Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
Legacy Marketing Group Inc. launched FutureMark, a fixed indexed annuity with a 5-year BuilderBlend interest crediting option and a no-cost BeneBooster guaranteed minimum death benefit rider.
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Humana Inc. selected U.K.-based marketing firm MullenLowe Group as its creative agency partner.
The company's strategic, behavioral science and creative teams will be working with Humana starting in September.
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Knights of Columbus unveiled life insurance products Limited Pay Whole Life and Single Premium Whole Life insurance, which offer a guaranteed death benefit and cash values.
The two products are part of The Knights Advantage Series in the U.S. and Canada.
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Life Insurance Corp. of India unveiled a non-linked, without profit and pure protection tech term life insurance plan for working individuals, Firstpost reported.
The plan, launched Sept. 1, covers death due to various reason including accidental deaths except suicide during the first year. The minimum policy term is 10 years while the maximum is 40 years.
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Northwestern Mutual Life Insurance Co. unveiled Life Plus Series, a customizable life insurance offering.
The first product release is Whole Life Plus, which uses a building block approach to create a tailored solution for clients. Customization can include, among others, blended terms offering immediate coverage and accelerated care benefit covering potential long-term care costs.
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Voya Financial Inc. launched MyCompass Index, a target date fund solution for retirement plan customers. Key features include multiple participant glide paths, fund name transparency and fiduciary protection.
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Legal & General Group PLC partnered with Massachusetts-based online insurance concierge platform Everyday Life Inc., making its term life insurance products and term riders available directly through the platform.
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Humana partnered with Iora Health Inc. to provide its Medicare Advantage members in Arizona, Georgia and Texas access to additional 11 primary care practices of Iora Health.
Certain members of Humana's Medicare Advantage health maintenance organization, preferred provider organization, dual eligible special needs and original Medicare plans are eligible for the additional benefit.
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Under an expanded partnership with Canopy Health, Health Net of California Inc. is offering its SmartCare health maintenance organization products to CalPERS-eligible members in San Mateo, Santa Clara and Santa Cruz in California.
Starting January 1, 2020, members who choose the plan will have access to about 5,000 primary care physicians and specialty providers in the Bay Area through Canopy Health.
Health Net of California is a wholly owned subsidiary of Centene Corp.
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The Standard partnered with San Francisco-based Enrollease Inc. to offer its dental, vision, disability, life, accidental death and dismemberment and supplemental plans through Enrollease's EaseConnect+ platform.
The platform will also allow employers to manage the plans and will allow brokers to submit enrollment data directly to The Standard.
The Standard is the marketing name for StanCorp Financial Group Inc. and its subsidiaries, Standard Insurance Co., Standard Life Insurance Co. of New York, Standard Retirement Services Inc., StanCorp Mortgage Investors LLC, StanCorp Investment Advisers Inc., StanCorp Real Estate LLC and StanCorp Equities Inc.
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Cigna Corp.'s health services business unveiled Embarc Benefit Protection, an offering that combines health services, medical management and specialty pharmacy expertise of Express Scripts, eviCore, Accredo and CuraScript SD.
The offering will include Luxturna, a Food and Drug Administration-approved prescription gene therapy for people with inherited retinal disease, and Zolgensma, a gene therapy for children under 2 years old with spinal muscular atrophy.
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Superior HealthPlan Inc. made telehealth services available to its health plan members in Texas.
Members will have 24-hour access to in-network healthcare providers for nonemergency medical issues and can get medical advice, a diagnosis or a prescription by video or phone.
Superior HealthPlan is a wholly owned subsidiary of Centene Corp.
Property and casualty
Mercury Insurance Co. unveiled a home cyber protection coverage for homeowners and renters in California.
The coverage includes payment and security solutions for computer and home system attacks, cyber extortion, online fraud and breach of personal information involving smartphones, computers and connected home devices.
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Apollo Insurance Solutions Ltd. partnered with Trisura Guarantee Insurance Co. to launch a professional liability package for private investigators through its online insurance marketplace Apollo Exchange, Canadian Underwriter reported.
The multiline package includes professional liability, general liability, contents and assets and legal phone line coverage.
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ARAG SE partnered with Morrison Insurance Solutions to develop a legal cover for special guardians that are members of the not-for-profit organization FosterTalk, Insurance Business U.K. reported.
The policy offers legal advice and protection to special guardians and will be distributed as a benefit for FosterTalk members across the U.K.
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QBE North America unveiled QBE Business Resource Edge, a complimentary service that directs employers to an independent firm with attorneys who specialize in providing pre-claim advice.
QBE North America is part of QBE Insurance Group Ltd.
