New York City will spend $100 million a year on health care expansion – covers illegal immigrants

NEW YORK (AP) — New York City will spend up to $100 million per year to expand health care coverage to people without health insurance, including immigrants who are in the U.S. illegally, Mayor Bill de Blasio announced Tuesday. The plan involves expanding the city’s existing public insurance program and providing uninsured people with access to affordable care at city-owned […]

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Insurance companies sue PG&E over California wildfire damages

SACRAMENTO, Calif. — Several insurance companies have filed lawsuits blaming Pacific Gas & Electric Co. for a deadly California wildfire that destroyed 14,000 homes and triggered billions of dollars in insurance claims. The lawsuits filed by Allstate ALL, -1.64% , State Farm, USAA and their subsidiaries come on top of several other cases filed by victims of the Camp Fire, which […]

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FEMA reverses decision to stop issuing new flood insurance policies

WASHINGTON (Reuters) – The Federal Emergency Management Agency (FEMA) said on Friday it will resume issuing new flood insurance policies during the partial U.S. government shutdown, reversing a decision announced two days ago. FEMA, which oversees the National Flood Insurance Program, said it was rescinding guidance issued on Wednesday that it would not be able to sell new policies during […]

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11 questions to ask before choosing hospice care

Making the decision to transition your loved one to hospice care (for people whose medical conditions mean they are expected to die within six months) is a time of emotional upheaval. It’s often accompanied by confusion, with little understanding of available options or how hospice actually works. Knowing ahead of time which hospice services are available and the tasks you […]

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Should we really wait until age 70 to receive Social Security benefits?

Everyone “knows” that you should defer receiving Social Security benefits until age 70. But to what extent does this advice depend on the federal government making good on its Social Security commitments? The Social Security Administration trust fund is currently projected to run out of money in 15 years, and if no changes are made before then, in 2034 will […]

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Zurich In Deal To Transfer UK Legacy Employers’ Liability Portfolio To Catalina

Zurich Insurance Group AG (ZURVY) announced Monday that its subsidiary Zurich Insurance plc has entered into an agreement with Catalina Holdings (Bermuda) Ltd and certain of its subsidiaries, a specialist acquirer of legacy insurance portfolios, to transfer its pre-2007 UK legacy employers’ liability policies to Catalina. As of December 31, 2017, the portfolio comprised gross liabilities of $2 billion relating […]

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U.S. senators write to regulators on Robinhood's botched checking plans

WASHINGTON/NEW YORK (Reuters) – A bipartisan group of U.S. senators sent a letter to regulators on Thursday expressing concern that financial technology startup Robinhood may not be offering full transparency to its customers over the botched launch of its new cash management service. The senators asked for an update on how regulators “carefully monitor fintechs who, intentionally or not, blur […]

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Freedom Insurance shares halve as flags ASIC investigation, liquidity woes

Freedom Insurance Group's shares halved on Thursday after it warned it may face a liquidity shortfall next year and revealed that the corporate watchdog had started an investigation into misconduct highlighted at the royal commission. The beleaguered life insurance distributor, whose shares have fallen more than 88 per cent this year as of last close, also flagged customer remediation costs […]

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MAS looks into how insurers pay agents

The authorities are looking more deeply into how life insurance providers here are compensating agents, according to sources. The move by the Monetary Authority of Singapore (MAS) has triggered unease in the industry. The regulator has, among other moves, roped in senior agency leaders to help with queries, and visited the offices linked to life insurers, The Straits Times understands. […]

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