With midterm congressional elections bearing down, the government changed its regulation of Obamacare to give consumers and states more flexibility to decide on their health plans, insurers more time to sign up customers and taxpayers a chance to avoid more costs.
United Services Automobile Association, the provider of insurance and other financial products catering to military families, said Chief Executive Officer Josue Robles will retire in the first quarter of 2015.
American Financial Group Inc., the insurer run by Cincinnati’s Lindner family, agreed to buy Summit Holdings Southeast Inc. from Liberty Mutual Group Inc. for about $250 million to build its workers’ compensation business.
Genworth Financial Inc. said U.S. and Bermuda-based affiliates assumed about $8.3 billion of reserves from its main units at the end of 2012, as regulators question insurers about transferring risk to subsidiaries.
Health plans led by WellPoint Inc. and UnitedHealth Group Inc. can subtract taxes and include as costs “activities that improve health care quality” to meet mandates in the U.S. health-care overhaul on how much they spend on medical care, a draft report says.
The package arrived at Cindy Lohman’s home in Great Mills, Maryland, just two weeks after she learned that her son, Ryan, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-inch-by- 12-inch envelope from Prudential Financial Inc ., which handles life insurance for the Department of Veterans Affairs.
Eric Kolchinsky, the former Moody’s Investors Service analyst who told Congress the ratings company cared more about money than accuracy, was hired by the National Association of Insurance Commissioners.
National Association Of Insurance Commissioners Photos