Day: September 2, 2020

Posted in Business

Pethealth to Combine with Crum & Forster Accident & Health; Will Create Fourth Largest Pet Insurance Entity in U.S. Market

EATONTOWN, N.J., Aug. 19, 2020 /PRNewswire/ — Crum & Forster, Accident & Health (www.cfins.com) announces that Pethealth Inc. (www.pethealthinc.com) will complete a reorganization transaction that will result in Pethealth combining with the Crum & Forster family and becoming a wholly owned subsidiary of Crum & Forster Holdings Corp, which is a wholly owned subsidiary of Fairfax Financial Holdings Limited (www.fairfax.ca). The transaction is subject to customary closing conditions and is expected to close by the end of the fourth quarter of 2020.

Pethealth, also a wholly owned subsidiary of Fairfax, entered the pet insurance industry in 1998 and has become one of North America’s leading producers of medical insurance for cats and dogs. Combined under the A&H umbrella with the guidance of A&H President Gary McGeddy, Pethealth and Crum & Forster Pet Insurance Group will represent a significant force in the pet insurance industry.

“We are excited to welcome

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Posted in Finance

SEC Modernizes Accredited Investor Definition

The Securities and Exchange Commission today adopted amendments to the “accredited investor” definition, one of the principal tests for determining who is eligible to participate in our private capital markets.  Historically, individual investors who do not meet specific income or net worth tests, regardless of their financial sophistication, have been denied the opportunity to invest in our multifaceted and vast private markets.  The amendments update and improve the definition to more effectively identify institutional and individual investors that have the knowledge and expertise to participate in those markets. 

“Today’s amendments are the product of years of effort by the Commission and its staff to consider and analyze approaches to revising the accredited investor definition,” said Chairman Jay Clayton.  “For the first time, individuals will be permitted to participate in our private capital markets not only based on their income or net worth, but also based on established, clear measures of

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Posted in Insurance

Deadline For NYers To Get Health Insurance Extended 30 Days

NEW YORK — The period in which New Yorkers can enroll in health insurance has been extended another 30 days, Gov. Andrew Cuomo announced on Tuesday. In a news release, Cuomo said the new deadline for the special enrollment period is now Sept. 15.

During the enrollment period, New Yorkers can apply through NY State of Health, the New York State health insurance marketplace or directly through insurers, according to the release.

“While we’ve crushed the curve of the virus, we are still in challenging times for hard-working families throughout the state who need access to quality, affordable health care,” Cuomo said in a statement, in part.

According to the release, the extension is the result of the state’s efforts to ensure residents are not dissuaded from getting a test for the new coronavirus or medical care if they become sick.

“By offering this special enrollment period, we’re making sure

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Posted in Money

Central banks ‘troubled and intrigued’ by expansion in digital currency

DBS describes the growth of digital currency as both fascinating and daunting in a new research paper, ‘Digital Currencies: Public and Private, Present and Future’.

The Singaporean bank has produced the paper to appraise the latest developments in public and private digital currencies, with a view to publishing quarterly updates on the industry.

The paper claims that Asia is the world’s largest digital payments market, accounting for half of the world’s top ten crypto exchanges measured by traffic, liquidity and trading volume.

Digital currencies have “captured the investor zeitgeist”, whether it be speculation, precaution or simple portfolio diversification, powered further by the unprecedented levels of financial stimulus being injected by central banks to counter the Covid-19-related economic headwinds.

While Bitcoin is still seen as the flagship of crypto, the paper stresses the proliferation that the space has seen, citing the 2500+ currencies listed on coinmarketcap.com.

A considerable number of moving

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