Healthcare advocates and lawmakers in California areweighing some legislative measures to offer a public insurance option tocompete with private companies in the state's healthcare marketplace and offer morecoverage choices in those areas where current options are few or plans areexpensive, The Sacramento Bee reported.The proposals could be unveiled today, according to the report.
A healthcare market stabilization proposal being by Republican Sens.Lamar Alexander of Tennessee and Susan Collins of Maine would cut individualplan premiums by an average of 10% in 2019, and 20% in 2020 and 2021, accordingto early estimates from congressional analysts. The projections in the summarydocument being circulated on Capitol Hill, which was obtained by S&P GlobalMarket Intelligence, were based on preliminary estimates from the CongressionalBudget Office, or CBO, a nonpartisan entity that provides financial analyses toCongress.
Allison O'Toole will step down as CEO of Minnesota's healthexchange, MNsure, effective April 13, the StarTribune reported.Nathan Clark, currently the COO of the exchange, has been named interim CEO ofMNsure. O'Toole is reportedly joining anew health policy group called United States of Care.
U.S. regulators plan to sanction for receivingcommissions on auto insurance policies that the bank helped force on more thanhalf a million drivers, Reuters reported,citing “people with direct knowledge ofthe probes.” The bank had earlier accused a third-party vendor for improper layeringof insurance policies on its auto borrowers without admitting that it receivedcommissions when such policies were written. The Office of the Comptroller ofthe Currency has reportedly asked Wells Fargo about the executives who knew ofthese payments and if they should have been stopped earlier.
BerkshireHathaway Inc., EnstarGroup Ltd., CatalinaHoldings (Bermuda) Ltd. and Armour are among the likely bidders forZurich Insurance GroupAG's North American asbestos book with around $500 million ofreserves, The Insurance Insiderreported, citing"one source."
Kingstone Cos.Inc. reported net operating income of $1.9 million, or 18cents per share, in the fourth quarter of 2017, down from $2.1 million, or 26cents per share, in the prior-year period.
The Texas Windstorm Insurance Association plans to return tothe catastrophe bond and reinsurance market to secure a new reinsurance programfor 2018, Artemis reported,citing TWIA CFO Jerry Fadden.
Financial news inother parts of the world
Asia Pacific: HK probes 'reckless' IPO sponsors; ICICI Bank sets price range forunit's float
Europe: BNPParibas in final talks to buy RBI unit; Munich Re launches €1B buyback
Middle East & Africa: StanChart to launch 1st online bank in Ivory Coast; Moody'sdowngrades Tunisia
The day ahead
Early morning futures indicators pointed to a mixed openingfor the U.S. market.
In Asia, the Hang Seng rose 0.34% to 31,541.10 and theNikkei 225 rose 0.12% to 21,803.95.
In Europe, around midday, the FTSE 100 rose 0.15% to7,143.20 and the Euronext 100 rose 0.15% to 1,022.31.
On the macro front
The jobless claims report, the Empire State Mfg Survey, thehousing market index, the EIA natural gas report, the fed balance sheet and themoney supply report are due out today.
