Insurance in the United States

The NICB Announces Its Inaugural 'Contractor Fraud Awareness Week'

Retrieved on: 
Wednesday, July 7, 2021
Insurance fraud, Crime, Insurance in the United States, Law enforcement in the United States, National Insurance Crime Bureau, Crimes, Property crimes, Fraud, David Glawe, Property law, Human behavior, Vehicle Theft Protection Program

Contractor Fraud Awareness Weekis dedicated to spreading the word about these bad actors.

Key Points: 
  • Contractor Fraud Awareness Weekis dedicated to spreading the word about these bad actors.
  • On July 14th, NICB President and CEO David Glawe will appear on local television networks across the country in states notorious for natural disasters discussing post-disaster fraud.
  • For more information about Contractor Fraud Awareness Week and how to become a partner, visit the NICB website and the Contractor Fraud Awareness Week web page to join the National Insurance Crime Bureau on the front line to educate consumers on how they can protect themselves following a catastrophe.
  • Sign up now to partner in NICB's inaugural Contractor Fraud Awareness Week.

First American Acquires Georgetown Title

Retrieved on: 
Thursday, July 1, 2021
Professional services, Legal, Insurance, Finance, Construction & Property, REIT, Banking, Companies, Finance, Insurance in the United States, Financial services, Insurance, ING Group, Title insurance, First American Corporation, Amrock, First American, Georgetown Title, FIRST AMERICAN, GEORGETOWN TITLE

Georgetown Title will become part of the direct operations of First Americans largest subsidiary, First American Title Insurance Company, strengthening First American Title Insurance Companys ability to serve customers in Williamson County.

Key Points: 
  • Georgetown Title will become part of the direct operations of First Americans largest subsidiary, First American Title Insurance Company, strengthening First American Title Insurance Companys ability to serve customers in Williamson County.
  • Georgetown Titles customers will benefit from access to industry-leading resources and state-of-the-art technology available from one of the nations largest title and settlement providers.
  • First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; banking, trust and wealth management services; and other related products and services.
  • Georgetown Title provides title insurance and settlement services to Williamson County and Central Texas.

Wells Fargo Issues Statement Regarding the Federal Reserve’s Stress Test Results

Retrieved on: 
Monday, June 28, 2021
Finance, Banking, Professional services, White House, Federal Government, Public policy, Government, Financial District, San Francisco, Comprehensive Capital Analysis and Review, Consumer Financial Protection Bureau, Insurance in the United States, United States federal banking legislation, CCAR, Financial services in the United States, Wells Fargo, Finance, Financial services, Fargo, WFC

Wells Fargo & Company (NYSE: WFC) today announced that it has completed the 2021 Comprehensive Capital Analysis and Review (CCAR) stress test process.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) today announced that it has completed the 2021 Comprehensive Capital Analysis and Review (CCAR) stress test process.
  • The Federal Reserve Board (FRB) has indicated that it will publish the Companys final SCB by August 31, 2021.
  • We are pleased that this years CCAR stress test confirmed the significant strength of our capital position.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Bank of America Comments on Stress Test Results; Plans 17 Percent Dividend Increase

Retrieved on: 
Monday, June 28, 2021
Banking, Professional services, Finance, Comprehensive Capital Analysis and Review, Consumer Financial Protection Bureau, Insurance in the United States, United States federal banking legislation, CCAR, Dividend, Federal Reserve, Financial services in the United States, Finance, Financial services

Bank of America today commented on the results of the Federal Reserves 2021 Comprehensive Capital Analysis and Review (CCAR) and announced plans to increase its quarterly common stock dividend by 17 percent.

Key Points: 
  • Bank of America today commented on the results of the Federal Reserves 2021 Comprehensive Capital Analysis and Review (CCAR) and announced plans to increase its quarterly common stock dividend by 17 percent.
  • Based on the 2021 CCAR results, Bank of America will be subject to a preliminary 2.5 percent stress capital buffer (SCB), unchanged from the current level.
  • These forward-looking statements represent the current expectations, plans or forecasts of Bank of America based on available information.
  • www.bankofamerica.com
    For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts .

American Family Life Insurance Company and Protective Life Insurance Company to Provide Customers With More Retirement Options

Retrieved on: 
Thursday, June 24, 2021
Professional services, Insurance, Finance, Insurance, Finance, Annuities, Money, Insurance in the United States, United States contract law, Connect, Protective Life, Financial services, Life annuity, Life insurance, the American Family Insurance group, Protective Life Corporation, THE AMERICAN FAMILY INSURANCE GROUP, PROTECTIVE LIFE CORPORATION

American Family Insurance Life Company has entered into a relationship with Protective Life Insurance Company (Protective Life) to give American Family agency owners more ways to help meet their customers retirement needs.

Key Points: 
  • American Family Insurance Life Company has entered into a relationship with Protective Life Insurance Company (Protective Life) to give American Family agency owners more ways to help meet their customers retirement needs.
  • View the full release here: https://www.businesswire.com/news/home/20210624005750/en/
    The opportunity with Protective Life gives American Family agency owners the ability to offer four of Protective Lifesmost popular annuity products through American Family Brokerage, Inc.
    American Family Life Insurance Company is always open to working with other companies to help our agency owners provide service and product options that add value and protection for customers, said Chris Eason, American Family associate vice president of Life product management.
  • The four annuities from Protective Life allow American Family agency owners to meet additional financial product needs, providing more options for customers.
  • The American Family Insurance group also includes CONNECT , powered by American Family Insurance, The General , Homesite and Main Street America Insurance .

