Saturday, May 17, 2008

CONSECO MUST PAY FOR THEIR APPARENT WRONGDOING TO CUSTOMERS

Hey, CONSECO. and how about the Settlement you guys had to enter into on May 7 or 8th, 2008,
http://www.courant.com/business/hc-bankerslife0508.artmay08,0,2813666.story
" Bankers Life's Parent To Settle Multistate Probe
By DIANE LEVICK |Courant Staff Writer
May 8, 2008

Conseco Inc., parent of Bankers Life and Casualty, will pay at least $32.3 million in a 40-state settlement because subsidiaries improperly denied and delayed claims, misled consumers and sold annuities that weren't suitable for some senior citizens, regulators said Wednesday.

The settlement includes Connecticut, where the state's Insurance Department has received dozens of complaints about Bankers Life sales and marketing practices for such products as annuities and life insurance. Separately from the multistate probe, the department has been investigating several Bankers Life agents.

The settlement of the states' "market conduct examination," which involves Conseco Senior Health as well as Bankers Life, requires Conseco Inc. to pay a $2.3 million fine. The fine will be shared by the 40 states, and the company would have to pay an additional $10 million in fines if problems aren't corrected.

The company must pay at least $4 million of restitution to customers, and will also invest $26 million in system upgrades and improved claims handling.

The investigation found "a pattern of consumer harm" by the company in long-term care insurance, which pays for nursing home, and often, home care.

Under the settlement, Conseco Senior Health will automatically review 1,112 claims that were initially denied. The company will also send notices to another 18,000 policyholders nationwide regarding 49,000 claims that may have been partly denied or denied after an initial payment so consumers can request that those claims be reviewed.

"It is vital that long-term care insurers make prompt and appropriate payment of claims to consumers who are older and whose lives and well-being are dependent upon it," said Joel Ario, acting insurance commissioner in
Pennsylvania, which led the investigation. "Conseco failed this test."

The settlement requires the company to contract with an experienced long-term care claims administrator to make sure claim payments are proper and timely. The investigation found that Bankers Life sold products to senior citizens "that were not necessarily in consumers' best interests," provided misleading information about such products as annuities, and failed to adequately supervise its sales staff, said Rosanne Placey, press secretary at the Pennsylvania Insurance Department.

The accord requires Bankers Life to enhance training of its sales force and change the threshold for disciplinary action so action can be taken against an agent even on a single complaint. The company must supervise all sales representatives and terminate them if they don't comply with marketing standards.

Bankers Life and Conseco Senior Health are also required to handle complaints completely and in a timely way and create a centralized complaint database.

Conseco reported serious issues in complaint and claims handling and blamed problems on "the challenge of integrating various computer systems," Pennsylvania's department said.

"Conseco is committed to meeting standards set forth in the forward-looking settlement to steadily improve our company," Conseco Chief Executive Jim Prieur said in a written statement. "We've been diligently working toward best-in-class service through the process improvement and enhancement program we implemented in 2007, and are already seeing meaningful results in claims and complaint handling."

Prieur said the examiners "did not find that Conseco engaged in a practice of improper claim denials." Pennsylvania regulators say the problem in most cases was delay of claim payments rather than outright denials, and that some claims were paid that shouldn't have been paid.

The $2.3 million fine may seem small to some consumers, but Placey said, "We thought it was very important to focus significant dollars [instead] on improving complaint and claims handling systems at the company so that this won't be happening again."

Conseco could wind up paying more than $4 million in restitution on claims if that's what it takes, Placey noted. The settlement covers claims filed from Jan. 1, 2005, through April 30, 2007."

