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Interim insurance commissioner named

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John J. Postolowski has been named the state’s interim insurance commissioner, taking over for Marcy Morrison whose term ends Dec. 1. Postowlowski is current deputy commissioner of finance and administration at the division of insurance. He will serve until Gov-elect John Hickenlooper appoints a commissioner. Morrison has been commissioner since 2007 and has previously served… Continue Reading Interim insurance commissioner named

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Reform not to blame for insurance premium hikes

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Health premiums continue to rise, but the Divison of Insurance says reform measures have very little to do with those increases. Marcy Morrison, commissioner of insurance, said she decided to set the record straight to address rumors that premium increases were due to federal health care reform legislation. “It’s a hot issue for many people,… Continue Reading Reform not to blame for insurance premium hikes

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Workers Comp premiums to rise next year

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Colorado employers will face a small increase in workers compensation premiums in 2011, said the Colorado Division of Insurance. Commissioner Marcy Morrison announced a component of the premiums, known as loss costs, will increase by 3.4 percent. Loss costs are the average cost of lost wages and medical payments of workers injured during the course… Continue Reading Workers Comp premiums to rise next year

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Only two Colorado insurance companies have announced their intention to continue to offer “child-only” individual health plans. Kaiser Permanente and Rocky Mountain Health Plans are the only two companies that have told the Division of Insurance they plan to stay in the market. Other companies discussed pulling out of the child only market when federal… Continue Reading Division of Insurance: two companies to continue child-only policies

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IDS Insurance fined $71,000

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IDS Property Casualty Insurance Co. has been fined $71,100 by the Colorado Division of Insurance for practices that violate state law. The division discovered that the company, better known as Ameriprise Auto and Home Insurance Co.) was engaging in a practice known as, “steering,” or illegally pushing business to certain repair shops using rebates or… Continue Reading IDS Insurance fined $71,000

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Pinnacol to pay $15 million to policy holders

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State workers’ compensation insurer, Pinnacol Assurance, will have to pay $15 million back to some of its policy holders and an $80,000 civil penalty under a settlement announced today with the Division of Insurance. The division discovered some irregularities with the way Pinnacol was determining rates for workers’ compensation claims. The company is a quasi-governmental… Continue Reading Pinnacol to pay $15 million to policy holders

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Coloradoans who used American Underwriters Insurance will receive more than $875,000 in refunds from the Kansas-based  insurance company. The Colorado Division of Insurance found that company used inaccurate rates and overcharged Colorado clients. The inaccuracies were discovered during a yearlong review of every insurance company offering credit insurance products in Colorado, an effort to ensure… Continue Reading Kansas insurance company overcharged Colorado customers

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The Colorado Division of Insurance has fined COPIC Insurance, the state’s largest medical-malpractice insurance provider, $48,400 after an investigation into its business practices. The division accused COPIC of “numerous” issues related to its long-term care insurance program, for alleged deficiencies in justifying its rates, certain application forms and for how it solicits money for its Political… Continue Reading State’s largest malpractice insurance firm fined

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Fewer small employers provided health benefits to their employees in 2009, according to a report released by the Colorado Division of Insurance.. “Small employers play a key role in Colorado’s overall insurance market and this year’s report digs deeper into the data,” said Insurance Commissioner Marcy Morrison. “With health premiums continuing to rise for many… Continue Reading Fewer small businesses offer health insurance

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Anthem subject of market review

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Anthem Blue Cross and Blue Shield in Colorado will face a targeted market conduct examination by the Division of Insurance, beginning March 1. Also known as Rocky Mountain Hospital and Medical Service, the company is suspected of causing possible harm to consumers in the individual health market, said the DOI. “We  perform market conduct examinations… Continue Reading Anthem subject of market review

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