By Dan SullivanAssociated PressPublished Nov 03, 2018 05:10PMORLANDO, Fla.
(AP) A&am’s insurance company has agreed to buy insurance for the U.S. homeland in a deal that could reduce the risk of a catastrophic collapse.
A&,A spokesman Jonathan Linton said in a statement Thursday.
It will be the nation’s third insurer to buy coverage for the entire United States under the agreement, which was reached in a bid to improve health insurance coverage.
“This deal will enable the American family to enjoy a secure and affordable health insurance option that protects Americans from catastrophic events like a catastrophic event, but also provides coverage for those who may have been harmed by such events,” Linton added.
The company will cover Americans at the same rates as other insurers.
Linton said the new insurance will not affect current Americans who are already covered under existing plans, but will allow people to renew their existing plans.
The deal is the latest to put pressure on the Obama administration to act on the catastrophic risks posed by COVID-19.
That was spurred by a series of high-profile incidents in which people died or were injured in the U of A campus and in an auto-parts factory.
The agreement also is a boon to a business in the state that has struggled with rising costs, which prompted some local businesses to leave or shutter.
The insurance giant said it will offer health coverage to more than 2 million people by 2020.
That’s more than double what it offered last year.
The company has already purchased life insurance coverage in the Northeast and Midwest.