TEXAS INSURANCE CODE VIOLATIONS
22.
Section VIII is incorporated herein by reference. Defendant has violated T
EX
.I
NS
.C
ODE
A
NN
. art. 21.21 by engaging in one or more of the following acts or practices:
a.
engaging in unfair or deceptive acts or practices in the business of insurance, in
violation of T
EX
. I
NS
. C
ODE
A
NN
. art. 21.21, § 3;
b.
making, issuing, circulating, or causing to be made, issued or circulated, a
statement misrepresenting the terms of a policy issued or to be issued or the
benefits or advantages promised thereby, in violation of TEX. INS. CODE Art.
21.21, § 4(1); and
c.
making, publishing, disseminating, circulating or placing before the public
TEXAS INSURANCE CODE VIOLATIONS
22.
Section VIII is incorporated herein by reference. Defendant has violated T
EX
.I
NS
.C
ODE
A
NN
. art. 21.21 by engaging in one or more of the following acts or practices:
a.
engaging in unfair or deceptive acts or practices in the business of insurance, in
violation of T
EX
. I
NS
. C
ODE
A
NN
. art. 21.21, § 3;
b.
making, issuing, circulating, or causing to be made, issued or circulated, a
statement misrepresenting the terms of a policy issued or to be issued or the
benefits or advantages promised thereby, in violation of TEX. INS. CODE Art.
21.21, § 4(1); and
c.
making, publishing, disseminating, circulating or placing before the public
The then attorney general of Texas, now Senator, alleged Violations of Texas laws, regulations, and codes by Conseco on pages 8,9,and 10, and the then attorney General alleged insurance code violations, administrative code violations, and deceptive trade practices act violations by Conseco.
These are detailed in the accompanying PDF entitled TEXAS VS CONSECO.
But, let's look at more of the history of Conseco in Texas.
From https://apps.tdi.state.tx.us/pcci/pcci_show_profile.jsp?tdiNum=12875, concerning

"CONSECO HEALTH INSURANCE COMPANY" (surely this is associated with Conseco) given the address of the company)
General Information:
Type of Entity: CL
Status of TX License: Active
NAIC Number: 78174
TDI Company Number: 12875
Company Type Code (Old / New): 02/22
FEIN: 341083130
Home City/State: Phoenix, AZ
Origin: Foreign
Date Incorporated/Organized: 10/01/1970
Date Licensed in Texas: 10/01/1976
Date License Cancelled:
Company Status: Normal Operations
Category: Life
Class Code: Life & Health

Contact Information:
Mailing Address: 11825 North Pennsylvania Street
Carmel IN 46032
Office Number: (317)817-4300
Toll Free Number: (800)541-2254
Fax Number: (317)817-2161

Types of Insurance Licensed to Write:
  • Accident
  • Health
  • Life



Rating By Financial Organization:

The following organizations rate insurance companies on their financial strength and stability. S


Financial Information:

As of: Dec. 31, 2005 Dec. 31, 2006 Dec. 31, 2007
Total Assets $2,077,670,526 $2,187,859,114 $2,361,267,595
Total Liabilities $1,974,736,298 $2,082,708,062 $2,252,770,603
Asset to Liability Ratio 1.05 1.05 1.05
Capital $2,500,000 $2,500,000 $2,500,000
Net Surplus $100,434,228 $102,651,052 $105,996,993
Net Life Ins $71,587,000 $69,077,000 $63,439,000


Premiums:

As of: Dec. 31, 2005 Dec. 31, 2006 Dec. 31, 2007
Life and Annuities $144,673 $173,970 $167,753
Accident and Health $39,018,139 $32,989,671 $31,186,511
Property and Casualty N/A N/A N/A
Total Texas Premium $39,162,812 $33,163,641 $31,354,264
National Premium $443,495,394 $403,098,261 $385,617,130


Complaint Information:

When considering the company's complaint index and ratio, be sure to review the company history information displayed below for recent acquisitions, mergers, or other events that may affect the figures displayed for this company.

DEC 31, 2006 DEC 31, 2007 MAY 15, 2008
Justified Complaints:
Life and Annuity 0 0 0
Accident and Health 7 4 6
Homeowner 0 0 0
Automobile 0 0 0
Complaint Ratio/Index Ratio Index Ratio Index
Life and Annuities .0000 .0000 .0000 .0000 N/A
Accident and Health .0160 2.4506 .0092 1.2215 N/A
Homeowner .0000 .0000 .0000 .0000 N/A
Automobile .0000 .0000 .0000 .0000 N/A

Justified Complaints: the number of justified complaints closed against the company for the line of insurance and year indicated. A complaint is justified if there is an apparent violation of a policy provision, contract provision, rule, or statute, or there is a valid concern that a prudent layperson would regard as a practice or service that is below customary business or medical practice.

