Posted on 02/02/2022 6:46:08 AM PST by Jan_Sobieski
LONDON (Reuters) - A coronavirus pandemic which lasts five years, another pandemic in a decade, and ever more transmissible variants are among the scenarios life insurers are predicting after COVID-19 claims jumped more than expected in 2021.
The global life insurance industry was hit with reported claims due to COVID-19 of $5.5 billion in the first nine months of 2021 versus $3.5 billion for the whole of 2020, according to insurance broker Howden in a report on Jan 4, while the industry had expected lower payouts due to the rollout of vaccines.
"We definitely paid out more than I had anticipated at the beginning of last year," said Hannover Re board member Klaus Miller.
The increase in claims was largely down to the emergence of the Delta variant, twice as transmissible, and more likely to cause hospitalisation than the original coronavirus strain.
Claims rose most in the United States, India and South Africa due to the more lethal variants and a rise in fatalities or illness among younger and unvaccinated groups.
Dutch insurer Aegon, which does two-thirds of its business in the United States, said its claims in the Americas in the third quarter were $111 million, up from $31 million a year earlier. U.S. insurers MetLife and Prudential Financial also said life insurance claims rose. South Africa's Old Mutual used up more of its pandemic provisions to pay claims and reinsurer Munich Re raised its 2021 estimate of COVID-19 life and health claims to 600 million euros from 400 million. The long-term nature of life insurance products – often lasting 20 years or more – means premiums are not yet capturing the risk that deaths or long-term illness from COVID-19 will likely remain higher than previously estimated. Competition in the industry is also keeping a lid on premiums…
(Excerpt) Read more at uk.finance.yahoo.com ...
I’d imagine the insurance companies will be hard at work with our corrupt legislators and deep state to nudge the rules in their favor .
Apologies... so hard not to be cynical.
“Pandemic Risk Models” —> Raise rates!
Means lower rates for the UNVAXED, right?
The question is, as more and more data (and claims) roll in, which group will the statistics indicate should have higher rates?
This could become a fight between Big Pharma and the insurance industry.
Some companies are woke, some are not. One life insurer I work with mandates diversity training. One requests that viewers to their webinars stand up and say the Pledge of Allegiance with hand over heart.
As far as I know, they all stick to the facts so if a tyranny applies, they evaluate the increased risk of suicide, etc. If a woke state mandated otherwise, they could refuse to continue to sell in that state. PM me for details.
It is impossible for me to comprehend the evil in people who would do this to children to satisfy their greed.
My antipathy for such people is immeasurable. Had I the power I would rain hell down on them.
It does raise the question of a discount for the naturally immune and un-jabbed, but you would have to divulge your ‘jab’ status.
If they could just get us to live longer, we could pay more life insurance premiums.
Wait a minute.
What caused all these deaths? The virus or the vaccine??
Inquiring minds want to know.
Remember the Asbestos lawsuits?
This could be far worse.
“The vaxx.”
We sure agree on that. I’m interested in any reliable statistics (full data set) that support that concept. It is hard to find.
The point of the article is that Insurance Companies expected fewer claims after vaccination. The exact opposite occurred. The correlation to vaccines is strong.
“The global life insurance industry was hit with reported claims due to COVID-19 of $5.5 billion in the first nine months of 2021
versus $3.5 billion for the whole of 2020, according to insurance broker Howden in a report on Jan 4, while the industry had expected lower payouts due to the rollout of vaccines.
"We definitely paid out more than I had anticipated at the beginning of last year," said Hannover Re board member Klaus Miller.”
”The increase in claims was largely down to the emergence of the Delta variant, twice as transmissible,
and more likely to cause hospitalisation than the original coronavirus strain."
“Claims rose most in the United States, India and South Africa due to the more lethal variants and a rise in fatalities or illness among younger and unvaccinated groups.”Infectious Disease ping - Covid (alpha, beta, delta, and omicron) and the vaccines
Unexpected Consequences ?
Kid vax help all of them as most kids are not insured. If they are insured, usually ony enough to cover a funeral, not replacing a breadwinner’s future lifetime earnings.
More vax sales, reduced population, and less insurance payouts. They all win.
More "experts"? But Fauxi and the msm said they would work.
There was a case in Europe where the judge ruled that the person trying to collect insurance could not because the victim died of taking a voluntary exchange your mental vaccine, and was part of an experiment. I’m sure we’ll see similar exclusions for Covid deaths in the US as people die from the experimental vaccines
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