Va. part of settlement with health insurers
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Associated Press
Published: August 12, 2008
RICHMOND, Va. (AP) — Virginia is among a number of states receiving part of a $20 million regulatory settlement with three health insurance companies.
The State Corporation Commission says Virginia will receive at least $337,451. The money will go to Virginia’s Literary Fund.
The settlement follows a multistate examination of The MEGA Life and Health Insurance Company; Mid-West National Life Insurance Company of Tennessee; and The Chesapeake Life Insurance Company.
The exam identified problems with claims and complaint handling practices, agent oversight and training, and consumer disclosure.
More than 38 states, the District of Columbia and Guam are participating in the settlement.
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