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U.S. P/C industry sees underwriting loss in Q1: Report

U.S. P/C industry sees underwriting loss in Q1: Report

The U.S. property/casualty industry posted a first-quarter 2017 net underwriting loss of $841.5 million, according to preliminary financial results, continuing the industry’s underwriting loss trend seen in 2016, A.M. Best reports. The first-quarter loss was significantly less than the $2.0 billion net underwriting profit reported in first-quarter […]

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No jail in N.J. diner arson-for-insurance scam

No jail in N.J. diner arson-for-insurance scam

  The owners of a diner in New Jersey’s Sussex County who admitted to burning down the restaurant to collect the insurance money avoided jail time but must pay $323,000 in restitution and serve probation. Jerzeez the Diner co-owners Tina Diakos, 40, and Ozkan Cengiz, 49, were […]

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Transamerica supplemental policy designed for expanded benefits for hospital care

Transamerica supplemental policy designed for expanded benefits for hospital care

PRESS RELEASE: The following content has been reprinted in whole or part from a company-supplied press release or issued statement. Transamerica announced the availability of what it says is a new, first-of-its-kind, hospital indemnity insurance policy designed specifically for hospital systems and provider-owned health plans. Baltimore-based Transamerica, […]

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Individual health insurance buyers were harmed by Obamacare: Opinion

Individual health insurance buyers were harmed by Obamacare: Opinion

John Goodman, a health policy expert and senior fellow at the non-profit, non-partisan Independent Institute, has contributed an article to Forbes in which he claims that Obamacare’s destruction of the individual health insurance market has done enormous damage to the lives and finances of millions of people […]

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Acting director of Md.’s Obamacare exchange to resign

Acting director of Md.’s Obamacare exchange to resign

Jonathan Kromm, acting executive director of Maryland’s health insurance exchange, created under the Affordable Care Act, will leave the governmental state agency for a position at CareFirst BlueCross BlueShield, the state’s largest insurer. The Maryland Health Benefit Exchange has not had a permanent director since September following […]

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Democrat AG’s seek continued subsidies for health insurers under Obamacare

Democrat AG’s seek continued subsidies for health insurers under Obamacare

  More than a dozen Democratic attorneys general on Thursday sought to intervene to defend a key part of the Obamacare healthcare law – subsidy payments to insurance companies – which is under threat in a court case. The 16 attorneys general, led by California Attorney General […]

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P/C insurers report $4.7 billion net underwriting loss in 2016

P/C insurers report $4.7 billion net underwriting loss in 2016

Private U.S. property/casualty insurers suffered a $4.7 billion net underwriting loss in 2016, following an $8.9 billion net underwriting gain in 2015, and experienced a 25% drop in net income after taxes to $42.6 billion from $56.8 billion a year earlier, according to ISO, a Verisk Analytics […]

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Uber raises rates in 8 states to pay for insurance coverage

Uber raises rates in 8 states to pay for insurance coverage

Paid ride-sharing service Uber will raise rates in eight states in an effort to have customers pay the cost of a pilot program to provide drivers with injury protection and income security insurance. Uber is a popular ride-sharing service that acts as a “taxi” service. Uber has […]

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Online homeowners, renters insurer receives California approval

Online homeowners, renters insurer receives California approval

Lemonade Inc, a tech-driven insurance startup based in New York that promises renters and homeowners insurance in as little as 90 seconds and payment of claims in 3 minutes, has won approval from California regulators to sell policies in the state, the company said. The insurer’s foray […]

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Aetna to abandon Obamacare completely

Aetna to abandon Obamacare completely

Aetna will complete its withdrawal from Affordable Care Act insurance exchanges for 2018, announcing that lingering financial losses and uncertainty about the marketplaces’ future was prompting it to exit two final states. According to an Aetna spokesman, the insurer will not sell individual health plans next year […]

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