The U.S. Department of Justice on Thursday announced charges against 15 people, including six medical professionals, for allegedly participating in schemes that collectively submitted $2 billion in fraudulent health care claims to private and public insurers. The largest of the cases involved $1.6 billion in billings for what the DOJ described as "sham…
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AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Ratings and affirmed the Financial Strength Rating of A and the Long-Term ICRs of“ a+” for the members of Ohio Mutual Insurance Group. The outlook of the FSR is stable. See below for detailed listing of these companies and Credit Ratings.
OP Bancorp, parent company of Open Bank, today reported:. Sang K. Oh, President and Chief Executive Officer:. Net interest income increased by $2.1 million, or 11%, primarily driven by continued loan growth and the normalization of Federal Reserve Bank account income following a prior-quarter accrual adjustment.
Selective Insurance Group, Inc. reported financial results for the third quarter ended September 30, 2026, with net income per diluted common share of $2.11 and non-GAAP operating income 1 per diluted common share of $2.37. These results reflect our disciplined underwriting approach and continued progress to improve profitability,” said John J. Marchioni,…
Universal Insurance Holdings reported third quarter 2026 results. "Subsequent to quarter end, Hurricane Isaias made landfall near Destin in the western Florida Panhandle as a Category 2 hurricane before quickly weakening as it moved inland. Net income available to common stockholders was $52.5 million, compared to net income of $39.8 million in the prior…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Maxseguros EPM Ltd.. Maxseguros, established in Bermuda in 2008, is a single-parent captive insurer wholly owned by EPM, which is owned by the Colombia municipality of Medellín. EPM is the largest power generation and multi-utility company in Colombia.
AM Best has affirmed the Performance Assessment of PA-3 of First Indemnity Insurance Agency, Inc.. The outlook of the assessment is stable. The assessment reflects First Indemnity’ s strong underwriting capabilities, strong governance and internal controls, strong financial condition, strong organizational talent and its strong depth and breadth of…
1. New Zealand inflation came in below expectations earlier today. The New Zealand inflation miss has not removed expectations of another RBNZ hike. Traders are becoming more cautious ahead of next week’ s central-bank meetings, with holds expected from the Fed, ECB, and Bank of Japan. EUR/USD is trading around 1.1245, with most trend traders poised to exit their…
Health insurer AmeriHealth Caritas will begin offering plans on Ohio’ s Health Insurance Marketplace in 2027, expanding access to health coverage in all the state’ s largest metro areas, according to a press release from the company. “Ohio families deserve meaningful choices when it comes to their health coverage,” said Andy Marino, senior vice president of…
BOISE— Legislators held a final meeting for the Idaho Health Insurers Working Group on Wednesday, Oct. 14, hearing a broad overview on the standing of Idaho hospitals and making recommendations on future legislation, including around prior authorization reform. The group was initially formed during the legislative interim to respond to a dispute between…
A Missouri insurance trade group says rising health care costs are making it harder to keep premiums affordable, after Children’ s Mercy announced that ACA Marketplace health plans will no longer include the pediatric hospital as an in-network provider starting Jan. 1. Missouri families and small businesses are feeling the strain of rising health insurance…
Iowa officials are warning more than 87,000 Iowans they face cancellation of their Medicare Advantage or Part D plans for 2027.. In the lead-up to open enrollment, Iowa's Senior Health Insurance Information Program and Senior Medicare Patrol notified Iowa Medicare beneficiaries of the plan cancellations and changes. One of the major changes Iowans will…
More than 1,700 Pottawattamie County residents will need to find new Medicare coverage for 2027 after their current plans were discontinued, raising the stakes for this year's Medicare open enrollment period. The affected beneficiaries include 1,018 people losing standalone prescription drug coverage and 694 losing Medicare Advantage plans,…
They generally follow the trajectory of the 10- year Treasury yield, which lenders use as a guide to pricing home loans. Mortgage rates have been climbing since late February, when the U.S. war with Iran began, pushing up the price of oil and driving inflation higher. The run-up in rates also reflects heightened bond market volatility, which has pushed up yields on…
FRANKFORT— It is now easier for Kentucky residents to prepare for the devastating financial consequences of flooding, as the Federal Emergency Management Agency has launched a new tool to purchase a National Flood Insurance Program policy completely online through Floodsmart.gov. "I've seen firsthand how floodwaters devastate American communities,"…
AM Best has affirmed the the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a” of Zavarovalnica Triglav d.d., the operating holding company of the Triglav group, and Pozavarovalnica Triglav Re, d.d., a wholly owned subsidiary of Triglav. The outlook of these Credit Ratings is stable. The ratings of Triglav reflect the company’ s balance…
Oxbridge Health, Inc. today announced that it has closed a $45 million Series B financing led by Eir Partners, with participation from Optum Ventures and a group of experienced healthcare leaders. The round brings total investment in the company to $90 million, including capital from its founders and early investors, and marks the start of full commercial…
The ratings of Ascot Bermuda and Ascot U.S. reflect Ascot’ s consolidated balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. AM Best views Ascot Bermuda and Ascot U.S. as strategically important to Ascot and fully integrated within…
A Pompano Beach woman was convicted at trial earlier this month of theft of government funds and Social Security fraud for stealing her great-aunt "s retirement benefits for years after her death, federal prosecutors said. The relative received monthly Social Security retirement deposits into a Chase bank account held solely in the woman "s name, according to…
