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Conifer swings to profit in 2024
[ad_1] CEO Brian Roney described 2024 as a pivotal year for Conifer, highlighting efforts to reduce debt, strengthen reserves, streamline operations and shift its focus to select personal lines. The company saw a sharp decline in commercial lines business, with total gross written premium falling nearly 50% for the year and net earned premium down…
New Jersey proposes tighter rules on life insurance reserves to match national standards
[ad_1] The proposal, introduced by the Department of Banking and Insurance, calls for the adoption of the NAIC Term and Universal Life Insurance Reserve Financing Model Regulation #787, known within the industry as the XXX/AXXX Model Regulation. The move would bring uniformity and greater transparency to reserve financing, an area that has historically presented regulatory challenges. [ad_2]…
Colorado launches insurer of last resort — report
[ad_1] Eligibility for a policy requires applicants to have been declined by three admitted insurers. Coverage includes essential perils such as fire and lightning, with limits of up to $750,000 for residential properties and $5 million for commercial buildings. Some additional coverages, including wind and hail, may be purchased. All policies are issued on an…
Consumer group sues CDI over withheld consumer complaint data
[ad_1] Despite these criticisms, the CDI points to its Consumer Complaint Center where consumers can file complaints and track their status. Additionally, CDI said that the Center for Data Insights and Innovation (CDII) publishes annual reports on health care complaints made by California consumers, including those submitted to the CDI. [ad_2] Source link
Private equity giant Bain Capital in talks for giant Acrisure deal
[ad_1] The prospective capital injection would be structured as preferred equity, sources said, with final terms yet to be agreed. The deal, if concluded, would allow BDT & MSD Partners— which previously led a $3 billion senior preferred stock investment in Acrisure in 2021— to partially redeem its existing position in the company. [ad_2] Source…
Connecticut weighs LTC insurance rate freeze and reforms
[ad_1] The senator argued that a moratorium would bring all stakeholders to the table to develop a model for addressing LTC insurance issues, which extend beyond Connecticut. The industry has faced significant challenges due to underwriting miscalculations in the 1990s and 2000s, rising medical costs, an aging population, and longer lifespans, according to state and…