest of Middle East & Africa], comparison, leading countries and opportunities; Customer Behavior
Chapter 12, to identify major decision framework accumulated through Industry experts and strategic decision makers;
Chapter 13 and 14, about competition landscape (classification and Market Ranking)
Chapter 15, deals with New Drivers’ Car Insurance Market sales channel, research findings and conclusion, appendix and data source.

Thanks for showing interest in New Drivers’ Car Insurance Industry Research Publication; you can also get individual chapter wise section or region wise report version like North AmericaLATAM, United StatesGCC, Southeast Asia, EuropeAPAC, United Kingdom, India gold China etc

About Author:
HTF Market Intelligence consulting is uniquely positioned empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist in decision making.

US contact: Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New JerseyUSA – 08837
Phone: +1 (206) 317 1218
[email protected]

For more information on this press release visit: http://www.sbwire.com/press-releases/new-drivers-car-insurance-market-may-see-a-big-move-allianz-aig-metlife-axa -1358144.htm

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Credit Card Travel Insurance: What to Know

Credit Card Travel Insurance: What to Know


What does credit card travel insurance cover? How does it work? And what are some credit cards that offer trip protection? Start to unravel the complexities in this beginner’s guide.

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HASFAR partners with CreditCards.com and may receive a commission from card issuers. This site does not include all financial companies or all available financial offers. Compensation may impact how an offer is presented. Our coverage is independent and objective, and has not been reviewed, approved, or endorsed by any of these entities. Opinions expressed here are entirely those of the AFAR editorial team.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.

Travel can be fun and exciting, but many things can go wrong on a trip. There are flight cancellations and delays, lost luggage, and even the dreadful reality of contracting COVID away from home. Investing in travel insurance can alleviate the fear of such situations. But sometimes protections offered by travel insurance companies are ones that you already get for free from your credit card.

You read correctly. Just by charging travel to your credit card, you may be entitled to coverage that you never knew you had. As with third-party travel insurance—and basically any insurance for that matter—so many terms and conditions apply, there are rules after rules, and COVID reimbursements are a tricky topic.

The subject of credit card travel insurance is very complicated—way too complicated for a single article—yet the basics are worth knowing before booking your next trip.

What is travel protection on a credit card?

Most—but not all—credit cards provide several implicit travel insurances as benefits for being a cardholder. These insurances usually kick in when charging travel to the credit card or using points for travel through a credit card’s loyalty program. Said travel insurances are collectively referred to as travel protections in credit card literature. Typically, when searching for the travel coverages your credit card provides, you will find them lumped under a banner or heading labeled “Travel Protections.”

What does your credit card travel insurance cover?

Some of the best travel credit cards provide travel insurance as part of their regular benefits. Some do not. Depending on the credit card, you may be entitled to some compensation under the following insurances:

  • Emergency Evacuation & Transportation: If you become ill on your trip and require medical evacuation and treatment
  • Trip Interruption and Cancellation: If you need to cancel or cut short your trip due to specific unforeseen circumstances
  • Emergency Medical and Dental Benefit: If you require emergency medical or dental services during a covered trip
  • Trip Accident Insurance: If you are severely injured, maimed, or–eek–die on your trip
  • Trip Delay: If your common carrier is delayed more than a specified number of hours
  • Delayed Baggage: If your bags arrive late, beyond a specified number of hours
  • Lost Baggage: If your bags are deemed lost for good
  • Rental Car Insurance: If you rent a car more than a specified number of miles away from your domicile and experience theft or damage to the rental car that you did not cause

Again, it’s important to note that not all cards with travel insurance include all these coverages. Each is different. Moreover, if you buy third party travel insuranceit may or may not include specific protections (and covered reasons) that you don’t already get with your credit card.

What credit cards come with travel insurance?

Remember those pamphlets that arrived in the mail when you received your credit card, the ones you threw in the recycling bin? Likely within that paperwork was a handy “Guide to Benefits” that detailed the travel insurances of your credit card. Thankfully, most of this information can still be retrieved online when logging into your credit card account or even doing a simple Google search.

