State sues WellPoint over data breach
The lawsuit filed Friday in Marion County accuses Indianapolis-based WellPoint of violating a state law that requires businesses to provide notification of data breaches in a timely manner.
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Baldwin & Lyons reports lower profit, higher revenue
The insurer announced Thursday morning that it earned $9.2 million in the third quarter, down from $14.3 million a year ago. Quarterly revenue rose to $67.3 million, up from $65.5 million.
WellPoint dismisses highly paid subsidiary CEO
Last year, Dijuana Lewis earned a $650,000 salary as one of the insurer’s highest paid executives and received a $200,000 bonus in part for helping to lead the sale of the NextRx subsidiary to Express Scripts Inc. for about $4.68 billion.
Principal Financial shift to result in local layoffs
Financial giant Principal Financial Group Inc. is exiting the health insurance business, a move that will cost 60 Indianapolis workers their jobs.
WellPoint, Aetna led U.S. insurers in coverage denial
Until all consumers are required to buy health insurance, coverage restrictions are needed to keep people from gaming the system, insurers say.
WellPoint, other insurers’ stock buybacks concern investors
Indianapolis-based WellPoint Inc. and competing U.S. health insurers approved $10 billion in stock repurchases in the past year, a concern to investors who say buybacks failed to increase share prices and who want more spent on dividends.
Lucas Oil owners to buy former Hilbert estate
Lucas Oil Products Inc. owners Forrest and Charlotte Lucas confirmed they were buying the property for $3 million at a news conference Wednesday afternoon. It will be used for “business activities and community functions.”
Reform will boost health care costs, Indianapolis panel predicts
Rising costs aren't the only impact of reform, say panelists taking part in a Power Breakfast sponsored by Indianapolis Business Journal.
Insurers ordered to appear at Frankfort hearing
Major health insurers, including Indianapolis-based Anthem, are being ordered to a hearing to explain why they are eliminating child-only policies.
Rules mostly falling WellPoint’s way
Health insurers won fairly broad leeway under key rules suggested by state insurance commissioners that will govern what kinds of expenses count toward meeting a new federal threshold to spend at least 80 percent of premiums dollars on medical care.
Health overhaul’s $264M question weighs down WellPoint
The failure by state regulators to decide how much insurers must spend on patient care is scaring investors from health-plan stocks and complicating insurance company decisions.
WellPoint gets $87M Medicare contract renewal
The company said the Centers for Medicare & Medicaid Services renewed its durable medical equipment administrative contract for a region that covers Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio and Wisconsin.
Young & Laramore wins Indiana Farm Bureau account
Young & Laramore “will embark on a brand positioning assignment, and will handle all advertising and marketing communications” for the insurance company.
Former Hilbert mansion draws local interest in auction
Sealed-bid auction attracts a half-dozen bids from interested owners that are “more centrally located than you might think,”
said the listing agent.
Bid deadline looms for former Hilbert mansion
The 25,000-square-foot mansion once owned by Conseco Inc. founder Stephen Hilbert was listed five years
ago at $20 million—and
about half that in recent months. Now the property is being sold in a sealed-bid auction, and offers are due Friday.
California OKs Anthem rate hike after controversy
The California Department of Insurance said Wednesday it approved a rate increase averaging about 14 percent for Anthem Blue
Cross customers. The department also OK’d a nearly 19-percent increase for Blue Shield of California.
WellPoint boosts debt offering to $1 billion
Proceeds from the sale will be used for working capital and general corporate purposes, including debt repayment, the company
said in a prospectus.
CNO Financial profits surge 20 percent, beating expectations
The Carmel-based life and health insurer earned $33.1 million in the three months ended June 30, or 12 cents per diluted share.
Excluding losses on investments and retired debt, the company would have earned 16 cents per share.
Baldwin profit falls on smaller investment returns
The Indianapolis-based insurer of truck and car fleets earned $5 million in the quarter ended June 30, down from $14.2 million
in the same quarter a year ago.
Investors fear insurers’ rosy outlook will boost regulators’ scrutiny
Indianapolis-based WellPoint Inc. became the third U.S. health insurer this month to increase its 2010 profit forecast, stirring
investor concern that state and federal regulators may increase scrutiny of industry pricing.