Latest Insurance industry News

California objects to Berkshire Hathaway's sale of insurer

Oct. 17, 2019 6:51 PM EDT

OMAHA, Neb. (AP) — California regulators are objecting to Berkshire Hathaway's sale of one of its smaller insurance companies, but they may not have much of an argument. The California Department of Insurance said Thursday it is "disturbed" that the sale of Applied Underwriters moved forward without its...

Alaska city's insurance lawyer to handle rape claim case

Oct. 16, 2019 9:00 PM EDT

NOME, Alaska (AP) — An official in a small Alaska town said Wednesday that an attorney hired by the city's insurance company is handling a claim by a former 911 dispatcher who says her colleagues at the police department failed to investigate her report that a man raped her in her home. Nome's interim City...

Sutter Health, California settle massive antitrust case

Oct. 16, 2019 6:40 PM EDT

SAN FRANCISCO (AP) — One of California's largest hospital systems has reached an agreement to settle a massive class-action lawsuit over allegations that it abused its market power and has been overcharging patients for medical bills. Wednesday's announcement of an agreement offered no details but came...

Berkshire Hathaway completes sale of smaller insurance unit

Oct. 16, 2019 12:47 PM EDT

OMAHA, Neb. (AP) — Billionaire Warren Buffett's company has completed the sale of one of its smaller insurance companies. Berkshire Hathaway said in a filing with the Securities and Exchange Commission Tuesday it has sold Applied Underwriters, which sells workers' compensation insurance. Buffett said in...

Asian shares rise after Wall Street gain on solid earnings

Oct. 15, 2019 10:43 PM EDT

TOKYO (AP) — Asian shares were higher Wednesday after a gain on Wall Street boosted by healthy earnings reports from U.S. companies. Japan's benchmark Nikkei 225 rose 1.6% in morning trading to 22,554.05, while Australia's S&P/ASX 200 gained 1.0% to 6,720.10, while South Korea's Kospi added 0.6% to...

UnitedHealth hikes annual forecast, offers glimpse into 2020

Oct. 15, 2019 12:50 PM EDT

UnitedHealth Group raised its 2019 forecast and detailed another better-than-expected quarter Tuesday, but shares soared after company leaders mentioned next year's growth prospects. CEO David Wichmann told analysts it would be "reasonable and prudent" for them to set initial expectations for core operating...

California hospital chain going to court over high prices

Oct. 10, 2019 3:43 PM EDT

SAN FRANCISCO (AP) — One of California's largest hospital systems is facing a trial over accusations that it has used its market dominance to snuff out competition and overcharge patients for medical bills. The antitrust lawsuit against Sutter Health, which operates 24 hospitals with 5,500 doctors across...

Aging Holocaust survivors try to sue over Nazi-era insurance

Oct. 8, 2019 5:01 PM EDT

AVENTURA, Fla. (AP) — When David Schaecter was a child in Slovakia in the 1930s, he counted more than 100 people in his extended family. By the end of World War II, he alone survived. The rest had been killed in Nazi concentration camps or by roving SS death squads. Schaecter lost not only his family, but...

Doctors turn to thumbs for diagnosis and treatment by text

Oct. 8, 2019 10:55 AM EDT

SACRAMENTO, Calif. (AP) — Dr. Anna Nguyen spoke with none of the five patients she treated on a recent weekday morning. She didn't even leave her dining room. The emergency physician nevertheless helped a pregnant Ohio woman handle hip pain, examined a Michigan man's sore throat and texted a mom whose son...

Trump cites his support for Medicare, slams Medicare for All

Oct. 3, 2019 4:28 PM EDT

THE VILLAGES, Fla. (AP) — President Donald Trump on Thursday accused Democrats of an all-out attempt to “totally obliterate Medicare” and portrayed himself as the program’s defender as he signed a directive to expand the program’s private insurance options. Trump skipped past...