Insurance

NHIA Board Interacts With Private Health Insurance Scheme Operators

The governing board and management of the National Health Insurance Authority (NHIA) has met with Private Health Insurance Scheme (PHIS) operators to discuss ways to better improve their services.

The stakeholder engagement held in Accra was under the theme “Challenges facing the private health insurance industry.”

The meeting which was at the instance of the NHIA Board, covered a broad range of topics such as governance, operational, financial and general challenges in Ghana’s Private Health Insurance Scheme industry.

The NHIA Board Chair, Professor Adu-Gyamfi and other members of the Board responded to concerns raised by the participants and took notes for future discussions.

Professor Adu-Gyamfi urged the participants to desist from acts of impropriety that could derail the financial position of mutual health insurance scheme operators.

The NHIA’s Chief Executive, Dr. Lydia Dsane-Selby reassured the stakeholders that the NHIA would help sustain their operations.

Director of the PHIS Directorate, Hudu

Read More

Talisman Casualty Insurance Company Emphasizes Surety Program – Press Release

LAS VEGAS, NV / ACCESSWIRE / September 22, 2020 / Talisman Casualty Insurance Company, a protected cell captive insurance firm based in Las Vegas, Nevada, wants to emphasize their surety program that is based on the captive insurance model to ensure reliability, creativity, and flexibility. With this particular program, they are offering various kinds of surety bonds. The surety bond is issued for the purpose of protecting a particular party against losses if the principal is unable to comply with an obligation towards the first party, such as finishing a construction project or paying what is owed to suppliers and subcontractors. The first party is often the homeowner or property owner who, in the absence of a surety bond, will be obliged to pay the subcontractors and suppliers, as well as bear the losses from an unfinished construction project.

Talisman Casualty Insurance Company has based its surety program on the

Read More

Talisman Casualty Insurance Company LLC Offers Surety Programs – Press Release

LAS VEGAS, NV / ACCESSWIRE / September 22, 2020 / Talisman Casualty Insurance Company LLC, a Las Vegas, Nevada based insurance company, would like to offer their surety programs to interested parties. A surety bond is a promise by a surety or guarantor to pay one party a certain amount if the second party fails to meet an obligation, such as fulfilling the terms of a contract. The bond protects the obligee against all losses that may result from the principal’s failure to meet the obligation.

There are many different kinds of surety bonds, and Talisman Casualty Insurance has a wide range of options to choose from. Payment and performance bonds are one type of bond offered by the insurance provider. They are often used in the construction industry as a form of protection for an owner; ensuring that their contractor will complete the job, according to the contract, and

Read More

Local insurance company hiring 30 customer service representatives

Jacksonville-based Brightway Insurance has openings for its Customer Service Representative role, which takes inbound calls from customers and agents. 



a close up of a sign


© Provided by WTLV-TV Jacksonville


“If you have a background in customer service, insurance, retail, sales or a related customer-facing field, we encourage you to apply online,” said Brightway’s Senior Director of Human Resources, Linda Hill. “We specifically want people who have great communication and interpersonal skills.”

Brightway is currently hiring to fill the next two classes scheduled to begin Monday, Oct. 14, and Monday, Nov. 9. 

Candidates who want to be considered for the October class should submit their applications this week.

According to representatives for the insurance company, employees enjoy a competitive salary, paid time off and benefits, including medical, dental, life and disability insurance. They also enjoy a 401(k) plan with a market-leading 4% match with no vesting period, according to representatives. Employees are eligible for bonuses and

Read More

Sagicor Life Insurance Company and Vida Life Announce Partnership

SCOTTSDALE, Ariz., Sept. 14, 2020 /PRNewswire/ — Sagicor® Life Insurance Company (Sagicor) and Vida Life (Vida) are pleased to announce that they have entered into a strategic partnership. Sagicor’s products and industry-leading Accelewriting® underwriting process combined with Vida’s insights in creating a quality bi-lingual experience will allow both companies to provide a new, innovative life insurance purchasing experience. Together, they will provide individuals with the opportunity to purchase insurance products that will protect them, help them to grow, and allow them to give back to their communities.

“This partnership supports Sagicor’s continued commitment to innovative life insurance products that are easily accessible to our family, friends, and neighbors,” said Bart Catmull, President and Chief Operating Officer. “With Vida’s advanced relationships in the Hispanic community and Sagicor’s solutions, we have a unique opportunity to continue to provide growth and protection to our customers

Read More

IRS Updates Life Insurance Company Reserve Regulations

(Credit: Allison Bell/ALM)

The Internal Revenue Service — an arm of the U.S. Treasury Department — has completed work on two documents that might, or might not, increase U.S. life insurance companies’ federal income taxes.

