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Kansas City Blue Shield was formed in 1943. In 1982, the Kansas City Blue Cross and Blue Shield Plans merged, creating Blue Cross and Blue Shield of Kansas City. [6] In 2003, Kansas Insurance Commissioner Sandy Praeger denied a bid from Anthem (the fifth-largest US publicly traded health insurance company at the time) to purchase the company ...
In 1982, Blue Shield merged with The Blue Cross Association to form the Blue Cross and Blue Shield Association (BCBS). [11] Prior to 1986, organizations administering BCBS were tax exempt under 501(c)(4) as social welfare plans. The Tax Reform Act of 1986 revoked the exemption, however, because the plans sold commercial-type insurance.
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
An insurance commissioner (or commissioner of insurance) is a public official in the executive branch of a state or territory in the United States who, along with their office, regulate the insurance industry. The powers granted to the office of an insurance commissioner differ in each state.
Assist Consumers: The Kansas Insurance Department helps consumers when they have disputes with insurance companies. Such assistance has resulted in millions of dollars in refunds and claims payments for consumers; and; License Agents; Approximately 22,000 resident agents and 68,000 nonresident agents are licensed in Kansas to sell insurance ...
Office of the Kansas Securities Commissioner is a division of the Kansas Insurance Department.The mission of the Office of the Kansas Securities Commissioner (KSC) is to protect and inform Kansas investors, to promote integrity and full disclosure by issuers and securities professionals, to investigate and prosecute fraud and to foster capital formation.
Two years after the merger, the new company joined Blue Cross and Blue Shield of Northwest Ohio to form Blue Cross and Blue Shield of Ohio. [8] In 1997, the company left the Blue Cross/Blue Shield Association and re-claimed the name of one of its predecessors, becoming the present day Medical Mutual of Ohio. [9]
The department also determines if services and benefits offered by companies are consistent with insurance policy provisions and Ohio law, reviews and approves more than 6,200 company filings per year for life, accident, health, managed care, and property and casualty policy forms and rates. The Director of Insurance, who is appointed by the ...