Cavenagh, a co-founder of ParetoHealth, brings a background in health insurance and risk management to the new ownership structure. ParetoHealth, established to offer innovative employee benefits captives and self-insurance solutions, manages approximately £5.2 billion in assets and focuses on providing cost-containment strategies for mid-sized employers in the United States.
He cautioned that if the bill becomes law, insurers will have to reassess risk pricing in Florida, and reinsurers are likely to follow suit. He added that these changes would ultimately impact policyholders through higher premiums, calling the bill a reversal of recent reforms. Source link
Total global premium income grew by €557 billion to reach €7.0 trillion in 2024. Life insurance accounted for the largest share of this, generating €2,902 billion in premiums. Property and casualty (P&C) insurance followed at €2,424 billion, while health insurance contributed €1,682 billion. Source link
Jim Carson, legislative director for the department, said a separate proposal backed by Governor Phil Scott offers a more consistent approach. Under that bill, the department would maintain its existing review process but include an additional step allowing the commissioner to assess whether a rate is affordable. If a proposed rate exceeded the benchmark and…
New York Marine had asked the Supreme Court, New York County, to compel Millennia to deposit the collateral amount. The motion was initially denied without prejudice, but the Appellate Division, First Department, reversed that ruling. The appellate court found that New York Marine met the legal standard for a preliminary injunction, showing both a likelihood…
The rate adjustments will affect approximately 148,000 policyholders. The first increase will take effect on Sept. 1, with the second set to begin on Aug. 31, 2026. Under the terms of the agreement, insurers cannot request another rate increase until Sept. 1, 2027, the insurance department said. Source link
