Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
CUNA Mutual Group launched Zone Income Annuity, a new product with a protected lifetime income feature and a dollar-for-dollar death benefit.
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Allianz Life Insurance Co. of North America unveiled its Allianz Life Pro+ Advantage Fixed Index Universal Life Insurance policy, which features available cash value access through policy loans, withdrawals or full surrenders.
Allianz Life Insurance Co. of North America is a part of Allianz SE.
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Anthem Health Plans of Maine Inc., which does business as Anthem Blue Cross and Blue Shield in Maine, partnered up with MaineHealth to create a joint venture called AMH Health LLC.
The companies intend to offer Medicare Advantage health insurance plans for 2020 through the joint venture under the Anthem | MaineHealth brand.
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New Jersey-based Berkley Accident and Health LLC launched ASO QuickPay, a service that offers rapid stop-loss reimbursement for employers with self-funded health plans by unbundling its stop-loss coverage from its administrative services only, or ASO, provider.
The service is available to all stop-loss policyholders and EmCap group captive program members who use ASO providers at no additional cost.
Berkley Accident and Health LLC is a subsidiary of W. R. Berkley Corp.
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AmeriHealth Caritas New Hampshire Inc. signed an agreement with Manchester, N.H.-based SolutionHealth that will allow its members to receive care from SolutionHealth's hospitals, physicians and other affiliated providers.
SolutionHealth is comprised of Elliot Health System, Inc. and Southern New Hampshire Health System Inc.
AmeriHealth Caritas New Hampshire Inc. is part of the AmeriHealth Caritas Family of Cos.
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Iowa-based North American Co. for Life & Health Insurance unveiled its enhanced Custom Guarantee Universal Life product with features that include premium recovery endorsement, accelerated death benefit endorsements, guaranteed exchange privilege and additional compliance with Principal Based Reserves and 2017 CSO Mortality Tables.
North American Co. for Life & Health Insurance is a member of Sammons Financial Group Inc.
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Midland National Life Insurance Co. launched its enhanced Essential Guaranteed Universal Life insurance product which features a premium recovery endorsement, accelerated death benefit endorsements, guaranteed exchange privilege and additional compliance with principal-based reserving and 2017 CSO Mortality Tables.
Midland National Life Insurance Co. is a member of Sammons Financial Group Inc.
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London-based Legal & General Group PLC will offer a product similar to pension superfunds, a new pension investment model set to come to the British market in 2020 that consolidates assets from various pension schemes, Reuters reported.
Legal & General said its new product will be suitable for pension schemes with medium-level funding. Unlike pension superfunds they would not be totally split from employer-sponsored pension schemes.
Property and casualty
GuideOne Mutual Insurance Co. partnered up with Kansas City, Mo.-based organization Strategos International to offer customers a variety of web-based or onsite armed intruder training courses covering security principles, intruder awareness and response and other security-related topics for churches, schools and businesses.
Strategos International offers armed intruder training and consulting to churches, schools, nonprofits, senior living communities and small businesses.
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Melbourne-based Solution Underwriting Agency Pty Ltd. unveiled a new cyber liability product for the small and medium-sized enterprises market, Insurance Business Australia reported.
The product includes coverage for cybercrime, telecommunications fraud, business interruption, voluntary shutdown, payment credit card data security standard, social engineering fraud, betterment costs and reward expenses. An emergency incident response hotline will also be available through an app, mobile phone or email.
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Chubb Ltd. launched CoverPlus, a new platform that offers expanded liability insurance solutions for middle-market manufacturers.
The offering features a custom-tailored suite of insurance products including scalable pollution liability, product withdrawal expense, errors and omissions liability and cyber liability.
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Bulgaria-based Lev Ins AD Insurance Co. is developing a cyber insurance offering for businesses which will include three levels of insurance coverage and a dedicated IT support team, the Sofia News Agency reported.
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Randall & Quilter Investment Holdings Ltd.'s Florida-based subsidiary, Accredited Surety & Casualty Co. Inc., will serve as issuing carrier for a specialty commercial transportation offering through its program underwriting partnership with Connecticut-based managing general agent Paragon Insurance Holdings LLC.
Malta-based subsidiary Accredited Insurance (Europe) Ltd. is working with U.K.-based Sophro MGA Ltd. for a program underwriting partnership. The company also extended its existing partnership with U.K.-based MGA First Underwriting Ltd.
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Singapore-based insurtech company Axinan Pte. Ltd., through subsidiary Axinan Labuan Ltd., secured a combined general insurance and reinsurance license from Malaysia's Labuan Financial Services Authority.
The license will allow the company to underwrite new product lines and distribute insurance through fronting arrangements with local insurers.
Axinan Pte. Ltd. develops insurance solutions for enterprises using big data, actual risk management and machine-learning processes.
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Karnataka, India-based Go Digit General Insurance Ltd. entered into a bancassurance partnership with Karur Vysya Bank Ltd., The Times of India reported.
The partnership will allow the bank to offer the company's insurance solutions for small and medium-sized enterprises, including coverage for business interruption and loss with a fixed benefit.
