Walnut Creek, July 09, 2021 (GLOBE NEWSWIRE) — olive®, the online leader for mechanical breakdown coverage, along with their customers, have invested insurance premiums into sustainable and socially responsible projects through their partners QBE.
Premiums4Good is an innovative initiative that sees QBE invest everyday premiums to make an extraordinary difference to communities across the globe. Through Premiums4Good, QBE invests customers’ premiums into investments that have additional social or environmental benefits at no extra cost to the customer.
These investments include social impact bonds, social bonds, green bonds and infrastructure, supporting a range of projects and programs that seek to create change. From renewable energy initiatives and sustainable infrastructure, to social services and programs to support vulnerable people and communities.
When customers purchase a plan with olive.com a portion of their plan is invested in Premiums4Good. Premiums4Good will have 25 percent of their premium invested in projects that help the environment or deliver direct, sustainable benefits to communities, such as those aimed at reducing homelessness.
QBE provides the insurance and claims services for each olive plan, which offers customers vehicle mechanical breakdown coverage with no waiting periods, fixed monthly pricing and a 100% online quote and fulfilment platform.
Paul Sherman, Chief Marketing Officer, olive: “olive is proud to be a part of the Premiums4Good program. Every year, a portion of our profits go directly to accomplishing the UN’s 17 Sustainable Development Goals, which aim to end poverty, hunger, and provide everyone with access to clean water. We love that our customers can feel good knowing that their plan further invests in worthy causes, at no cost to them.”
Shaqeel Hussain, Head of Automotive Protection, QBE: “Premiums4Good is a unique and innovative offering; we’re the first insurer that allows you to choose for your premiums to be invested in projects that benefit communities and the environment. By offering Premiums4Good through olive, we’re pleased to be able to reach even more customers that can take part in this great initiative.”
QBE currently has USD 904 million invested across 66 investments including social impact bonds, social bonds, green bonds and infrastructure – supporting a range of initiatives from renewable energy and sustainable infrastructure, to social services and programs to support vulnerable people and communities.
In North America, Premiums4Good investments have benefitted 22 securities as of 2020, including projects such as The Ford Foundation Social Bond.
Find out more about QBE’s Premiums4Good initiative and the projects it supports here.
For further information contact: Audra Neurauter, Marketing and Media Contact, olive, +1 303-435-4795, audra.neurauter@olive.com
For nearly 20 years the company and its affiliates have been providing mechanical breakdown coverage for vehicles. In 2020 olive was launched to take our coverage and products to the next level with a fully digital offering built to serve customers.
olive is a consumer informed product provider, seeking to offer the best product at the right time in a transparent manner. Their products, customer service, and reputation for excellence have earned us an A+ rating with the Better Business Bureau and they’ve partnered with some of the insurance industry’s largest companies to back them. They’re in the business of helping people live life covered.
About QBE Automotive Protection QBE Automotive Protection has developed a reputation for delivering successful insurance programs globally in North America, South America, Western and Eastern Europe, Asia, and the Middle East. Our success has been built on providing world-class solutions tailored for each individual client. We work with automotive manufacturers, distributors and dealerships and financial institutions to create tailor-made affinity insurance and warranty products
QBE Automotive Protection is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2020 was US$14.7 billion.
About Premiums4Good Premiums4Good is an innovative initiative that sees QBE invest everyday premiums to make an extraordinary difference to communities across the globe. Through Premiums4Good, we invest customers’ premiums into investments that have additional social or environmental benefits at no extra cost to the customer. These investments include social impact bonds, social bonds, green bonds and infrastructure, supporting a range of projects and programs that seek to create change. From renewable energy initiatives and sustainable infrastructure, to social services and programs to support vulnerable people and communities – Premiums4Good helps companies, together with their customers and partners, make a difference.
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For more information about Olive, contact the company here:
Olive Dan Stratford (925) 412-3141 dan.stratford@gogetolive.com 1981 N. Broadway Suite 210A Walnut Creek, CA, 94596
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
