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Archive for the Insurance Industry News1 Category

Following Trump visit, China creates opening for insurers

Following Trump visit, China creates opening for insurers

Posted: November 13, 2017 Foreign insurers, especially AIA Group Ltd., can break out the champagne: China’s opening of its financial markets is great news. The day after U.S. President Donald Trump left Beijing with billions of dollars of deals with President Xi Jinping, the government announced a clutch […]

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Travelers in ‘right spot’ for cyber insurance exposure

Travelers in ‘right spot’ for cyber insurance exposure

Posted: November 14, 2017 Travelers Cos Inc  plans to stick to its recent growth pace for sales of cyber insurance, which protects businesses against hacking and other liabilities, despite potential to boost it, as the insurer assesses risks in the segment, its head of specialty insurance said on […]

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Another guilty plea in far-reaching N.J. health insurance scam

Another guilty plea in far-reaching N.J. health insurance scam

Posted: November 14, 2017 A Galloway, N.J., man who worked as a pharmaceutical sales representative became the 11th person Monday to plead guilty in federal court to defrauding the New Jersey state health benefits program in a wide-ranging prescription drug scheme that authorities say pulled in hundreds of […]

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Worried about hackers, states turn to cyber insurance

Worried about hackers, states turn to cyber insurance

As the threat from hackers and cybercriminals intensifies, a growing number of states are buying cyber insurance to protect themselves — and taxpayers. “It’s expensive. It’s a big budget item for us. But it’s absolutely worth it,” said Michael Hussey, Utah’s chief information officer. “You’re seeing breaches […]

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Health insurers address opioid addiction crisis

Health insurers address opioid addiction crisis

Posted: November 9, 2017 The nation’s largest insurers signaled a new approach to the opioid crisis that has ravaged families across the country, declaring Wednesday that addiction deserves the same urgency and respect as cancer or diabetes, and should be treated as a chronic disease requiring long-term treatment […]

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Commercial insurance buyers brace for market ‘correction’ in 2018

Commercial insurance buyers brace for market ‘correction’ in 2018

Commercial insurance buyers are likely to face rate increases for 2018 insurance programs as the industry continues to tally losses following one of the most active and financially disruptive hurricane seasons in history, according to Willis Towers Watson’s 2018 Marketplace Realities report. The report from the global […]

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House GOP moves ahead on flood insurance reform

House GOP moves ahead on flood insurance reform

Posted: November 7, 2017 A years-long effort to shore up the finances of the federal government’s flood insurance program is nearing a vote in the House. House Majority Whip Steve Scalise, R-La. and Rep. Jeb Hensarling, R-Dallas, the powerful chairman of the House Financial Services Committee, are pushing […]

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GOP tax plan has pros, cons for healthcare firms

GOP tax plan has pros, cons for healthcare firms

Healthcare companies, executives and professionals could enjoy lower business and personal taxes while facing reduced revenue due to Medicare and Medicaid cuts that may be used to pay for the tax reductions, under the House Republican tax reform bill released Thursday. The 429-page Tax Cuts and Jobs […]

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Penn Mutual launches new survivor indexed universal life product

Penn Mutual launches new survivor indexed universal life product

PRESS RELEASE: The following content has been reprinted in whole or part from a company-supplied press release, issued statement, or other reports or sources. Penn Mutual, the Horsham, Pa.-based life insurer, introduced its latest indexed universal life (IUL) product, Survivorship Plus Select Indexed Universal Life. This new, […]

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Manhattan insurance agency acquired by Prime Risk

Manhattan insurance agency acquired by Prime Risk

Prime Risk Partners has acquired Manhattan-based insurance broker Gunn, Steers & Company, which will continue to operate under its name and at its location, and utilize the resources of Cook Maran & Associates, a Prime Risk unit with offices in New York and New Jersey. Terms were […]

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