company

11 charged in scheme to defraud Georgia-based insurance company | News

State insurance officials announced 11 individuals have been charged in scheme to defraud a Georgia-based insurance company.

According to Georgia Insurance and Safety Fire Commissioner John King, warrants were issued after the 11 individuals tried to allegedly defraud American Family Life Assurance Company (Aflac) out of $120,000.

The insurance commissioner said healthcare employees filed 79 fraudulent insurance claims on their accident and hospital polices for services that were never rendered.

“These 11 individuals were part of a coordinated effort to defraud a prominent Georgia-based company,” said Commissioner King. “These types of fraudulent actions lead to increased premiums for all Georgians.

Read More

The Texas deep freeze could force this energy company out of business

Just Energy said Monday that it could lose about $250 million from Texas’ deep freeze that left millions without power last week. The hit “could be materially adverse to the Company’s liquidity and its ability to continue as a going concern,” it said in a press release.
Canada-based Just Energy (JE) shares dropped more that 30% in early trading on the Toronto Stock Exchange.
The massive spike in energy demand during Texas’ cold snap sent prices soaring. Just Energy noted that Texas energy prices were selling for as much as $9,000 per megawatt hour for much of last
Read More

After Losing a Company to COVID, Owners Seek the Next Gig | Business News

By JOYCE M. ROSENBERG, AP Business Writer

NEW YORK (AP) — As airlines slashed flights and furloughs appeared inevitable in the early days of the coronavirus pandemic, Mike Catania sensed there would be little need for a service that helped airline crews find short-term housing.

So, Catania and his fellow owners shut down Padloop in early March, even though the nearly year-old company had just broken even.

Catania started looking at how life was changing amid the pandemic and came up with the idea for his next business: Locaris, a website to help apartment renters connect with prospective neighbors to

Read More

Tilray stock loses steam as analysts say company not compelling as stand-alone business, look to Aphria deal

Tilray Inc. shares fell on Thursday, as analysts weighed in on the company’s latest quarterly earnings with most looking ahead to the company’s pending merger with Aphria Inc., saying Tilray looks less compelling on its own.

Tilray
TLRY,
+7.79%
reported a loss of $3 million, or 2 cents a share, after reporting losses of more than $200 million in the same quarter a year ago. Revenue came to $56.6 million, or $50.7 million when accounting for excise taxes, after $46.9 million a year ago, or $42.5 million after excise taxes. Analysts on average predicted a loss of 14 cents a

Read More

Leading optics company expanding Tucson presence, adding 50 tech jobs | Business News



Jayson Nelson is manufacturing technology manager at Edmund Optics. The company moved into a new research and development center on East Grant Road in 2016.




Edmund Optics, a leading provider of optical and imaging components, has opened a new assembly and advanced design facility in Tucson and is expected to add about 50 new tech jobs.

The 21,225-square-foot facility, on East Elvira Road near Tucson International Airport, is Edmund’s second site in Tucson and will support advanced design efforts and high-volume manufacturing services, including clean-room assembly, inspection and testing, the company said.

Edmund,

Read More

DTC Insurance Company Lemonade Uses Art To Connect With Its Youthful Customers

Lemonade’s Instagram art

The insurance market is highly competitive, with big marketing budgets and highly recognizable mascots – like the Geico gecko and Progressive’s Flo.

The direct-to-consumer insurance company Lemonade (which went public in July) started four years ago in New York City offering renters’ insurance – the type of $60 per year policies  the  big guys didn’t want to bother with.

Lemonade’s strategy is to sign up customers for its inexpensive renters’ insurance policies, and keep them happy with customer service features like three-second, automated claims payouts. When those customers buy a home, adopt a pet or buy life

Read More