Christopher Lewis, Author at Pay Per Touch

December 23, 2021

Intel Apologizes for Asking Suppliers to Avoid Xinjiang | Business News

By JOE McDONALD, AP Company Author

BEIJING (AP) — Intel Corp. apologized Thursday for asking suppliers to keep away from sourcing products from Xinjiang right after the world’s most important chipmaker joined other foreign models that facial area the fury of condition media more than issues of abuses by the ruling Communist Celebration in the primarily Muslim area.

Intel’s request was “arrogant and vicious,” explained World Moments, a newspaper released by the ruling celebration.

The reference to Xinjiang in a letter to suppliers was aimed at complying with U.S. regulations, Intel mentioned on its social media account. Washington has barred imports of products from Xinjiang above issues of mass detentions, compelled abortions and forced labor, which Beijing denies.

Rigidity more than Xinjiang is soaring as activists phone for a boycott of February’s Winter Olympics in Beijing, a prestige project for the ruling celebration. The White Dwelling says the United States won’t deliver dignitaries. Beijing on Wednesday barred four customers of a U.S. authorities spiritual freedom panel from China in retaliation for sanctions imposed by Washington on two Xinjiang leaders.

Political Cartoons

“So-referred to as compelled labor and other allegations on Xinjiang are fully lies concocted by anti-China forces,” said a overseas ministry spokesman, Zhao Lijian. He named on Intel to “respect facts and inform ideal from mistaken.”

Some commenters on the net, in which remarks the ruling occasion would not want are deleted by censors, named for a boycott of Intel products.

Intel processor chips are made use of in smartphones, desktops and other products and solutions.

The letter triggered “concerns amid our cherished Chinese associates, which we deeply regret,” claimed an Intel statement.

“We apologize for the hassle prompted to our respected Chinese shoppers, associates and the public,” the organization mentioned.

Other businesses including retailer H&M and shoe brand name Nike have been targeted for criticism and calls for boycotts right after expressing problem about Xinjiang or saying they would prevent using resources developed there.

The Chinese government rejects issues of abuses in Xinjiang, but organizations say they are not able to have out independent audits of factories and other workplaces.

Pop singer Wang Junkai, also regarded as Karry Wang, announced Wednesday he was pulling out of a offer to act as “brand ambassador” for Intel’s Main line of processor chips.

Wang’s transfer is a “fresh warning siren to Intel and other foreign companies that seek out to undermine China’s core passions whilst also seeking to revenue from the wide Chinese market,” explained Worldwide Times, which is recognised for its nationalistic tone.

Other singers, actors and other famous people have damaged ties with international manufacturers that have been specific for criticism more than Xinjiang, giving up thousands and thousands of bucks in cash flow to guard their professions from formal retaliation.

Xinjiang is a significant provider of silica used in earning computer chips. Intel has a chip manufacturing facility in Dalian in China’s northeast — its only a person in Asia and one particular of four exterior the United States. The corporation also has a investigation facility in Beijing.

Criticism by condition media might prompt individuals to look at products and solutions based on chips from other suppliers. But there are couple of choices. The include Highly developed Micro Devices Inc. of the United States for chips in desktop PCs and servers and Britain’s Arm Ltd. for smartphones.

The Communist Party has used billions of dollars to make a Chinese chip marketplace and lower reliance on the United States, Taiwan and other suppliers. But its producers are significantly from attaining the amount of precision needed for the most state-of-the-art chips from Intel and other international suppliers.

Intel, headquartered in Santa Clara, California, described 2020 revenue of $23.7 billion on income of $77.9 billion.

Smartphones and other products and solutions are intended to function with the characteristics of a unique chip from one particular provider. Switching would have to have a structure overhaul and tests.

Attempting to switch to alternate suppliers would be specifically really hard and highly-priced at a time when a global lack of chips because of to the coronavirus pandemic is disrupting creation of items from smartphones to autos.

December 23, 2021

Stock market news live updates: December 21, 2021

Markets rallied on Tuesday, closing higher in a major comeback from the biggest three-day drop since September 30.

In a turnaround from earlier losses, all three major indexes closed up more than 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} each, with the Dow gaining 560 points, or 1.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. The S&P also rose 1.78{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in an 81-point jump, while the Nasdaq Composite gained 360 points, or 2.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

The moves follow news of federal involvement to mitigate Omicron and imminent authorization of an at-home COVID-19 treatment after renewed fears around the variant spooked traders in previous sessions, igniting concerns that rising case numbers could derail economic growth and worsen inflationary pressures.

