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Insperity extends UnitedHealthcare contract; Securian launches retirement plan

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Insperity extends UnitedHealthcare contract; Securian launches retirement plan

Several insurance companies disclosed new products and coverage enhancements in recent days.

Life and health

Insperity Inc. extended its contract with UnitedHealthcare, a UnitedHealth Group Inc. company, through 2022. UnitedHealthcare provides medical and dental coverage to Insperity's employees and their families. The extension includes administrative cost savings starting 2019.

Securian Financial Group Inc. introduced ReadyPlan, a retirement plan program that small employers can provide to their workers. The program includes a fiduciary service that transfers certain administrative tasks to Securian and an investment fiduciary service offered by third-party investment experts who manage the plan's investments.

Property and casualty

Validus Specialty Underwriting Services Inc., part of Validus Holdings Ltd., teamed up with Business Risk Partners. Under the collaboration, Business Risk Partners will offer an expanded admitted management liability package policy form for U.S. agents and brokers, covering directors and officers, employment practices liability insurance, fiduciary, crime and cyber. The coverage offers $5 million in limits and is available combined and standalone. The form also includes the option to select indemnity or duty to defend, an AlphaPack commercial coverage modular package form and additional defense limit of $1 million included for all policyholders. Coverage extensions are available for wage and hour, immigration defense, privacy violations, workplace violence, training expenses, crisis management expenses as well as employed lawyers, among others.