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Division of Insurance offers guidance after Obama’s announcement

Division of Insurance offers guidance after Obama’s announcement

The Colorado Division of Insurance has issued a statement from Insurance Commissioner Marguerite Salazar, regarding President Obama’s announcement Thursday about cancelled insurance policies. “In Colorado, we share the same concerns the President expressed [Thursday] about cancelled health insurance policies. The Division of Insurance remains committed to providing access to coverage and consumer choice to Coloradoans,”… Continue Reading Division of Insurance offers guidance after Obama’s announcement

Workers comp rate increase en route

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Colorado employers will see a small increase in workers’ compensation insurance premiums next year. The increase–within the loss-cost component of the insurance–will be half of what it was last year. The Colorado Division of Insurance announced that the “loss costs” component of workers’ compensation premiums will go up 2.6 percent next year. The increase this… Continue Reading Workers comp rate increase en route

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Colorado consumers received more than $12.5 million in recovered insurance benefits during the last fiscal year, said the Colorado Division of Insurance in its annual complaint report. The amount is more than the $11.7 million given back to consumers in the previous fiscal year. The division recently published its annual analysis of the consumer complaints… Continue Reading Insurance division returns $12.5m to Colo. consumers

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A scammer is calling Colorado residents promising refund checks from the “Colorado Insurance Commission” in an effort to get banking information. The Colorado Division of Insurance sent out a warning this week to consumers saying that they should never give out personal banking information over the phone. Here’s the setup: a caller claims to be… Continue Reading Colorado Division of Insurance warns of phone scams

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State insurance website offers premium answers

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A new health insurance website launched today from the Colorado Division of Insurance hopes to answer the questions about the cost of health insurance — questions that plague Coloradans, officials said. “This new website will help arm consumers with the facts on what drives the cost of health insurance premiums, how to shop smart for… Continue Reading State insurance website offers premium answers

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Colorado’s Senior Medicare Patrol is tough on Medicare fraud and was recently recognized for its efforts. The Colorado Division of Insurance’s Senior Medicare Patrol received three national awards for its role in combating Medicare fraud. Colorado was recognized for being among the states with the highest number of Medicare fraud cases referred for investigation –… Continue Reading Senior Medicare Patrol recognized for fraud-busting

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The Colorado  Division of Insurance says the average annual rate increase this year was 12.9 percent. And, it’s expected to keep rising in 2011. Some factors that affect costs include: “claims experience,” or how many claims were filed in the prior year and how severe they were; medical costs, including doctors, hospital charges, laboratory services… Continue Reading Colo. health insurance premiums rose 12.9% in 2010

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Insurance division fines Pioneer General $533,000

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The Colorado Division of Insurance fined Pioneer General Insurance Co. $533,000 for violations of insurance law related to the Colorado bail bond business. Pioneer General is licensed to provide a range of surety bonds in Colorado, but the recent market conduct examination focused on its bail bond business. According to figures reported to the division,… Continue Reading Insurance division fines Pioneer General $533,000

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Marcy Morrison, commissioner of the Division of Insurance, will retire at the end of November. Gov.-elect John Hickenlooper will appoint her replacement as part of his transition plans for 2011. But Morrison doesn’t plan to wait. “Typically, December and January are a slow time of year,” she said. “And insurance companies are going to want… Continue Reading Morrison retiring from insurance division

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Aetna withdraws from Colo. small group market

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Aetna will no longer offer small group insurance in Colorado starting Friday, according to reports from Colorado Managed Care News. The insurance company decided it “could no longer meet the needs of our customers” while remaining competitive in the small group market. That group includes employers with between two and 50 people. Aetna declined to… Continue Reading Aetna withdraws from Colo. small group market

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