Indianapolis-based myCOI lands $5M in debt financing to fuel growth
Established in 2009, myCOI uses proprietary software and human expertise to help clients assure that they and their business partners have the proper insurance coverage.
Insurance
Articles
Carmel-based firm uncovers three separate cases of employee fraud
Maria Caceres, a former employee of Seven Corners Inc., stands accused of defrauding the travel insurer by submitting false claims—the third employee to face such charges within two years in separate cases.
Medicaid enrollment swells during pandemic, reaching new high
From February 2020 through January, Medicaid enrollment climbed nationwide by 9.7 million, according to a report based on the most recent available data.
Flurry of resignations helped place storied insurer on path to sale
Protective Insurance Corp. soon will disappear from Indiana’s public company rolls, and part of the reason is Steve Shapiro, a guy you probably have never heard of.
Former head of Eskenazi burn unit sues IU Health, IU medical school
A prominent Indianapolis surgeon is suing Indiana University and Indiana University Health, claiming they broke his contract and interfered with his ability to get another job.
Carmel-based Protective Insurance to be acquired by Progressive
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.
Carmel-based CNO acquires employee benefits administrator for $50M
The benefits administrator, DirectPath LLC, offers a variety of technology-driven services for employees and employers.
Anthem tops third-quarter forecasts as it absorbs big expense hit
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.
Farm Bureau Insurance pursuing culture of innovation by launching startups
The goal is to inspire creativity and entrepreneurship among employees who have ideas for products and services that can complement the larger company.
Startup takes high-tech approach to stopping leaks before homeowner gets soaked
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.
NCAA confirms $270M insurance payout for canceled NCAA tournament
The NCAA’s insurance payout for March Madness is perhaps the largest for a pandemic-related event cancellation thus far.
Fishers couple injured in Florida boat crash sue Zionsville CEO they say was driving unsafely
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.
Struggling merchants, insurers battle over pandemic coverage
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.
eHealth planning hiring surge at north-side regional headquarters
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.
Protective Insurance rejects investment group’s offer but will explore alternatives
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.
Businesses hurt first by virus, then looting, now sweating insurance
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.
Finance vets angle for control of Protective Insurance
The business—formerly Baldwin & Lyons Insurance—is one of central Indiana’s oldest public companies.
Pearl Street Pizzeria, Pure Eatery sue insurer over COVID-19 claim denial
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.
Legal battles loom as businesses hit by virus sue insurers
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.
COVID-19 to unleash torrent of lawsuits against insurers
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.