Insurance giant Progressive is purchasing Protective in a stock deal worth $338 million. Protective, known as Baldwin & Lyons Insurance until 2018, is the Indianapolis-area’s 12th largest public company in terms of annual revenue.
The benefits administrator, DirectPath LLC, offers a variety of technology-driven services for employees and employers.
Operating revenue for the Indianapolis-based insurer climbed 16% from the same quarter last year to $30.65 billion. But net income fell to $222 million from $1.18 billion.
The goal is to inspire creativity and entrepreneurship among employees who have ideas for products and services that can complement the larger company.
An Indianapolis startup with a unique back story is introducing a solution to a very old—and expensive—problem. Peril Protect is ready for national expansion.
The NCAA’s insurance payout for March Madness is perhaps the largest for a pandemic-related event cancellation thus far.
Jarrett and Lauren Silagyi were thrown from the high-powered boat and severely injured in the crash, which occurred when Daniel Towriss of Zionsville drove the boat into a South Florida jetty. The suit accuses him of drinking before the incident, but he has not been charged.
So many lawsuits have been filed against insurers in the U.S. that a Thursday hearing has been scheduled before a federal judicial panel in Washington to decide how to manage them all in the months—and possibly years—ahead.
The company said it plans to hire 150 sales agents who will work from home during the pandemic, just like the firm’s existing local workforce of 190.
An investment group led by finance-industry veterans V.J. Dowling and David Delaney owns 7% of Protective’s voting stock and had proposed buying the remainder for more than $44 million.
The civil unrest, vandalism and looting comes as business owners continue to cope with the economic impact of the COVID-19 outbreak, which also required them to analyze the fine print of their insurance policies.
The business—formerly Baldwin & Lyons Insurance—is one of central Indiana’s oldest public companies.
The suit, filed earlier this month, alleges that Wisconsin-based Society Insurance rushed to deny the restaurants’ claims for COVID-19-related business losses without properly investigating the claims.
What’s at stake could be the survival of thousands of businesses if insurers don’t pay and the insolvency of big-name insurance companies if they do.
Businesses and not-for-profits in Indiana and across the country have begun suing their insurers in coronavirus-related claims disputes—and attorneys predict a flood of additional cases will follow.
The Indianapolis-based health insurer is accused of falsely certifying the accuracy of incorrect diagnosis data from doctors and other health providers over four years.
Investigators from 39 states, including Indiana, will look into the marketing and sales of vaping products by Juul Labs, including whether the company targeted youths and made misleading claims about nicotine content in its devices, officials announced Tuesday.
The airline industry expects the first annual decline in global passenger demand in 17 years, after tallying up the initial impact of the thousands of flights canceled because of the coronavirus outbreak in China.
In recent years, a host of online websites and smartphone apps—such as GoodRx, Blink Health and Script Saver—have popped up to help people find the lowest price for prescription medicines. By using them, consumers can save thousands of dollars a year on their prescriptions if they don’t mind shopping around and buying some of their drugs outside their insurance plans.
Federal investigators say the woman admitted the funds went toward the purchase of a $605,000 home in Anderson, and that she attempted to evade law enforcement when she learned of the investigation.
