Latest news with #claims
Bloomberg
6 days ago
- Business
- Bloomberg
Rise in Recurring Jobless Claims Signals Higher US Unemployment
Recurring applications for US jobless benefits jumped to the highest level since November 2021, possibly presaging a rise in the unemployment rate this month. Continuing claims, a proxy for the number of people receiving benefits, increased by 26,000 to 1.92 million in the week ended May 17. That exceeded the median forecast of 1.89 million in a Bloomberg survey of economists. The period includes the reference week for the government's employment report for the month of May, which is due June 6.
Argaam
6 days ago
- Business
- Argaam
US jobless claims rise more than expected
The number of Americans filing new claims for unemployment benefits last week rose more than expected, amid increased layoffs due to economic uncertainty, fueled by President Donald Trump's strict trade policies. Initial claims for state unemployment benefits increased by 14,000 to 240,000 for the week ended May 24, from the previous week's figure that was revised down by 1,000, the US Labor Department said on Thursday. Economists had expected applications to grow by 3,000.
The Independent
7 days ago
- Business
- The Independent
More Americans file for jobless aid but layoffs remain low despite economic uncertainty over tariffs
Filings for U.S. jobless aid jumped last week but American workers broadly remain secure in their jobs despite economic uncertainty over global trade. Jobless benefits applications rose by 14,000 to 240,000 for the week ending May 24, the Labor Department said Thursday. Analysts had forecast 226,000 new applications. Weekly applications for jobless benefits are seen as representative of U.S. layoffs and have mostly settled in a historically healthy range between 200,000 and 250,000 since COVID-19 throttled the economy in the spring of 2020, wiping out millions of jobs. The four-week average of claims, which evens out some of the week-to-week ups and downs during more volatile stretches, ticked down by 250 to 230,750. The total number of Americans receiving unemployment benefits for the week of May 17 increased by 26,000 to 1.92 million.
RNZ News
24-05-2025
- Health
- RNZ News
Modifications, Uber, not reading the terms: Common reasons why your insurance claim might be declined
A woman cancelled an overseas holiday when her mother became ill and was shocked to discover she was not eligible for reimbursement. Photo: 123RF Insurers can pay billions of claims each year, but many people are still disappointed, when they have a claim turned down or receive less than they expected. Insurance and Financial Services Ombudsman Karen Stevens says her office is dealing with more complaints than ever before from people for whom the process has not gone as expected. "For years and years, we would do around 3000 complaints a year and 300 investigations," she said. "By the end of this financial year, we'll be over 500 investigations - it's gone way up. "Last year, we had just on 5000 complaints into the office." She said part of the rise was due to increasing public awareness about what the scheme offered, but there were also misunderstandings about what insurance could be expected to provide. "The biggest consumer issue that we've got most of the time is a lack of understanding on scope of cover. Because they pay their premiums, they think that they're covered for basically every contingency." Here are some of the things that might seem small, but could affect your ability to make a claim. Stevens said insurance policy exclusions were something that caught people out frequently. Many policies include things that will not be covered and it's important to check what these are, so you know what to expect. "One that immediately springs to mind that I was looking at last night was in a travel context, where a woman and her husband and family were going on holiday. "They had travel insurance. She found out that her mother was very unwell and not likely to last the time that they were going to be away, so she cancelled her trip. "The problem was that there was an exclusion in the policy that quite clearly said that they wouldn't have unlimited cover, if the person who was unwell had been in a rest home of any sort in the 12 months prior to becoming seriously unwell or dying." That meant they had limited cover of up to $1000 per adult, which did not cover the costs of the trip. "She said, 'Oh, but there was nothing wrong with her, until she got pneumonia in hospital'. Well, that's fine, but the policy had an exclusion that actually had nothing to do with her wellness or anything else at the time." Stevens said modifications made to cars could be a problem. "If an insurer is unaware of the modifications, there's a specific exclusion, if they haven't been told about them and priced accordingly. They're likely to find out, when they go to claim, that not only are they not covered, but of course, our draconian laws on non-disclosure, which still stand, mean that they probably won't have any cover going forward either. "You know, vehicle modifications are still a big one in New Zealand." Consumer NZ insurance specialist Rebecca Styles said insurers could have a broad definition of what would count as modification. Styles said, if someone had been given lower premiums or a lower excess based on where a car would be parked, and then parked elsewhere, that could be a problem. "The insurer will have the ability, under the policy, to say, 'Well, terribly sorry, but we're either not paying your claim, because you're in breach of a condition or will avoid the policy', again, depending on the policy wording." Styles said State, for example, had a list of broad examples of when someone should notify it about a change to where a car was kept. "Where you park your car is considered a 'risk factor', so that would be taken into account, when pricing your policy - you usually park in a garage, but moved house and now park on the street. "While I haven't come across instances of an insurer declining a claim because of this, in the policy, there is a requirement to let the insurer know." If you're paying your insurance on a monthly basis and miss some, you could find your policy is cancelled. Styles pointed to a State policy that said people who missed a payment would get a notice and, if it remained unpaid, the policy could be cancelled. Insurers want to be notified before you start using your car for something like Uber or DeliverEasy, and some don't offer cover for these activities. Taking "reasonable care" is a standard requirement for most insurance policies. That means, if you leave your car unlocked with the keys in it, you might not have cover if someone steals it. This can be an issue in situations, such as where people leave their keys on the beach, while they go for a swim. Stevens' office said many travel insurance policies also had a requirement that people not leave items unattended, even for very short periods of time. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday. h] Related
The Independent
23-05-2025
- Health
- The Independent
Record £1.23bn paid out in pet insurance claims in 2024, says ABI
A record £1.23 billion was paid out in pet insurance claims in 2024, helping households cover the cost of veterinary treatment for unwell and injured animals, the Association of British Insurers (ABI) has said. Dogs led the pack, making up £933 million in claims, followed by cats at £232 million, and £61 million for other pets. The total for 2024 was 4% higher than 2023 and marks the third year in a row that total payouts by ABI members have surpassed £1 billion. The ABI said members received 1.8 million claims last year – equating to around 4,900 claims per day typically. Its data also indicates that a record 4.6 million pet owners took out insurance – a 3% increase since 2023 and a third (33%) higher than before the coronavirus pandemic in 2019. Many people acquired new pets during the coronavirus lockdowns. The average claim cost is £685, the ABI said, but some costs can be much higher. The price of treatment for elbow dysplasia, a common cause of forelimb lameness in young, large and giant breed dogs, can cost over £50,000, the body said. The average cost of care needed when a pet eats something they should not, whether it is food which is poisonous to them or a small household item, is around £4,000, the ABI said. Jonathan Purvis, senior policy adviser, general insurance at the ABI said: 'You can't pull a rabbit out the hat when it comes to paying for veterinary bills, so it's promising to see more people making sensible choices to protect themselves and their pets financially. ' Insurance provides peace of mind that costs will be covered if your pet is ill or injured.'
