IDENTIFICATION OF COMPANY. 5.A: All claims should be adjudicated under the Company in which the claim is being made. Standard 5.A.1 All claims are adjudicated under the Company in which the claim is being made. 7% Required Action Standard Tolerance
IDENTIFICATION OF COMPANY. The Examiners reviewed the Companies’ policies and procedures to determine compliance with the RSA Standards of this section. The Companies certified that they had not entered into any agreements during the RSA period which would have resulted in claims being adjudicated in violation with Standards in this section. The claim issues found during the original multi-state exam were the result of a settlement of a class action lawsuit. After discussion with the Companies, the examiners asked the Companies to certify that there had been no further settlement such as the one which was the subject of the previous problems. This certification was given to the examiners on April 6, 2011. It states: “…since October 15, 2004 neither The Chesapeake Life Insurance Company, Mid-West National Life Insurance Company of Tennessee nor The MEGA Life and Health Insurance Company have entered into any litigation settlement in which a consumer, who applied for and was issued coverage with one of these insurers, was subsequently issued coverage under another of these insurers as part of a settlement.” Multi-State Examination of MEGA, Mid-West & Chesapeake The table below summarizes the Identification of the Companies review results: Standard # Population Size Sample Size # Non- Compliance % of Non- Compliance Overall Testing Results 5.A.1 1,531,915 111 0 0.0% Pass 5.B.1 N/A N/A 0 0.0% Pass 5.C.1 N/A N/A 0 0.0% Pass 5.C.2 N/A N/A 0 0.0% Pass RSA Standard 5.A.1: All claims are adjudicated under the Company in which the claim is being made. The Companies reported meeting this Standard as of December 31, 2009. The examination review period was January 1, 2010 through December 31, 2010. Of the 111 claims tested by the Examiners there were no instances found to indicate that claims were adjudicated under a different Company from which the claim was made.
IDENTIFICATION OF COMPANY. 5.A: All claims should be adjudicated under the Company in which the claim is being made. Standard 5.A.1 All claims are adjudicated under the Company in which the claim is being made. 7% IN THE MATTER OF THE MARKET CONDUCT EXAMINATION OF THE MEGA LIFE AND HEALTH INSURANCE COMPANY, MID-WEST NATIONAL LIFE INSURANCE COMPANY OF TENNESSEE, AND THE CHESAPEAKE LIFE INSURANCE COMPANY REGULATORY SETTLEMENT AGREEMENT Required Action Standard Tolerance
IDENTIFICATION OF COMPANY. The Company will identify itself at all times by its own name and may not identify itself as Sprint Spectrum or as a Sprint Nextel Affiliate.
