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AM Best Assigns Indicative Issue Credit Ratings to Humana Inc s New Shelf Registration
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One year of Covid in New York — Third woman recounts advances by Cuomo — AG gets referral to launch investigation
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Good Tuesday morning!
In a landmark decision, Israel’s Supreme Court ruled 8-1 yesterday in favor of recognizing non-Orthodox conversions for the sake of granting citizenship.
The ruling was met with a flurry of condemnation by haredi lawmakers as well as both Israeli chief rabbis. The Likud Party said the decision “endangers the Law of Return,” while Opposition Leader Yair Lapid welcomed the move, saying that Israel needs to “fully equalize the rights of all streams of Judaism Orthodox, Reform and Conservative.” Prime Minister Benjamin Netanyahu has not yet weighed in on the decision.
The justices noted in their decision that they waited 15 years to issue a ruling, during which the Knesset dragged its feet on the issue, and did not advance legislation to address it. The Knesset has previously floated legislation that would allow it to override High Court decisions.
POLITICO Playbook: Biden campaign promises head for the Senate graveyard
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Posted on 10111
AM Best has placed under review with negative implications the Financial Strength Rating of C+ (Marginal) and the Long-Term Issuer Credit Rating of “b-” of Health Insurance Plan of Greater New York (HIP), EmblemHealth Insurance Company, EmblemHealth Plan, Inc. and ConnectiCare, Inc. (ConnectiCare) (Farmington, CT). All companies are subsidiaries of EmblemHealth, Inc. and domiciled in New York, NY, unless otherwise specified.
These Credit Ratings (ratings) actions follow EmblemHealth Group’s third quarter 2020 results, which reported income and capital levels below AM Best’s expectations. In 2016, the level of capital and surplus (i.e., statutory reserve) at HIP fell below its statutory requirement and as a result, the company filed a plan of surplus restoration with the New York State Department of Financial Services. The plan called for meeting and complying with a reduced statutory reserve requ