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UnitedHealth COO: Company Set Up Free COVID-19 Test Distribution System for 50.6 Million in Four Days
President and Chief Operating Officer Dirk McMahon. "We responded swiftly to the federal mandate for cash free COVID tests for consumers - a highly complex undertaking," said ...
Source: BestWire   Date: January 19, 2022
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UnitedHealth Fourth-Quarter Net Earnings Nearly Double as Membership Swells
Tennessee with expansion in Missouri, it said. Commercial benefits served 360,000 more consumers across its growing portfolio. "Our strong 2021 performance and confident growth ...
Source: BestWire   Date: January 19, 2022
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IUA Will Focus on Cyberrisk, ‘Problems That Keep Risk Managers Awake,’ CEO Says
Cyber Security Center, it said in a statement. The association's Climate Risk Committee will continue to work with regulators as the insurance industry's supervisory rules in this ...
Source: BestWire   Date: January 14, 2022
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UK Regulator Warns Insurers to Closely Monitor Risk, Sets Deadline for Stress Testing
Association of British Insurers were not successful. Some life insurers have increased the profitability of writing long-term annuity business by backing their liabilities with a ...
Source: BestWire   Date: January 13, 2022
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$100 Million No-Fault Auto Fraud ‘One of the Largest’ Ever, Prosecutors Say
New Jersey's no-fault auto insurance. "The 13 defendants charged in (the) indictments are alleged to have collectively perpetrated one of the largest no-fault insurance frauds in ...
Source: BestWire   Date: January 13, 2022
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Centene Pays $21.1 Million to Settle New Hampshire Overcharging Allegations
New Hampshire Attorney General John Formella. New Hampshire officials also concluded Centene's inaccurate reporting of pharmacy benefit services costs - and the state's use of that ...
Source: BestWire   Date: January 10, 2022
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DOL Seeks to Overturn Ruling on Company’s Health Insurance Plan
Data Marketing Partnership LP. Such plans must be compliant with the federal Employee Retirement Income Security Act, which are not subject to most state regulation and can also be ...
Source: BestWire   Date: January 10, 2022
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Two Industry Trade Groups Set Course for Possible Merger
Capitol Hill, they said. "This merger would mean an even stronger, collective voice," the groups said in a statement. "Threats to the profession will continue to come, but a more ...
Source: BestWire   Date: January 5, 2022
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Biden: Insurers Must Cover Costs of At-Home COVID-19 Tests
Omicron variant has swept through the nation. The cost for a single test ranges from $9 to $24 at most online sales sites, but availability is scarce with major pharmacy chains, ...
Source: BestWire   Date: January 5, 2022
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COVID-19 Insured Losses of $43.5B Represent Third-Largest Cat Cost in History, Howden says
Swiss Re officials said at the time (BestWire, Aug. 31, 2020). "Of the coverage in place pre-pandemic, most COVID losses are now likely to have been incurred and reported," Alovisi ...
Source: BestWire   Date: January 5, 2022
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Insurtech MGA Corvus Acquires Cyber Underwriter Tarian
Tarian Underwriting Ltd. from Beat Capital Partners Ltd. Tarian will be rebranded as Corvus Underwriting Ltd., it said in a statement. Terms were not disclosed. The acquisition ...
Source: BestWire   Date: January 4, 2022
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Aviva Completes Divestment Program With Sale of Vietnam Unit
Vietnam to Manulife, the company said. The sale closes out divestment efforts in which eight non-core businesses have been sold, the company said in a statement. "Aviva is now ...
Source: BestWire   Date: December 30, 2021
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UK Insurance Regulators Finalize Ban on Automatic Price Hikes for Personal Line Renewals
Insurers agreed with the new rules. "The ABI welcomes these changes, which will remove excessive price differences in the premiums paid by some new and existing customers for the ...
Source: BestWire   Date: December 30, 2021
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Virginia Increases Minimum Motor Vehicle Liability Insurance Coverage Requirements
Department of Motor Vehicles. Under Senate Bill 1182, the state will impose a two-step increase to the minimum requirements. For policies issued or renewed on or after Jan. 1, the ...
Source: BestWire   Date: December 29, 2021
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Oaktree Capital Acquires Cat-Focused MGA From Nephila
Capital Management, the company said. Terms were not disclosed. The MGA was founded in 2015 by Nephila and provided insurance coverage to clients in catastrophe-exposed areas of ...
Source: BestWire   Date: December 28, 2021
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2022 Obamacare Enrollment Up 18.3%; 13.6 Million Sign Up
Obamacare enrollment to 13.6 million. The 2022 enrollment represents an 18.3% increase over the number who enrolled for 2021 coverage in the 33 states using HealthCare.gov. The ...
Source: BestWire   Date: December 27, 2021
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Authorities Break Up $20 Million Alleged Big-Rig Insurance Fraud Scheme
New York state and North Carolina. Under the scheme, commission-based insurance producers or agents would allegedly act as intermediaries between the trucking companies and ...
Source: BestWire   Date: December 22, 2021
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Judge Sides with CNA Unit in BI Dispute over Diamond Wholesaler’s Pandemic Losses
Judge John Peter Cronan, of the U.S. District Court for the Southern District of New York, ruled against Manhattan diamond wholesaler J Kleinhaus & Sons in a lawsuit the company ...
Source: BestWire   Date: December 16, 2021
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German Court Rules Work-From-Home Accident a Covered Event
A German court has ruled that a man who was injured when he slipped and fell while walking from his bedroom to his home office is a covered event that must be indemnified under his ...
Source: BestWire   Date: December 16, 2021
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FCA: UK Insurers Pay $1.63 Billion for COVID-19 BI Losses, Clear Out More Than Two-Thirds of Claims
Supreme Court expanded cover allowed under the BI policies. The FCA did not provide specific insurer payouts for the aggregate costs, but did release how each carrier was handling ...
Source: BestWire   Date: December 15, 2021
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