insurance

Alan Diaz / AP

New York has banned an NRA-branded firearm insurance program. The program is popular with NRA members and covers the legal fees stemming from a shooting. The ban is an abrupt change and calls into question the very concept of gun insurance.

Gene J. Puskar / Bill Sikes / AP

Two Connecticut-based health insurance companies are rushing into the pharmacy business. Hartford-based Aetna said in December it would merge with CVS, and Bloomfield-based Cigna said this month that it would buy Express Scripts. A recent SEC filing signals a haste to reform how and where people buy not just medicine, but healthcare in general.

John Minchillo / AP

The conglomerate General Electric says it is considering a breakup after taking $6 billion in losses to its insurance division.

For decades, GE gobbled up businesses as diverse as credit cards, jet engines, and TV networks. But last year, the company started losing bets made on coal and oil. Then came losses on power plants. Now it’s insurance. GE’s freshly-minted CEO John Flannery says its long-term care insurance division will lose $6 billion this year and $15 billion in the future.

Jessica Hill / AP

New York City has halted a nearly $10 million incentive package for the Hartford, Connecticut-based insurance company Aetna. The package was part of a plan for Aetna to move to the city.

Aetna announced last year it would move its headquarters to New York City beginning in late 2018 after nearly two centuries in Hartford. But the move became uncertain after the drugstore chain CVS Health bought Aetna for $69 billion.

Charles Lane / WSHU

Five years later, homeowners on the East Coast are still recovering from Superstorm Sandy. Even those with insurance are still struggling to get money to rebuild. That’s because thousands of them were systemically underpaid by their insurance companies. 

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