Wellpoint Pays $6M To End Insurance Rescission Suit

Law360, New York (June 21, 2013, 3:41 PM EDT) -- The city of Los Angeles said Thursday that it had reached a $6 million settlement with managed health care provider Wellpoint Inc., ending a suit accusing the company's subsidiaries of improperly rescinding health care coverage to avoid paying hefty medical bills.

The $6 million payout includes an agreement that Wellpoint and co-defendants Anthem Blue Cross and Anthem Blue Cross Life & Health Insurance Co. will comply with all relevant state rescission rules, according to Los Angeles City Attorney Carmen A. Trutanich. The companies maintain no wrongdoing...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.