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JPMorgan Chase and Co. announced today it is providing debit cards to insurance companies that pay workers' compensation claims. The cards will cut costs for insurers and enable them to manage accounts and payments online, the New York-based company says. Central Mutual Insurance Co., which is based in Van Wert, Ohio, has begun offering the card to customers who receive workers' compensation, according to Chase. Chase debit card products include payroll cards, rebate cards, employee-incentive cards, university cards and government-benefits cards for unemployment and state-funded benefits. Chase and Central Mutual did not respond to requests for comment by deadline.
