NY AG Settles With Insurer AXA Equitable Over Lower Payouts

Law360, New York (July 13, 2012, 2:25 PM ET) -- AXA Equitable Life Insurance Co. reduced payments to customers on medical claims for nine months without telling them, New York's attorney general's office said Friday in announcing a settlement with the New York unit of the French global insurance giant.

From September through May, an undisclosed change to its medical claim reimbursement policy resulted in lower reimbursements by the life insurance giant, the health care bureau of the attorney general's office said.

The settlement could see AXA Equitable pay as much as $850,000 to those customers, the office...
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