OPINION 10/14/2018 08:00 am ET Jessica BaronGuest Writer Last month, the insurer John Hancock announced that all of its life insurance policies would become “interactive” by 2019, tracking fitness and health data through wearable devices and smartphones. All customers are now automatically enrolled in the Vitality Go program, which rewards customers who enter their data with gift cards and other discounts, or the Vitality Plus program, which costs a minimum of $2 a month and can reduce a customer’s annual premium by 15 percent (though enrollment is automatic, participation in the programs is not mandatory). Reactions to the news ranged from glum proclamations that the company was ushering in the surveillance state, to cheering a new era of rewarding the virtuous fit. And the announcement set off yet another round of debate — not just about what it means to be fit and healthy, but about the extent to which that’s a responsibility that people … [Read more...] about Don’t Bet Your Life On Wearable Fitness Trackers
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John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday. The move by the 156-year-old insurer, owned by Canada's Manulife Financial Corp, marks a major shift for the company, which unveiled its first interactive life insurance policy in 2015. It is now applying the model across all of its life coverage. Interactive life insurance, pioneered by John Hancock's partner the Vitality Group, is already well-established in South Africa and Britain and is becoming more widespread in the United States. Policyholders score premium discounts for hitting exercise targets tracked on wearable devices such as a Fitbit or Apple Watch and get gift cards for retail stores and other perks by logging their workouts and healthy food purchases in an app. In theory, everybody wins, as … [Read more...] about Fitness Tracker Required if You Want to Be Insured by John Hancock Life
It’s no secret that in Germany, Versicherung, or insurance, is king. Whether it is to cover your home, car, work-life or person, you want to make sure that you are in-the-know about which services you should have. We are here to help with a full guide to the different types of insurances and when you might need them. Insurance for when you’re sick With so many different kinds of health insurance, it's good to know the differences. Photo: DPA Krankenversicherung (health insurance) is the mack-daddy of all insurances, because without health insurance you are not even allowed to be in the country. There are two basic types of health insurance in Germany - public and private. And trust us, there are some big differences between the two. Public, or statutory health insurance, is required for everyone earning less than €4,462.50 per month, or €53,550 per year, and what you pay as a … [Read more...] about What you need to know about the complicated world of German insurance
According to the DGB, around half of those working more than 48 hours per week are suffering from overwork. And men are more likely to work overtime than women, with 37 percent of men reporting weeks longer than 45 hours compared to 24 percent of women. "The numbers from the study lead us to suspect [that overtime is] a mass phenomenon," said labour market expert Holger Schäfer of the Institute for the German Economy (IW) in Cologne. Schäfer noted, though, that overtime was only truly widespread in a small number of fields, especially those most vulnerable to competition – such as industrial businesses. Financial or social services workers, by contrast, were much less likely to work overtime´, Schäfer said. "If you end up with a lot of overtime [in these sectors] it's much more likely down to bad human resources planning," he added. That was borne out in the DGB study, which found that transport and logistics workers were the most likely to work … [Read more...] about Is overtime robbing Germans of family, friends and rest?
Even Andrew Rubinstein admits he was motivated by greed when he got involved in an elaborate $23 million auto insurance fraud that operated for years in chiropractic clinics in South Florida.His desire for a more comfortable life was part of a circle of fraud that federal prosecutors said cost the rest of us — by pushing up the cost of insurance for millions of drivers.Rubinstein, who was part of a corrupt group of clinic owners, chiropractors and attorneys that operated mostly in Broward, Palm Beach and Miami-Dade counties, was sentenced Wednesday to six years in federal prison.“He did it for greed. He did it because he wanted a better lifestyle. He did it for money,” prosecutor Jeffrey Kaplan said.The crime ring raked in at least $23 million from 10 auto insurance companies in the seven years it operated, ending with a series of arrests in 2017.The fraud involved ripping off auto insurance companies by illegally billing for Personal Injury Protection (PIP) insurance … [Read more...] about Greed drove $23M auto insurance fraud at chiropractic clinics, feds say