Latest Insurance industry News

President Donald Trump arrives to speak at Trump National Golf Club Bedminster in Bedminster, N.J., Friday, Aug. 7, 2020. (AP Photo/Susan Walsh)

AP FACT CHECK: Trump’s false push on preexisting conditions

Aug. 8, 2020 1:47 PM EDT

WASHINGTON (AP) — President Donald Trump is teasing the possibility of executive action to require health insurance companies to cover preexisting medical conditions, something that he says “has never been done before.” It’s been done before. People with such medical problems have...

FILE- In this Dec. 4, 2017, file photo, the CVS Health logo appears above a trading post on the floor of the New York Stock Exchange.  CVS Health’s second-quarter performance beat Wall Street’s expectations as the drugstore chain and pharmacy benefits manager experienced reduced benefit costs. It raised its full-year earnings forecast. (AP Photo/Richard Drew, File)

CVS posts strong 2Q, with virus delaying elective procedures

Aug. 5, 2020 1:55 PM EDT

CVS Health reported surprisingly strong second-quarter earnings as people postponed elective medical procedures during the COVID-19 pandemic, and it raised its profit expectations for the year. The postponed procedures led to lower benefit costs for the company's Aetna insurance arm, a main reason net income...

FILE - In this May 14, 2019, file photo a flag flies the outside of the corporate headquarters building of health insurance company Anthem is shown in Indianapolis. Anthem’s second-quarter profit doubled to nearly $2.3 billion, as a pandemic-induced drop in claims and a new business pushed the Blue Cross-Blue Shield insurer’s earnings past expectations.  But the nation’s second-largest insurer left its 2020 earnings forecast unchanged, following a pattern established by its competitors. (AP Photo/Michael Conroy, File)

Insurer Anthem's 2Q profit swells, helped by drop in claims

Jul. 29, 2020 10:23 AM EDT

INDIANAPOLIS (AP) — Anthem’s second-quarter profit doubled to nearly $2.3 billion, as a pandemic-induced drop in claims and a new business pushed the Blue Cross-Blue Shield insurer’s earnings past expectations. The insurer’s stock jumped 6% at the start of trading Wednesday, erasing...

Nick Gavrilides, the owner of the Soup Spoon, poses at one of his two restaurants in Lansing, Mich., Thursday, July 16, 2020. Restaurants, bars and other merchants struggling to stay afloat during the coronavirus pandemic are desperately reaching out for a lifeline from insurers that in turn contend they are being miscast as potential saviors. In one of the first decisions issued on that question, a Michigan state judge sided with an insurer's rejection of a claim for $650,000 for two months of losses that Gavrilides said he suffered at two restaurants. (AP Photo/Paul Sancya)

Struggling merchants, insurers battle over pandemic coverage

Jul. 28, 2020 8:54 PM EDT

Restaurants, bars and other merchants struggling to stay afloat during the coronavirus pandemic are desperately reaching out for a lifeline from insurers that in turn contend they are being miscast as potential saviors. Shutdowns and crowd restrictions imposed by state and local governments to limit the spread of...

Dem AGs sue to stop rule revoking transgender protections

Jul. 20, 2020 6:46 PM EDT

NEW YORK (AP) — A coalition of Democratic state attorneys general sued the Trump Administration on Monday, seeking to block next month’s implementation of a rule overturning Obama-era protections for transgender people against sex discrimination in health care. New York Attorney General Letitia...

The Mutual of Omaha logo is seen at the company's corporate headquarters in Omaha, Neb., Friday, July 17, 2020. Insurance company Mutual of Omaha has announced it will replace its longtime corporate logo, which features a depiction of a Native American chief. (AP Photo/Nati Harnik)

Mutual of Omaha insurance firm removing longtime Indian logo

Jul. 17, 2020 5:46 PM EDT

OMAHA, Neb. (AP) — Mutual of Omaha plans to replace its longtime corporate logo, which for 70 years has featured a depiction of a Native American chief, the insurance company announced Friday. The move comes as corporations and sports teams around the country face increasing pressure to dump nicknames and...

FILE - This Oct. 16, 2012, file photo, shows a portion of the UnitedHealth Group Inc.'s campus in Minnetonka, Minn. UnitedHealth Group reports financial results Wednesday, Jan. 15, 2020. (AP Photo/Jim Mone, File)

With elective procedures delayed, UnitedHealth profit spikes

Jul. 15, 2020 11:01 AM EDT

The nation’s largest health insurer more than doubled its second-quarter profit, as COVID-19 shutdowns kept patients out of doctor’s offices and off operating tables. UnitedHealth’s medical costs tumbled 11% to $34.68 billion with demand for care suppressed from the middle of March until it...

FILE - In this April 14, 2020, file photo FDNY firefighters gather to applaud medical workers as attending physician Mollie Williams, left, wears personal protective equipment due to COVID-19 concerns outside Brooklyn Hospital Center in New York. Essential workers are lauded for their service and hailed as everyday heroes. But in most states nurses, first responders and frontline workers who get COVID-19 on the job have no guarantee they'll qualify for workers' comp to cover lost wages and medical care. (AP Photo/John Minchillo, File)

COVID-19 heroes must jump through hoops for workers' comp

Jul. 11, 2020 8:21 AM EDT

WASHINGTON (AP) — Lauded for their service and hailed as everyday heroes, essential workers who get the coronavirus on the job have no guarantee in most states they'll qualify for workers' compensation to cover lost wages and medical care. Fewer than one-third of the states have enacted policies that shift...

President Donald Trump listens during a roundtable on Venezuela at Iglesia Doral Jesus Worship Center, Friday, July 10, 2020, in Doral, Fla. (AP Photo/Evan Vucci)

Judge tosses Trump rule on billing for abortion coverage

Jul. 10, 2020 5:48 PM EDT

WASHINGTON (AP) — A federal judge in Baltimore on Friday struck down a Trump administration rule that abortion rights advocates called a maneuver to restrict access but officials defended as merely following the law. The decision by U.S. District Judge Catherine C. Blake affects women covered under the...

FILE - This April 7, 2020, file photo shows an Allstate sign in Northbrook, Ill. Allstate says it has agreed to acquire National General Holdings Corp. for $4 billion in cash as it expands its insurance portfolio. National General shareholders will get $32 per share from Allstate, plus closing dividends of about $2.50 per share, for a total of about $34.50 per share. National General offers a range of property-liability products through independent agents including “non-standard” auto insurance, the Northbrook, Ill.-based Allstate said.(AP Photo/Nam Y. Huh, File)

Allstate acquires National General for $4 billion in cash

Jul. 8, 2020 9:21 AM EDT

SILVER SPRING, Md. (AP) — Allstate is buying National General Holdings for $4 billion in cash, expanding the scope of its insurance holdings. National General shareholders will get $32 per share that they hold, plus closing dividends of about $2.50 per share, for a total of about $34.50 each. National...