Prior to the enactment of the ACA in 2010, Hispanic, Black, Asian, AIAN, and NHPI people under age 65 were more likely to be uninsured compared to their White counterparts, with Hispanic and AIAN people at the highest risk of lacking coverage (Figure 1). Their higher uninsured rates reflected more limited access to affordable health coverage options. Although the majority of individuals have at least one full-time worker in the family across racial and ethnic groups, there are ongoing racial disparities in employment and income that result in some groups having more limited access to coverage offered by an employer or having greater…
Author: Awais
A new analysis suggests Americans are being overcharged by $150 billion annually to insure their homes, autos and businesses — and it proposes federal guardrails so that a public beset by affordability pressures could see savings. The analysis by the Vanderbilt Policy Accelerator obtained exclusively by The Associated Press details how insurers are paying out less on claims after an accident, natural disaster or other misfortune than they did decades ago. For every $1 collected in premiums, insurers reimbursed 62 cents for claims in 2024, down from an average loss ratio of 80 cents in the 1980s and 1990s. The…
Three people have died and one is in intensive care in South Africa after a cluster of hantavirus infections linked to a cruise ship in the Atlantic Ocean, the World Health Organization said Sunday. One case has been confirmed by laboratory testing and five others are suspected, the Geneva-based United Nations agency said in a statement posted on X. Two crew members on board also require urgent medical care. The vessel involved is the MV Hondius — currently off the coast of Cape Verde — according to the ship’s operator, Oceanwide Expeditions BV. As of late Sunday local time, Cape…
Mike Parrish (pictured above), chief executive of Howden Americas, framed the move as part of broader investment in data and specialist talent. “We are investing aggressively in data, analytics, and cyber expertise, all aligned to clients’ most pressing concerns,” he said.
Complaints about hospital food are certainly not new, and Jell-O and fruit juice are often the butt of related jokes. But the Trump administration has recently upped the ante. It is urging the public to report hospitals and nursing homes that serve sugary drinks, nutrition shakes, or meals that it says don’t meet dietary guidelines established last year by the U.S. Department of Agriculture, with officials vowing to withhold millions of dollars in federal funding if violations occur. The initiative from Health and Human Services Secretary Robert F. Kennedy Jr. is spurring backlash from some doctors and medical providers who…
The U.S. military said two U.S. Navy guided-missile destroyers had entered the Gulf to break an Iranian blockade and that two U.S. ships had transited the Strait of Hormuz, after Iran said it had prevented a U.S. warship entering the Gulf. U.S. Central Command said its forces were supporting President Donald Trump’s “Project Freedom,” which aims to “guide out” commercial ships stranded in the Gulf by the U.S.-Israeli war on Iran, and were enforcing a blockade of Iranian ports. The intervention appeared to raise the risk of a direct confrontation between the U.S. and Iran in a waterway that usually…
USAA, the military mutual insurer, has now successfully priced its largest catastrophe bond sponsorship ever at attractive spreads, with the Residential Reinsurance 2026 Limited (Series 2026-1) cat bond now set to provide the company a meaningful $825 million in additional catastrophe reinsurance limit, Artemis can report.It’s particularly notable when such a long-standing sponsor of catastrophe bonds opts to secure its largest issuance to-date and is indicative of currently attractive market conditions for sponsors that is helping to fuel cat bond market activity levels. USAA sponsored its first catastrophe bond way back in 1997, with that first Residential Re deal becoming…
A new analysis suggests Americans are being overcharged by $150 billion annually to insure their homes, autos and businesses — and it proposes federal guardrails so that a public beset by affordability pressures could see savings. The analysis by the Vanderbilt Policy Accelerator obtained exclusively by The Associated Press details how insurers are paying out less on claims after an accident, natural disaster or other misfortune than they did decades ago. For every $1 collected in premiums, insurers reimbursed 62 cents for claims in 2024, down from an average loss ratio of 80 cents in the 1980s and 1990s. The…
An attorney representing the Trump administration informed a U.S. District Court Friday evening that the Federal Emergency Management Agency has begun offering new appointments to disaster workers whose contracts the agency did not renew in January, reversing a controversial decision that prompted a coalition of labor unions, scientific groups and local governments to sue the administration. FEMA has “initiated contact to offer new appointments” to term-limited staff whose contracts expired the first three weeks of January, U.S. Attorney Craig H. Missakian wrote in a notice submitted to the U.S. District Court in San Francisco Friday. The notice comes after months…
Fermat Capital Management has invested in the Asian Development Bank’s first-ever catastrophe bonds, designed to shield Kyrgyzstan and Tajikistan against specific types of natural disasters. The two sovereign bonds — each $80 million in size and with a three-year tenor — will pay out to impacted communities if predefined levels of precipitation are breached, or if earthquakes reach particular magnitudes, regardless of actual losses. “Fermat is generally called upon to be the lead investor in first-of-its-kind deals such as this one,” a spokesperson for the Connecticut-based firm said in an emailed response to questions, confirming it had participated in the…
A United Airlines aircraft on Sunday struck a light pole and a trailer during its final approach to Newark Liberty International Airport, the New Jersey State Police said. The underside and tire of United Airlines Flight 169 struck a light pole and tractor-trailer on the New Jersey Turnpike around 2 p.m., according to a New Jersey State Police spokesperson. The Federal Aviation Administration said the Boeing 767-400 landed safely and was arriving from Venice, Italy. “Our maintenance team is evaluating damage to the aircraft,” said a United spokesperson. “We will conduct a rigorous flight safety investigation into the incident and…
Fairfax posted net losses on investments of $385.9 million, against gains of $1.06 billion a year earlier, including $363.9 million of mark-to-market bond losses tied to higher rates. “We expect our investments to perform well over the long term, but our net gains will fluctuate from quarter to quarter,” chairman and chief executive Prem Watsa said.
After a remarkably successful effort to extinguish diversity, equity and inclusion programs at US employers, federal officials are stepping up their push against corporate America’s remaining DEI initiatives. Last week it was a review of Walt Disney Co. television station licenses over the company’s discrimination policies, following a Jimmy Kimmel joke that drew ire from the president. Before that, it was a $17 million settlement with IBM regarding its DEI practices, and a lawsuit against Nike Inc. for allegedly not cooperating with an investigation into bias against White workers. In February, the Equal Employment Opportunity Commission sent a letter to…
Leslie Clark isn’t counting on money from the Maui wildfire settlement to help rebuild her family home near Front Street in Lahaina. Worrying about something out of her control “is not good for your health,” said Clark, 62, who lost her home in the August 2023 fire. “It’s not good for anything.” As Maui fire victims like Clark inch toward finally receiving their share of a $4.03 billion settlement to compensate them for their losses, one thing has become painfully apparent: Few victims will be made whole, even many who, like Clark, had property insurance. Settlement checks could start flowing…