The Associated Press August 19, 2010, 5:43PM ET

Assurant to trim work force due to health reform

Specialty insurance provider Assurant Inc. said Thursday it will cut an unspecified number of jobs as it prepares for changes in the insurance marketplace due to government reform of health care.

The company said it will cut jobs in various locations, including the Milwaukee headquarters of Assurant Health. It expects to complete the layoffs by mid-January.

Assurant estimates it will book $5.5 million in severance and other after-tax costs related to the job cuts in the third quarter and another $1.3 million in the fourth quarter.

Shares fell 81 cents to $36.72 on Thursday.


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