President Biden also announced in remarks Tuesday afternoon that he was considering a reversal of travel restrictions related to the Omicron variant of COVID-19. The U.S. implemented a ban on travel from South Africa along with seven other neighboring countries upon discovery of the strain.

The FDA is expected to authorize at-home treatment pills for the virus from Pfizer (PFE) and Merck (MRK). Shares of Pfizer closed down 3.39{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} at $58.95 a piece, while Merck traded at $75.43 per share, down 1.14{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

TCW Group Senior Portfolio Manager Diane Jaffee told Yahoo Finance Live earlier that despite immediate sell-offs that typically happen upon new variants or rising cases, the markets always resume their climb once investors get comfortable with vaccination rates, news of treatments and how cases are resolved.

“There is that fear happening in investors’ minds — rightly so,” Jaffee said. “But there is that underlying strength to the U.S. economy that cannot be denied.”

“On the virus side, ultimately what we’ve seen with prior surges and prior variants is that market sell-offs tend to be somewhat contained to a period of time, so we do expect that as we get better and better at dealing with some of these challenges from the economic and market perspective, things will likely settle down despite some of the public health challenges we have ahead,” Meera Pandit, a global market strategist at JPMorgan Asset Management told Yahoo Finance Live.

As Americans scramble to look for COVID-19 tests amid the recent surge, Rite Aid (RAD) has outlined plans to close underperforming locations in a bid to further improve its profits. The pharmacy said Tuesday that it will shutter up to 63 stores in coming months, with expectations to pad earnings before interest, taxes, depreciation and amortization by $25 million.

Shares of Rite Aid closed up 21{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} at $15.05 a piece.

Even with a holiday-shortened week of trading, investors are tuning into a packed economic release schedule, and new inflation data will be a central focus among investors in the coming days.

The Conference Board is set to release its latest consumer confidence index on Wednesday, expected to show an only modest uptick for the month of December.

The Bureau of Economic Analysis will also publish fresh prints on Personal Consumption Expenditures (PCE) Thursday, a key measure of price changes in the economy. Consensus data compiled by Bloomberg showed PCE is projected to climb at a 0.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} month-over-month rate in November.

—

4:01 p.m. ET: Stocks jump to end 3-day losing streak

Here were the main moves in markets as of 4:01 p.m. ET:

S&P 500 (^GSPC): +81.22 (+1.78{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,649.24
Dow (^DJI): +560.97 (+1.61{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,493.13
Nasdaq (^IXIC): +360.14 (+2.40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,341.09
Crude (CL=F): +$2.83 (+4.12{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $71.44 a barrel
Gold (GC=F): -$6.00 (-0.33{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,788.60 per ounce
10-year Treasury (^TNX): +6.8 bps to yield 1.4870{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

3:15 p.m. ET: Biden weighs easing of travel restrictions

President Joe Biden in remarks Tuesday afternoon said he was considering a reversal of travel restrictions related to the Omicron variant of COVID-19. The U.S. implemented a ban on travel from South Africa along with seven other neighboring countries upon discovery of the strain.

“Look, remember why I said we put the travel ban on—to see how much time we had before it hit here so we could begin to decide what we needed by looking at what was happening in other countries. And we’re passed that now,” the president said.

Markets each continued to extend gains ahead of close. The Nasdaq was up 323.88 points, or 2.16{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, and the Dow continued its climb, rising 1.62{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to 567.13 during intraday trading. The S&P 500 was up 1.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

—

12:35 p.m. ET: Stocks U-turn from three-day drop in intraday rally

Here’s how stocks were trading during the midday session as of 12:35 p.m. ET:

S&P 500 (^GSPC): +62.64 (+1.37{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,630.66
Dow (^DJI): +531.68 (+1.52{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,463.84
Nasdaq (^IXIC): +235.50 (+1.57{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,216.44
Crude (CL=F): +$2.57 (+3.75{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $71.18 a barrel
Gold (GC=F): -$7.30 (-0.41{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,787.30 per ounce
10-year Treasury (^TNX): +6.5 bps to yield 1.4840{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

—

10:39 a.m. ET: AT&T greenlights Microsoft acquisition of ad unit

AT&T (T) has agreed to sell its Xandr global advertising platform to Microsoft (MSFT). The telecom giant said in an announcement of the deal Tuesday that Xandr’s technology “strategically complements Microsoft’s current advertising offerings.” Further details about the acquisition were not immediately disclosed.

The move comes amid investor concerns that AT&T was struggling to pay off its debt after the firm poured billions into becoming a one-stop-shop media company, satellite TV provider and advertising platform. Xandr was created under former AT&T CEO Randall Stephenson following the $1.6 billion purchase of advertising company AppNexus in 2018.

