Public Hearing Held for Lender-Placed Insurance Companies

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HARTFORD – Anthem Health Plans and ConnectiCare will again submit health insurance rates for review next week to the Connecticut Insurance Department. It will be the seventh year both companies.

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Separate from this development, insurance regulators in California, Florida, New York and Texas held public hearings in 2012 that focused on the costs of lender-placed insurance. Long story short, the regulators were not pleased.

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Health insurers, Anthem Health Plans and ConnectiCare Benefits, Inc. (CBI), have been notified by Connecticut Insurance Commissioner Katharine L. Wade that their will be public hearings for health.

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A public hearing on lender-placed insurance was held on May 17, 2012, at the New York State Department of Financial Services. After the hearing, New York State’s Governor Andrew M. Cuomo and then-Superintendent of Financial Services Benjamin M. Lawsky announced that lender-placed insurers operating in New York must lower the premiums they charge.

If you're responsible for the force-placed insurance program at your. Insurance, one of the largest forced placed insurers in the country. Services public hearings on force-placed insurance held May 17-21 in New York.

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