Sep 03, 2008 - 04:05:36 CDT
Insurance Commissioner Adam Hamm says North Dakota is part of a multistate settlement agreement with HealthMarkets, Incorporated and its affiliated insurance companies.Hamm says the state will receive about $5,500.
Hamm says 48 states, the District of Columbia, Guam and Puerto Rico are all part of the settlement that resulted in a $20 million fine being levied against HealthMarkets.
The settlement comes after a three-year probe that found multiple problems involving consumer disclosure, oversight and training of agents, claims handling and complaint-handling practices. HealthMarkets faces up to $10 million in additional penalties if it fails to meet performance standards outlined in the settlement.
- Associated Press
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