Shares of AT&T were up 2.07{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in early trading to $24.69 a piece, while Microsoft traded at $320.05 per share, up 0.04{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

—

9:53 a.m. ET: Memory chip maker rallies after earnings beat

Shares of Micron Technology (MU) climbed after the maker of memory chips surpassed analyst estimates for second-quarter sales. The company is anticipating chip shortages will ease in the second half of 2022 and businesses are positioned to rebound.

The stock ticked up as much as 9.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, posting its biggest intraday percentage gain since April 2020, according to Bloomberg. Shares traded at $88.80 a piece in the early session, up 8.25{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} after market open.

Micron is “a compellingly growth at a reasonable price (GARP) beneficiary of secular data center, 5G, metaverse, auto trends and a catch-up candidate after underperforming” BMO Capital Markets wrote.

—

9:30 a.m. ET: Markets rebound from three-day sell-off

Here were the main moves in markets as of 9:30 a.m. ET:

S&P 500 (^GSPC): +39.48 (+0.86{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,607.50
Dow (^DJI): +299.00 (+0.86{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,231.16
Nasdaq (^IXIC): +153.45 (+1.02{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,134.40
Crude (CL=F): +$1.77 (+2.58{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $70.38 a barrel
Gold (GC=F): +$0.40 (+0.02{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,795.00 per ounce
10-year Treasury (^TNX): +5.1 bps to yield 1.4700{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

—

7:00 a.m. Tuesday ET: Higher futures point to ‘seesaw market’ action

Here were the main moves in markets ahead of Tuesday’s open:

S&P 500 futures (ES=F): 45 points (+0.99{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,603.50
Dow futures (YM=F): 319 points (+0.92{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 35,132.00
Nasdaq futures (NQ=F): 176.5 points (+1.13{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,798.00

—

6:00 p.m. Monday ET: Futures contracts sink

Here were the main moves ahead of the overnight trading session:

S&P 500 futures (ES=F): 13.75 points (+0.30{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,572.25
Dow futures (YM=F): 102 points (+0.29{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 34,915.00
Nasdaq futures (NQ=F): 69.75 points (+0.45{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,691.00

—

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

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December 23, 2021

Survey: 2 In 3 See No Boost In Personal Finances In 2022

Two-thirds of U.S. customers do not hope their personalized funds to enhance in 2022, with somewhat far more than 50 percent of this team citing inflation as the barrier to a improved cash scenario, in accordance to Bankrate’s December Economic Stability Index. Inflation surged 6.8 per cent in November 2021, placing it at a 39-calendar year significant as prices climbed for food stuff, housing and electrical power.

“Inflation problems have dragged client assurance to a 10 years low and is the best purpose Us residents don’t count on their finances to improve, and specifically to get even worse,” states Greg McBride, Bankrate’s main economic analyst. “This emotion goes significantly further than gasoline selling prices, as inflation has broadened out and individuals see larger rates at each and every turn.”

Other prime explanations presented by those people who do not expect financial advancement in 2022 involve the ongoing COVID-19 pandemic, stagnant or declining wages, personal personal debt and switching fascination fees. Of the a single-3rd of the private finance study respondents who be expecting their income predicament to increase in the coming calendar year, 46 p.c attribute their optimism to earning extra income at work and 36 per cent chalk it up to obtaining considerably less personal debt.

Vital results:

COVID-19 is still noticed as a economical impediment in 2022

The ongoing COVID-19 pandemic is one of the main explanations individuals be expecting their personal finances not to enhance in 2022, in accordance to the survey, which was executed immediately after the omicron variant emerged. With the country about to enter Yr A few of the pandemic, growing rates and provide chain problems are brings about for worry, and some individuals go on to put off fiscal milestones as a result.

The omicron variant could unfold much more simply than other variants, and the usefulness of vaccines versus such new variants is but to be decided, the CDC stories. It also remains to be seen how strongly omicron will influence the economic climate, specialists say.

Other individuals blame political partisanship for money woes

Political partisanship is a cause quite a few U.S. consumers foresee their funds won’t improve in 2022, the survey found. People who envisioned their revenue problem to worsen or stay the identical laid the blame on political leaders in Washington at a charge of 57 {1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} and 25 p.c, respectively.

In latest days, the Senate voted to progress a bill that would enable the lifting of the financial debt ceiling, a evaluate that could continue to keep the country from defaulting on its financial debt. If both of those political parties fall short to agree on the phrases of a invoice that would improve how considerably funds the government is authorized to borrow, the U.S. financial state could be in jeopardy, analysts say.

