MGT, the leading AI-native neo-insurer modernizing P&C commercial insurance for small businesses and their agents, today announced its expansion to California, bringing its property and casualty insurance products to one of the country’ s largest and most underserved small-business markets. Given that California represents 14% of the domestic market, it…
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RICHMOND, VA., Sept. 22, 2026/ PRNewswire-PRWeb/– Soteris, a YC-backed machine learning company for the P&C insurance industry, today announced the launch of a new product that helps carriers and MGAs make more money, often millions more, from their current distribution network, without any change to rates, forms, filings, or headcount. Soteris's first product, which…
Protective Life Corporation, a U.S. subsidiary of Daiichi Life Group, Inc., today announced new research from its principal subsidiary, Protective Life Insurance Company, examining how financial professionals can retain client relationships as wealth passes between generations. Conducted in partnership with Greenwald Research, the study focuses on the…
AM Best will speak at the American Council of Life Insurers Annual Conference, which will take place Oct. 14-16, 2026, in Orlando, FL.. Kenneth Frino, managing director, and Erik Miller, senior director, both of AM Best, will deliver a presentation, titled,“ Life and Annuity Segment in Transition,” during which they will focus on operating results across the life/annuity…
HARRISBURG— Health insurance rates through Pennie, Pennsylvania's Affordable Care Act marketplace, are on the rise again. The Pennsylvania Insurance Department announced that rates will grow by an average of 15.97% for individual customers and 10.28% for small businesses with 50 or fewer employees. The department prevented nearly an additional $95…
Among the powers of the Federal Reserve is the ability to impact interest rates. The Fed doesn't directly control all interest rates in the economy, but it can directly change an interest rate called the federal funds rate, which is the interest rate charged when one bank borrows from another bank. Still, when the Fed makes changes to its federal funds rate, other…
Niembro led a scheme to fraudulently obtain at least $24.9 million from Nodus Bank and conspired to evade U.S. sanctions against Venezuela. "The defendant abused his position with Nodus Bank to commit fraud for his own enrichment and to willfully evade sanctions on a designated individual," said Assistant Attorney General A. Tysen Duva of the Justice…
NEW YORK& ALPHARETTA, Ga.—- Cornell Capital LLC, a U.S.- based private investment firm with offices in New York and Hong Kong, today announced that it has acquired Hancock Claims Consultants, one of the nation’ s leading providers of outsourced claims field services to residential property and casualty insurance carriers. Cornell Capital will support Hancock’ s…
Fed Chair Kevin Warsh and the other 11 members of the central bank's Federal Open Market Committee last week carried out their mission to control inflation by managing monetary policy and raised the key interest rate to 4%, even though President Donald Trump has been demanding that borrowing costs be cut. Actually, more than demanding, as Trump has been…
Editor's note: The following is a press release from Mutual of Enumclaw.. Mutual of Enumclaw, a regional mutual insurance company serving the Pacific Northwest, today announced the launch of a bold new brand designed to strengthen the company's market position and support its long-term growth strategy. "For 128 years, Mutual of Enumclaw has succeeded by staying…
The Federal Reserve announced a 0.25% interest rate hike on Sept. 16, raising its benchmark interest rate into the 3.75% to 4% range. "The plain fact is that inflation is too high, and has been for too long," new Fed Chairman Kevin Warsh said after the announcement. Inflation has remained above the Fed' s 2% target for more than five years, worsening since the start of the…
KKR, a leading global investment firm, today announced the launch of Akrapoint Commercial Capital, a mid-ticket equipment finance company established by a team of experienced industry professionals and KKR. Akrapoint is led by Chief Executive Officer Nate Smith, an experienced and entrepreneurial executive who most recently spent nearly a decade at Trans…
Blue Cross and Blue Shield of North Carolina is suing a Charlotte pediatric therapy practice over allegations of improper and fraudulent billing involving the submission of $1.1 million in unearned claims, according to state court records. The health insurance giant filed the lawsuit against Child and Family Development, Inc. in early September in the…
Amid this uncertainty, executives from Elevance Health said during a July earnings call that they were exiting DC's Medicaid market and expect to exit additional markets. Since then, Louisiana announced an Elevance Health plan will exit at the end of 2026. While MCO entries and exits in specific states or markets are not uncommon, decisions by Elevance Health…
South Philadelphia residents who buy their own health coverage through Pennie, Pennsylvania's Affordable Care Act marketplace, will pay noticeably more starting next year. The Pennsylvania Insurance Department finalized the new rates on Sept. 18, northeasttimes.com reported, setting the individual-market average at 15.97% and the small-group average…
The following information was released by The Bank of Canada:. Governor Tiff Macklem discusses how businesses and households are adapting to the long-term forces reshaping the Canadian economy. Businesses are adjusting their supply chains to reduce their exposure to tariffs, and many are looking beyond the United States for growth.
The following information was released by the office of the Governor of Michigan:. That's why I'm proud to sign these bipartisan bills that stop insurance companies from using unfair pricing models, protect medical benefits, and keep Michigan renters from having to pay unnecessary fees on their monthly bills. "As affordable housing becomes increasingly out…
Attorney General Jay Jones today joined a coalition of 24 attorneys general in filing a comment letter opposing a proposed federal rule that the coalition says goes further than federal law allows, could put federal funding for Medicaid at risk, and also could interfere with state oversight of insurance, and operation of state health insurance exchanges.
Attorney General Anthony G. Brown today announced he is co-leading a coalition of 24 attorneys general in filing a comment letter opposing a proposed federal rule that the coalition says goes further than federal law allows and could put federal funding for Medicaid at risk and also interfere with state oversight of insurance oversight and operation of…
