SPOTLIGHT: Cigna Healthcare of Mid-Atlantic fined $40K

Cigna Healthcare of the Mid-Atlantic was fined $40,000 by Virginia insurance regulators after a market conduct examination found the insurer failed to comply with requirements for HMOs, failed to comply with minimum fair business standards in processing and payment of claims for healthcare services, and failed to comply with requirements for processing interest on claims proceeds. As part of the settlement with the Virginia State Corporation Commission Bureau of Insurance, Cigna agreed to comply with a corrective action plan, Insurance and Financial Advisor reports. Article