Monetary optimism differs by age and location

Optimism about enhanced funds in 2022 is greatest amongst Technology Z, those born from 1997 to 2012, and diminishes with every successive more mature era, based on Bankrate’s study findings.

Gen Zers and millennials who said they felt optimistic about 2022’s finances most generally attributed it to producing much more funds at perform, though child boomers who felt constructive cited acquiring fewer financial debt.

Between these who felt their economic cases would worsen in 2022, inflation was cited prominently as a cause by Era Xers (73 percent) and baby boomers (79 p.c), as opposed with a more compact proportion of millennials (53 percent).

Amounts of economic optimism also assorted by geographic area, with Westerners possessing the most optimistic outlook and Midwesterners owning the minimum optimistic.

West	40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}
South	32{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}
Northeast	30{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}
Midwest	28{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

U.S. customers are decided to cut down financial debt

When it will come to economical objectives, 20 {1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of survey respondents most usually stated paying out down debt as a priority. Beefing up crisis personal savings was cited by 14 per cent, though sticking far better to a price range was cited by 13 {1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. Other goals cited by respondents involve preserving for retirement, investing a lot more cash, acquiring a larger paying out job and acquiring a house. Just about one particular-fifth of respondents, nonetheless, said they have no economic objectives.

“Paying down debt before fascination rates start out to increase is a prudent move and the most cited financial intention for 2022,” McBride suggests. “Saving much more for emergencies, budgeting expending better, and preserving more for retirement are all markings that also seem on the pathway to financial stability.”

How to pay back down financial debt in 2022

One-fifth of all those surveyed determined shelling out down debt in the coming calendar year as a fiscal precedence. In this article are some techniques you can acquire to get began:

Stick to a price range. Build a monthly funds if you never have 1 previously. Consist of a line product for having to pay off personal debt. After you’ve shown your other every month costs like housing, utilities, car or truck payments and food items, you’ll have an notion of how considerably you can devote to personal debt repayment.
Put cash into an unexpected emergency fund. Most Americans’ most important regret is not conserving enough for emergencies. Possessing income in the bank for often-surprising bills like health-related expenses, equipment purchases or car repairs can help save you from heading deeper into debt.
Cancel unused memberships. Evaluate credit card statements for items you no longer use such as streaming providers, newspaper subscriptions and gym memberships. These costs all include up, and you might be shocked at how significantly you can preserve each individual month by getting rid of them.
Spend less on food. Fairly than substantially lessening your cafe shelling out to almost nothing, try out having at property extra usually. Also, planning meals in progress can support you keep away from paying excessive amounts on takeout for lunch or meal.

Methodology

Bankrate commissioned YouGov PLC to conduct the survey, which was carried out on line Nov. 29-Dec. 1. The total sample sizing was 2,450 older people. Figures have been weighted and are agent of all U.S. grown ups.

December 23, 2021

9 Best Travel Insurance Companies of 2021 | Personal-finance

Travel Insurance and the COVID-19 Pandemic

Though it was unclear in early 2020 how the travel-insurance industry would cover COVID-19, insurance companies (and travelers) now have a fairly consistent way to handle coronavirus-related travel insurance claims.

While there are variations in policy by company, this is how most travel insurance companies are managing the pandemic:

Trip cancellation is covered if you or a close family member gets sick with COVID-19, but not if you cancel or abort a trip for fear of contracting the virus while traveling.
Cancellation may be covered if the U.S. State Department issues a travel warning for your destination.
Cancel for any reason insurance may not necessarily cover cancellation for reasons related to COVID-19. Compare policies for their terms.

Check out Money’s coverage for more travel insurance tips and find out how to get the best post-pandemic cheap travel deals.

If you need to be protected while away on a trip, Travel Insurance has you covered.

Travel is full of unexpected events. Stay safe with a Travel Insurance policy. Click below to find out more today.

Get a Free Quote

Travel Insurance Guide

This guide provides a brief overview of what travel insurance is, how it works and how to choose the best travel insurance policy for you and your trip.

What is travel insurance for?

Travel insurance, also known as trip insurance or trip protection, is a type of insurance that will reimburse you if you need to cancel your trip or interrupt it early. It can also cover you if you get sick or have an accident during the trip.

Most travel insurance is sold for single-trip plans, meaning policies only cover whatever happens during the dates of the trip. However, multi-trip plans or annual plans will cover you whenever you may travel over an extended period making them ideal for frequent travelers.

What does travel insurance cover?

If you are looking to buy travel insurance you may have noticed many different types of coverage options and benefits. Ahead, we list some of the standard coverage found in travel insurance plans and common add-ons.

