—Louisiana’s state-run property insurance company of last resort is planning to shed more than 10,000 policies, shifting the coverage to private insurers. Insurance Commissioner Jim Donelon announced this week that eight insurance companies have agreed to take over 10,304 residential coverage policies from the Louisiana Citizens Property Insurance…
Health insurers are warning Republicans that Congress needs to take big, concrete steps— quickly— to make good on the promise of a stable transition away from Obamacare. To make a three-year“ repeal and replace” effort work, Congress would need to do more than come up with a workable replacement plan. But many Republicans might not want to send the signals insurers…
Dec. 09– Motorists Insurance Group plans to invest nearly $20 million to create apartments, retail space and parking on property it owns near its Downtown headquarters. Dave Kaufman, president and CEO of Motorists, said in a statement that the company is “making another significant investment in our community,” building on recent renovation and expansion…
—North Carolina’s Supreme Court is again rejecting efforts by insurance companies to raise homeowners’ premiums. The state’s highest court on Friday rejected arguments by the group that represents North Carolina insurers, which in 2014 sought an average 25 percent increase in homeowners’ premiums. The North Carolina Rate Bureau’s manager and attorneys…
Rules-based software that flags claims is now being used by nine in 10 insurers, up from 64% in 2014. Predictive analytics is also gaining adherents, from 40% of insurers in 2014 to 54% this year.
—Evergreen Health Cooperative Inc. won’t be issuing or renewing individual health benefit policies on the Maryland Health Connection for the 2017 plan year, Maryland regulators announced Thursday. “After many months of working closely with Evergreen management, leadership at the Centers for Medicare and Medicaid Services and outside investors to find a…
Dec. 08– Last month, California Insurance Commissioner Dave Jones ordered more than $100 million in refunds for nearly 2 million State Farm policy owners, alleging the company charged excessive rates for its homeowners and renters insurance. Now, State Farm is fighting back and challenging the commissioner’s authority to order the refund.
We’ re in a new era of family interdependencies. In recent years, approximately 60 percent of Americans aged 50 and older have provided financial assistance to members of their family, including adult children, parents, grandchildren, siblings or other relatives. 1 This generosity, in which people place importance on helping family, runs through our culture.
The nation’s health insurers, resigned to the idea that Republicans will repeal the Affordable Care Act, on Tuesday publicly outlined for the first time what the industry wants to stay in the state marketplaces, which have provided millions of Americans with insurance under the law. The demands are a sort of warning shot to Republicans. ”The market has already…
–The only good thing that can be said about aging is that it’ s better than the alternative. It’ s also more expensive, and as society ages, we’ re going to have to figure out how we pay for it. That’ s largely not a problem for the bottom half of the income distribution, because Medicaid will pay the bill if you’ re destitute.
Fiduciary framework, increased financial wellness efforts and greater automation should be on benefits professionals’ radar.
Last year was a banner year for fixed indexed annuities. Sales topped $50 billion in 2015, a 13 percent increase over the previous year and the eighth consecutive year of increased sales.. For Mike Morrone, associate vice president for fixed income strategy at Nationwide, this rush to security isn’ t surprising, nor is it likely to end soon.“ The financial crisis and…
Byline: Robert Bloink, William H. Byrnes. When it comes to financial planning, clients have a wide variety of goals that extend far beyond simply securing a monthly income stream during retirement–which means that standard annuity and life insurance products may fall short. These loans can also subject the client to IRS penalties if the client has yet to reach…
Zenefits, a once high-flying human resources software startup that defined Silicon Valley’s recent technology boom, has been trying to recover its footing after being rocked by scandal over its business practices earlier this year.
Dec. 06– A federal judge has granted the FBI’s request to seize $5 million in life insurance proceeds from policies taken out by the family of a Hurst woman who was murdered while cleaning a home in Colleyville. Anita Fox, 72, was found stabbed to death in September 2014 in the upscale home. Tarrant County authorities said a couple of Irish Travelers, Gerard Gorman…
—Iowa’s top insurance regulator has resigned. Terry Branstad’s office announced Monday that Iowa Insurance Commissioner Nick Gerhart’s resignation will be effective Dec. 23. Deputy Commissioner Doug Ommen will serve as interim insurance commissioner.
Aetna’s attempt to assuage U.S. antitrust concerns over its $37 billion takeover of Humana by selling assets to a smaller company landed with a resounding thud.
In the first of two scenarios, Republican members of Congress who control both the Senate and House, can attempt to kill the rule by passing a bill. We have a lot of strong supporters in the Senate, but they’ll be defending a lot of territory, “says Barbara Roper, director of investor protection at the Consumer Federation of America. If the Senate passed a bill, many…
Dec. 02– Financial services and insurance company Transamerica said Thursday that it will close its office in Los Angeles, cutting about 315 jobs. Transamerica will no longer have operations in California, though the company still owns the Transamerica Pyramid in San Francisco. Transamerica said it will also close its office in West Chester, Ohio.
