Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
Moda Health Plan Inc. will offer health insurance plans for the individual marketplace in Alaska in 2020, The Associated Press reported.
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Aon PLC formed a global accident, health and life practice group in its reinsurance solutions business.
The company appointed Roger Smith chair of the new practice group.
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Humana Inc. signed a contract with Florida-based Baptist Health Care Corp. that will provide Humana's Medicare Advantage members in-network access to Baptist Health Care's hospitals.
The agreement includes Baptist Hospital, Gulf Breeze Hospital, Jay Hospital, Andrews Institute for Orthopaedic & Sports Medicine and all specialty providers from Baptist Medical Group, Baptist Physician Group and Cardiology Consultants.
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Humana also signed an agreement with McLaren Health Care Corp.'s McLaren Physician Partners that allows Humana's Medicare Advantage members in Michigan expanded in-network access to McLaren Health Care's hospitals, outpatient facilities, physicians and clinicians.
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The Centers for Medicare & Medicaid Services launched an improved Medicare plan finder on its website that customers can use to purchase and compare Medicare Advantage and Part D plans.
Customers will also be able to compare coverage options, compare up to three drug plans or Medicare Advantage plans side-by-side, view plan costs and benefits and build a personal drug list.
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Chicago-based insurtech Watchtower Benefits LLC expanded its offerings to include dental, vision and worksite insurance and to allow brokers to run an entire non-medical RFP through its platform.
WatchTower's cloud-based platform serves the mid- to large market of the employee benefits insurance industry. The platform also supports life and disability insurance.
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Chicago-based Health Care Service Corp. will offer ancillary benefits including vision, dental, short-term and long-term disability, life, critical illness and accident products under the Blue Cross and Blue Shield brand, starting Sept. 1.
The products, which were offered under the Dearborn National brand, will be available in Illinois, Montana, New Mexico, Oklahoma and Texas.
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Principal Financial Group Inc. implemented the Accenture Life Insurance & Annuity Platform to provide faster service for its customers and improve its operations.
The platform provides capabilities for product development, new business development, underwriting, policy administration, claims and payout to life insurance carriers and annuity providers.
Accenture PLC's life and annuity software is part of Accenture Life Insurance Services.
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Canton, Ga.-based Peak Prosperity Marketing Group LLC unveiled a new single premium fixed-indexed annuity for insurance and financial professionals, which features seven- and 10-year options, a stackable lifetime income rider and an 83% S&P 500 par rate.
Peak Prosperity Marketing Group LLC is an independent marketing organization in the insurance distribution industry.
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San Francisco-based Decent Inc. launched health insurance plans that allow self-employed people to band together for insurance through a membership with the Texas Freelance Association.
The plans will have no restrictions for pre-existing conditions and will include unlimited access to same-day appointments, telemedicine services and almost any procedure performed by primary care physicians at a zero dollar out-of-pocket payment.
The product is available in Austin, Texas, and will be expanded to other parts of Texas and the U.S. The company has received $8 million of initial funding from Menlo Ventures and Foundation Capital.
Property and casualty
New Hartford, N.Y.-based Utica National Insurance Group partnered with Pittsburgh-based healthcare technology firm imPACT Applications Inc. to offer cognitive baseline and post-injury concussion testing to its public and private school policyholders.
The tests will be available to student-athletes participating in modified, junior varsity and varsity teams for alpine skiing, baseball, cheerleading, field hockey, football, gymnastics, softball, wrestling, basketball, diving, hockey, lacrosse, pole vault, high jump, soccer and volleyball.
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Connecticut-based managing general agency Paragon Insurance Holdings LLC launched a nationwide workers' compensation insurance program.
The program is available for the construction and artisan contractors, landscaping, transportation, janitorial, agriculture, wholesale and dealers, healthcare, waste management, manufacturing and rental equipment dealer industries.
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CNA Financial Corp. unveiled Epack 3, a modular management liability policy with optional coverage for directors and officers liability, employment practices liability, fiduciary liability, crime, kidnap ransom and extortion and non-profit directors and officers liability.
The company intends to expand the product's coverage for launch in 2020.
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Mumbai-based Tata AIG General Insurance Co. Ltd. signed an agreement with Indian Bank that will allow the bank to offer its customers Tata AIG's general insurance policies for protection, wealth creation and savings, The Hindu reported.
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Houston-based Argo Surety expanded its treasury listing capacity to up to $100 million for single bonds. The company also expanded its appetite to support up to $300 million aggregate surety bond programs for eligible customers.
Argo Surety is a member of Argo Group International Holdings Ltd.
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Tampa, Fla.-based American Integrity Insurance Co. of Florida Inc. partnered with Hartford Steam Boiler Inspection & Insurance Co. to launch an app that will allow customers to catalog and manage appliances, equipment and systems in their homes.
The app was developed by San Francisco-based Centriq Technology Inc., which will alert customers of recall announcements from the U.S. Consumer Product Safety Commission. Customers will also be able to access online user manuals, how-to videos, parts and accessories guides and Amazon product links for parts through the app.
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Prime Minister Shinzo Abe said Japan will offer an enhanced trade insurance program that would fully cover loans to African governments, affiliated institutions or private companies using Japanese goods for infrastructure projects in Africa, the Insurance Journal reported.
The trade insurance program is intended to boost Japan's private-sector investment in Africa, according to the report.
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Hiscox Ltd. enhanced its architects and engineers coverage portfolio with the addition of faulty workmanship coverage with a general liability policy for artisan subcontractors and owners protective indemnity, and protective pollution protection for real estate developers and owners.
Expanded coverage also includes contractors pollution liability, broad professional liability triggers and rectification expense for artisan subcontractors and general contractors, and protective indemnity coverage for general contractors.
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AXA Affin General Insurance Bhd. partnered with Hap Seng Trucks Distribution Sdn Bhd. and Hap Seng Credit Sdn Bhd. to expand its payer-to-partner strategy with the introduction of AXA FlexiTruck, a telematics commercial vehicle insurance in Malaysia.
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Paris-based insurtech and Lloyd's coverholder Meteo Protect SAS launched ParametricAPI.com, an application program interface that provides direct access to 300 preconfigured parametric or index insurance products that protect individuals, small and medium-sized entrepreneurs and corporate clients against weather-related risks, including drought, excess of rain, heat and frost, Artemis reported.
