COVID-19 a bigger risk for Caribbean insurers than tropical storms, AM Best says

September 18, 2020.
Although tropical-storm activity through August reached record levels, the biggest threat to Caribbean property and casualty insurers’ profitability this year is the COVID-19 pandemic, AM Best said Friday.

Citi’s ESG fund makes its debut investment in biofuel, employment startups

September 18, 2020.
Citigroup, the third-largest U.S. bank by assets, said Friday that its new environmental, social and governance investment fund has put money into four startups focusing on sustainability initiatives.

Bank of Canada senior deputy governor Wilkins will not seek second term

Last modified September 17, 2020. Published September 17, 2020.
Carolyn Wilkins will not seek a second term as Bank of Canada senior deputy governor, setting an end date on her 20-year career at the bank after being passed over for the governor position in the spring.

US health insurers may have misled customers about preexisting conditions: GAO

September 16, 2020.
The U.S. Government Accountability Office found that sales representatives for several health insurers engaged in potentially deceptive practices by misleading customers about whether preexisting conditions were covered in policies.

JPMorgan picks ex-NBC executive to replace Lee Raymond as lead independent director

September 16, 2020.
JPMorgan Chase said Tuesday that Stephen B. Burke, a longtime board member, has been named as its next lead independent director, replacing former ExxonMobil Chairman and CEO Lee Raymond, who previously agreed to step down from the role amid pressure from environmentalists.

Canada’s Manulife to cover coronavirus-related travel interruptions, health expenses

September 16, 2020.
Canadian insurer Manulife will offer coverage for coronavirus-related travel interruptions and health expenses starting in October as part of a new travel insurance plan, the firm said Wednesday.

Apollo names leadership of impact investing platform as it embraces ESG trend

September 15, 2020.
Alternative investment manager Apollo named the leadership team of its new impact investing platform on Tuesday, becoming the latest private equity firm to pledge to focus on environmental, social and governance goals.

PNC Healthcare, AccessOne join to provide more patient-financing options for providers and consumers

September 15, 2020.
PNC Healthcare said Tuesday that it has begun a collaboration with AccessOne, a provider of patient-financing solutions, to increase financing capabilities for health care providers and insurers.

Insurtech Lemonade plans expansion into France

September 15, 2020.
Insurtech Lemonade said Tuesday that it will expand to France by the end of this year, making a move into its third European market.

Comerica Bank may put loan loss reserve growth on hold as borrowers show strength

September 14, 2020.
Comerica Bank is not expecting to increase loan loss reserves in the coming quarter despite the wider slowdown in the U.S. economy, a move prompted by surprising signs of resilience in many of its highest-risk borrowers.

Canada’s IGM Financial chief stepping down after early-stage Alzheimer’s diagnosis

September 14, 2020.
The president and CEO of Canada’s IGM Financial is stepping down for health reasons and will be replaced by a former Scotiabank executive, the wealth and asset management company said Monday.

Centene to expand health insurance exchange offerings in 15 states

Last modified September 11, 2020. Published September 11, 2020.
Centene Corporation, the largest provider of Health Insurance Marketplace plans, said Friday that it intends to grow its presence on the exchanges in 2021 by increasing the availability of its marketplace product suite in more than a dozen states.

JPMorgan tells trading floor staff to return to the office this month

September 10, 2020.
JPMorgan Chase, the second-largest U.S. financial sector employer, has told its trading floor staff to return to the office by Sept. 21, as banks increasingly take steps to gradually reopen their workplaces this fall.

US legislation would mandate insurance coverage for more hearing devices

September 10, 2020.
Private health insurance companies would be required to cover certain sometimes-crucial hearing devices, systems and related services under a bipartisan companion bill introduced Wednesday in the U.S. Senate.

BNY Mellon debuts automated medical and dental insurance claims tool

September 9, 2020.
Bank of New York Mellon has rolled out a new tool designed to streamline insurers’ payouts to medical and dental care providers, the latest addition to the asset servicing firm’s insurance claims and payments offerings.

Canadian commercial property insurers reducing coverage and raising rates: Aon

September 8, 2020.
Commercial insurers in Canada are pulling back on the coverage they offer and raising rates across a wide range of industries as COVID-19 accelerates a trend toward reduced risk appetite, insurance broker Aon said.

Private insurers can be sued by debt collectors under Medicare law, US court rules

September 8, 2020.
Insurers including Travelers and Liberty Mutual must face a collection agency’s lawsuit over failure to pay auto or workers’ compensation coverage for Medicare recipients who sought medical treatment, a U.S. appeals court ruled.

Houlihan Lokey snags Wells Fargo banker to lead new health care practice

September 3, 2020.
Houlihan Lokey has lured Keith Barry, a former Wells Fargo Securities managing director, to be head of medical technology, a new practice in its health care group, the Los Angeles-based investment bank said Thursday.

India’s Tata AIG launches AI-based insurance platform through WhatsApp: press report

September 2, 2020.
Tata AIG General Insurance has launched an artificial intelligence-powered digital insurance and customer service platform through WhatsApp, a tool the company said was an important step in expanding its digital offerings.

Great American debuts online accident and health insurance platform

September 1, 2020.
Great American Insurance Group on Tuesday launched the company’s first all-digital platform for accident and health coverage, a tool the company said would help brokers meet rising demand.