A general contractor hired a subcontractor to install roofs in a subdivision. Before allowing him to work, however, he required the roofer to provide evidence of insurance. The roofer, who had been refused coverage by two insurance companies in the previous 60 days, contacted an insurance agent in July 2001. A few weeks later, the roofer received a policy from an issuing carrier. On Nov 20, the insurer informed the roofer that his policy had been cancelled because requested underwriting information has not been provided. Following a subsequent audit of the roofer's records, the insurer assessed him for $14,790 in additional premium. The roofer refused to pay, and the insurer filed a collection suit. The appeals court said it appeared that the insured wanted to avoid the expense of buyin...
WHILE legislators were trying to figure out how to use $5 million to delay Public Employees Insurance Agency premium hikes for six months, a legislative audit found that PEIA had lost nearly $9 million over seven years because it didn't charge employer premiums for 264 retirees. In June 2003, PEIA discovered that the agency had failed to bill employers, primarily municipalities, for premiums for the retirees dating back to at least mid-1996.
... Companion Property and Casualty Insurance Company, ... insurance policy based on an unpaid premium. This case was tried to a jury and the jury return... One allowed Companion to conduct periodic audits of Triple H to adjust the insurance premium. . ...
..., Provisions of Policies, Rates of Premium, and Premium Reduction Plans; Interim Rule. [[Page... must have an independent professional audit and certify actual cost efficiencies provides less...
John Morrison, the state insurance commissioner, says he thinks Blue Cross "generally contributes to keeping rates down," because they have the market power to negotiate contracts with providers on price. Blue Cross income and expenses for 2006 2006 income* Net premium income ... $480 million Third-party administration income ... $429 million Net investment income/gains ... $9 million TOTAL ... $618 million 2006 expenditures Claims Medical claim payments to hospitals ... $303.5 million Medical claim payments to physicians, other providers ... $46 million Prescription drug claims ... $61 million Subtotal ... $410.5 million Administration/claims adjustment expense Salaries/wages benefits ... $46.5 million Sales commissions ... $15 million Outsourced services to manage claims cost ... $9....
...Net taxes, assessments --- $3 million. Audit and financial consulting .. $6 million. Other .. $...
... must have an independent professional audit and certify actual cost efficiencies provides less...
To: BUSINESS EDITORS Contact: David G. Baker, President and Chief Executive Officer, +1-973-694-0330
..., primarily due to increases in FDIC insurance premium, audit and accounting, salaries and occupa...
... Solutions, Inc., a leading provider of insurance services and solutions, today announced the availa...
.... * September 16, 2008--Insurance giant AIG is nationalized after insuring Lehman's ...Auditors can't audit these contracts, and regulators can't ... the least financial assets often pay a premium for basic banking services, and those prices or fe...
Of the 1,722 workers' compensation insurance policies that were canceled by BrickStreet Mutual Insurance Co. on Jan. 1 for nonpayment of policy premiums, 180 have been reinstated back to Jan. 1, said Lynette Maselli, spokeswoman for the Office of the Insurance Commissioner. BrickStreet spokesman Andy Wessels said the 180 "do not represent errors on BrickStreet's part. We attribute these to confusion over the audit invoices vs. the premium invoices.
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