A company has announced the layoff of about 80 employees, including 35 in a Virginia city. The News & Advance reported Monday that Genworth Financial announced the layoffs of 35 people in Lynchburg, Va., and 21 people in Richmond, Va. …
General Electric Co. will take a $6.2 billion charge for the fourth quarter as the manufacturing behemoth grapples with lingering problems in a legacy insurance business. The after-tax charge will be $7.5 billion when adjusted to the rate following the …
The Commonwealth Court in Pennsylvania has approved petitions to liquidate Penn Treaty Network America Insurance Company and American Network Insurance Company, with policyholder claims set to be paid through the state guaranty association system subject to statutory limits and conditions. …
Genworth Financial Inc., the insurer battered by losses on long-term care coverage, has said it could pursue more divestitures to help pay down more than $500 million in debt maturing in 2018 as turmoil in the bond market shuts out …
If you don’t offer your clients long term care insurance (LTCI), you may be missing out. This rapidly-evolving product is more attractive than ever. LTCI is more versatile than you may remember, thanks to recent product development innovations. The need …
NAS Insurance has launched a professional and general liability insurance program for owners of residential care facilities for the elderly (RCFEs). The coverage is designed to help California RCFE owners comply with the July 1, 2015 deadline to maintain liability …
ACE Group has introduced four new medical liability coverage endorsements, designed to provide more comprehensive protection to the expanding long term care healthcare sector. The new endorsements include: media event expense; disciplinary proceeding defense; emergency evacuation expense; and patient property …
Virginia’s State Corporation Commission is reviewing rules governing long-term care insurance to determine whether revisions are needed. The SCC said Tuesday that it is seeking public comment on the rules. Comments and suggestions also are being sought on a recent …
Insurance wholesaler Highland Risk Services has partnered with Ironshore to provide liability insurance for the Empirical Risk program, which is designed specifically for continuing care retirement communities (CCRCs). CCRCs combine at least three levels of care – independent living, assisted …
What are elderly parents to do when their children no longer bother to visit? In China, there’s a new answer: sue the kids. That’s what 77-year-old “Granny Chu,” of Wuxi, China, did in April. On Monday, a court heard her …
