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Archive for the Insurance Industry News1 Category

ACE completes Chubb acquisition, combined firm now known as ‘Chubb’

ACE completes Chubb acquisition, combined firm now known as ‘Chubb’

ACE Ltd. has completed its $29.5 billion acquisition of Chubb, creating the world’s largest publicly traded property and casualty insurance company. On Friday, ACE began operating globally as Chubb, trading on the New York Stock Exchange under the symbol “CB.” The company is also formally launching the […]

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Despite Obamacare, some marketplace customers find health care unaffordable

Despite Obamacare, some marketplace customers find health care unaffordable

Even with subsidies to make coverage more affordable, many people who buy health insurance on the marketplaces set up by President Obama’s signature health insurance legislation spend more than 10% of their income on premiums, deductibles and other out-of-pocket payments, a recent study found. Among those hit […]

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Colonial launches enhanced gunshot wound policy for police

Colonial launches enhanced gunshot wound policy for police

Posted: January 19, 2016 PRESS RELEASE: The following content has been reprinted in whole or part from a company-supplied press release or issued statement. COLUMBIA, S.C.– Colonial Life & Accident Insurance Company has introduced an enhanced gunshot wound insurance policy for police, fire and emergency workers who put […]

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UnitedHealth 4Q profits drop, but pharmacy segment sees growth

UnitedHealth 4Q profits drop, but pharmacy segment sees growth

Posted: January 19, 2016 UnitedHealth Group closed 2015 with a 19% drop in fourth-quarter profit, but the nation’s largest health insurer still topped Wall Street’s expectations thanks in part to growth outside of its core business. The health insurer said Tuesday that operating earnings from its Optum segment […]

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Obamacare rules force Wyoming health insurer to close

Obamacare rules force Wyoming health insurer to close

Posted: January 18, 2016 A health insurance company that was once the second largest in Wyoming will be liquidated to pay off its debts, falling victim to Affordable Care Act requirements. A Laramie County District judge signed an order to liquidate WINhealth Partners. Wyoming Insurance Commissioner Tom Glause […]

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P/C leaders expect profit in 2016, but no improvement: Survey

P/C leaders expect profit in 2016, but no improvement: Survey

Leaders of the property/casualty insurance industry expect no increase in profitability in 2016 for most lines of insurance, according to a survey conducted by the Insurance Information Institute (I.I.I.). The survey was conducted at I.I.I.’s 20th annual Property/Casualty Insurance Joint Industry Forum, held recently in New York […]

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USI acquires healthcare professional liability brokerage

USI acquires healthcare professional liability brokerage

Posted: January 18, 2016 Valhalla, N.Y.-based USI Insurance Services has acquired Healthcare Liability Solutions (HLS), located in Houston, Texas. HLS is a property and casualty brokerage firm dedicated to customizing insurance programs for healthcare organizations and providers specializing in professional liability insurance. Terms of the transaction were not […]

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President vetoes legislation to repeal Obamacare

President vetoes legislation to repeal Obamacare

Posted: January 11, 2016 President Obama vetoed a bill Friday aimed at repealing his signature health care law. “This legislation would not only repeal parts of the Affordable Care Act, but would reverse the significant progress we have made in improving health care in America,” the president wrote […]

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15 state attorneys general join federal probe of health insurer mergers

15 state attorneys general join federal probe of health insurer mergers

Posted: January 12, 2016 About 15 state attorneys general have joined the Justice Department’s probe of two big insurance mergers, according to people familiar with the matter, increasing the scrutiny on proposed deals that would reduce the number of nationwide health insurers to three from five. According to […]

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2016 outlook for U.S. commercial lines negative, personal lines stable: A.M. Best

2016 outlook for U.S. commercial lines negative, personal lines stable: A.M. Best

A.M. Best is maintaining its negative outlook on the commercial lines segment of the U.S. property/casualty (P/C) industry, despite relatively solid aggregate results over the past several years, according to a report from the ratings agency. The negative outlook indicates A.M. Best’s expectation of more downgrades than […]

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