Blue Cross Blue Shield Plans’ Administrative Cost Growth Decelerated in 2020

Retrieved on: 
Wednesday, June 23, 2021
Managed care, Accounting, Congressional News, Views, General Health, Professional services, Public policy, Government, Healthcare reform, Consumer, Health, Public policy, Other Health, Other Professional Services, Other Consumer, Insurance, Human resources, Finance, Consulting, Health maintenance organizations, Healthcare reform in the United States, Blue Cross Blue Shield Association, Insurance in the United States, Medicare, Blue Shield, Health

In 2020, Blue Cross Blue Shield Plans costs increased by 5.2% per member, down from 6.6% and 6.7% in 2019 and 2018, respectively.

Key Points: 
  • In 2020, Blue Cross Blue Shield Plans costs increased by 5.2% per member, down from 6.6% and 6.7% in 2019 and 2018, respectively.
  • Navigator excerpts from the 2021 Blue Cross Blue Shield Plan edition of the Sherlock Benchmarks.
  • Surveyed Plans comprise 61% of the members of Blue Cross Blue Shield Plans not served by publicly-traded companies.
  • Besides the Blue Cross Blue Shield universe, other universes include Independent/Provider-Sponsored plans, Medicare plans and Medicaid plans.

Blue Cross and Blue Shield of Illinois Selects Startups for Early Stage Innovation Accelerator Program

Retrieved on: 
Tuesday, June 22, 2021
Insurance in the United States, Health maintenance organizations, Insurance companies, Insurance, Blue Cross Blue Shield Association, Blue Cross, Health Care Service Corporation, Blue Shield

CHICAGO, June 22, 2021 /PRNewswire/ --Blue Cross and Blue Shield of Illinois (BCBSIL) has named the first cohort of early-stage start ups to participate in the BCBSIL Innovation Accelerator program.

Key Points: 
  • CHICAGO, June 22, 2021 /PRNewswire/ --Blue Cross and Blue Shield of Illinois (BCBSIL) has named the first cohort of early-stage start ups to participate in the BCBSIL Innovation Accelerator program.
  • "We see the startup community as an essential partner in advancing innovation," said Steve Hamman, president of Blue Cross and Blue Shield of Illinois.
  • Blue Cross and Blue Shield of Illinois (BCBSIL) is committed to expanding access to quality, cost-effective health care to as many people as possible in Illinois.
  • BCBSIL is a division of Health Care Service Corporation, a Mutual Legal Reserve Company and an Independent Licensee of the Blue Cross and Blue Shield Association.

F&G Introduces New Category-Defining Annuity Product with "FILA"

Retrieved on: 
Monday, June 21, 2021
Annuities, Actuarial science, Finance, Money, Academic disciplines, Retirement, Insurance in the United States, United States contract law, Life annuity, F&G, Des Moines, Iowa, Insurance

It works like a RILA when the market is up and has similar guarantees of an FIA when it's down.

Key Points: 
  • It works like a RILA when the market is up and has similar guarantees of an FIA when it's down.
  • "Our new product serves the same customer needs as a RILA, and we are excited to help define and grow this new FILA category."
  • "FILAs give financial professionals an opportunity to introduce their clients to a product that provides both growth potential and peace of mind," said Ron Barrett, SVP Annuity Distribution at F&G.
  • F&G is a leading provider of annuity and life insurance products and is headquartered in Des Moines, Iowa.

American Land Title Association Applauds Reps. Dean and Armstrong for Reintroducing Bipartisan SECURE Notarization Act in the House

Retrieved on: 
Thursday, June 17, 2021
Insurance in the United States, American Land Title Association, Title insurance, Notary, Alta, Insurance, Organizations

WASHINGTON, June 17, 2021 /PRNewswire/ --The American Land Title Association (ALTA), the national trade association of the land title insurance industry, applauds Reps. Madeleine Dean (D-PA) and Kelly Armstrong (R-ND) and 31 other members of the House of Representatives for reintroducing the bipartisan Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2021, H.R.

Key Points: 
  • WASHINGTON, June 17, 2021 /PRNewswire/ --The American Land Title Association (ALTA), the national trade association of the land title insurance industry, applauds Reps. Madeleine Dean (D-PA) and Kelly Armstrong (R-ND) and 31 other members of the House of Representatives for reintroducing the bipartisan Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2021, H.R.
  • The legislation provides certainty for interstate recognition of RON and establishes minimum standards to ensure strong nationwide consumer protections.
  • By passing the SECURE Notarization Act, we can take a much-needed step into the future by modernizing the notarization process with a secure system that has proven to meet consumer expectations."
  • The American Land Title Association is the national trade association representing the land title insurance industry, which employs more than 120,000 people in the United States.

AM Best Revises Outlooks to Positive for California Healthcare Insurance Company, Inc., A Risk Retention Group

Retrieved on: 
Thursday, June 17, 2021
Insurance, Professional services, Insurance in the United States, Insurance, Credit rating agency, Risk retention group

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- (Excellent) of California Healthcare Insurance Company, Inc, A Risk Retention Group (CHI) (headquartered in Roseville, CA).

Key Points: 
  • AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- (Excellent) of California Healthcare Insurance Company, Inc, A Risk Retention Group (CHI) (headquartered in Roseville, CA).
  • The positive outlooks reflect favorable trends in CHIs performance relative to similarly assessed peers in the medical professional liability (MPL) insurance industry.
  • Rebates have proven to be an effective policyholder retention tool, through rewarding member-owners for loyalty and favorable loss experience.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.