A federal jury in Washington state has issued a $19.3 million verdict against three individuals and their company for pocketing millions of dollars owed to financially troubled insurance company Cascade National.
A Florida senator is repeating his call for the ousting of the state’s insurance commissioner, calling his behavior “reprehensible” and saying he is no longer trustworthy.
The Missouri insurance director has been named receiver of National States Insurance Co., which Missouri’s Department of Insurance said is in hazardous financial condition.
Once lauded as a way for the federal government to aid states in conducting reviews of “unreasonable” rate increases on health insurance, a plan pitched by the Obama Administration is not in a health reform bill set for a vote March 21.
Citing the need to treat policyholders fairly, Pennsylvania’s insurance commissioner has petitioned that the Penn Treaty Network America Co. and its subsidiary, American Network Insurance Co., be liquidated.
The Maryland Insurance Administration received a five-year accreditation from the National Association of Insurance Commissioners following a comprehensive review.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.