Latest Insurance industry News

PG&E faces potential showdown over its bankruptcy plan

Nov. 12, 2019 7:37 PM EST

SAN FRANCISCO (AP) — California Gov. Gavin Newsom is stepping up pressure on Pacific Gas & Electric to fork over billions more in cash to pay thousands of people who lost homes in wildfires that drove the utility into bankruptcy. The rising tensions were scheduled to be aired out in a bankruptcy court...

FBI: Cybercrimes on the rise because of sophisticated scams

Nov. 9, 2019 7:49 PM EST

PORTLAND, Ore. (AP) — On Dec. 14, 2018, Aaron Cole was about to buy a new house and received an email that he thought was from his title company, directing him to make a $123,000 deposit. Cole complied, not realizing that a sophisticated hacker network had likely been spying on his communications with the...

PG&E falls into deeper hole in 3Q with $1.6 billion loss

Nov. 7, 2019 4:43 PM EST

Pacific Gas & Electric reported another huge loss on Thursday as the fallout from catastrophic wildfires blamed on its outdated transmission lines drive the bankrupt utility into a deeper hole. The company estimated it's facing a bill of more than $6 billion this year alone to pay for devastating fires in...

CVS gets a 3Q booster shot from Aetna as revenue soars

Nov. 6, 2019 11:18 AM EST

CVS Health revenue surged in the third quarter as the drugstore chain and pharmacy benefits manager added health insurance and pushed ahead with a plan to change how many of its stores operate. The company said Wednesday its roughly $69 billion acquisition of the insurer Aetna helped its top line climb 36% in the...

Warren vows no middle class tax hike for $20T health plan

Nov. 1, 2019 5:51 PM EDT

WASHINGTON (AP) — Elizabeth Warren on Friday proposed $20 trillion in federal spending over the next decade to provide health care to every American without raising taxes on the middle class, a politically risky effort that pits the goal of universal coverage against skepticism of government-run health...

Boy Scouts to boost annual youth fees by more than 80%

Oct. 31, 2019 4:13 PM EDT

NEW YORK (AP) — Facing a potentially ruinous wave of new sex-abuse lawsuits, the Boy Scouts of America is increasing its annual youth membership fee by more than 80%. The group says the move, which has dismayed many of the Scouts' adult volunteer leaders who warn the increase is prohibitively steep for...

Georgia governor releases plans for health care overhaul

Oct. 31, 2019 4:08 PM EDT

ATLANTA (AP) — Georgia Gov. Brian Kemp unveiled a much-anticipated plan Thursday that aims to reduce premiums for residents who buy health insurance under the Affordable Care Act and give the state control of billions of dollars in federal health care funds. The proposal could eventually lead to subsidies...

The Latest: Georgia gov says health plan creates 'stability'

Oct. 31, 2019 3:49 PM EDT

ATLANTA (AP) — The Latest on Georgia Gov. Brian Kemp's health care proposal (all times local): 3:50 p.m. Republican Gov. Brian Kemp says his newly unveiled plan to overhaul Georgia's health insurance market will give "more stability and predictability" to Georgia families. The proposal was released at a...

Kentucky-based insurer Humana to lay off 2% of workforce

Oct. 29, 2019 6:03 AM EDT

LOUISVILLE, Ky. (AP) — A health insurance provider says it's laying off more than 800 people. The Louisville, Kentucky-based Humana announced Monday it'd be cutting 2% of its workforce by the end of the year, with some employees being let go as early as Thursday. Severance will be provided. The...

Racial bias in health care software aids whites over blacks

Oct. 25, 2019 5:52 PM EDT

A widely used software program that helps guide care for millions of patients is flawed by unintentional racial bias that leads to blacks getting passed over for special care, according to a new study. The software predicts costs rather than sickness. It is used by U.S. insurers and hospitals to direct...