Trip cancellation insurance

Travel insurance will refund up to 100{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the prepaid, non-refundable travel costs as long as the reason for cancellation is covered under the policy, and the trip has not yet begun.

Trip Interruption

If the trip has already started, you are typically reimbursed for the unused portion of the trip, as well as expenses you may incur to get back home, such as last-minute flights. Such interruption insurance may have a coverage limit, such as 150{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the cost of the interrupted trip.

Travel Delays

Some insurance providers will also reimburse you for expenses that arise from travel delays, such as providing a daily amount for meals or lodging during the wait. Other companies cover you for airport delays arising from missed connections between flights. They will provide reimbursement for any flight change fees or additional expenses incurred while trying to catch up on your travel plans.

Emergency medical expenses

Travel insurance is also useful if you have a medical emergency during your trip. Benefits for medical expenses can range from $15,000 to $50,000; in some cases, additional coverage can be purchased as needed during the trip.

For serious conditions that require you to seek medical assistance outside of your travel area, you can also get coverage for emergency medical evacuation. This benefit will pay if you need to be evacuated to the nearest medical facility or even repatriated to a facility back in your home country. The maximum benefits usually range between $100,000 to $500,000 but can be as high as $1,000,000.

Baggage and personal effects

This coverage is intended to assist you if your luggage gets lost or is delayed during your trip. With baggage delay coverage, you must typically wait between two to six hours for the baggage to arrive before you can file a claim. The coverage includes reimbursement for replacement items you purchased during the delay, up to the policy limit.

If your bag is lost, travel insurance can reimburse you up to the policy limit, which is usually anywhere between $500 to $1,000. Claims typically require receipts on purchases or a list of items in the luggage and may be subject to a deductible. We recommend insured travelers make a list of items held in luggage and keep it on their person while traveling, in case they need them to make a claim.

Worldwide assistance

Insurers should have24/7 customer service available in most or all of the countries to which you’re traveling. Before leaving home, take note of the local contact information you need, including phone numbers and addresses and keep the information handy with your other travel documents.

Some insurers supplement customer service for their insurance with other emergency coverage. These may include 24/7 hotlines that allow you to reach multilingual medical services, sometimes via video, to provide medical advice and to refer you to local medical staff if in-person care is required.

Popular travel insurance add-ons

If your coverage needs go beyond what a basic travel insurance policy provides, a variety of add-ons or riders allow you to increase benefit limits and cover activities that may be excluded from standard policies.

Common add-ons include:

Cancel for any reason coverage: Such coverage allows you to cancel your travel plans for almost any reason, and get reimbursed for your pre-paid travel costs.
Pre-existing medical condition waiver: Most travel insurance companies won’t cover pre-existing conditions under the basic emergency medical expenses coverage. You can purchase a separate rider to cover your pre-existing conditions, subject to some limitations.
Rental car insurance: This additional coverage will pay for damages to the rental car and injuries to yourself or others should an accident occur while traveling.
Adventure sports coverage: This rider will cover injuries or losses caused by participating in adventure sports such as skydiving or bungee jumping. Claims that arise from these activities are typically excluded from basic policies.
Identity theft protection: This optional coverage can help if you lose your passport and other identification, credit card or other important documents. (To learn more about identity theft, visit our guide on the best identity theft protection).

What is not covered by travel insurance?

Among the most common travel insurance exclusions are pre-existing medical conditions, injuries caused by extreme sports and theft/loss of some personal items such as electronic devices and jewelry.

With most travel insurance policies, you may only be covered if you cancel your trip for approved reasons like a serious illness or a death in the family. If you want the flexibility to cancel for any reason, you’ll have to purchase additional CFAR coverage.

If you need to purchase travel insurance while pregnant, you should be aware that the policy may not cover all pregnancy-related conditions. If you give birth during your trip, the medical emergency coverage may not cover the expenses of childbirth. On the other hand, you may be covered if an unexpected complication in your pregnancy arises during the trip.

Additionally, most travel insurance policies won’t pay for injuries that happen while you’re intoxicated with drugs or alcohol, even if the intoxicating substance is legal to use at the destination.

Finally, keep in mind that insurance companies may change their coverage at any time. As happened when the coronavirus pandemic began in 2020, many companies temporarily excluded COVID-19 infections from coverage and might do so again in the future. The insurer always has the final say on what is covered and what isn’t so review your policy documents thoroughly before the start of the trip.

Does travel insurance cover mandatory COVID testing?

In general, travel insurance does not cover the cost of COVID-19 testing, as required by the Centers for Disease Control for passengers entering the United States, unless the test is directed by a physician.

