Home » Posts tagged with » Division of Insurance

Humana sends incorrect cancellation letter to policy holders

Consumers should ignore a cancellation letter from Humana, sent in error the last week in August. According to Commissioner of Insurance Marguerite Salazar, the company sent the letter to 3,400 Colorado policy holders. The letter incorrectly states that customers must choose to renew their health insurance with Humana by September 28, 2013, or their insurance… Continue Reading Humana sends incorrect cancellation letter to policy holders

DOI approves 541 new insurance plans under ACA

Comments Off

The Colorado Division of Insurance approved 541 new health insurance plans from 18 carriers that will offer insurance to consumers and businesses starting Jan. 1, 2014. The new health plans must offer, under federal law, a set of essential benefits and a variety of choices. The division started reviewing the plans in May to make… Continue Reading DOI approves 541 new insurance plans under ACA

Continue reading …

More premium money spent on care, report says

Comments Off

More than 80 percent of health insurance premiums collected by Colorado carriers went directly to the cost of providing health care, up from just under 77 percent in 2009. The report, issued by the Colorado Division of Insurance, is for calendar year 2010, and is an annual report that looks at the factors that drive… Continue Reading More premium money spent on care, report says

Continue reading …

DOI fines First American Insurance

Comments Off

The Colorado Division of Insurance fined First American Title $303,000 for violation of state insurance laws, after a market conduct exam. “Market conduct exams ensure that Colorado insurers abide by state insurance laws and regulations, and that consumers are protected,” said Commissioner of Insurance Jim Riesberg. The investigation, which covered First American’s policies in 2009,… Continue Reading DOI fines First American Insurance

Continue reading …

Consumer complaints to the Division of Insurance led to $11.7 million in recovered insurance benefits. In half the complaints filed with the division, insurance companies violated state laws regulations, or disregarded policy provisions. The division published its analysis of consumer complaints during the last fiscal year, a report that covers annuities, auto, health, homeowners, liability,… Continue Reading Division recovers $11.5 million for insured consumers

Continue reading …

The Colorado Division of Insurance will be keeping a closer eye on insurance companies and their ever-increasing proposals to raise premium levels. The division will use a $4 million, three-year federal grant to more accurately and efficiently review the rate increase proposals. Last year, insurance carriers in Colorado increased their rates on average of 9… Continue Reading Insurance division grant allows closer eye on insurance cos.

Continue reading …

An administrative law judge has fined a former Thornton man $1.2 million for violating Colorado insurance law, one of the largest in state history handed down to an insurance agent, according to the Division of Insurance. Salies Kwann Perry was also fined $4,678.47 in restitution for Bankers Life and Casualty Company. Perry is accused of… Continue Reading Thornton man receives largest fine for insurance fraud

Continue reading …

Humana Insurance Company and Humana Health Plan have been fined $299,000 by the Colorado Division of Insurance. The division completed market conduct examinations of the two companies that found violations of Colorado insurance laws. The final orders resulted in fines totaling $184,000 for Human Insurance and $115,000 for Humana Health Plan. Both companies are licensed… Continue Reading Humana companies fined by insurance division

Continue reading …

The Colorado Division of Insurance has launched a new program to aid new businesses with insurance needs. The “Guide to Insurance for Small Business’ provides an overview to many types of insurance so business consumers can have all the information needed at their fingertips. “Growth in small businesses is a critical element to Colorado’s economic… Continue Reading Insurance division launches small business guide

Continue reading …

Lexington National fined $332,000 by DOI

Comments Off

Lexington National Insurance Corp. was fined $332,000 by the Colorado Division of Insurance for violations of Colorado law related to their bail bond business. The company is licensed to provide surety bonds in the state, but the division’s market conduct exam focused on its bail bond figures. Based upon figures reported to the division of… Continue Reading Lexington National fined $332,000 by DOI

Continue reading …
Page 1 of 3123