Latest Insurance industry News
California surgeon pleads guilty in sober living fraud case
LOS ANGELES (AP) — A surgeon and his girlfriend have pleaded guilty in an insurance fraud scheme that involved recruiting patients at Southern California sober living homes to undergo unnecessary surgeries and other procedures. Randy Rosen ran Wellness Wave, a surgical center in...
State courts say no COVID-19 loss insurance for restaurants
COLUMBIA, S.C. (AP) — The South Carolina Supreme Court said Wednesday that a sports bar chain could not recoup damages from its insurance policy over the COVID-19 pandemic and subsequent shutdown. The ruling in Sullivan Management, LLC v. Fireman’s Fund Insurance Company is the...
Editorial Roundup: New York
Advance Media New York. August 5, 2022, Editorial: Finally, Upstate, Crouse invite CNY into merger discussion After months of “radio silence,” SUNY Upstate Medical University will hold two public forums later this month to explain why it wants to acquire Crouse...
Security firm finds flaws in Indian online insurance broker
NEW DELHI (AP) — Last month, a cybersecurity startup told a major Indian online insurance brokerage it had found critical vulnerabilities in the company’s internet-facing network that could expose sensitive personal and financial data from at least 11 million customers to malicious hackers. ...
Buffett's firm reports $44B loss but its businesses thrive
OMAHA, Neb. (AP) — Warren Buffett’s company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted, but Berkshire Hathaway’s many operating companies generally performed well suggesting the overall economy is weathering the pressure from inflation...
EXPLAINER: Why is insulin so expensive and difficult to cap?
Washington (AP) — Reining in the soaring prices of insulin has thus far been elusive in Congress, although Democrats say they'll try again — as part of their economic package that focuses on health and climate. The price of the 100-year-old drug has more than tripled in the last...
Firm downgrades 3 insurers in Florida, adding to concerns
TALLAHASSEE, Fla. (AP) — A ratings agency has withdrawn ratings for two insurance companies and downgraded a third firm in Florida, raising concerns for homeowners who could end up paying more for insurance and further muddying a troubled market. Demotech, which rates 40...
Growing prescriptions help push CVS past Q2 expectations
CVS Health thumped second-quarter expectations and hiked its full-year forecast as growing prescription claims and COVID-19 test kits sales countered a drop in vaccinations. A longer cough, cold and flu season also brought in more business, and claims in CVS Health's biggest segment,...
Dems seem headed for climate, health win after ups and downs
WASHINGTON (AP) — It’s been more than a year in the making and has seen plenty of ups and downs. Now, a Democratic economic package focused on climate and health care faces hurdles but seems headed toward party-line passage by Congress next month. Approval would let President Joe...
Ruling leaves questions about Boy Scouts bankruptcy plan
DOVER, Del. (AP) — A Delaware bankruptcy judge has approved parts of the Boy Scouts of America’s reorganization plan but has rejected other provisions, saying in a ruling Friday that the organization has "decisions to make” regarding the plan. Judge Laurie Selber Silverstein...
