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In the U.S., a full-time landscaping and groundskeeping employee reportedly earns a median wage … Read More

Genstar Capital gives backing to formation of new insurance firm

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Private-equity firm Genstar Capital has announced that it has partnered with insurance industry executives to establish Obsidian Insurance Holdings, a new fronting insurance holding company, with US$100 million of capital.

Obsidian’s insurance carrier subsidiary, Obsidian Insurance Company, has a financial strength rating of A- from AM Best to issue policies underwritten by managing general agents, managing general underwriters and program managers. Obsidian will source, underwrite, and manage a portfolio of property, casualty, and specialty programs. It will also reinsure the majority of the business to select insurers.

Obsidian will be led by CEO William Jewett, who has more than 35

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Scientists doubt convalescent plasma touted by Trump is ‘breakthrough’ treatment

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Scientists and public health officials said Monday they are skeptical convalescent plasma is an effective treatment for patients hospitalized with Covid-19, even after the Food and Drug Administration issued an emergency use authorization for the treatment and President Donald Trump touted it as a “breakthrough.”

There are no formally approved drugs or vaccines for the coronavirus. Convalescent plasma is one of several therapies being tested as a potential treatment.

The plasma, taken from patients who have recovered from Covid-19 and developed antibodies against the virus, is infused in sick patients. Scientists hope it helps kick-start the immune system to

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Korean insurance agent hopefuls brave bitter cold for exam

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The changes in society brought about by COVID-19 cannot be overstated, as shown in South Korea, where the national examination for insurance agents was held in a soccer field, in near-freezing temperatures, with participants sitting more than 10 feet apart.

According to a report by ABC, there was an urgent need for the examinees to obtain their insurance agent licences, hence the unusual arrangement. Ahn Sungyong from the General Insurance Association of Korea (GIAK) said that the schedule was announced just a week before the examination date.

Aside from being seated far apart from each other, everyone who took the

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