“Father Knows Best” was a popular radio show in the post-World War II era that morphed into an even more popular television series starring actor Robert Young. Young’s character, Jim Anderson, was an insurance company executive — probably the only time American mass media have positively portrayed such a figure. Young later played a … Read more
“Swift swings” takes a quick peek at one economic trend. The number: When this year is complete, the typical auto insurance policy in California will be 54% pricier than 2023. The source: My trusty spreadsheet analyzed an auto policy pricing report from insurance tracker Insurify. Its study looked at two-year median costs for drivers between … Read more
Chakri Lokapriya, Managing Partner, RSB LLP, says the current Supreme Court ruling on mines, allowing states to collect past dues will mean an outgo of about Rs 60,000 crore for just the PSUs and another Rs 1 lakh crore for the private companies. So, Rs 1,60,000 crore will need to be repaid over the next … Read more
Gov. Gavin Newsom’s new proposal to speed approval of rate hikes for most types of property insurance and help stabilize a collapsing market will cost Californians billions of dollars, consumer advocates said Wednesday. Insurers contend the plan language released announced Tuesday evening — which affects home, rental, vehicle, boat and small business policies — would … Read more
Cars just aren’t worth repairing anymore. One in every five cars seen by an insurance adjuster is estimated to cost too much to be repaired and returned to drivable condition. There are a ton of factors to look at here, but with high-tech lighting and sensors at the extremities of every car these days, increased … Read more
Siddhartha Mohanty, Chairperson, LIC, says they have moved from Rs 5,82,000 crore to Rs 7,27,000 crore and there’s a very huge growth in our India embedded value. It comprises all their businesses as well as other factors which contribute to growth, so that growth rate will continue and the market should trust us. Mohanty expects … Read more
Ramesh Mantri, CIO, WhiteOak Capital AMC, says when we look at combined fundamentals and valuation, there are some sectors where fundamentals are very strong, but valuation is very high like industrials, capex related and then smaller industry segments like defence, electronics and manufacturing. The fundamental corporate earnings have been good but the valuation is high. … Read more
Mumbai: Life Insurance Corp. of India (LIC), the country’s biggest insurer, reported a 2.5% increase in net profit to ₹13,762 crore for the March quarter, with wage increases accounted for in the period preventing further expansion in the bottom line. The insurer reported profit of ₹13,421 crore in the same period last year. The solvency … Read more
Kamesh Goyal, Chairman, Go Digit, says India’s market penetration, at 1% of the GDP, is really small. In the next 5 to 10 years, if we move from 1 to 1.3, 1.25% of the GDP, the opportunity for growth is just enormous. “As long as India does well, the journey in our business is long … Read more
Alameda County District Attorney Pamela Price is suing Farmers Insurance over an alleged “widespread scheme” to underinsure homes across California. Price has accused Farmers and multiple affiliated companies of lowballing homeowners on the cost estimates to rebuild their properties — meaning policyholders lack enough coverage to replace their homes in the event of a wildfire … Read more