Newswires

Property and Casualty News RSS Get our newsletter

The 6th U.S. Circuit Court of Appeals rejected Justice’ s arguments that his liability for overdue premiums was capped at about $3.5 million and that the repayment agreement should have ended in October 2021. The unanimous October 9 decision affirmed a judgment of $25,179,709.24, plus interest, in favor of Lexon Insurance Co. The interest could push the total…

Social Security benefits include Old-Age, Survivors, and Disability Insurance, and Supplemental Security Income. On average, Social Security retirement benefits will increase by $75 per month. Nearly 72 million Social Security beneficiaries will see a 3.6% cost-of-living adjustment beginning in January 2027.

"Surging Treasury yields carry real consequences for American families. Rising Treasury yields increase mortgages, car loans, and credit cards, adding even more costs to Americans' monthly budgets. Senator Elizabeth Warren, Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, wrote to Treasury Secretary Scott Bessent regarding…

Business Court judge denied Tuesday the State Health Plan's request for a temporary restraining order to halt Atrium Health's counterproposal for the plan's more than 750,000 members. Atrium, which owns Atrium Health Wake Forest Baptist, unveiled on Oct. 6 its own 2027 healthcare coverage plan for SHP members. Atrium claims its plan provides lower co-pays…

The Federal Reserve increased the Fed Funds rate by a quarter point the week before last. Markets had fully anticipated the increase, and the Fed delivered. Markets surged a day after the increase, showing approval of the Fed' s commitment to fighting inflation.

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” for the members of the AmTrust Group. At the same time, AM Best has affirmed the FSR of A- and Long-Term ICR of“ a-” of AmTrust Title Insurance Company. AmTrust has 25 years of workers’ compensation experience and has…

AM Best has upgraded the Financial Strength Rating to A from A- and the Long-Term Issuer Credit Rating to“ a” from“ a-” of Dah Sing Insurance Company Limited. Under its business plan, DSI is expected to maintain healthy growth through new initiatives in the medium term, positioning it competitively in the Hong Kong non-life insurance market. The company’ s GPW is…

The figures will likely underscore the lingering impact of the Iran war on gas prices and the stubborn persistence of inflation, which has fallen sharply from a 9.1% peak in 2022 but has ticked higher since the war began in late February. Elevated inflation has posed political problems for Republicans in Congress and is a challenge for the Federal Reserve,…

Montrose Regional Health laid off 34 employees Monday, citing a gaping chasm between what private insurers have not paid and the operating expenses it can no longer cover through its savings. With 43 positions that were not filled when vacated, the total reduction in workforce is 77. The decision had to be made despite overall growth in patient loads and…

A Superior Court judge denied the State Health Plan's request for a temporary restraining order against Atrium Health's "Affordability Program" on Tuesday. While other legal pathways continue to be explored, the Plan is now forced to consider all options to keep the Plan solvent for 2027 and beyond, which includes having to raise all member premiums, whether…

–Federal regulators fined Bank of America $1.21 billion Tuesday after finding it failed to quickly report more than $5 billion in suspicious transactions and relied on others to catch what its own systems missed. At the agency's request, Bank of America reviewed those accounts and filed suspicious activity reports covering hundreds of millions of dollars…

UnitedHealth Group is gaining steam on a turnaround as it heads into a critical enrollment season for its Medicare Advantage business. The Eden Prairie- based health care giant reported third quarter results Tuesday that surpassed profit expectations, showing ongoing progress under chief executive Stephen Hemsley toward profitability growth that made…

Corebridge Financial today announced the launch of Progressive Trigger, a first-of-its-kind index annuity interest-crediting strategy designed to help customers preserve future growth potential despite a down year. “Protection from market downturns has always been one of the defining benefits of index annuities,” said Bryan Pinsky, President of…

A former public defender from western Iowa has been sentenced to five months in prison for defrauding Medicaid and cancer patients. In June, a federal grand jury in Nebraska charged Iowa- licensed attorney Cassi Wigington with healthcare fraud. She then sent bills for the undelivered devices to various insurers, including Medicaid, Blue Cross-Blue Shield,…

SARASOTA— Sarasota Memorial Health Care System has notified its patients with UnitedHeathcare Medicare Advantage plans that they may not have coverage for treatment rendered after Dec. 31. All of SMHCS' providers— its two hospitals, in Sarasota and Venice; its outpatient and urgent care centers; and all First Physicans Group practices— would be considered out…

Major insurers, like UnitedHealth, Centene and state Blue Cross plans, have shuttered plans that they viewed as unprofitable in certain markets, leaving some people with fewer choices of policies, and even more limited choices of doctors in 2027. In some rural counties from Oregon to New Hampshire, older Americans shopping for private Medicare Advantage plans…