Live Insurance News

Aetna and Anthem show faith in health insurance exchanges

November 27, 2015November 25, 2015 Nordstrom

Insurers see promise in exchange marketplaces throughout the United States Amidst concerns that health insurance exchanges in the United States may be bad marketplaces for insurers, Aetna and Anthem have begun working to reassure investors that this is not the case. Recently, many insurers have been reporting losses due to their participation in insurance exchanges. These losses have lead UnitedHealth, the country’s largest health insurance provider, to exit from all exchanges throughout the country. This has caused a great deal of worry for those receiving coverage through exchanges as well…

Privacy breach may have some impact on the insurance industry in Illinois

November 19, 2015November 18, 2015 Logan B.

State agency announces privacy breach, revealing Social Security Numbers of health care providers The Illinois Department of Insurance has announced that it has mistakenly allowed the Social Security Numbers of health care providers to be publicly posted. The number of health care providers affected by this privacy breach has not yet been disclosed, but the event may have some impact on the insurance industry. State officials recently learned of the privacy breach after receiving complaints. It is unclear how long the Social Security Numbers of health care professionals were visible…

New coalition takes aims at health insurance mergers in the US

November 18, 2015November 17, 2015 S.Vagus

Consumer groups form coalition to target mergers of health insurance providers Two consumer advocacy groups in the United States have formed a new coalition in order to create pressure of antitrust regulators concerning the merger of large insurance providers. These mergers would cut the number of for-profit health insurance companies from five to three, which may have a dramatic impact on consumers in terms of insurance options and costs. The coalition may be able to shed more light on the potential impact that mergers will have, encouraging state regulators to…

Hacks are causing cyber insurance rates to skyrocket

October 21, 2015October 20, 2015 S.Vagus

Insurers are raising premiums for the cyber insurance coverage that they provide Over the past two years, companies in the United States have been targeted by aggressive cyber attacks. This has prompted insurers to increase premiums on cyber insurance coverage by a massive margin. Some companies are perceived as being a high risk, which means that they are seeing higher costs when it comes to protecting themselves from digital attacks. Insurers are not just raising premiums on cyber insurance coverage, however, and many companies are looking for a solution to…

Anthem insurance company to purchase Cigna for $54 billion

July 27, 2015July 24, 2015 G. Turner

Cigna's Headquarters in Philadelphia insurance company

Massive acquisition to take place as one insurer purchases the other for cash and stock. It was recently announced that Anthem will be buying the Cigna insurance company for a tremendous buyout of $54 billion in cash and stock, making this the latest huge purchase by the insurer. The buyout is for 55 percent cash in addition to the remaining 45 percent in stock. Anthem has agreed to purchase each Cigna share for $188. The combined insurance company will be serving an estimated 53 million plan members. This new acquisition…