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Thousands of military servicemembers now have access to a new tool that could help determine their eligibility for life insurance compensation stemming from a 2006 multistate regulatory settlement agreement regarding military life insurance sales practices. Working through the National Association of Insurance Commissioners, Arizona joined other state insurance departments to develop the new Military Servicemember Policyholder Search Tool available at www.naic.org.
The Arizona Department of Insurance (ADOI) revoked the insurance licenses of Herbert Zaring III and his agency, Arizona Policies Unlimited, Inc. in Tucson. An insurance agent in Arizona since 1981, Zaring sold insurance to businesses in southern Arizona and, on several occasions, Zaring failed to forward his clients’ premium payments to the insurance company, potentially leaving his clients unprotected.
Media Contact: Erin Klug Public Information Officer (602) 364-3471
For Immediate Release January 5, 2009
[Phoenix] - Director of the Arizona Department of Insurance (ADOI), Christina Urias, today announced the results of a compliance examination of CIGNA Healthcare of Arizona, Inc. (CIGNA) and Connecticut General Life Insurance Company (CGLIC) and, under Consent Orders issued September 29, 2008, ADOI ordered the insurance companies to pay a combined civil penalty of $230,000. The Consent Orders identified violations that occurred between January 1, 2004 and June 30, 2005. ADOI found that both companies violated Arizona laws related to timely payment of healthcare providers and handling of consumer healthcare appeals.
Phoenix – State insurance regulators announced the details of a $20 million regulatory settlement agreement between MEGA Life and Health Insurance Company, Mid-West National Life Insurance Company and Chesapeake Life Insurance Company (the Companies) and 29 state jurisdictions. The settlement requires division of the $20 million penalty among the participating jurisdictions based on the Companies’ premium volume in each jurisdiction. Based upon the amount of business in Arizona, the Companies will collectively pay $397,527 in fines and civil penalties to Arizona.
Disaster preparedness is important all year long, but planning for disaster recovery is equally important and adequate insurance protection is critical to any disaster recovery process. Is your insurance ready? With wildfire season rapidly approaching once again, it’s time to make sure your insurance coverage is adequate.
Over the last 3 years, the Arizona Department of Insurance (ADOI) received 259 complaints from insurance consumers regarding annuity sales and investment transactions. While these complaints represent a small percentage of the total number of ADOI complaints, the nature of these complaints offer important lessons for annuity shoppers, especially for seniors. To help Arizona consumers better understand annuities, the ADOI has created a new “Consumer Guide to Annuities for Seniors”.
Phoenix ― The Arizona Department of Insurance (ADOI) responded to 5,020 complaints in 2007 and assisted thousands of Arizona consumers in settling insurance company disputes and helping them recover $7,483,107.56 in claim settlements and refunds. These figures are markedly up from 2006 when ADOI received 4,393 complaints and inquiries and assisted in recovering $3,607,496.84 for Arizona consumers.
The Arizona Department of Insurance has adopted a new rule to establish definitive standards to protect Arizona’s active duty service members from dishonest, misleading and deceptive life insurance and annuity sales practices.
PHOENIX - The Arizona Department of Insurance (ADOI) just released the latest edition of its popular publication, Report on Arizona Health Insurers. This easy to read consumer pamphlet provides information on the latest complaint, health care appeals, market share and enforcement actions for the largest health insurance companies doing business in Arizona. It includes those insurers with at least 2,500 Arizona enrollees, representing approximately 80% of Arizona’s health insurance market.