Latest Insurance industry News

Nevada jury: Health insurers owe ER doctors $60M in damages

Dec. 07, 2021 22:29 PM EST

LAS VEGAS (AP) — One of the largest U.S. health insurance companies and its branches in Nevada were found liable Tuesday for $60 million in punitive damages for underpaying out-of-network emergency medical providers. A state court jury said three plaintiffs headed by urgent care...

Michigan drivers will get $400 insurance refund per vehicle

Dec. 07, 2021 21:07 PM EST

LANSING, Mich. (AP) — All Michigan drivers with auto insurance will receive a $400 per-vehicle refund next spring, Gov. Gretchen Whitmer and a top regulator said Tuesday. Their announcement came more than a month after the governor requested the checks by citing a...

China tries to reassure on Evergrande as default fears rise

Dec. 06, 2021 08:00 AM EST

BEIJING (AP) — China’s central bank expanded the supply of money for lending Monday as Beijing tried to reassure its public and investors the economy can be protected if a troubled real estate developer’s $310 billion mountain of debt collapses. Evergrande Group's...

North Carolina Insurance Department accuses woman of fraud

Dec. 05, 2021 11:52 AM EST

RALEIGH, N.C. (AP) — A North Carolina woman involved in an automobile accident has been charged by the state Department of Insurance with trying to get payment from an insurance company even though her coverage had lapsed. According to a news release, the Greensboro...

2 Louisiana insurance companies fail after Hurricane Ida

Dec. 05, 2021 11:42 AM EST

BATON ROUGE, La. (AP) — Insurance companies operating in Louisiana will be charged at least $100 million to pay the claims of two failed property insurers who went belly up in Hurricane Ida’s aftermath. But the cost of dealing with the insolvent insurers ultimately will fall on the state...

Blue Cross commits $25M to address health care inequities

Dec. 05, 2021 09:11 AM EST

BOSTON (AP) — Blue Cross Blue Shield of Massachusetts is committing $25 million to support local health care organizations in their efforts to eliminate racial and ethnic inequities in care, the insurer said. The funding announced Thursday will be distributed by the...

N. Carolina woman accused of forging insurance claim forms

Dec. 03, 2021 08:42 AM EST

RALEIGH, N.C. (AP) — Authorities have arrested a North Carolina woman and accused her of forging bills and claim forms to get more than $70,000 from an insurance company, the N.C. Department of Insurance said. Insurance Commissioner Mike Causey says special agents with...

Nevada jury says health insurer undercut ER reimbursements

Dec. 01, 2021 19:27 PM EST

LAS VEGAS (AP) — A jury in Nevada has found one of the nation’s largest health insurers liable for underpaying millions of dollars to out-of-network emergency medical providers in what plaintiffs’ attorneys argued was a systematic bid to boost company profits. The...

Lawmakers outline insurance complaints after Hurricane Ida

Dec. 01, 2021 15:47 PM EST

BATON ROUGE, La. (AP) — Slow responses to damage claims. Constant switch-ups of insurance adjusters assessing the destruction. Low payment offers forcing people unnecessarily into litigation to get a fair deal. Louisiana lawmakers and others said Wednesday that those...

Pharmacy marketer gets 30 months in health care fraud scam

Dec. 01, 2021 12:40 PM EST

JACKSON, Miss. (AP) — A pharmacy marketer has been sentenced to 30 months in prison for his role in a scheme to defraud a military health care program and private insurance companies, federal prosecutors said. Thomas Wilburn Shoemaker, 57, of Rayville, Louisiana, was...