All Insurance articles – Page 5
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ArticleDOJ intervenes in lawsuit against Cigna alleging Medicare fraud
Cigna created a home visit program for Medicare patients that artificially inflated government payments by intentionally incorrectly diagnosing tens of thousands of patients with serious illnesses, the Department of Justice charged in an intervenor complaint.
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Ryan Specialty adds first chief risk officer
International insurance firm Ryan Specialty Holdings announced the addition of Waleed Husain as its first chief risk officer.
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Allianz adds chief compliance officer
Allianz Holdings, the primary owner of U.K.-based insurance company Allianz SE, announced the appointment of Alison Rayner as chief compliance and corporate affairs officer, effective February 2023.
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ArticleJohn Hancock to repay $23.8M over N.Y. insurance law violations
John Hancock Life & Health Insurance Company will return a total of $23.8 million to customers and the state of New York and pay a $2.5 million fine for violations of the state’s law regarding the handling of long-term care insurance policies.
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RSA Insurance appoints international chief compliance officer
RSA Insurance announced the appointment of Peter Townsend as chief compliance officer for the company’s United Kingdom and international business.
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Crum & Forster adds chief risk officer
Crum & Forster, a national property and casualty insurance company, announced the appointment of Nick Cook to the newly created role of chief risk officer.
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ArticleHealth Insurance Innovations, ex-CEO to pay $12M to settle fraud charges
Health Insurance Innovations and its former CEO Gavin Stockwell will pay a total of more than $12 million to settle SEC charges of misrepresenting the robustness of the company’s compliance program and misleading investors about customer complaints.
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Admiral Group names group chief risk and compliance officer
Admiral Group, a financial services and insurance company with businesses in the United Kingdom, Europe, and America, announced the appointment of Keith Davies as group chief risk and compliance officer.
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ArticleFCA fines JLT Specialty $9.7M for financial crime control lapses
The U.K. Financial Conduct Authority fined a unit of insurance broker Jardine Lloyd Thompson Group 7.9 million pounds (U.S. $9.7 million) for failing to control financial crime within its South and Central American subsidiaries.
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PartnerRe appoints chief risk officer
PartnerRe announced the appointment of Sima Ruparelia as chief actuarial and risk officer, effective June 27.
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ArticleUSAA whistleblowers want to be heard—and now
Jaclyn Jaeger reflects on feedback received from former and current USAA employees following her three-part series detailing alleged violations of law and mismanaged compliance culture at the financial services giant.
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ArticleA look inside USAA’s ‘catastrophically mismanaged’ compliance culture
In exclusive interviews with Compliance Week, former USAA insiders describe a risk and compliance culture in which numerous individuals either were given the axe or quit because the problems were so endemic.
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ArticleWhistleblower: USAA ‘actively lying to regulators for years’ regarding violations of law
Senior executives at USAA ignored warnings from compliance staff and consultants for years regarding violations of U.S. federal banking laws and hid from regulators the scope of the company’s illegal practices, a former USAA director of compliance turned whistleblower told Compliance Week.
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ArticleWhistleblower to OCC: USAA had 400,000 undisclosed Military Lending Act violations
USAA Bank engaged in an estimated 400,000 violations of the Military Lending Act, a former director of compliance within the bank reported to the Office of the Comptroller of the Currency in documents seen by Compliance Week.
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EternalHealth names chief compliance officer
Health insurance agency EternalHealth announced the appointment of John Price as chief compliance officer.
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AIG appoints chief risk officer
American International Group announced Tom Bolt is taking the reins as executive vice president and chief risk officer. Bolt has served as chief underwriting officer, general insurance since 2018.
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ArticleDOJ declines FCPA prosecution of insurance broker JLT
The Department of Justice informed Jardine Lloyd Thompson Group Holdings it would not face prosecution under the Foreign Corrupt Practices Act despite alleged evidence of nearly $3.2 million the company paid in bribes to Ecuadorian government officials.
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Universal Insurance promotes corporate controller to accounting officer
Universal Insurance Holdings announced the promotion of Gary Ropiecki to principal accounting officer.
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Prudential reshuffles C-suite; names new chief risk and compliance officer
British multinational insurance company Prudential announced Avnish Kalra will become chief risk and compliance officer in March as part of a series of executive-level changes in line with the expected retirement of CEO Mike Wells.
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International General Insurance appoints chief risk officer
International General Insurance Holdings has appointed Stav Tsielepis chief risk officer of the IGI group.