Two reports out this month shed light on ongoing changes in the health insurance industry. A congressional report released this week shows that the country’s four largest health care companies — Aetna, Humana, WellPoint, and United Health Group — increased their denials of coverage for people with pre-existing conditions by 49 percent from 2007-2009. This [...]
American International Group need not make payments to some former Bernard Madoff clients who said their homeowner insurance policies entitled them to coverage for alleged losses, a judge ruled, Reuters reported. Two California residents, Robert and Harlene Horowitz, had alleged $8.5 million of losses in Madoff’s Ponzi scheme, reflecting the amount on their final account [...]
Two years after rescuing AIG from the brink of collapse, the federal government is preparing to give up its majority stake in the insurance giant. AIG’s board met Wednesday with officials from the Treasury Department and Federal Reserve Bank to form a plan to trade the government’s $46 billion in preferred shares for common stock, [...]
Like it or not, Americans are getting new health insurance benefits this week. Who among us would say no to free preventive care? To banishing lifetime limits on coverage? To making sure little kids with medical problems can get insurance, and big kids with no insurance — up to age 26 – can stay on [...]
Asian stock exchanges are bracing for more initial public offerings from insurance companies over the next year, after AIA Group’s expected record offer next month, as regulatory changes and higher capital requirements force companies to tap stock markets, Reuters said. Asia will account for up to 40 percent of the global life insurance market’s growth [...]
Willis Group, the insurance company, said Wednesday that it had named ex-American International Group chief executive Martin J. Sullivan to the position of deputy chairman. Mr. Sullivan will head a new business in the company, Willis Global Solutions, which will sell insurance and risk management advice globally. Mr. Sullivan will report to the head of [...]
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