NAIC to address US insurance industry racism and discrimination

Insurance industry racism - racial equality - typewriter

A special committee has been formed in order to specifically focus on Race and Insurance. The National Association of Insurance Commissioners (NAIC) has announced that it has created a special committee to address insurance industry racism and discrimination. NAIC is seeking to improve the way its systems and coverage reflect and protect society. “Our regulatory system and insurance in general is a reflection of the society it aims to protect, and while state insurance regulators have worked to eliminate overt discrimination and racism, we all have been increasingly aware that…

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New FTJ/FLS Vice President To Lead Technology Efforts

insurance industry news

KANSAS CITY, Missouri (August 3, 2020) – Forrest T. Jones & Company, Inc. (FTJ) and Fidelity Security Life Insurance Company (FSL) have appointed Chayan Dasgupta as vice president overseeing information technology (IT). Dasgupta, who goes by “CD,” will provide strategic leadership as a member of the FTJ/FSL executive team and manage a department of nearly 50 IT professionals. He will report to Brad Jones, FTJ/FSL Vice President. Dasgupta joins FTJ/FSL after more than 12 years at Overland Solutions, a leading provider of underwriting support services in the property and casualty…

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Massachusetts insurance enrollment remains strong as unemployment spikes

Massachusetts insurance enrollment - American Flag, money and stethoscope

The state has the country’s worst unemployment rate, but residents are keeping up their coverage. Massachusetts insurance enrollment has remained strong despite the state’s unemployment rate, which is currently the worst in the United States. New data has revealed that despite losing their jobs, consumers have kept their health plans. The Center for Health Information and Analysis (CHIA) revealed new data last week which showed that overall Massachusetts insurance enrollment stayed essentially stable through May. At that time, there were more than 6.4 million residents of the state covered by…

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5 Ways Coronavirus Will Drastically Alter Boomer Retirements

baby boomer retirements

The boomer generation is defined as people born between 1946 and 1964, effectively products of the post-World War II economic boom. These are people that will be hoping to either be retired or to retire within the next ten years. They lived through economic ups and downs and are generally seen as one of the wealthiest generations to date.  Thanks to advances in medical care some of these boomers are still earning today, despite being past retirement age. However, all of them will need to speak to a reputable financial…

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Kentucky health insurance marketplace prepares to restart

Kentucky health insurance marketplace - file - stethoscope

The state intends to restart Kynect, its own exchange allowing residents to enroll in plans. Governor Andy Beshear has announced the state’s intention to reopen Kynect, the Kentucky health insurance marketplace. The exchange makes it possible for residents who don’t have coverage through an employer to enroll in a plan or sign up for Medicaid if they are eligible. The exchange was originally dismantled in 2017 by former Governor Matt Bevin. Kentucky Voices for Health director of policy advocacy Cara Stewart explained that state residents who want to purchase coverage…

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New York Uber and Lyft drivers win battle for unemployment insurance benefits

Unemployment insurance benefits - Uber and Lyft drivers

The ride hailing drivers sued the state in May and a federal judge has now ruled in their favor. Lyft and Uber drivers recently won the right to receive unemployment insurance benefits immediately. The ruling was made by a federal judge who determined that the New York Department of Labor had taken too long to issue payments. The ruling was made by U.S. District Judge LaShann DeArcy Hall in Brooklyn this week. The judge cited a backlog of claims was occurring from ride-hail drivers who sued New York state in…

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Cheers tavern owner files business interruption insurance lawsuit over claim denial

Business interruption insurance lawsuit - Cheers Tavern in Boston

Hampshire House attorneys say its insurer has refused to pay claims relating to COVID-19. Owner of several restaurants in Boston including the famous Cheers tavern, Hampshire House, has filed a business interruption insurance lawsuit. The suit was filed when the company’s insurer denied the claims it filed in response to pandemic crisis shutdowns. The company is facing the loss of millions of dollars due to the pandemic lockdowns, said attorneys. The business interruption insurance lawsuit was filed against Fireman’s Fund Insurance and Associated Indemnity Corporation and Allianz Global Risks United…

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