North Dakota gets share of $20 million insurance settlement
Posted on 9/2/2008
BISMARCK, N.D.--North Dakota recently received a portion of a $20 million national settlement from HealthMarkets Inc., and its affiliated companies, MEGA Life and Health Insurance Co., Mid-West National Life Insurance Co. of Tennessee and The Chesapeake Life Insurance Co.
North Dakota Insurance Commissioner Adam Hamm said North Dakota's share was $5,503. A total of 48 states, the District of Columbia, Guam and Puerto Rico are all part of the settlement.
"A multistate examination revealed some serious consumer protection issues," Hamm said. "This settlement helps North Dakotans by ensuring that HealthMarkets treats its policyholders fairly from now on."
North Dakota's share of the settlement will go to the Insurance Department's regulatory trust fund.
Consumers that would like more information can call the North Dakota Insurance Department at 328-2440 or 1-800-247-0560.