These insurance professionals got an 8 per cent pay rise this year
Insurance executives have been enjoying larger pay rises this year but it’s not the CEO who’s benefitted the most.
According to the Executive and Professional Positions in Insurance Compensation Survey from consultancy TCS, chief executives’ compensation packages have increased by an average of 8.2 per cent in 2016 compared to a year earlier.
Others in the C-suite have received a 6.6 per cent boost but chief financial officers have seen their compensation package surpass that of the CEO with an 8.7 per cent rise.
“These increases are more robust than we’ve seen over the last couple of years.” according to Tom Bailey, project director for the EPPI survey. “As the economy improves, these companies are offering their employees higher annual salary increases in the form of market-oriented base salaries; and generous bonuses related to individual and company performance to combat the potential of employee defections to other companies.”
The survey uses data from 400 insurance companies of varying sizes and business lines.
US reports rise in road deaths after 5 decades of decline
There was a 7.2 per cent rise in traffic crash fatalities in 2015 compared to the previous year, reversing a trend for declining US road deaths which began 5 decades ago.
The National Highway Traffic Safety Administration said Monday that deaths in road crashes rose across almost all sectors of the population. There was a total of 35,092 fatalities in 2015.
"Despite decades of safety improvements, far too many people are killed on our nation’s roads every year," said U.S. Transportation Secretary Anthony Foxx. "Solving this problem will take teamwork, so we're issuing a call to action and asking researchers, safety experts, data scientists, and the public to analyze the fatality data and help find ways to prevent these tragedies.”
The data also shows the importance of wearing seat belts; almost half of those killed in passenger vehicles were not.
Thai insurer launches Pokésurance product
Asia Insurance has launched a product specifically to cover players of Pokémon Go.
The online-only Pokésurance product from the Thailand insurer follows the growth of the worldwide gaming craze which has led to a number of reported injuries from players distracted while trying to “catch ‘em all”.
Last month a Russian bank also launched a product offering the equivalent of $800 of coverage against personal injury for Pokémon addicts.
