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Chubb launches online workers’ comp system for agents

Chubb launches online workers’ comp system for agents

The following content has been reprinted in whole or part from a press release, issued statement, or other reports or sources. Chubb has introduced a new online system for independent agents that will quote and issue a comprehensive workers’ compensation policy for small businesses. Chubb’s workers’ compensation […]

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N.Y. psychiatrist charged with insurance fraud

N.Y. psychiatrist charged with insurance fraud

A Western N.Y. psychiatrist who also works with the U.S. Veterans Administration has been arrested and charged with operating a scam against the government and private health insurance carriers. The following is a statement issued by the U.S. Attorney’s Office, Western District of New York. VA Psychiatrist […]

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Virginia insurance agent gets prison for $1.9 million fraud

Virginia insurance agent gets prison for $1.9 million fraud

A Richmond, Va.-area insurance agent was sentenced to 7.5 years for an investment fraud that netted him nearly $2 million. [A previous story on the crime can be found here.] The following is a statement from the U.S. Attorney’s Office, Eastern District of Virginia. Founder of Heroes […]

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Resident, non-resident N.Y. licensees subject to new cyber requirements

Resident, non-resident N.Y. licensees subject to new cyber requirements

The New York Department of Financial Services (NYDFS) recently published the final version of its Cybersecurity Requirements for Financial Services Companies. The regulations are applicable to all agencies licensed to conduct business in New York. (See definition of “covered entity” in the regulations, Section 500.01.). These regulations, […]

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N.J. man indicted for $1 million annuity, life insurance theft

N.J. man indicted for $1 million annuity, life insurance theft

A New Jersey man has been accused of cashing in annuities, life insurance owned by employer and pocketing more than $1 million. Vikas Mehta, 43, of Cliffside Park, N.J., was indicted on charges of theft and first-degree money laundering, authorities said. Mehta is accused of stealing more […]

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Companies behind HSAs could bank on big profits under GOP plan

Companies behind HSAs could bank on big profits under GOP plan

Health savings accounts are poised for a major expansion by Republicans in Washington, D.C., and that could mean millions more customers — and fees — flowing to a handful of companies. Investors are betting on it, bidding up shares of HSA provider HealthEquity by about 35 percent […]

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Americans not sold on cost and coverage claims in GOP’s health bill

Americans not sold on cost and coverage claims in GOP’s health bill

A majority of the public is skeptical the Republican health plan would be an improvement over the Affordable Care Act, with widespread concerns that insurance costs would increase while people lost coverage, according to a poll released Wednesday. The dour public assessment, from interviews with 1,206 adults […]

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Anthem suggests changes to Obamacare replacement to Trump

Anthem suggests changes to Obamacare replacement to Trump

Health insurer Anthem Inc. sought changes to the Republican replacement plan for the Affordable Care Act when its chief executive officer talked with President Donald Trump on Tuesday. Anthem CEO Joseph Swedish talked with Trump and Health and Human Services Secretary Tom Price about elements of the […]

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USI set to be acquired by KKR for $2 billion

USI set to be acquired by KKR for $2 billion

KKR & Co. is nearing a deal to acquire insurance broker USI Insurance Services for about $2 billion, according to people familiar with the matter, as reported by the Wall Street Journal. The deal would value closely held USI at about $4 billion including debt, the people […]

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World Insurance acquires Coverage Administrators

World Insurance acquires Coverage Administrators

World Insurance Associates, a Tinton Falls, N.J.-based independent insurance agency, has acquired Coverage Administrators, Inc., based in New York City. Terms were not disclosed. Coverage Administrators, Inc. has been offering risk management solutions as an independent insurance brokerage since 1997. A family-owned firm, Coverage Administrators works with […]

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