One document is a set of final regulations, “Computation and Reporting of Reserves for Life Insurance Companies.” The IRS is in the process of putting the regulations into effect, by getting the regulations published in the Federal Register.

The regulations affect what happens to life insurers’ income taxes when the insurers change the methods they use to account for the reserves supporting life insurance benefits obligations, annuity benefits obligations, and other obligations.

The other document, IRS Revenue Ruling 2020-19, governs when a reserving change a life insurer makes is significant enough to count as a “change in basis” for income tax calculation purposes. That document is supposed to help life insurers apply the new final

Read More

Falcon Insurance Company Chooses Shift Technology for Fraud Detection

Innovative Auto Insurer Views Effective Fraud Detection as Critical to Achieving Company Mission

PARIS and BOSTON, Sept. 9, 2020 /PRNewswire/ — Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry, today announced the company has been selected to support fraud detection initiatives for Falcon Insurance Company. The Illinois-based auto insurer will deploy Force, Shift’s fraud detection solution to accurately and efficiently uncover suspicious behaviors in the claims processes.

Shift Technology (PRNewsfoto/Shift Technology)

Falcon has built a successful business on an ethos of simplicity, creativity, integrity, and efficiency. As such, the company strongly believes that the right combination of technology and expertise results in a fast and fair claims experience, the time when policy holders need insurers the most. Fraud negatively impacts the customer experience through not only higher premiums but also longer time to settlement. Knowing this,

Read More

Huron Capital’s High Street Insurance Partners Adds Two New Partner Agencies to Portfolio

Bloomberg

Perelman Selling Almost Everything as Pandemic Roils His Empire

(Bloomberg) — Bit by bit, billionaire Ronald O. Perelman is parting with his treasures.His Gulfstream 650 is on the market. So is his 257-foot yacht. Movers hauled crates of art from his Upper East Side townhouse after he struck a deal with Sotheby’s to sell hundreds of millions of dollars of works.He’s unloaded his stake in Humvee-maker AM General, sold a flavorings company that he’d owned for decades and hired banks to find buyers for stock he holds in other companies.What in the world is going on with Ron Perelman? His exploits on and off Wall Street have been tabloid fare in New York since the go-go 1980s. But now, at an age when most fellow billionaires are kicking back, Perelman, 77, is facing a range of financial challenges, most of all at Revlon Inc., his cosmetics giant.Once touted as

Read More

Health insurance startup Oscar Health is gearing up for a 2021 IPO

  • Oscar Health, the health insurance company cofounded by Joshua Kushner and Mario Schlosser, is prepping for a public listing in 2021, says Axios.
  • The New York-based company initially aimed to provide coverage under the Affordable Care Act at the beginning of its launch in 2012, but has since expanded into other health insurance markets. 
  • It’s raised around $1.5 billion from major venture capital firms, including Thrive Capital, Alphabet, and Founders Fund, and is now hiring banks ahead its plans to go public. 
  • Though the move isn’t a surprise in today’s startup IPO market, it’s suspected to be loosely tied to the election, as the winning candidate may work to shake up the health insurance industry.
  • Visit Business Insider’s homepage for more stories.

Oscar, the health insurance company cofounded in 2012 by Joshua Kushner and Mario Schlosser, has hired banks to help the firm go public in 2021, Axios has learned

Read More

Owner of major Broadway theaters sues insurance companies over coronavirus payouts

Broadway theater owner Jujamcyn Theaters is suing its insurance companies, Federal Insurance Company and Pacific Indemnity Company, for paying merely $250,000 to cover what the company claims should be “tens of millions of dollars” in coronavirus-related losses.

NETFLIX ANNOUNCES CAST FOR NEW ‘PINOCCHIO’ ANIMATED MUSICAL

The lawsuit, filed with the Southern District of New York, alleges that Federal Insurance Company “flatly denied coverage, refusing to pay even a penny to help Jujamcyn” while Pacific Indemnity paid the company $250,000, a fraction of what it claims it should’ve been paid under its insurance policy.

“Federal and Pacific knew, and publicly acknowledged, that they could be obligated to pay for massive losses in the event of a pandemic. Federal and Pacific also knew that they could use common and widely available exclusions to guard against being obligated to pay for pandemic-associated losses,” Jujamcyn said in the lawsuit. “However, they decided not to

Read More