Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
Hospital system TriHealth and Anthem Blue Cross and Blue Shield in Ohio partnered to offer a health plan for employers, the Cincinnati Business Courier reported.
TriHealth employees and their families will be enrolled in the Blue Connection health plan, which takes effect Jan. 1, 2020. Other employers in Southwest Ohio may be able to participate in Blue Connection for the 2021 plan year.
True Health New Mexico Inc. will offer individual and family health insurance plans on and off the New Mexico Health Insurance Exchange.
The plans can be bought during the annual open enrollment period from Nov. 1 to Dec. 15 for an effective date starting Jan. 1, 2020.
Pacific Life made Pacific Odyssey, its fee-based, advisory variable annuity, available to independent registered investment advisers through Schwab Advisor Services.
Pacific Life refers to Pacific Life Insurance Co. and its affiliates, including Pacific Life & Annuity Co.
Sagicor Life Insurance Co. unveiled Peace Assured, a whole life product that offers permanent life insurance protection without medical exams and a guaranteed premium locked in for the life of the insured.
Integrity Life Australia Ltd, launched Five+, a combined group insurance offering for small-to-medium sized businesses, Insurance Business Australia reported.
The product offers a combined income and life insurance to SME businesses that have five to 50 employees.
Lincoln National Corp. rolled out commission-free, single premium immediate annuity Lincoln Insured Income Advisory and commission-free deferred income annuity Lincoln Deferred Income Solutions Advisory for registered investment advisers.
BMO Insurance unveiled the North American Equity Enhanced Market Indexed Account, an investment option available on its universal life insurance products.
The investment option uses a combination of long-term bonds and enhanced equity investments. BMO Insurance, in partnership with BMO Capital Markets, manages the investment strategy backing the investment option.
FTLife Insurance Co. Ltd. launched Prosperous Deferred Annuity Plan, a qualifying deferred annuity policy certified by Hong Kong's Insurance Authority.
The product has a number of options in premium payment period, accumulation period and annuity period. It also offers death benefit, travel medical and accidental benefit, as well as terminal illness benefit.
Cigna Corp. will launch Medicare Advantage plan True Choice PPO in the Nashville, Tenn., metropolitan area.
The Medicare Advantage preferred provider organization offering will be available for Medicare's annual election period. All plans will be effective Jan. 1, 2020. True Choice PPO plan's benefits include $5 primary doctor copay, $0 drug deductible, dental allowance, vision and hearing services and an acupuncture allowance.
Property and casualty
Marsh & McLennan Cos. Inc. subsidiary Marsh LLC and Zurich North America collaborated to launch TrustedPals, a pet insurance program for cats and dogs in the U.S.
The program offers pet insurance with flexible co-payments, limits and deductibles. It is backed by Marsh's Bluestream platform and underwritten by Zurich North America.
Hong Kong's Insurance Authority issued its first virtual general license to Avo Insurance, allowing the digital company to sell its products online without using agents or brokers, South China Morning Post reported.
Asia Financial Holdings Ltd.'s Asia Insurance Co. Ltd. holds a 51% stake in Avo Insurance, while Hillhouse Capital Management Ltd. CEO Zhang Lei owns the rest.
Victor O. Schinnerer & Co. Inc. expanded its professional liability insurance program for architects and engineers, adding $15 million in capacity from Aspen Insurance Holdings Ltd. to the existing $20 million program.
The additional capacity allows brokers to procure up to $35 million in coverage on behalf of architects and engineers clients. Aspen will offer admitted and non-admitted capacity.
Pie Insurance Holdings Inc. secured regulatory approval to offer workers' compensation insurance in Rhode Island and Vermont.
Arch Insurance started offering a paid family medical leave product to Massachusetts employers.
The product, underwritten by Arch Insurance Co., is a private plan that allows employers to file for exemptions from state-sponsored plans and remove the need to submit employer and employee contributions to the state fund.
Arch Insurance North America, part of Arch Capital Group Ltd., includes insurance operations in the U.S. and Canada.
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