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Chubb Appoints Edward Rayfield as Singapore’s Head of Casualty

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SINGAPORE - Media OutReach - 12 October 2017 *-** *Chubb announced today that *Edward Rayfield* has been appointed as Head of Casualty in Singapore. In his new role, he reports to Liam Burrell, Division Head of Property & Casualty (P&C).

Mr. Rayfield brings with him strong Casualty underwriting and industry experience.  Most recently, he held the position of Casualty Manager, Global Broker Unit NSW & ACT for Chubb in Australia, overseeing the performance and growth of the business portfolio. Mr. Rayfield has deep underwriting expertise for both local and international risks, having spent a large part of his career as a Casualty Underwriter in Chubb's operations in Europe, prior to moving to Australia.

In his new role, Mr. Rayfield will be responsible for the day-to-day management of the Casualty and Work Injury Compensation portfolios in Singapore, including all underwriting and market-facing functions. In addition, he will spearhead product development as well as underwriting initiatives to achieve sustainable growth.

On Mr. Rayfield's appointment, Mr. Adam Clifford, Country President for Chubb in Singapore said, "I am excited about the enthusiasm, passion and drive Edward will bring to the Casualty team and the Singapore business. Given his global industry experience, strong technical underwriting expertise and proven ability to effectively engage our brokers, I am confident that he is an excellent candidate to lead and drive the expansion in our Casualty business."

*About Chubb in Singapore*

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide.

More information can be found at www.chubb.com/sg Reported by Media OutReach 1 hour ago.

Chubb launches value-added services for Leisure Travelers

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SINGAPORE- Media OutReach - October 12, 2017 - Chubb today announced the launch of a suite of value-added services for leisure travelers. Known as Chubb Connect, these services include complimentary Wi-Fi and SOS Alerts as a start. Piloted in Australia since May this year, Chubb Connect is now also available in New Zealand and Singapore. The app will be launched progressively to other countries in the region in due course.

Jon Ford, *Head of Partnership Distribution *for Chubb Asia Pacific, said, "We know that when our customers are traveling, access to Wi-Fi connectivity is considered highly valuable and important to enhance their travel experience. With the Chubb Connect app, not only do customers stay connected but they can also opt to receive SOS alerts informing them of travel disruptions as and when these happen. Delivered in real-time via the app, SMS and email, our customers can make informed decisions before and during their travels. The app also connects travelers to our 24/7 Emergency Hotline if they require help in a foreign land."

"With the rise of the middle class in Asia Pacific, the number of overseas trips continues to increase substantially.  In addition, smartphone connections in Asia now account for more than 50% of mobile connectivity globally[1]. Operating in such a highly connected and mobile region, Chubb recognizes the need to provide our customers with value-added services in additon to insurance protection and assistance. Chubb Connect will represent significant additional value to our leisure travel customers and partners" added Alex Blake, Chubb's Global Head of Travel Insurance.

Chubb Connect is powered by United Networks, an Australian-owned global telecommunications provider offering telecommunications, data and value added services since 2009.**

*About Chubb*

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline.  We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide.
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[1] The Mobile Economy Asia Pacific 2017 produced by https://www.gsma.com/mobileeconomy/asiapacific/. GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with more than 300 companies in the broader mobile ecosystem.  Reported by Media OutReach 41 minutes ago.

Here's what President Trump's executive order on health care could mean for Triad businesses

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President Donald Trump on Thursday signed an executive order that could potentially shake up the health insurance market. Reported by bizjournals 10 hours ago.

Frustrated by Congress, Trump signs order to weaken Obamacare

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WASHINGTON (Reuters) - President Donald Trump on Thursday signed an order to make it easier for Americans to buy bare-bones health insurance plans, using his presidential powers to undermine Obamacare after fellow Republicans in Congress failed to repeal the 2010 law. Reported by Reuters 10 hours ago.

Funding disagreements put Children's Health Insurance Program at risk

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Reported by DallasNews 9 hours ago.

How Trump's Executive Order Could Affect The Health Insurance System

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NPR'S Robert Siegel talks with Sabrina Corlette, a professor at Georgetown University and expert on the health insurance market, about President Trump's executive order on health associations and the impact they will have on the health care system. Reported by NPR 8 hours ago.

Editorial: Congress Can’t Let Mr. Trump Kill Obamacare on His Own

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A new White House executive order could significantly damage the health insurance market and harm millions of people. Reported by NYTimes.com 6 hours ago.

Anthem eases up on 2018 health insurance premium hikes after pressure from California

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Insurance giant Anthem Blue Cross agreed to reduce two planned premium increases for 2018 after California regulators questioned the company’s rationale for raising rates by as much as it had initially proposed.

The scaled-back rate hikes, in the individual and small-employer markets, will reduce... Reported by L.A. Times 7 hours ago.

White House says it cannot lawfully pay subsidies to health insurance companies under President Obama’s health care law

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WASHINGTON (AP) — White House says it cannot lawfully pay subsidies to health insurance companies under President Obama’s health care law. Reported by Seattle Times 3 hours ago.

