Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
UnitedHealth Group Inc. will expand its fitness program for people enrolled in its Medicare Advantage plans to 12 additional states in 2019 and is rebranding the program as Renew Active. The states are Minnesota, Connecticut, North Carolina, Indiana, Iowa, Illinois, Kansas, Missouri, Nebraska, Utah, Nevada and California.
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WellCare Health Plans Inc. signed a value-based care agreement with agilon health for its members in Texas. Value-based programs reward healthcare providers with incentive payments based on the quality of care provided, rather than the services delivered.
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The Health Action Council partnered with UnitedHealthcare and Optum to launch an insurance plan that will be available to Health Action Council member companies for Jan. 1, 2019, enrollment. The integrated health advocacy and clinical model creates relationships that focus on preventive care. UnitedHealthcare and Optum are parts of UnitedHealth Group.
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Novus Acquisition & Development Corp., through wholly owned subsidiary WCIG Insurance Services Inc., signed an agreement with Alloy Insurance Services LLC to bundle Novus Cannabis MedPlan. Alloy Insurance Services provides employee benefits and administration services.
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United of Omaha, a Mutual of Omaha company, created Guaranteed Plus Whole Life insurance through a strategic alliance with Everest Funeral Concierge Service. The life insurance policy includes the benefits of a guaranteed whole life policy from United of Omaha, plus funeral planning services from Everest.
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American Equity Investment Life Holding Co. introduced AssetShield, a fixed-index annuity product. AssetShield, with five-, seven-, and 10-year terms available, offers multiple index crediting allocations.
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Anthem Blue Cross and Blue Shield in Missouri will add University of Missouri Health Care to its preferred list of care providers for its Medicare Advantage plans. Accordingly, beginning in January 2019, University of Missouri Health Care's providers will be considered in-network for the health plans. Anthem Blue Cross and Blue Shield is the trade name of Anthem Insurance Cos. Inc.
Property and casualty
Sompo International Holdings Ltd. established a business unit to extend environmental liability insurance capabilities to a broader range of industries in the U.S. market. Through this unit, Sompo International will offer a site environmental impairment liability insurance policy, a contractors pollution liability insurance policy and an environmental excess follow-form product.
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Startup insurance provider Berkley One expanded into the states of New York and Connecticut. Partnering with select independent agents, Berkley One offers home, automobile, fine art and collectibles, excess liability and travel insurance solutions. Berkley One is a member company of W. R. Berkley Corp.
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Alliant Insurance Services Inc.'s Crystal Financial Institutions division rolled out a cyber solution to protect hedge funds from increasing cyber risks and data breaches. Cyber Risk 360° includes a cyber insurance policy that has an available coverage extension for fee income related to unplanned redemptions.