Millennium Physicians Association PLLC has paid the United States $1,248,964 to resolve claims that they improperly billed the Medicare program for sleep studies, the U.S. Attorney’s Office for the Southern District of Texas reported. “Providers must adhere to the Medicare …
AM Best has downgraded the Financial Strength Rating (FSR) to B- (Fair) from B (Fair) and the Long-Term ICR to “bb-” from “bb” of Echelon Property & Casualty Insurance Co., based in Chicago. AM Best also downgraded the Long-Term Issuer …
Madison, Wisconsin-based Rural Mutual Insurance Co. is now offering water damage protection, through its limited water endorsement. The company said this new endorsement will be added to new and renewal homeowner policies, if they qualify. According to Rural Mutual, its …
State Farm is getting out of the banking business. The property/casualty insurer said it has formed a strategic alliance with U.S. Bank, allowing it to assume State Farm Bank’s existing deposit and credit card accounts. As part of the deal, …
BrokerTech Ventures (BTV), the Des Moines, Iowa-based broker-led investor group and accelerator program, has added five new investor partners/sponsors, including Heffernan Insurance Brokers Inc., The Horton Group, Inc., IMA Financial Group, MJ Insurance and Woodruff Sawyer. BTV also has appointed …
Net underwriting income for the U.S. property/casualty insurance industry in 2019 grew by $4.9 million from 2018, A.M. Best said in a new report. Underwriting income hit $4.1 billion in 2019, from a loss of $800 million in 2018, even …
Embroker, Inc., a digital insurance broker, has partnered with CNA to provide a customized business owners policy (BOP) coverage to its business clients. Embroker is a technology platform that digitizes all aspects of the insurance process and provides customers with …
A month-long attack on the computer networks at Kentucky’s largest university system prompted officials to conduct a major reboot of the networks Sunday, officials said. Officials believe the prolonged cyberattack was resolved by a campus-wide network outage at the University …
There are several talking points that were evident about the planned merger of broking giants Aon and Willis Towers Watson. First, it’s not about getting bigger; it’s about getting better. And, second, it’s about addressing unmet client needs. But it …
California Gov. Gavin Newsom has named Katrina S. Hagen director of the California Department of Industrial Relations. She fills the position vacated by former director Christine Baker, who retired in 2018. Hagen, 47, of Sacramento, has served as chief deputy …