Trump to end cost-sharing health subsidies that help low-income patients

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Trump has previously threatened to end payments, which help reduce health insurance copays for people with modest incomes.

 
 
 
 
 
 
  Reported by USATODAY.com 2 hours ago.

Donald Trump moves to end 'illegal' health insurance subsidies in latest attack on Obamacare

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Reported by Telegraph.co.uk 1 hour ago.

Ralph Nader: Obama Too Cool For Trump’s Crises – OpEd

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Back in the nineteen seventies, there was a best-seller, widely read in the business community, called Winning through Intimidation. Barack Obama should pick up a copy, because that is what Donald Trump may be doing to him. Obama stays mostly silent as the belligerent Trump rolls back or destroys the legacies of Obama’s eight years in office. The mere thought of tangling with the Trumpster’s foul, prevaricatory, sneering tweets offends Obama’s own sense of civil discourse between politicians.

Given the present crises, this revulsion is just another form of self-indulgence by the former, self-described community organizer, Senator and President. There is no other political leader, in our celebrity culture, as well known or so high in the polls. Consequently Obama owes a different attitude and level of engagement to the American people.

In a previous column, I described some of these engagements, none of which involve a twitter fight with Trump. They provide focal points for Americans to rally around agendas and opposition to the politics of anxiety, dread and fear generated by the unstable occupant of the White House. That is, a way to respond to Trump’s raging tantrums, fact-impairment, loss of self-control and ego-centric vanities.

Mr. Obama could, for example, work to strengthen civic groups and help substantially to create new organizations to address urgent needs (such as averting wars); he could back opposition to Trump’s destructive policies that are running America into the ground while shielding Wall Street and the dictatorial corporate supremacists whose toadies Trump has put into high government positions.

Obama is a big draw and can raise hundreds of millions of dollars faster than most. Furthermore, he has the unique ability to fill the void the mass media is desperately looking to fill by serving as a counterweight to Trump. Hillary, hawking her latest book, doesn’t fit the bill here.

Instead, Obama, besides raising funds for his presidential library (about $1 billion), is getting press primarily for being paid $400,000 or more per speech before Wall Street and other big business audiences. Most recently, the New York Times located him in Sao Paulo, Brazil, speaking generalities to businesspeople who were charged from $1,500 to $2,400 to hear him say essentially nothing of note. The speech title was grandly cheerleading: “Change the World? Yes, You Can”—a nod to his unofficial 2008 campaign slogan, “Yes We Can.”

Obama’s spokesman would not say how much Obama gets to keep of the approximate $2 million generated by this event, which was sponsored by the Spanish bank Santander and Brazilian media conglomerates. The paying attendees were attracted to his celebrity status and didn’t care about the sizable tab probably picked up by their companies. One attendee was quoted by the Times as saying, “It was a bit disappointing. I don’t feel like he said anything new.”

There is plenty to be said in the U.S. that is both new and significant by Obama. However, apart from a few words here and there on bigotry and immigration, Obama has preferred to bounce between high-priced lecture gigs and wealthy watering holes where he is a guest of the super-rich, and to work on his book, for which he is receiving over $30 million. Michelle Obama is receiving many millions of dollars for her book and has also been attending celebrity-filled gatherings. When asked at one such event, whom she would most like to be if she had another career, she answered, Beyoncé.

Meanwhile, down at the grassroots level, where people live, work and raise their families, tens of millions are without living wages or health insurance. Underemployment and people dropping out of the labor market in frustration over their rejected skills, mask what is in reality a deceptively low unemployment rate, and yet poverty indicators are everywhere. Under Trump, families will be exposed to more hazards in the workplace, the environment and the marketplace, and they will face rip-offs by companies that have been liberated from regulatory law and order.

The list of protective programs and responsible business laws destroyed by Trump’s wrecking crew of a cabinet grows longer every week.

It isn’t as if Barack Obama doesn’t realize what he is doing and what is happening to him in this self-enriching bubble he has shaped, post Presidency. He can’t seem to help himself, and going to nearly 500 fat-cat political fund-raisers outside Washington, D.C. as President didn’t help to change or expand his chosen circle.

In his best-selling 2006 book, The Audacity of Hope, then Senator Obama admitted: “I found myself spending time with people of means—law firm partners and investment bankers, hedge fund managers and venture capitalists. As a rule, they were smart, interesting people. But they reflected, almost uniformly, the perspectives of their class: the top 1 percent of the income scale.”

Classic Obama: Say the right thing and the people won’t mind so much when your words don’t match your deeds.

Think of your millions of supporters, Mr. Obama. They want you to regularly stand up for them and fight the Trump-led assault on our weakening democracy. Reported by Eurasia Review 36 minutes ago.

