New York Attorney General Eric T. Schneiderman and Department of Financial Services Superintendent Benjamin M. Lawsky announced a settlement with Markel Insurance Co., resolving an investigation into Markel’s practice of overcharging college students on their health plans.
Insurance industry software provider Applied Systems Inc., headquartered in University Park, Ill., has signed a definitive agreement to be acquired by private equity investment firm Hellman & Friedman, which has offices in New York, San Francisco and London.
An Avalere Health analysis finds that as of Nov. 2, only 30% of exchange applicants are eligible for federal subsidies to reduce their monthly insurance premiums and out-of-pocket costs for medical care.
The New York Insurance Association (NYIA) elected its 2014 officers and board of directors at the association’s Annual Meeting in November at the Century House in Latham, N.Y.
Aon Risk Solutions, the global risk management business of Aon plc, announced several promotions within the company’s Northeast region of the United States.
In the past three months, Securian Financial Group launched four indexed universal life insurance products, a new term life product and added three distribution networks in the state of New York.
USI Insurance Services has moved to new headquarters in Valhalla, N.Y. It was previously located in nearby Briarcliff Manor, N.Y.
New York Life, America’s largest mutual life insurer, announced strong third quarter gains in sales of life insurance, annuities and mutual funds, as well as a solid increase in agent new hires in the first nine months of 2013. New York Life agents recorded a 10% increase in sales of recurring premium whole life insurance and an 11% increase in total annuity sales compared with the first nine months of 2012.
A physician from Valley Stream, N.Y., has been acquitted in federal court of all charges in a $275 million scheme to defraud no-fault auto insurers.
The Federal Emergency Management Agency said it cannot extend the 12-month statute of limitations for Superstorm Sandy victims who may want to file lawsuits for denial of federal flood insurance claims.