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Allianz launches cyber, professional liability coverage in North America

Allianz launches cyber, professional liability coverage in North America

Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) is introducing its next generation cyber and professional liability coverage product called ACCEPT Protect, designed exclusively for the North American market. Featuring a streamlined form structure with flexible terms, Allianz says that ACCEPT Protect is the […]

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Aetna backs away from plans to expand Obamacare business

Aetna backs away from plans to expand Obamacare business

Aetna Inc. became the last of the five major national health insurers to project a loss on Affordable Care Act plans for 2016, underscoring concerns about the stability of the insurance marketplaces at the heart of President Obama’s signature health insurance law. Aetna said it would re-evaluate […]

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Melani, fired former Highmark CEO, launches equity fund with partner

Melani, fired former Highmark CEO, launches equity fund with partner

Kenneth Melani, the former Highmark CEO who was fired after charges in a domestic violence dispute, along with a top executive in the pharmaceutical field, have launched Velocity Fund Partners, a private equity fund targeting the life sciences and health care services sector within the health care industry. […]

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Humana to abandon 90% of counties covered by Obamacare

Humana to abandon 90% of counties covered by Obamacare

Humana is the latest health insurer to significantly pull back its participation selling subsidized individual coverage under the Affordable Care Act, announcing plans to scale back next year to “no more than 156 counties” across 11 states. The decision means Humana will reduce its Obamacare geographic presence […]

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Savoy hosts two Medicare Advantage workshops, Aug. 11-12

Savoy hosts two Medicare Advantage workshops, Aug. 11-12

Savoy Associates, the Mid-Atlantic general agency providing employee and individual health benefits, will host two separate Medicare Advantage workshops for brokers this month. The daylong workshops are slated for Aug. 11 and Aug. 12 in two different locations in New Jersey. Savoy Associates operates primarily in New […]

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In Memoriam: Bill Simmons, Maryland health insurance veteran

In Memoriam: Bill Simmons, Maryland health insurance veteran

William F. “Bill” Simmons, co-founder of Group Benefit Services (GBS) in Hunt Valley, Md., and a long-time leader of Maryland’s health insurance industry, passed away on July 22, 2016. Simmons co-founded GBS in 1980 with his wife, Kathy Simmons, who survives him. Simmons is also survived by […]

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N.J. recovers $3.5 million from insurance fraud case

N.J. recovers $3.5 million from insurance fraud case

New Jersey Department of Banking and Insurance Commissioner Richard J. Badolato announced his agency has recovered $3.5 million in fines, penalties, and attorneys’ fees related to a broad scheme to defraud Allstate and other insurance companies of personal injury protection (PIP) benefits. According to Badolato, the recovery […]

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N.Y. moves to ensure mental health equity from insurers

N.Y. moves to ensure mental health equity from insurers

New York’s Department of Financial Services has issued guidance to ensure that insurers do not unfairly discriminate against individuals facing mental health disorders. In a letter, DFS informed health insurers of their responsibility to provide the same level of coverage for mental health and substance use disorders […]

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Pa. insurance commissioner, health insurers discuss rate increases

Pa. insurance commissioner, health insurers discuss rate increases

Pennsylvania Insurance Commissioner Teresa Miller told attendees at a recent public informational hearing that the cost of health insurance and ensuring the health insurance market is attainable are key issues with her agency. Health insurers told attendees that they are committed to providing quality coverage to consumers, […]

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Pa. attorney general joins suit to block Aetna, Humana deal

Pa. attorney general joins suit to block Aetna, Humana deal

The Pennsylvania Attorney General has joined the U.S. Department of Justice and attorneys general from seven other states and the District of Columbia in filing a lawsuit to block Aetna’s proposed acquisition of Humana. The DOJ also filed a separate lawsuit in another insurance company merger involving […]

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