According to the CDC, passengers will be required to present a COVID test before departure from a foreign destination to the U.S. The agency also recommends getting tested 3 to 5 days after arrival, and quarantine for 7 days after the trip.

Some medical insurance plans cover COVID-19 testing, though, so check with your insurer to see if these are covered. Low or no-cost COVID testing may also be available at a health center near you.

How much is travel insurance?

The cost of travel insurance varies, but the average premium is about 5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the cost of your trip with the average American spending $95 on travel insurance for a one-week overseas trip, according to travel insurance data from a study by AdvisorSmith.

Factors that affect the cost of insurance include the value of the trip, the age and number of travelers, the duration of your itinerary and the coverage options you select.

Many insurers offer group travel plans which can provide better value when traveling with a large party.

If you’re a frequent traveler, it can pay to purchase annual travel insurance plans so you don’t need to buy a separate policy every time you travel.

What is cancel for any reason travel insurance?

Cancel-for-any-reason (CFAR) coverage is offered as an upgrade to certain policies and provides a partial refund when canceling your trip, regardless of what caused your change of heart. Among the covered reasons is “fear of travel,” which is excluded under a basic travel insurance policy.

Not every travel insurance company offers a CFAR upgrade. This policy must be purchased within 14 to 21 days of the first trip booking and adding it to your policy may increase your total travel insurance bill by about 50{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

Companies that offer CFAR travel insurance include:

AIG Travel Guard
C&F Travel Insured
Generali Global Assistance
Arch RoamRight
Seven Corners
TravelSafe
Trawick International
USI Travel Affinity Insurance Services
John Hancock
HTH Worldwide

Does my credit card have travel protection?

Credit cards may include some travel protection that duplicates that of an insurance policy, usually covering the costs of tickets and reservations when the card is used to purchase them. But for most credit cards, the costs may be partial and benefits may be capped. Review the terms and conditions of your credit card travel protection plan to learn about what is covered before relying solely on it for travel insurance. Visit our guide on the best travel credit card for more information on how your credit card can help you travel smarter.

How to choose the right travel insurance policy

To find and pick the best travel insurance policy for your needs, follow these simple steps:

Identify your travel requirements to ensure that you’re not paying for something you don’t need.
Verify whether the policy covers travel to your chosen destination.
If you have a pre-existing medical condition, check whether it’s covered under the medical coverage of the policy you’re contemplating. If it’s not, you may need to purchase additional coverage.
Find out what kind of assistance you can expect from the travel insurance policy should your belongings be stolen.
Check the policy’s fine print before buying to ensure that it covers the activities you have planned for your trip.
Choose a policy that provides emergency assistance services.
Compare multiple quotes before making your final purchase.

Travel Insurance FAQ

What is travel insurance?

Travel insurance is a type of policy that reimburses you for certain expenses and losses you experience while traveling. You must purchase the coverage before the trip, and commonly covered perils include having to cancel your trip due to an illness, or suffering a medical emergency during the trip.

What does travel insurance cover?

Travel insurance policies cover unforeseen losses and expenses while traveling. Policies regularly include coverage for trip cancellation and trip interruption, emergency health care and car rental insurance, as well as reimbursement for lost baggage and costs related to trip delays. Some companies include coverage for trip specifics, such as extreme sports coverage or professional photo and video equipment.

How much is travel insurance?

The cost of travel insurance depends primarily on the cost of your trip. Typically, the premium is around 5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of your total trip cost. The cost may also vary depending on your age, the number of travelers, your destination and the additional coverages you select.

What is trip interruption insurance?


Trip interruption coverage is a component of travel insurance. This coverage will pay out if you need to interrupt your trip and go home early for a covered reason. The insurance company will reimburse you for the unused portion of the trip and help you with additional expenses you incur to get home.


These expenses will only be covered, however, if you cancel for one of the reasons covered by the policy. Examples of covered reasons are the serious illness or death of the policyholder or of another traveler on the policy or a close relative. A natural disaster at your destination is also a covered reason.

How much travel insurance do I need?


Most travel insurance companies offer multiple plans suited for a variety of needs. The most basic plans include only trip cancellation coverage but no post-departure benefits. Premium plans include benefits before and during your trip.


To calculate your insurance need, take stock of what losses -- if any -- you would incur in the event you need to cancel the trip in advance of departure. (Check, for example, whether your airline has reinstated cancellation fees; these have been widely suspended for trips booked during the  pandemic.)


Then, consider the risk of incurring injury during the trip. That likelihood may well depend on where you're going and what you will be doing. If you plan on taking part in high-risk sports, for example, you'll want to purchase additional coverage for these activities, since they're usually excluded from base coverage.

