Senior writer, covers health care, finance and life sciences. Twitter: @masanche
The insurance industry in Michigan grew by double digits over a 13-year period and remains poised to grow even more with the cluster of talent based in the state. Those were among the conclusions in a new report that for the first time offers a broad look at the state’s insurance industry, which in 2018 accounted for 4.6 percent of Michigan’s gross domestic output, directly employed more than 80,000 people, and supported another 58,000 jobs indirectly through the purchase of goods and services.
PORTAGE — In the past, First United Credit Union would consider doing a business loan when a member asked about it. Now, after signing on last year with a Portage firm, the small Grandville credit union takes a slightly more proactive approach toward business lending to members.
Legislation that state lawmakers in Lansing are considering would raise requirements for how businesses must handle a data breach. The bills would define the sensitive personal information covered and who is responsible for reporting a data breach, and establish processes and timelines for investigating, responding to and publicly reporting an incident. The law would cover entities with 50 or more employees.
Healthcare Bluebook contracts with 5,000 employers with more than 3 million employees who mostly self-fund their health coverage. Many health plans, such as Grand Rapids-based Priority Health, offer web-based platforms for members to look up prices and get an estimate on what they might pay based on their insurance coverage.
Genesis Innovation Group LLC and its affiliated venture capital funds invested in HAPPE Spine LLC, a Grand Rapids startup developing and commercializing a material for orthopedic implants.
Red Cedar Investment Management LLC has relocated to Grand Rapids after landing a veteran investment team that has ambitious growth plans for the firm.
The latest quarterly economic survey from Business Leaders for Michigan shows continued optimism about the state economy, although few executives expect higher growth through 2019 and into next year.
An associate of the College of Human Medicine at Michigan State University will become the new president of Mercy Health Saint Mary’s next month.
LANSING — A partnership between the state and an economic development organization for the Lansing area is providing an incubator and investment for high-tech, innovative insurance startups.
Members of one organization advocating for small businesses in Lansing left no doubt in their opposition to Gov. Gretchen Whitmer’s proposal to raise the state gas tax 45 cents per gallon to generate $2.5 billion for fixing roads.