Staff Reports – Page 3 – InsuranceNewsNet

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Staff Reports

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Foresters Financial Partners With dacadoo On Wellness Technology Platform

September 13, 2021

Foresters Financial today announced the launch of Foresters Go, a wellness platform that integrates wearable app-enabled technology and behavioral science to inspire and reward healthy lifestyles.

AIG CEO Peter Zaffino To Add Chairman Title

September 8, 2021

American International Group today announced that Peter Zaffino, president and CEO, will assume the additional role of chairman of the Board of Directors, effective Jan. 1, 2022.

Wisconsin Insurance Commissioner Reports August Enforcement Actions

September 8, 2021

The Wisconsin Office of the Commissioner of Insurance released August’s administrative actions on Tuesday.

Zurich North America Names Head of Distribution For U.S. Middle Market

September 8, 2021

Zurich North America has named Carl Sutter Head of Distribution for U.S. Middle Market.

September 2, 2021

Florida Man Pleads Guilty In $73M Scam To Defraud Medicare

A Florida man pleaded guilty yesterday in the Southern District of Florida for his role in a $73 million conspiracy to defraud Medicare by paying kickbacks to a telemedicine company to arrange for doctors to authorize medically unnecessary genetic testing.

SEC Charges Crypto Lending Platform, Top Execs In Alleged $2B Fraud

September 2, 2021

The SEC announced Wednesday that it has filed an action against BitConnect, an online crypto lending platform, its founder Satish Kumbhani, and its top U.S. promoter and his affiliated company, alleging that they defrauded retail investors out of $2 billion.

Michigan Regulators Say Aflac Customer Submitted $47K In Phony Claims

September 1, 2021

Lorie Bevins, of Plainwell, was arraigned on August 26 in 57th District Court on four counts of submitting false health insurance claims.

September 1, 2021

Life Insurance Premium Up 21% In The Second Quarter, LIMRA Reports

In the first six months of 2021, the total number of policies sold increased 8%, compared with prior year results. This is the highest policy sales growth recorded since 1983, according to LIMRA’s recent survey.

Darryl Button Named President And CEO Of Pacific Life

August 25, 2021

Pacific Life Insurance Company announced today that Darryl Button has been named CEO-Elect and will become president and CEO of Pacific Life, succeeding chairman, president and CEO Jim Morris, on April 1, 2022, upon Mr. Morris’ retirement.

Michigan Producer Wrote ‘Fraudulent Certificates Of Insurance,’ Docs Say

August 24, 2021

A Michigan producer issued fraudulent Farm Bureau insurance policies, regulators said Monday in a final cease-and-desist order.

Pair Of Iowa Men Charged With Felony Insurance Fraud

August 18, 2021

A pair of Iowa men were charged recently with trying to defraud insurers.

Connecticut Releases Survey On Climate Risk In The Insurance Industry

August 16, 2021

The survey allows insurers to report on climate-related risks and opportunities that provide the Department with additional information to evaluate insurance company risks and activities.

CareFirst BlueCross BlueShield Requires Workforce To Be Vaccinated

August 16, 2021

CareFirst BlueCross BlueShield (CareFirst), a not-for-profit and the largest healthcare company in the mid-Atlantic region, announced it will make COVID-19 vaccinations a requirement for its workforce, Boards of Directors, and guests.

Michigan Reaches Deal To Cover Uninsured Vehicle Accident Victims

August 16, 2021

A new Michigan Department of Insurance and Financial Services agreement ensures unlimited Personal Injury Protection (PIP) medical coverage for uninsured vehicle occupants and pedestrians who were injured in auto accidents prior to the July 2, 2020 implementation of Michigan’s new auto insurance law.

August 16, 2021

New York Advisor Charged With Defrauding Clients Of $8 Million

Authorities say Martin Ruiz misappropriated more than $8 million of client funds, transferring those funds through a series of entities Ruiz also controlled, and spent the vast majority of the funds on personal expenses.

August 13, 2021

NY Reports 3.7% Health Insurance Rate Hike For Individual Market

The New York State Department of Financial Services reduced health insurers’ 2022 requested rates to a 3.7% hike, despite health care costs increasing to pre-pandemic levels.

Michigan Issues Fines In Alleged Title Company Insurance Fraud

August 12, 2021

Michigan regulators issued a final cease-and-desist order Wednesday against Cedar Hawk Title Company and its employees, Victoria Lansen and Tabria Josey, forbidding further violation of the Michigan Insurance Code.

August 11, 2021

LIMRA Sees A More Robust 2021 Life Insurance Sales Forecast

The government response to COVID-19, coupled with stronger economic conditions and unprecedented consumer interest in life insurance, have led LIMRA to improve its 2021 sales forecast.

Former Trinity Healthshare Ministry Files For Bankruptcy

August 10, 2021

Sharity Ministries, Inc., formerly Trinity Healthshare, Inc. has filed for bankruptcy and has ceased operating, Connecticut Insurance Commissioner Andrew N. Mais announced today.

August 10, 2021

California Charges 2 With 36 Counts Of Felony Insurance Fraud

California regulators have charged two people with 36 felony counts of insurance fraud and grand theft for collecting long-term health care benefits allegedly as a result of fraudulent claims.

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