Newswires

AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of“ aa-” of DB Insurance Co., Ltd.. The outlook of these Credit Ratings is stable. The ratings reflect DBI’ s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favourable business profile and appropriate enterprise…

AM Best has revised the Long-Term Issuer Credit Rating outlook to stable from negative and affirmed the Financial Strength Rating of B and the Long-Term ICR of“ bb+” of WAICA Reinsurance Corporation PLC. The outlook of the FSR is stable. In addition, the company’ s investment risk reduced in 2023, driven by moderate investments made in bonds of excellent credit…

The Iowa Department of Health and Human Services said it plans to award a new statewide Medicaid contract to Iowa Total Care, a subsidiary of St. Louis- based health insurance provider Centene. According to a Centene news release, Iowa Total Care plans to continue to provide coordinated physical, behavioral and long-term care to more than 218,600 Iowa Medicaid,…

Jackson National Life Insurance Company ®, the main operating subsidiary of Jackson Financial Inc. i, has been honored by Datos Insights with a 2024 Insurance Technology Impact award for its Registered Index-Linked Annuity Digital Ecosystem. “We are honored to receive this recognition from Datos Insights, which highlights the work our teams have done to…

At the start of 2024, Democratic lawmakers led California to become one of only two states in the nation to offer state-funded health insurance to all low-income undocumented immigrant Californians. California also has not gone as far as Gov. Gavin Newsom pledged when he ran for office in 2018.

Sep. 2— A first-of-its kind federal grant will be used to reduce flood risk and rebuild lost wetlands in an area of St. Bernard Parish where homeowners have had to file repeated flood insurance claims. And state and local officials are touting FEMA's $14.8 million share of that project as the first time the agency has used its Flood Mitigation Assistance grant…

The governor did not say who is under consideration to replace Gregg, who resigned effective immediately Tuesday to take a job as the incoming president and chief executive officer of the Iowa Bankers Association. The group advocates for, provides resources to and lobbies on behalf of Iowa banks. Until Reynolds makes an appointment later this fall, Iowa Senate…

The governor did not say who is under consideration to replace Gregg, who resigned effective immediately Tuesday to take a job as the incoming president and chief executive officer of the Iowa Bankers Association. The group advocates for, provides resources to and lobbies on behalf of Iowa banks. Until Reynolds makes an appointment later this fall, Iowa Senate…

Raise your hand if you know what "the Fed" does, besides its responsibility for deciding the interest rates that ultimately affect our payments for mortgages, cars, credit cards and more. Few know how the Fed operates, though everybody cares deeply about their pocketbooks. However, the chairman of the Fed's Federal Open Market Committee, Jerome Powell, said if labor…

OCONOMOWOC— Health insurance costs are increasing for the city of Oconomowoc, but the Common Council approved a plan Tuesday that would reduce the financial burden on city employees. Like many municipalities, Oconomowoc gets the insurance it offers to its employees through the state of Wisconsin’ s Public Employers Group Insurance Program.

Jennifer Gong-Gershowitz, aimed at addressing critical gaps in Illinois' health insurance, has been signed into law by the governor. "This new law is a common sense solution resulting from the collaboration between the Illinois State Dental Society and the Insurance industry. The legislation started when an Illinois resident undergoing treatment for jaw…

But the cost overrun forecast does not come as a surprise to all officials, given that the General Assembly ignored warnings last spring that the program needed far more dollars than they planned to budget. But the Democrat-controlled General Assembly opted not to adjust a preliminary $26 billion state budget it had approved for 2024-25, declining to add…

Employers added a modest 142,000 jobs, up from a scant 89,000 in July, the Labor Department said Friday. “The labor market is weakening,” said Eugenio Aleman, chief economist at Raymond James Financial.“ It is not falling apart, but it is weakening.”. The cooling jobs figures underscore why the Federal Reserve is set to cut its key interest rate when it next meets Sept….

—Global shares mostly declined Friday ahead of a highly anticipated U.S. jobs report that’ s expected to influence how the U.S. Federal Reserve will move on interest rates. U.S. shares were set to drift lower with Dow futures down 0.3% at 40,691.00. Trading was cautious in Asia amid lingering worries about a possible recession in the U.S. The job market report, set for…

Major Asia-Pacific reinsurance companies saw their composite’ s return on equity surge to 9.2% from 0.1% under IFRS 17, supported by a more stable investment environment and benign catastrophe activity, according to a new AM Best report. China still faces distinct challenges, though, as the country’ s post-COVID recovery remains weak. AM Best’ s composite of…

2024 SEP 05– By a News Reporter-Staff News Editor at Insurance Daily News– Research findings on schizophrenia are discussed in a new report. According to news reporting out of the New York State Office of Mental Health by NewsRx editors, research stated,“ Given the chronic nature of schizophrenia, it is important to examine age-specific prevalence and incidence…

2024 SEP 05– By a News Reporter-Staff News Editor at Health Policy and Law Daily– Researchers detail new data in Insurance. According to news reporting originating in Santa Monica, California, by NewsRx journalists, research stated,“ To examine characteristics of Medicare Advantage enrollees who use their plan’ s customer service to help plans understand how to…

Once states were allowed to unwind these policies starting in June 2023, concerns were raised about what this would do to insurance coverage for millions of Americans. The Urban Institute predicted this would result in at least 3.8 million Americans going uninsured. The latest numbers from the Centers for Disease Control and Prevention suggest many…

AM Specialty Insurance Company, an Arizona- domiciled surplus lines insurance carrier rated A- by AM Best, is proud to announce its role as the underwriting partner for Once Insurance’ s innovative entry into the jewelry insurance market. Once Insurance has introduced a unique, consumer-friendly product that offers comprehensive five-year protection for…