Blue Shield Rate Increase Slammed By Calif. Watchdog

Law360, New York (March 7, 2013, 5:57 PM EST) -- California’s insurance regulator on Thursday slammed a recent rate hike by Blue Shield of California Life and Health Insurance Co., saying the increase was unreasonable and the company had ignored the regulator's request to reduce it.

According to Dave Jones, the state's insurance commissioner, rates for Blue Shield’s individual policyholders went up by an average of 11.7 percent after the company’s rate hike went into effect Mar. 1. The California Department of Insurance had requested that the insurer reduce its suggested rate hike after receiving the...
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