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Archive for the Insurance Industry News1 Category

Affinity Health appoints former Aetna executive president, CEO

Affinity Health appoints former Aetna executive president, CEO

Michael Murphy, a former top executive with Aetna and Coventry Health, has been named president and CEO of Affinity Health Plan, an independent non-profit organization that serves the Greater New York region. Murphy comes to Affinity with extensive experience leading public and private healthcare organizations. He was most […]

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Virginia scolds Insurance Institute for illegal speed camera use

Virginia scolds Insurance Institute for illegal speed camera use

The state of Virginia is not happy that the Insurance Institute for Highway Safety (IIHS) set up speed cameras on Virginia highways without any authority to do so. State officials sent a warning letter to the industry lobbying group in October. IIHS and its private contractor Brekford […]

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MetLife expands bundled benefits offering for small businesses

MetLife expands bundled benefits offering for small businesses

PRESS RELEASE: The following content has been reprinted in whole or part from a company-supplied press release or issued statement. MetLife is expanding its curated small-business benefits bundles for the 10-99 employee market. The enhanced offering adds life and disability insurance options to the dental, vision and […]

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SageSure expands into North Carolina market

SageSure expands into North Carolina market

SageSure Insurance Managers, the Jersey City, N.J.-based independent residential property managing general underwriter, announced the launch of its North Carolina Homeowners insurance products. SageSure said in a statement that it is the largest independent residential property managing general underwriter in the U.S. The Homeowners (HO-3) and Wind […]

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Hospitals halt projects, hiring due to Obamacare uncertainty

Hospitals halt projects, hiring due to Obamacare uncertainty

Uncertainty surrounding the Republican plan to replace Obamacare is forcing some U.S. hospitals to delay expansion plans, cut costs, or take on added risk to borrow money for capital investment projects, dealing an economic blow to these facilities and the towns they call home. Hospitals typically lay […]

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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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