Day: March 8, 2021

Singapore insurers reveal deadline for premium deferral application

spike 1 month ago

In a statement, LIA Singapore said it will continue to support policyholders impacted by the pandemic, and those policyholders currently on the DPP will continue to be on the DPP scheme until their applicable end date.

If, by the end of the deferment period, the policyholder remains in financial difficulty, the LIA advises them to approach their insurer to discuss various options such as a three-month extension of the DPP or a three-month instalment payment plan.

Other policyholders facing difficulties in paying premiums should also approach their insurers to explore options, the industry body added.

According to LIA Singapore, around

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China urged to enforce “zero tolerance” of fintech breaches

spike 1 month ago

Shang, who is also director of the CPPCC Economic Affairs Committee, urged financial regulators to enhance their supervision of the sector and help the government strike a balance between financial development, financial stability and financial security. Regulators, he added, must also create a market environment of fair competition, break monopolies, and prevent the disorderly expansion of capital.

His remarks come as China cracks down on several major firms in the fintech sector, including Jack Ma-backed Ant Group.

Ant was planning dual listings on the Hong Kong and Shanghai stock exchanges last year, but was forced to shelve them in November

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UK credit market report January 2021

spike 1 month ago

FICO has released its analysis of UK card trends for January 2021 which highlights a mixed – and perhaps confusing – picture of UK consumer finances. Furlough and forbearance appear to be masking the true impact of the pandemic, which may well lull politicians and lenders into a false sense of security.

“It is normal to see increases in the percentage of accounts and balances missing payments in January as a result of Christmas spend, but this January the growth has not been as marked as we saw last year,” explains Stacey West, principal consultant for FICO® Advisors.

“This is

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Insurer ordered to pay US$12 million over death of Maroon 5 manager

spike 1 month ago

Feldstein was the co-founder and CEO of Career Artist Management (CAM), from which he principally managed both Maroon 5 and Adam Levine – his childhood friend.

In 2016, entertainment company Roc Nation purchased a 49% ownership interest in CAM. According to court documents, Feldstein and Roc agreed in the purchase contract to obtain insurance protecting Roc Nation’s investment should Feldstein die or become disabled.

Roc Nation had purchased the “key man insurance policy” from HCC in 2016, and renewed the policy on December 21, 2017.

However, Feldstein suddenly died from a pulmonary embolism the very next day, December 22, 2017

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