Four Philadelphia-area men were accused of operating “an elaborate financial fraud scheme,” targeting more than 215 senior citizens in Pennsylvania and stealing more than $700,000.

New York has instituted new regulations requiring all life insurers marketing in the state to regularly search a government database of recent deaths, seeking deceased policyholders so beneficiaries who have not made claims can be paid.

Towers Watson, a professional services company based in New York, is acquiring Extend Health, which operates the largest private Medicare exchange in the U.S., as it seeks to expand its retirement services offerings.

New York insurance regulators fined 15 insurers a total of $2.7 million for failing to notify small businesses of their eligibility to buy special coverage.

A New York investigation into how insurance companies track life insurance policyholders and their beneficiaries resulted in more than 32,000 payments totaling $262.2 million, more than four times its tally in December.

New York State’s 2012-2013 budget restored $30.6 million to the Elderly Pharmaceutical Insurance Coverage (EPIC) program that helps low- and moderate-income seniors pay for medications not covered by Medicare.

A Tampa, Fla.-based managed care services provider will pay $137.5 million to the federal government and nine states to settle four lawsuits accusing the company of violating the federal False Claims Act.

The New York Department of Financial Services is requiring the largest force-placed insurers in the state to give details on their expenses, claims payments and profits to determine the validity of their homeowners insurance rates.

A New York, N.Y.-based international underwriter combined three of its business units into one platform for a “stronger” nationwide professional lines presence.

Owners of a New York sewer plant have sued the insurance company in federal court for more than $3.5 million over its denial of coverage for a wall collapse last year.