Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
Molina Healthcare Inc.'s Kentucky-based subsidiary was selected to offer healthcare coverage to Medicaid beneficiaries through the Temporary Assistance for Needy Families, the Children's Health Insurance Program and the Aged, Blind and Disabled programs.
The contract is expected to begin July 1, 2020.
WellCare Health Plans Inc.'s WellCare of Kentucky was selected to provide managed care services for eligible Medicaid recipients in the Temporary Assistance for Needy Families, the State Children's Health Insurance Program and the Aged, Blind and Disabled programs.
The five-year contract is expected to begin July 1, 2020.
MCIS Multichoice Insurance Services LLC partnered with Seven Corners Inc. to launch MCIS Flexible Travel Insurance, an international travel insurance plan for U.S. citizens and non-U.S. citizens traveling outside their home country.
Coverage is available for policyholders and their dependents and includes customizable medical benefits, optional emergency services and benefit enhancements.
Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd. signed a memorandum of agreement for bancassurance with Karnataka Vikas Grameena Bank, The Hindu reported.
Under the agreement, the bank will market Canara HSBC's life insurance products through its 636 branches.
LifeSecure Insurance Co. unveiled its long-term care insurance in the worksite market in Maine, which include benefits like traditional long-term care services, informal caregivers and home modifications.
LifeSecure Insurance also intends to expand its accident, critical illness and hospital recovery insurance coverage into Maine.
Foresters Financial unveiled new underwriting guidelines for its nonmedical life insurance product portfolio to make it easier for Americans who use cannabis to access its products.
Aside from a full suite of products, members are eligible for benefits such as scholarships, community building grants, financial counseling and access to complimentary or discounted legal advice.
Foresters Financial is a trade name of the Independent Order of Foresters and its subsidiaries.
The United Insurance Co. of Pakistan Ltd. signed an agreement with Gerry's Visa to provide health coverage to Pakistanis traveling abroad, the Pakistan Observer reported.
International travelers could receive compensation of up to $100,000 in the case of death, disability or hospitalization, according to the report. Policies would also cover emergency evacuation, emergency dental coverage, lost passport, missing baggage and delayed flights.
Property and casualty
Berkshire Hathaway Specialty Insurance Co. unveiled commercial crime insurance in Asia, an insurance policy that protects commercial organizations from traditional employee crime and external crimes.
Coverage includes funds transfer fraud, credit card fraud, forgery and impersonation.
Preferred Property Programs partnered with Axa XL to unveil a directors and officers insurance policy for community associations, with aggregate limits starting at $1 million on a primary or excess basis.
The policy is available as a standalone or as a companion to Preferred Property Programs' umbrella/excess tower insurance. It includes defense costs coverage, a broad "wrongful act" definition, coverage for the entity organization and community association manager and options for employment practices liability, including wage and hour law.
Preferred Property Programs is a division of Jacobson Goldfarb & Scott Inc. Axa XL is a division of AXA SA.
Trov Inc. partnered with U.K.-based Halifax Home Insurance to launch its end-to-end digital renters' insurance application, which enables policyholders to activate the base home coverage as a monthly subscription.
Renters will also be able to access on-demand coverage for personal items.
Halifax Home Insurance is part of Lloyds Banking Group PLC.
Lloyd's of London unveiled Llift Space, its space insurance policy for the private spaceflight industry and the NewSpace sector.
The product provides coverage from the prelaunch phase, including transit and placement on the launch vehicle, to the launch phase and in-orbit operation. Llift Space is designed for satellites weighing less than 300 kg.
Berkley One launched its full suite of products in Vermont, including home, auto, collections, liability and travel insurance.
The company also launched its excess flood product in New Jersey and expanded its Auto Suite coverage into Massachusetts, which includes a roadside assistance endorsement.
Berkley One is a member company of W. R. Berkley Corp.
AssureLease LLC formed Landlords Alternative To Security, a reciprocal insurance company that enables midsize real estate owners to access a tailored insurance solution that replaces traditional security deposits.
The program is available in all 50 states and Canada.
BMS Group Ltd. launched a private equity, mergers and acquisitions and tax insurance division to provide tailored products for corporate mergers and acquisitions transactions.
The division will be led by Managing Director Tan Pawar and will begin operations in 2020.
Generali subsidiary La Caja entered into a distribution agreement for its motor and home policies with Argentina-based MercadoLibre Inc., which will distribute the policies through its digital platform.
The partnership is in line with Generali's 2021 three-year strategic plan to develop business-to-business-to-consumer, or B2B2C, distribution models.
Beazley PLC launched Beazley BioSecure, a life sciences insurance policy for smaller, U.S.-domiciled private enterprises in the pharmaceutical, biotech and medical device sectors.
The policy provides coverage for products and completed operations, negligent act, error or omission in clinical research and healthcare professional services, clinical trial medical expenses and monitoring expenses and general liability.
Guy Carpenter & Co. LLC partnered with the U.S. business of Victor Insurance Holdings to expand Guy Carpenter's offering for its U.S. public entity clients.
The expanded offering includes coverage for cyber liability, flood and special events. The enhanced public entity facility will begin placing business Jan. 1, 2020.
Victor Insurance Holdings was formerly known as the Schinnerer Group Inc.
John Hancock Insurance Agency Inc. is distributing travel insurance through comparison site TravelInsurance.com.
Coverage will be available in bronze, silver and gold tiers based on the customers' needs and budget. The policy covers trip cancellation, trip interruption, medical, accident and baggage protection.
John Hancock Insurance Agency is a subsidiary of Manulife Financial Corp.
Allianz General Insurance Co. (Malaysia) Bhd. and agency partner Anora Agency Sdn Bhd. signed a memorandum of understanding with Pekat Solar Sdn Bhd.
Under the agreement, Allianz will be the principal insurer and Anora will exclusively distribute SolarPro All-Risks Insurance, which will provide coverage for Pekat Solar's business, assets and projects.
Allianz General Insurance is a subsidiary of Allianz Malaysia Bhd.
Zurich Insurance Group AG signed an exclusive partnership agreement with the Insurance Corp. of Afghanistan that will allow Zurich to insure risks in Afghanistan, the Khaama Press reported.
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