Law & Health Weekly
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Blue Cross Blue Shield of Michigan
Ingham Circuit Court Agrees with Blue Cross Blue Shield of Michigan on Two Counts of Attorney General's Lawsuit
October 25th, 2008
A ruling by Ingham County Circuit Court Judge Paula Manderfield today validates arguments by Blue Cross Blue Shield of Michigan (BCBSM) that the Michigan Insurance Commissioner should determine the appropriateness of a $125 million capital transfer from Blue Cross to its Accident Fund Insurance Corporation of America subsidiary. The transaction was fully disclosed last year when Accident Fund filed a disclosure form with the Office of Financial and Insurance Regulation. In addition to the regulatory approval, the Insurance Commissioner has previously conveyed to the Michigan Legislature that the transaction was proper. The Attorney General's office also was notified in...
Source: Law & Health Weekly (2008-10-25)
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