Trump nails Obamacare with decision to cut off billions in subsidies

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WASHINGTON (Reuters) - U.S. President Donald Trump moved to undermine Obamacare dramatically late on Thursday by cutting off subsidies to health insurance companies for low-income patients, sparking threats of legal action and concern of chaos in insurance markets. Reported by Reuters 24 minutes ago.

Trump plans to halt subsidies to health insurers, further undermining Obamacare

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The federal government will cease crucial federal payments to health insurers that provide coverage to low-income Americans, the White House announced late Thursday in a move that threatens to send health insurance premiums skyrocketing for millions of Americans and destabilize markets across the... Reported by L.A. Times 1 minute ago.

Healthy for profits: Government locks in second-rate public hospital system

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The stock market reaction tells one of the stories about Federal Health Minister Greg Hunt's health insurance reform package: it was written by the private health insurance industry for the private health insurance industry. Reported by Sydney Morning Herald 4 minutes ago.

CareFirst CEO: ACA subsidy slashes could mean another $50 million in losses

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CareFirst BlueCross BlueShield CEO Chet Burrell said the Trump Administration's slashes to cost-reducing health insurance subsidies could cost the state's largest insurer another $50 million — that's on top of the nearly $500 million the firm has already lost since the Affordable Care Act was enacted. Today, President Donald Trump said he will not continue to pay so-called cost sharing reduction subsidies, or CSRs, that reduce out-of-pocket costs for about 6 million consumers on ACA health plans.… Reported by bizjournals 2 days ago.

What Expiration Of Funding To Children’s Health Insurance Program Means

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Millions of children from low income families have gotten help from a program called the Children's Health Insurance Program, or CHIP.   Reported by cbs4.com 2 days ago.

Key questions and answers about Trump's health care move

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WASHINGTON (AP) — President Donald Trump's move to stop paying a major "Obamacare" subsidy will raise costs for many consumers who buy their own health insurance, and make an already complicated system more challenging for just about everybody. Experts say the consequences will vary depending on how much money you earn, the state you live in, and other factors. Overall, Trump's decision will make coverage under the Affordable Care Act less secure, because more insurers may head for the exits as their financial losses mount. All of this is happening with the Nov. 1 start of sign-up season a couple of weeks away. Reported by SeattlePI.com 2 days ago.

An important shift in the job market makes the mystery of weak wage growth less puzzling

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An important shift in the job market makes the mystery of weak wage growth less puzzling Many economists say they can’t figure out why US wage growth remains so meager nine years into the economic expansion, especially given a decline in the unemployment rate to a historically low 4.4%.

A new study from the International Monetary Fund might help them out. It finds that shifts in the labor market toward less stable, temporary or contract jobs, including odd hours and often no health insurance, likely play a substantial role in preventing wages from rising.

That’s because job uncertainty makes it harder for workers to bargain for higher wages, giving employers a strong upper hand in any salary negotiation. The trend is happening not just in the United States but also in other rich economies, the Fund says.

"Labor market developments in advanced economies point to a possible disconnect between unemployment and wages," IMF staffers write in their latest World Economic Outlook report.

"Subdued nominal wage growth has occurred in a context of a higher rate of involuntary part-time employment, an increased share of temporary employment contracts, and a reduction in hours per worker," the report adds.

That’s not the only factor. The Great Recession of 2007 to 2009, which was a global phenomenon, set labor markets back years, and suppressed wages sharply as unemployment surged, peaking at 10% in the United States. The IMF suggests the policy reaction to that global downturn was underwhelming, particularly when it came to fiscal policies, which were restrictive both in the United States and Europe.

"Whereas in many economies headline unemployment is approaching ratios seen before the Great Recession, or has even dipped below those levels, nominal wage growth rates continue to grow at a distinctly slower pace," the Fund said. "For some economies, this may reflect policy measures to slow wage growth and improve competitiveness in the  aftermath of the global financial crisis and euro area sovereign debt crisis."

Yet labor market structures also play a key role. That is, decades of labor policy reforms aimed at greater job market flexibility have usually meant more flexibility for firms, not workers. The report further describes the mechanism by which the prevalence of temp and part-time work may lead to overconfidence about the job market’s progress.

"To the extent that declining unemployment rates partly reflect workers forced into part-time jobs, increases in such types of employment may overstate the tightening of the labor market," the IMF said. "Specifically, these workers may be willing to accept slower increases in wages and, at the same time, may continue to seek full-time employment and open-ended contracts.

"By doing so, they compete with workers employed under more traditional arrangements and, so, weigh on their wage growth as well. True labor market slack may therefore be larger than suggested by headline unemployment rates."

*SEE ALSO: There's an important social reason incomes aren't rising in America*

Join the conversation about this story »

NOW WATCH: Debating the odds of a stock market correction Reported by Business Insider 2 days ago.

Sen. Hasson On President Trump Ending Obamacare Subsidies

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Trump this week ended subsidies to health insurance companies. Democratic Sen. Maggie Hassan of New Hampshire talks to NPR's Scott Simon about how this will impact the Affordable Care Act. Reported by NPR 2 days ago.
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