How do I get travel insurance?


Most travel insurance companies sell their policies online. If you make your travel arrangements online through a fare aggregator such as Expedia, you may be offered a travel insurance policy when you check out. (It may or may not be the best value for you, of course.)


You can also purchase a policy through an online marketplace that shows you quotes from many companies. This is a good option if you want to see what different companies are offering and compare their prices.

How We Chose the Best Travel Insurance Companies

In ranking the best travel insurance options, we used the following factors to evaluate and compare each company:

Plans and coverage: We looked for insurers with a variety of plans and the capability to customize the policy with upgrades. Special consideration was given to companies offering unique add-ons, such as extreme sports coverage and coverage for lost gear or equipment.

Ease of use: We considered how easily you could request a quote and understand the policy information. Most of these companies either offer just a few plans to keep things simple or provide an easy-to-view comparison page where you can quickly spot the differences in each plan.

Customer service and support: Factors like a 24/7 hotline and an established network of global resources to help with emergencies are some of the elements that indicate a company is well-prepared to respond to customer needs. Companies with mobile apps and multiple ways of accessing customer support also earned points, as did those with added perks like concierge and translation services.

Reputation: To rate each company’s reputation, we evaluated factors like customer feedback and ratings, years in business, and financial stability gauged by their ratings on all major credit rating agencies, including Moody’s and AM Best.

Summary of Money’s Best Travel Insurance of 2021

December 22, 2021

The top ESG jobs in banking and finance, and what they entail

With as several as 450 fiscal institutions, banking institutions, insurers and asset managers committing to devote $130 trillion of personal money to help the entire world turn into a net-zero carbon emitter by 2050, ESG opportunities in the economical companies sector will abound for many years to appear. $130 trillion approximately equals 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of all asset beneath administration, globally.

The deal was brokered by former Financial institution of England governor Mark Carney, who assisted deliver together financial establishments from 45 unique nations at the the latest United Nation’s COP26 Local weather Adjust Summit in Glasgow. From now on, money companies corporations will have to challenge a lot more green bonds, publish required sustainability disclosures, have out appropriate climate hazard surveillance, enhance their world wide ESG reporting expectations, as perfectly as strengthen the regularity of details in fields these as local weather alter.

This international exertion will need an military of bankers, experts, researchers, quants, portfolio managers, gross sales teams and marketing officers, amid numerous other individuals. This signifies that a regular economics and fiscal track record might not be ample candidates will have to sharpen their sustainability know-how to obtain the a lot of options in the industry (really do not pass up our new post on ESG accreditations).

As ESG evolves in monetary companies, the kinds of work opportunities that are on offer you are proliferating. These are some of the crucial catagories:

Sustainable Finance Investment decision Banker and Environmentally friendly bonds specialists:

In purchase to assist companies and governments all over the earth in their Net-Zero transitions, expenditure financial institutions will have to market eco-friendly bonds to finance cleaner energy jobs or subsidise an highly-priced changeover out of a lot more polluting power resources. The eco-friendly bond market has reached documents this calendar year: put together labelled issuance of Inexperienced, Social, and Sustainability, Transition, and Sustainability-joined bonds arrived at USD 767.5bn in the first three quarters of 2021, bringing the overall cumulative labelled issuance to USD 2.3tn. Bankers doing the job on main issuance will have to be properly versed in their ESG and SDG (Sustainable Advancement Aim-joined bonds) to operate on their covenants and satisfy investors’ prerequisites.

ESG Protection Bankers:

Investment decision banking Protection bankers, in cost of client interactions, will also have to action up their recreation and ESG awareness to aid go the concept to consumers – for instance, some SDG (Sustainable enhancement targets) bonds will spend a increased coupon if the sustainability targets are satisfied (just like an inflation-connected bond will pay far more to compensate for inflation). Protection bankers will also will need to embrace the world-wide Net-Zero objective in get to engage with an more and more ESG-acutely aware shopper base.

ESG Portfolio Manager (PM) – Integration:

Asset administration corporations are employing ESG-expert PMs to assistance governments and companies attain their Net-Zero transitions. Far more than blocking non-ESG issuers, PMs are in search of engagement to incentivize greener or socially liable guidelines that deliver optimistic improve. This, for illustration, may perhaps incorporate a Residential Mortgage loan-Backed Securities (RMBS)-specialised PM who will assistance developers make more sustainable and inclusive housing jobs. ESG PMs may possibly also specialise in deciding upon the most effective sustainable infrastructure initiatives to invest in, or in negotiating new social targets with governments of nations around the world whose humanitarian methods have been questioned.