In the most general sense, every credit card is unique in its benefits—and that includes travel insurances. Some cards like the Citi Premier® Cardwhich ranks best in class for extended warranty protection on shopping purchases and is great for earning points on travel, comes with zero travel protections. At the opposite end of the spectrum, Chase Sapphire Reserve® has the most comprehensive suite of travel protections, ranging from Medevac insurance to rental car insurance as primary coverage.

Below is a chart of six popular travel credit cards and the insurances they do and do not provide.

What coverage is provided by six popular travel credit cards.

Within each box of this chart lies more layers of complexity. Often, you are entitled to itemized coverages only under specific circumstances known as “covered reasons.” Moreover, several cards may offer the same protection, say “Trip Delay Protection,” but each may define a delay differently (ie, 6 hours vs. 12 hours) and then may cap reimbursements at different amounts. Similarly, while some rental car insurance policies like the Chase Sapphire Reserve offer primary coverage, others offer only secondary coverage (meaning, you’d need to go through your own regular car insurance first). On top of that, travel to specific countries may be excluded under some policies.

All this to say, read the fine print!

Where does COVID related coverage fit into credit card travel insurance?

To start, your credit card travel insurance is not an umbrella policy for COVID-related expenses. But you can find some COVID coverage within the Trip Cancellation & Interruption policies of select cards.

In the most general sense, if you decide to cancel your trip because of COVID (or civil unrest—another big topic nowadays), you will not be covered. Even the most generous of travel insurance-promoting credit cards, Chase Sapphire Reservestates in its Guide to Benefits that “your disinclination to travel due to an epidemic or pandemic” is not covered by its Trip Cancellation & Interruption policies.

However, should you get sick while traveling, some coverage may kick in. Again, this will require reading through the fine print of your specific credit card’s Guide to Benefits. Within the Trip Cancellation & Interruption policies of Chase Sapphire Reserveit states, “quarantine of you or your travel companion imposed by a physician or by a competent governmental authority having jurisdiction, due to health reasons,” is a covered event while the guide for The Platinum Card® from American Express (see rates and fees) states, “quarantine imposed by a physician for health reasons” is also a covered event. What may be covered (if and when documented properly) is any prepaid trip expense charged to the credit card that you are unable to fulfill due to your illness. That means things like changing your flight home or a refund for the part of your trip/hotel stay missed after testing positive and having to quarantine. That said, neither card will pay for your expenses to stay in a hotel to recover from COVID.

Takeaways

Credit card travel insurance is complicated, and policies differ by card. However, it’s worth deciphering your card’s coverages to know exactly what you’re entitled to as a cardholder before booking your next trip–and to avoid redundant third-party travel insurance.

While the offers mentioned above are accurate at the time of publication, they are subject to change at any time, and may have changed or may no longer be available.

>> Next: How Cancel for Any Reason Travel Insurance Can (and Can’t) Help You



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‘Too little, too late’ • St Pete Catalyst

'Too little, too late' • St Pete Catalyst


St. Petersburg Sen. Jeff Brandes believes the recently signed property insurance bill could mitigate many of Florida’s problems – if the Legislature passed it in 2019.

Brandes, long a vocal proponent for property insurance reform, led the calls for a special session to address the issue in April after lawmakers failed to agree on a bill during the regular session in March. The term-limited state senator got his wish as Gov. Ron DeSantis reconvened the Legislature and signed a new bill into law on May 26.

The governor called the bill “the most significant reforms to Florida’s homeowner’s insurance market in a generation” in a statement following the signing. However, many lawmakers from both sides of the aisle feel the legislation did not do enough to protect companies or lower premium costs.

“The problem is – and I said this during the debate – what we have, is Stage 4 cancer in the property insurance system,” Brandes told the Catalyst. “And we’re treating it with Stage 1 solutions.”

Brandes called the bill “too little, too late” and said it is not nearly enough to help the industry or consumers. He said the biggest challenge in Florida is fraudulent roof claims, and the solution is realigning incentives.

