Humana To Fork Over $4.5M For Insurance Tying

Law360, New York (February 14, 2014, 5:48 PM EST) -- Humana Insurance Co. will pay $4.5 million to settle charges that it required some employers who purchased small group medical insurance to also purchase a group life insurance product, the Missouri Department of Insurance said Friday.

Missouri said its regulators led a multistate market conduct investigation of Humana in collaboration with regulators in Mississippi and Wisconsin. As part of the settlement, Humana will pay $1.8 million in fines to be divided among 10 states and will establish a $2.7 million consumer restitution pool.

The investigation of...
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.