Ratings agency Moody's Investors Service said Wednesday that it has changed its outlook on the U.S. life insurance industry to "Stable" from "Negative." Moody's said it expects economic growth rates to improve slowly and interest rates to continue to rise in 2014..» Read More
ALBANY, N.Y.-- New York officials say they've reached a settlement with Markel Insurance Co. that will result in $2.75 million in restitution to college students who were overcharged for insurance. They say Markel will also pay $990,000 in state penalties.
Three organizations, the American Council of Life Insurers, the American Benefits Council and the Investment Company Institute, which represents the mutual fund industry, contributed to the research and published the study.
WASHINGTON, Dec 3- Insurers fear that a retooling of the government-run health insurance website and a fresh surge of enrollees has opened the floodgates to more problems for President Barack Obama's health policy overhaul, a trade group said on Tuesday.
MONTGOMERY, Ala.-- Alabama's health insurance program for education employees is looking at a $220 million shortfall in funding for the next fiscal year, which may have to be made up by requiring many participants to pay more.
HELENA, Mont.-- Montana's largest health insurer says it won't extend policies that don't meet coverage requirements under the new federal health care law. Spokesman John Doran said in a statement Monday that Blue Cross had prepared for 2014 by developing only Affordable Care Act-compliant plans.
The White House is offering more money to insurance companies as an incentive for them to let people keep coverage that was to have been canceled next year. The NYT reports.
UnitedHealth Group Inc.' s projections for earnings and revenue growth next year fall well short of Wall Street's expectations for the nation's largest health insurer. Funding cuts to Medicare Advantage coverage have fueled UnitedHealth's relatively conservative expectations for this year and next.
Insurers complain the back end systems, which are supposed to deliver consumer information to them, still aren't working.
Simon Burge, CIO of ATI Asset Management, explains why he likes Australian banks despite their pricing.
"The bottom line, healthare.gov is night and day from where it was on Oct 1," said Jeff Zients on Sunday, who is in charge of fixing the web site.
But specialists said weeks of work lie ahead, including a major reconfiguration of the computer hardware.
NEW YORK-- Old National Bancorp said Friday it will buy the insurance accounts serviced by the Evansville, Ind., branch of Wells Fargo Insurance. The Wells Fargo branch primarily serves commercial property and casualty accounts, and it will become part of the Old National Insurance unit. Shares of Old National Bancorp closed at $15.55 Friday.
NEW ORLEANS-- Louisiana's Department of Insurance has joined a lawsuit filed by Mississippi against the federal government to try to block rates from increasing Oct. 1 in the National Flood Insurance Program. Commissioner Jim Donelon said Wednesday that the department had filed an "amicus curiae, or friend of the court" brief in Mississippi's lawsuit.
A deal struck last weekend between Iran and six world powers over Tehran's nuclear programme leaves U.S. and European oil sanctions in place for six months. Iran secured limited relief including an easing of a ban on European ship insurance, which could allow the transport of some oil to its Asian customers.
*Citigroup has 34 mln retail accounts in Asia. HONG KONG, Nov 29- Five insurers including Metlife Inc and AIA Group Ltd have submitted final bids to have their products distributed by Citigroup in Asia, a deal estimated to generate more than $10 billion in revenue over 15 years, people familiar with the matter told Reuters.
HONG KONG, Nov 29- Five insurers including Metlife Inc and Manulife Financial Corp have submitted final bids to have their products distributed by Citigroup in Asia, a deal estimated to generate more than $10 billion in revenue over 15 years, people familiar with the matter told Reuters.
WASHINGTON, Nov 27- The Obama administration says it is on target to make its problematic health insurance website work smoothly for the "vast majority" of users by this weekend, but some Americans who want coverage by Jan. 1 may not be able to get it- even if they successfully navigate the portal and sign up for a plan.
WASHINGTON, Nov 27- In its current disarray, Obamacare is providing Republicans with a steady stream of stories that any campaign manager would consider priceless: tales of ordinary people, some dreadfully ill, with canceled health insurance thanks to President Barack Obama's healthcare law.
WASHINGTON, Nov 27- The Obama administration on Wednesday announced a one-year delay in online health insurance enrollment for small businesses with 50 or fewer full-time workers that could qualify for subsidized coverage under Obamacare.