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US stocks fall sharply and Dow tumbles 1,100 points after the Fed hints at just 2 rate cuts for 2025

December 18, 2024

—U.S. stocks tumbled to one of their worst days of the year after the Federal Reserve hinted Wednesday it may deliver fewer shots of adrenaline for the U.S. economy in 2025 than earlier thought. Wall Street loves easier interest rates, but that cut was already widely expected. A lot is riding on it, particularly after expectations for a series of cuts in 2025 helped…

Can new state regulations resolve California's existential insurance crisis?

December 18, 2024

There's no law requiring California property owners to carry insurance, but the vast majority buy it to protect themselves from fire and other perils, or are required to do so by their mortgage lenders. For decades, insuring California's homes, farms and commercial properties was a hum-drum business of willing sellers and willing buyers.

Wisp Partners with Nourish to Offer Patients on GLP-1s Personalized Nutrition Counseling

December 18, 2024

Wisp, the largest pure play women’s telehealth company in the U.S. focused on providing sexual and reproductive health solutions, now serving 1.3 million patients, today announced a strategic partnership with Nourish, the leading food as medicine platform. Wisp patients can now access nutrition counseling services either through their health insurance or…

Erie Insurance promotes Cody Cook and Sarah Shine to executive vice President roles

December 18, 2024

ERIE, Pa., Dec. 18, 2024- Erie Insurance today announced that Cody Cook and Sarah Shine have been promoted to executive vice presidents, effective Jan. 1, 2025. Both leaders are currently serving as senior vice presidents and have been members of ERIE's Executive Council since June. Cook joined Erie Insurance in 2003 as an actuary in Personal Lines and predictive…

Act Fast and You Can Still Enroll In An ACA Healthcare Plan for 2025

December 18, 2024

People who want health coverage starting Jan. 1 have until Wednesday to sign up at an ACA marketplaceThe deadline was extended from Dec. 15 to Dec. 18 this yearIf you miss the Wednesday deadline, you still have until Jan. 15 in most states to sign up for 2025 coverage that will commence on Feb. 15. WEDNESDAY, Dec. 18, 2024– Folks need to act now if they want health insurance…

WILL NEW LAW FIX HOME INSURANCE?

December 18, 2024

California's plan to stabilize its faltering home insurance market is now law, meaning homeowners in fire-prone areas and beyond may soon have an easier time finding coverage. "Giving people more choices to protect themselves is how we will solve California's insurance crisis," Lara said in a statement. But last week, Farmers Insurance, the state's…

Vanderbilt Poll: Tennesseans support Medicare expansion, gun reform

December 18, 2024

Registered voters in Tennessee voiced overwhelming support for Medicaid expansion, including 55% of MAGA Republicans, and, further, they believe health insurers and pharmaceutical companies are largely responsible for high healthcare costs. "While much ink has been spilled about what the election results mean about the electorate, these results suggest…

Retail sales rose at healthy pace last month in sign of US economy's health

December 18, 2024

Retail sales rose 0.7% in November, the Commerce Department said Tuesday, a solid increase and higher than October's 0.5% gain. The boost in spending underscores that the economy is still growing at a healthy pace even with higher interest rates, a trend that could cause the Federal Reserve to lower borrowing costs more slowly next year than they have…

Study: 80% of Insurtech MGAs are Developing Their Own Products

December 18, 2024

NEW YORK, NY, UNITED STATES, December 12, 2024/ EINPresswire.com/– ReSource Pro, a leading strategic operations partner to insurance organizations, and InsurTech NY, one of the largest insurtech communities in North America, today released a new research report examining insurtech MGAs and their impact on reshaping the insurance landscape.

From murderer to terrorist: These are the charges faced by Luigi Mangione

December 18, 2024

Luigi Mangione, charged with murder against UnitedHealthcare insurer CEO Brian Thompson, will appear in a Pennsylvania court on Monday, December 23. In total, Luigi Nicholas Mangione will face eleven charges in New York, including two counts of second-degree murder, one of them as a crime of terrorism "for the brazen, targeted and premeditated shooting of Brian…

Burlington County defies trends by keeping health insurance rates stable

December 18, 2024

The rates are assessed on the paychecks of the enrolled employees of Burlington County, the Burlington County Bridge Commission, Rowan College at Burlington County and the Burlington County Board of Social Services to cover their medical and prescription drugs benefits. "This is fantastic news for our employees and their families, as well as Burlington…

Nebraska DHHS probes Medicaid service for autistic youths as costs escalate

December 18, 2024

LINCOLN— Max Perry was ousted from day care as a tot. "We were living in hell," said Nikki Perry, a law school graduate who left a pharmaceutical sales job to be more involved in her son's treatments. But the Lincoln mom and other advocates now face a different anxiety, worried that such services could be jeopardized for a growing number of Nebraska's most vulnerable…

Sapiens wins XCelent award for Customer Base and Support for UnderwritingPro for Life & Annuities

December 18, 2024

Rochelle Park, N.J., December 18, 2024- Sapiens International Corporation,, a leading global provider of software solutions for the insurance industry, announced today that Sapiens UnderwritingPro for Life& Annuities has received a 2024 XCelent award, in the Customer Base and Support categories in the North America region for new business and automated…

Companies tighten security after CEO's killing Companies tighten security after a health care CEO's killing leads to a surge of threats

December 18, 2024

"Wanted" posters with the names and faces of health care executives have popped up on the streets of New York. An internal New York Police Department bulletin warned this week that the online vitriol that followed the shooting could signal an immediate "elevated threat." "Wanted" posters pasted to parking meters and construction site fences in Manhattan included…

CVS to offer primary care in Houston

December 18, 2024

But CVS Health believes it can succeed where others have stumbled– and Houston is serving as a testing ground. The program is currently limited to certain Aetna health insurance plans, but CVS Health is in discussions to add additional payors. CVS Health believes it can succeed because it has built MinuteClinic into a "household name" in health care, said Dr.

Shock poll: 41 percent of young voters find killing of UnitedHealthcare CEO acceptable

December 18, 2024

Anger over health insurance companies has been in the spotlight after Thompson was fatally shot Dec. 4 in New York City. Luigi Mangione, a 26- year-old, was arrested last week in Pennsylvania and faces charges in Thompson's killing. Spencer Kimball, the executive director of Emerson College Polling, said 22 percent of Democrats said they found the killing…

Federal Reserve cuts its key rate by a quarter-point but envisions fewer reductions next year

December 18, 2024

—The Federal Reserve cut its key interest rate Wednesday by a quarter-point— its third cut this year— but also signaled that it expects to reduce rates more slowly next year than it previously envisioned, mostly because of still-elevated inflation. The central bank's expectation of just two rate cuts in 2025 rattled Wall Street, sending stock prices plummeting…

Best’s Market Segment Report: AM Best Maintains Stable Outlook on Malaysia’s Non-Life Insurance Segment

December 17, 2024

The Best’ s Market Segment Report,“ Market Segment Outlook: Malaysia Non-Life Insurance,” states that the non-life sector is poised for significant growth, underpinned by economic recovery, rate hikes due to high inflation and rising claims and growing demand for digital insurance and takaful products. At the same time, Malaysia’ s non-life insurers face rising…

Preparing for the Housing Market in 2025

December 17, 2024

As we prepare for the housing market in the upcoming year, it can be a fool's errand to try and predict what will happen. The Federal Reserve had been maintaining its benchmark federal funds rate around 5% in order to bring inflation down. The Fed's first cut wasn't until September, when they announced a 0.5% cut.

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