Insurance
Top stories summarized by our editors
12/7/2017

UnitedHealth Group plans to grow its Optum business with an agreement to buy about 300 primary and specialty clinics as well as some urgent-care clinics and outpatient surgery centers from DaVita Medical Group. The announcement of the nearly $5 billion acquisition comes just days after CVS Health announced plans to buy Aetna in a nearly $69 billion deal.

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The Associated Press
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UnitedHealth Group, Aetna, CVS Health
12/7/2017

People with complex medical conditions can have a difficult time finding Affordable Care Act insurance plans to cover all of their needs. Experts say the problem is likely to worsen as more insurers exit ACA marketplaces and the Trump administration eliminates elements of the law as it seeks a repeal.

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Reuters
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ACA, ACA, Trump
12/7/2017

Lawmakers in the House and Senate say that the Affordable Care Act's mandate requiring individuals to have health insurance is unlikely to make it through reconciliation as they try to hash out the differences between the two chambers' tax reform bills. A deal championed by Sen. Susan Collins, R-Maine, designed to mitigate loss of the mandate through subsidies is also unlikely to gain approval in the House.

12/6/2017

Almost 200,000 Ventura County, Calif., residents have fled their homes as crews battling wildfires were hindered by winds gusting at more than 50 mph on Tuesday. An incident commander said the Ventura County fire has burned at least 150 structures, although the actual total of homes destroyed is likely in the hundreds.

12/6/2017

The Commission on Enhancing National Cybersecurity released a report last year that put denial-of-service attacks and botnet activity at the top of its priority list, and President Donald Trump showed his focus on the issue in an executive order signed in May. The Commerce and Homeland Security departments are expected to deliver their recommendations on tightening up botnet safety next month.

12/6/2017

Three defective-product recalls in the past few years have had an estimated cost of $34 billion, while insured losses from such recalls have reached $2 billion for the past five years, according to a study by Allianz Global Corporate & Specialty. More recalls in the auto industry are involving a greater number of units, with the sector's claims totaling 70% of the cost of recalls in recent years.

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PropertyCasualty360
12/6/2017

Commercial property insurance rates at renewal in November were up 2.8% on average, while commercial auto renewal premiums rose 3.2%, insurance exchange IVANS said. The only commercial line with lower renewal rates last month was workers' compensation, which experienced a 1.8% decrease.

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insurance rates, IVANS
12/6/2017

Commissioners of Harris County, Texas, on Tuesday voted unanimously in favor of stricter rules on building in flood plains. The new rules, prompted by Hurricane Harvey's damage to the area, call for homes to be elevated higher and for new construction to be capable of withstanding powerful winds.

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Hurricane Harvey
12/6/2017

Developers and landlords seeking to rebuild and develop properties after Hurricane Maria struck the Caribbean face delays because of labor shortages, infrastructure problems and economic challenges. Some say they are uncertain of whether insurance will cover business-interruption claims stemming from their current circumstances.

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Hurricane Maria, Hurricane
12/6/2017

The Federal Emergency Management Agency could collect the full $1.024 billion value from the 25 reinsurers backing the National Flood Insurance Program this year. "The private reinsurance markets will help Hurricane Harvey survivors by sharing a portion of the costs of flood insurance claims," FEMA's Roy Wright said.

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Artemis