China has officially charged AstraZeneca’s former regional head, Leon Wang, who was detained by authorities in the country more than a year ago in relation to probes into the drugmaker’s business. The company confirmed Wang’s indictment to Reuters on Wednesday, a day after disclosing that Chinese prosecutors had charged a former executive vice president and a former senior employee in November, without naming them. They were both charged with “unlawful collection of personal information, illegal trade and medical insurance fraud,” the company said on Tuesday. AstraZeneca’s shares sharply fell after Wang’s detention was announced in October 2024, following probes by…
Author: Awais
In Part 1 of this series, we examined how medical abuse extends far beyond excessive treatment, encompassing inflated billing, referral networks, misleading provider reports, and misuse of ancillary services. These behaviors can distort reserves, extend claim life cycles, and undermine actuarial predictability. Part 2 focuses on detection and strategic response — how insurers, employers and claims managers can operationalize early red-flag identification, credential provider networks, manage litigation, and integrate analytics to reduce the financial and regulatory consequences of medical abuse. Detection, Red Flags, and Claims Workflow Integration To manage the risk of medical abuse, GL and WC claims professionals must…
A recent commentary from Neue Bank AG hailed catastrophe bonds as one of the most compelling financial instruments within the field of alternative investments, with the firm particularly emphasising their capacity to offer significant diversification opportunities for investors.Neue Bank AG is a private bank based in Vaduz, Liechtenstein, specialising in personalised wealth management, investment advice, and financial planning. “Catastrophe bonds (Cat Bonds) are among the most compelling instruments in the field of alternative investments. The market becomes particularly attractive immediately after the end of the hurricane season, as a large share of the global Cat Bond volume provides protection against…
US lawmakers agreed to advance an automotive safety bill that would require manual releases in new vehicles with electrically powered door handles, bringing the measure that could impact designs popularized by Tesla Inc. a step closer to becoming law. The Securing Accessible Functional Emergency Exit Act, or SAFE Exit Act, was forwarded to full committee during a markup session Tuesday by the House Committee on Energy and Commerce. It still has to pass a number of legislative hurdles and may not be ultimately signed into law. The bill, introduced last month by Representative Robin Kelly, an Illinois Democrat, aims to…
Skurbe has more than 25 years of financial services experience covering investment management, risk management, capital markets, operational and financial responsibilities. Prior to Westaim, he served as a senior managing director, chief operating officer and chief financial officer of CC Capital.
The Medicare Drug Price Negotiation Program, enacted as part of the Inflation Reduction Act of 2022 (IRA), was designed to help lower Medicare spending on prescription drugs by requiring the federal government to negotiate the price of some high-cost drugs covered by Medicare. Along with lowering prices, the negotiation program could also improve coverage of drugs selected for negotiation for Medicare beneficiaries because the law requires all Medicare Part D plans to cover each of the selected drugs, including all dosages and forms, when negotiated prices take effect. To measure the effect of the IRA’s coverage requirement for selected drugs,…
BMW is recalling hundreds of thousands of cars due to a potential fire hazard, the German premium carmaker said on Wednesday. The global recall is affecting a mid-six-figure number of cars, a BMW spokesperson said. Newspaper Bild earlier reported on the recall, citing the Munich-based carmaker. Specialty publication kfz-betrieb said a total of 575,000 vehicles from various series are affected. BMW said that product inspections and customer complaints revealed that the starter motor in the identified vehicles could be defective, with an increase in wear and tear in the magnetic switch after a high number of starts, making it potentially…
The OID states there are no immediate changes to how consumers shop for or enroll in coverage for plan years 2026 and 2027, with consumers continuing to use HealthCare.gov in those years, even as Oklahoma begins assuming responsibility “behind the scenes” for key Exchange functions as an SBE-FP, including public engagement and awareness, community assister programs, health plan management, and consumer hotline support. For insurance professionals operating in Oklahoma, the notice indicates that “ownership of various program activities is transitioning” from the Centers for Medicare and Medicaid Services (CMS) to the Oklahoma Insurance Department, including user fee collection, health plan…
The reinsurance market has seen an increase in risk capacity from dedicated parametric underwriters and capital providers, according to reinsurance broker Gallagher Re, who outlined that as traditional reinsurance pricing begins to soften, parametric solutions remain a “competitive option” offering cedants a practical addition to their volatility protection toolkit.In its latest whitepaper, the broker acknowledges that within an environment of increasingly volatile frequency losses and rising reinsurance pricing, parametric solutions have proven to be attractive. The broker noted that 2025 marked a turning point for the global reinsurance sector, as capacity has been ample, and risk-adjusted pricing decreasing from relatively…
The IDOI states the reporting requirement applies to every company authorized to do business in Illinois or accredited by Illinois with assets of at least $50,000,000, including insurance companies, health maintenance organizations, limited health service organizations, dental service plan corporations and accredited reinsurers. The requirement excludes qualified group workers compensation pools, domestic captive insurance companies, fraternal benefit societies, and any risk-bearing entity that in Illinois transacts only Medicare Part C or D plans.
Introduction National spending on health has increased rapidly over time—rising to $5.3 trillion and 18% of GDP in 2024—and is projected to continue to do so into the future. Growth in health spending contributes to higher costs for families, employers, Medicare, Medicaid, and other payers. In 2025, average annual premiums for employer-sponsored family coverage reached $26,993, with workers paying $6,850 for their coverage, according to KFF’s annual survey of employers. Hospital care accounted for nearly one-third of national health expenditures in 2024, and more than doubled in nominal terms over the preceding two decades, making hospitals a major driver of health spending…
Daniel Keeler, head of digital underwriting at CFC, on organizational transformation, digital trading, and the art of partnering for impact
A county commission in Pennsylvania on Tuesday denied a request by Talen Energy to rezone hundreds of acres of land for the development of data centers, marking the latest example of local pushback hampering the U.S. expansion of server warehouses. The rejection by Montour County commissioners follows months of opposition by residents in surrounding communities, who voiced concerns that the project would increase power bills and damage the environment. Talen, in a statement, said it would continue to pursue the development. “We appreciate the opportunity to continue conversations with Montour County leaders and residents about this proposed project,” the company…
The U.S. Food and Drug Administration on Tuesday launched a broad review of a long-used synthetic preservative used in packaged foods, as the agency steps up efforts to reassess chemicals long allowed in the U.S. food supply. The FDA issued a request for information on how manufacturers use Butylated Hydroxyanisole, or BHA, and whether current scientific evidence supports its safety in food and food-contact materials. BHA is a synthetic antioxidant that prevents fats and oils from spoiling in foods, cosmetics, pharmaceuticals, and animal feed, extending product shelf life. The review is part of an FDA program, announced in 2025, to…