US health uninsured rate remains at record low
The percentage of Americans without health insurance has remained at a record low for the second straight quarter.
Gallup and Healthways (now rebranded to TivityHealth) report that the uninsured rate was 10.9 per cent in the fourth quarter of 2016, unchanged from the third quarter which saw the lowest rate since the two firms began tracking insurance coverage in 2008.
Before the health exchanges opened in October 2013 as part of the ACA, the uninsured rate hit 18 per cent (third quarter of 2013).
The decline in the rate has been most prominent for low-income and Hispanic adults with a drop of 10 percentage points for each group. However, these groups still have higher-than-average uninsured rates: 20.8 per cent for low-income, 27.4 per cent for Hispanic.
Those earning $90k or more (2.7 per cent) and whites (6.9 per cent) have some of the lowest uninsured rates. The rate for black adults (12.5 per cent) has decreased by 8.4 per cent since the fourth quarter of 2013.
Berkshire Hathaway Specialty entering new market
Berkshire Hathaway Specialty Insurance Company is to expand its growing international coverage with a new business in Malaysia.
The insurer has been granted a license to provide non-life insurance in the country and has established an office in the capital Kuala Lumpur, its fourth in the Asia region.
“After putting down roots in Singapore, Hong Kong, and Macau, we are pleased to further expand our operations in Asia and bring facultative reinsurance capacity and new products with the backing of our strong balance sheet to selected Malaysian insurance partners,” said Marc Breuil, President, Asia, BHSI. “With the opening of our Malaysian office, we continue to deepen our underwriting and claims capabilities in the region.”
Arthur J. Gallagher acquires benefits consulting firm
Arthur J. Gallagher has continued its expansion with the acquisition of full-service benefits consultancy Hill, Chesson & Woody (HCW).
"HCW's team is well-respected for their benefits consulting expertise and their ability to anticipate and provide benefit solutions for their clients' evolving business needs," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "In addition, their North Carolina presence and solid industry relationships will be terrific complements to our expanding employee benefits consulting and brokerage operation."
HCW is headquartered in Durham, NC and will continue to operate from its existing location under the current leadership, Todd Yates and Scott Woody, reporting to John Tournet, head of Gallagher's Southeast employee benefit consulting and brokerage operations.