ESG Merchandise Specialist:

Asset professionals are also transitioning to their have sustainability targets. But in advance of ESG factors are very well integrated into the financial commitment conditions of a organization, some organizations are building an ESG variation of their most effective-acknowledged money, hoping that the two will merge the moment the ESG standards integration method is entire. This will require considerably clarification to customers, a part that ESG Merchandise Strategists or Specialists will have out.

Chief ESG Officer:

Consultancy and accountancy companies, charities and trade finance bodies will require leaders to winner their ESG attempts – or chance shedding purchasers or lacking out on ESG alternatives. From regulatory developments to facts analysis, tax benefits and local climate change hazard circumstance analysis, the ESG champion will established the sustainable method of a business.

Head of ESG Knowledge Products and services:

As an personnel or as a marketing consultant, local weather alter and other sustainability variables will call for accurate information in purchase to benefit financial investment tasks and evaluate their hazard. From temperature industry experts to social researchers, ESG-acutely aware quants are sought to create designs that evaluate profitability and chance.

ESG analyst:

Despite the fact that the title is far more generic, substantial and nicely-acknowledged organisations these types of as the United Nations and the Intercontinental Financial Fund are frequently on the lookout for ESG specialists to assistance them watch the world wide Web-Zero changeover. The “analyst” job might incorporate an entry-level analysis assistant role, or a PhD-educated professional in deforestation. NGOs and governments are also possible employers.

If anybody is nonetheless thinking that ESG is a short term fashion, just kind the acronym on eFinancialCareers’ occupation look for box.

Download our whole wage and reward survey right here.

Have a confidential story, tip, or comment you’d like to share? Get hold of: sbutcher@efinancialcareers.com in the initially instance. Whatsapp/Sign/Telegram also accessible (Telegram: @SarahButcher)

Bear with us if you leave a remark at the bottom of this short article: all our opinions are moderated by human beings. In some cases these human beings may well be asleep, or absent from their desks, so it may possibly just take a even though for your remark to show up. At some point it will – until it’s offensive or libelous (in which case it will not.)

Image by Kunal Shinde on Unsplash

December 22, 2021

Secret Service: Nearly $100B Stolen in Pandemic Relief Funds | Business News

Secret Service: Nearly 0B Stolen in Pandemic Relief Funds | Business News

By JENNIFER McDERMOTT, Involved Press

Virtually $100 billion at least has been stolen from COVID-19 aid courses set up to support businesses and folks who shed their jobs due to the pandemic, the U.S. Key Assistance explained Tuesday.

The estimate is dependent on Secret Provider cases and info from the Labor Office and the Smaller Company Administration, explained Roy Dotson, the agency’s national pandemic fraud recovery coordinator, in an job interview. The Key Assistance didn’t involve COVID-19 fraud cases prosecuted by the Justice Department.

Although about 3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the $3.4 trillion dispersed, the quantity stolen from pandemic benefits plans demonstrates “the sheer size of the pot is attractive to the criminals,” Dotson said.

Most of that figure arrives from unemployment fraud. The Labor Section described about $87 billion in unemployment advantages could have been compensated improperly, with a sizeable portion attributable to fraud.

Political Cartoons

The Mystery Assistance claimed it has seized more than $1.2 billion even though investigating unemployment insurance and personal loan fraud and has returned much more than $2.3 billion of fraudulently attained funds by doing the job with monetary partners and states to reverse transactions. The Top secret Services claims it has a lot more than 900 active prison investigations into pandemic fraud, with circumstances in every single condition, and 100 people have been arrested so significantly.

The Justice Division stated very last week that its fraud part had prosecuted over 150 defendants in a lot more than 95 prison situations and experienced seized in excess of $75 million in funds proceeds derived from fraudulently attained Paycheck Security Software resources, as properly as several real estate houses and luxury products acquired with the proceeds.

A person of the very best-recognized packages developed by way of the March 2020 CARES Act, PPP offered small-fascination, forgivable financial loans to modest organizations battling to meet up with payroll and other expenses for the duration of pandemic-relevant shutdowns.

Legislation enforcement early in the pandemic targeted on fraud linked to personalized protective machines, the Secret Company stated. Authorities have now prioritized the exploitation of pandemic-linked aid since the federal funding through the CARES Act attracted the notice of individuals and organized criminal networks throughout the world.

“Can we quit fraud? Will we? No, but I feel we can definitely prosecute all those that need to have to be prosecuted and we can do our best to recover as much fraudulent pandemic funds that we can,” said Dotson, who is the Magic formula Service’s assistant specific agent in charge of the agency’s area office in Jacksonville, Florida.