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Fort Dearborn Life Opens New York Subsidiary

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A life insurance sister company of Blue Cross and Blue Shield of Illinois has opened a life insurance subsidiary in the Empire State.

Fort Dearborn Life Insurance Company, Chicago, a unit of Health Care Service Corp., Chicago, has opened Fort Dearborn Life Insurance Company of New York for business.

The Fort Dearborn New York subsidiary will start by selling group life insurance, accidental death and dismemberment insurance, group short-term disability insurance, and New York Disability Benefits Law coverage, Fort Dearborn says.

Fort Dearborn also hopes to sell group long term disability insurance, group dental insurance and individual annuities through the New York subsidiary.

Fort Dearborn created the new New York subsidiary by acquiring Northstar Life from a unit of Minnesota Mutual Insurance Companies Inc., St. Paul, Minn., in July 2007.

Fort Dearborn now is in the process of acquiring the group life and disability business of HM Life Insurance Company of New York, an affiliate of Highmark Inc., Pittsburgh.

Fort Dearborn’s parent, Health Care Service, is the parent of Illinois Blue and several other Blues companies, including Blue Cross and Blue Shield of Texas.