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Capsicum Reinsurance Brokers LLP partnered with Swiss Re AG to launch Decrypt, a cyber reinsurance solution for insurers.
Decrypt offers a lead line from Swiss Re of up to US$50 million per client.
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Insurance Australia Group Ltd. licensed the New Zealand earthquake model from AIR Worldwide Corp.
The model was developed to manage the earthquake risk of the insurance industry. It also captures effects from subperils such as ground shaking, liquefaction, landslide, transocean basin tsunami and fire following earthquakes.
AIR Worldwide is a business of Verisk Analytics Inc.
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Aviva Canada Inc. will offer insurance solutions and service to large corporate and commercial Canadian companies in Canada and the U.S. through its global corporate and specialty team.
The team unites the company's key business operations: corporate risk, programs, specialty risk, surety and equipment breakdown.
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Employers Holdings Inc. started offering its workers' compensation insurance policies in Hawaii.
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Chubb Ltd.'s Chubb Workplace Benefits unveiled its group critical illness and accident products.
The products include benefits for diabetes, cancer, post-traumatic stress disorder and telemedicine services. The occupational benefit with critical illness plan was also expanded to include hepatitis, MRSA infection, rabies, tetanus and tuberculosis.
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Blue Marble Microinsurance expanded the coverage of its CaféSeguro weather index insurance program for smallholder coffee farmers in Colombia.
Through a partnership with Nespresso, Caféxport and Colombia-based reinsurer Seguros Bolívar SA, Blue Marble provides tailor-made insurance for severe rainfall and drought during the coffee crop's developmental stages.
Blue Marble Microinsurance is owned by American International Group Inc., Aspen Insurance Holdings Ltd., ASSA Compañía de Seguros SA, Guy Carpenter & Co. LLC, Marsh & McLennan Cos. Inc., Hamilton Insurance Group, Old Mutual Emerging Markets Ltd., Transatlantic Holdings Inc. and Zurich Insurance Co. Ltd.Old Mutual Ltd.
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Zurich General Insurance Malaysia Bhd. partnered with Kuala Lumpur-based real estate service provider Home Page Capital Holding Sdn. Bhd. to launch Tenant Runaway Policy, a product that covers up to two months of rent, outstanding utilities and minor property damage repair work, Insurance Business Asia reported.
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Mitsui Sumitomo Insurance Co. Ltd. and Aioi Nissay Dowa Insurance Co. Ltd. will offer mobile payment operators insurance policies that will provide coverage for circumstances where they would need to pay damages such as accounts being hacked and used for unauthorized purchases or personal information being compromised, Nikkei Asian Review reported.
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The Arkansas Insurance Department approved a number of insurance companies to do business in the state.
Hartford Insurance Co. of the Southeast, Arch Property Casualty Insurance Co. and Rock Ridge Insurance Co. were approved to offer property, casualty, surety and marine products in the state, including workers' compensation. Arch and Rock Ridge were also approved to offer accident and health products.
Digital Advantage Insurance Co. and Next Insurance US Co. were approved to offer property, casualty, surety and marine authority products in the state, excluding workers' compensation.
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CFC Underwriting Ltd. expanded its product recall suite to include U.S. only regulatory advisory coverage, as well as cover for recall costs resulting from intellectual property infringement, animal by-product contamination and religious product specification guarantee.
The product recall suite also added cover for government plan suspension and product tamper for financial gain.
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Intact Financial Corp. launched an enhanced digital proof of insurance on its Intact Insurance and belairdirect apps, allowing its customers to access their proof of insurance on their smartphones' locked screen.
Customers will be able to protect their privacy through a widget within the app that can be downloaded to allow customers to lock their phones before showing their proof of insurance to law enforcement.
The digital insurance card can be used in Quebec, Alberta, Newfoundland and Labrador, Nova Scotia and Ontario.
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DAS UK Group partnered with Goodlord Protect Ltd. to launch a rent and legal protection policy for Goodlord's customers.
The policy includes coverage for fully paid rent in case of tenants falling into arrears, property damage, eviction of tenants or squatters with legal proceedings, 75% paid rent up for up to two months vacant possession, up to £100,000 in legal expenses and contract dispute protection.
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Vienna Insurance Group AG expanded its operations into Sweden, Norway, Denmark and Finland.
A locally established team of underwriters will offer insurance solutions to corporate customers through brokers. The company intends to establish branch offices in Stockholm, Copenhagen and Oslo.
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ICICI Lombard General Insurance Co. Ltd. entered into a bancassurance tie-up with Standard Chartered Bank to provide its general insurance solutions to the bank's customers, The Times of India reported.
