Insurance Commissioner Mike Chaney says Mississippi is part of a multistate settlement agreement with HealthMarkets, Incorporated and its affiliated insurance companies.
Chaney says the state will receive $400,000.
Chaney 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.
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