He said he pushed hard for companies to provide actual cash value rather than paying for the cost of a new roof. He explained that if someone totals their 2010 Toyota Corolla, their auto insurance does not offer the cash value of the latest model.

“If you have an insurance claim on a roof that’s 20 years old, the company will buy you a brand new roof, and many are forced to offer that kind of coverage,” said Brandes. “That changes the incentives.

“We would have a lot more car accidents, I guarantee, if your insurance company had to buy you a brand new car …”

WFLA reported that the same day the governor signed the reforms into law, Southern Fidelity Insurance Company notified agents it was suspending new business and renewals until they could ensure complete reinsurance coverage. Two other companies said they were limiting new business in the state last week.

Brandes said the incentive to file a claim and exchange an old roof for a new one is why Florida accounts for 80% of the nation’s property insurance litigation but only 8% of open claims.

The new bill moved quickly through the House and Senate with mostly bipartisan support. Lawmakers were anxious to get legislation – even as a first step – passed before the June 1 start of hurricane season. The new law creates a $2 billion Reinsurance to Assist Policyholders program to help companies mitigate risks.

The legislation also forbids companies from automatically denying coverage because of a roof’s age – if it is less than 15 years old. Brandes said that stipulation may seem consumer-friendly but will lead to insurers denying claims for other reasons.

“For example, age of home,” added Brandes. “That’s perfectly fine and completely allowed.”

Many companies, said Brandes, will have no choice but to find ways to reduce their exposure to litigation.

“If you squeeze a balloon on one end, the air is going to rush to the other.”

Brandes called the bill necessary to save some carriers but not sufficient. In the coming weeks, he expects more insurers to have their ratings withdrawn and potentially release 100,000 additional policies into the market just as hurricane season gets underway.

Other private companies cannot absorb that many policies, said Brandes. Many will go to Citizens – the state-backed insurer and typically a last resort for homeowners struggling to find coverage in the private marketplace.

Brandes noted that lawmakers avoided addressing concerns with the subsidized insurer, which projects to hold over a million policies by the end of the year. He believes Citizens could reach that milestone by the third quarter and said it is hard to steer homeowners out of Citizens because its rates are “generally half” the cost of a traditional market-based policy.

“Citizens only has $6 billion in reserves and yet has potentially $300 billion in liabilities,” said Brandes. “We would never let a regular insurance company grow as fast as Citizens is being forced to grow, because you can’t build reserves fast enough.”

Citizens’ exponential growth is a risk for every Floridian, said Brandes, because the lack of premiums to cover the risk exposure will affect the state’s bond rating. He added that Citizens’ rates are set politically rather than based on “actual rules.”

Brandes said that before 2006, the state required Citizens’ rates to remain competitive with the top 10 insurers in a region. He said people are now abusing the program, as a third of all the subsidized policies are for second homes.

“So, what ends up happening is, millionaires from New York can come down, buy a home in the Keys and get it subsidized by Citizens,” said Brandes. “And you and I get to pay the bill if they actually have a claim.”

The situation is so critical that the senator believes lawmakers could once again reconvene in Tallahassee in the coming months.

Brandes believes the governor will call another special session if insurers cancel 200,000 to 300,000 policies in the coming weeks, which “is not an unlikely possibility.” He said a named storm – or any storm, for that matter – is a reason for roofers and lawyers to coax homeowners into making a claim.

“They see it as they just found a pot of gold at the end of that tropical storm,” he said. “The Legislature did very little to slow down the amount of litigation.”

Brandes, term-limited in November, said he will attend every special session between now and election day. In the meantime, he is touring prisons and continuing to advocate for his other passion – criminal justice reform.

Brandes is still committed to starting a non-profit policy firm to continue working on issues close to his heart. That includes transportation and affordable housing, in addition to property insurance and criminal justice reform. He said he does not want to leave the work unfinished, and looks forward to sharing the knowledge acquired over his 12 years in office.

“I’ve worked really hard over the last decade to learn this stuff and to become an expert in these topics – or at least as expert as I can be,” said Brandes. “And so, I want to continue to work on that and educators.”



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