New Jersey insurance regulators prepare to tackle a loophole in the state’s insurance system

New Jersey insurance companies have filed a complaint against a North Jersey hospital that is billing them excessively for medical procedures that are not inherently expensive. According to insurers, the claims coming from the Meadowlands Hospital Medical Center in Secaucus, New Jersey, are 3,000% higher than the claims coming from other, similar medical centers. Governor Chris Christie is expected to take up the issue and target the medical center as part of his campaign against rising insurance prices. The problem seems to stem from auto accidents. The Meadowlands Hospital Medical…

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Washington fines insurers for undisclosed rate changes

Six insurance companies have been targeted for fines by state insurance commissioner, Mike Kreidler. He has ordered the companies to pay a total of $534,000 after an investigation found that the companies frequently failed to document rate changes in their commercial policies only. The companies write business for personal and commercial risks and are subsidiaries of New Jersey company, Chubb & Son.  Companies cited: Federal Insurance Company Pacific Indemnity Company Great Northern Insurance Company Executive Risk Indemnity, Incorporated Last November, Kreidler threatened to suspend the companies for nine month, but the move was…

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