by Amy Gillentine Published: October 14,2010
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 [...] [...]
by Amy Gillentine Published: October 6,2010
Tags: child only policy, Division of Insurance, insurance carriers
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 [...] [...]
by Amy Gillentine Published: August 30,2010
Tags: Division of Insurance, IDS Property Casualty Insurance Co., Marcy Morrison
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 [...] [...]
by Amy Gillentine Published: August 24,2010
Tags: Division of Insurance, Pinnacol, settlement
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 [...] [...]
by Amy Gillentine Published: August 9,2010
Tags: American Underwriters Insurance, Division of Insurance, Insurance, Marcy Morrison
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 [...] [...]
by Rob Larimer Published: August 6,2010
Tags: COPIC, Division of Insurance
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 [...] [...]
by Amy Gillentine Published: May 7,2010
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 [...] [...]
by Amy Gillentine Published: February 24,2010
Tags: Anthem Blue Cross and Blue Shield, Division of Insurance, market conduct exam
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 [...] [...]
by Amy Gillentine Published: October 9,2009
The state’s largest health insurance company received fines totaling $457,000 from the Colorado Division of Insurance, which citied a variety of problems it found during routine market conduct examinations. United Healthcare of Colorado received $211,000 in fines and UnitedHealthcare Insurance Co. received $246,000 in fines from the agency. The market conduct examinations covered calendar year [...] [...]
by Amy Gillentine Published: October 6,2009
Tags: Division of Insurance, Marcy Morrison, United Healthcare, United healthcare of Colorado
The Colorado Division of Insurance levied two fines against insurance companies that operate in Colorado. United Healthcare of Colorado received a $211,000 fine and United Healthcare Insurance Company received a $246,000 fine. Commissioner Marcy Morrison said that conduct examinations for calendar year 2007 found that the companies had provided incomplete information in certificates of creditable coverage, [...] [...]
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