Complaint Ratios: the ratio, expressed as a percentage, is the number of closed justified complaints divided by the number of policies the company had in force for the line of insurance and year indicated.

Complaint Index: indicates how a company's ratio of the number of complaints to the number of policyholders compares to the average for all insurers. The index is calculated by dividing the company's percentage of complaints for a specific line of insurance by the company's percentage of the policies in force for the same line of insurance. The average index is 1.00. A number less than 1 indicates fewer complaints than average; a number greater than 1 indicates more complaints than average. For the most recent completed year, a given insurer's index may change over time, as policy count data is received by TDI. This will affect each insurer's percentage of the total.

Complaints against an insurance company are not part of the complaint tally above if the insurance company served only as a Third Party Administrator (TPA), a company hired simply to administer the paperwork of a health plan. Instead, they are included in the complaint record of the insurance company or HMO that hired the TPA. If a bonafide self-insured benefit plan hired the TPA, no complaint numbers are recorded as a part of the company/TPA's profile. Neither are profiles available for self-insured plans, as such plans are regulated under federal law.


Company History:

Date Event
01-28-2008 PENALTY OF $2,000 FOR VIOLATIONS FOUND DURING A COMPLAINT INVESTIGATION IN NEBRASKA.
01-08-2008 PENALTY OF $1,000 FOR VIOLATIONS FOUND DURING A COMPLAINT INVESTIGATION IN NEBRASKA.
04-21-2006 PENALTY OF $2,500,000 PAID BY COMPANY, CONSECO INSURANCE COMPANY, CONSECO LIFE INSURANCE COMPANY, CONSECO SENIOR HEALTH INSURANCE COMPANY, JEFFERSON NATIONAL LIFE INSURANCE COMPANY, AND CONSECO MEDICAL INSURANCE COMPANY FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MINNESOTA.
04-12-2005 PENALTY OF $58,469 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MISSOURI.
02-11-2004 PENALTY OF $11,000 FOR FAILURE TO PROVIDE FOR MIDTERM CANCELLATION OF MEDICARE SUPPLEMENT POLICIES, FAILURE TO ISSUE PRO RATA REFUND OF PREMIUMS TO INSUREDS, AND FAILURE TO IMMEDIATELY REFUND PREMIUMS TO POLICYHOLDERS IN WISCONSIN.
01-20-2004 PENALTY OF $5,000 FOR FAILURE TO TIMELY FILE LOSS RESERVE CERTIFICATION IN MINNESOTA
04-29-2002 PENALTY OF $7,500 FOR ADVERTISING VIOLATIONS AND FAILURE TO TIMELY RESPOND TO INQUIRIES IN TEXAS.
03-25-2002 EFFECTIVE 7/1/2001, FRONTIER NATIONAL LIFE INSURANCE COMPANY (05230) CLEVELAND, OHIO MERGED INTO COMPANY
02-26-1999 CAPITOL AMERICAN LIFE INSURANCE COMPANY
02-26-1999 FORMERLY: CAPITOL AMERICAN LIFE INSURANCE COMPANY
01-28-1998 PENALTY OF $48,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN KENTUCKY.
10-04-1993 PENALTY OF $50,000 FOR VIOLATIONS REGARDING THE SALE OF INSURANCE POLICIES IN INDIANA.
10-29-1992 MOVED HOME OFFICE FROM SCOTTSDALE, ARIZONA TO PHOENIX, ARIZONA
07-10-1992 PENALTY OF $42,500 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ARIZONA.
07-02-1992 PENALTY OF $50,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN NORTH DAKOTA.
12-05-1991 PENALTY OF $25,000 FOR VIOLATIONS OF THE INSURANCE LAWS IN INDIANA.
10-15-1991 PENALTY OF $9,300 FOR FAILURE TO REFUND MONEY TO POLICYHOLDERS WITHIN 10 DAYS IN MINNESOTA.

Notice, there violations in several states going back to 1991, that 17 years ago (still not as long as I've been a doctor in Texas though). Also, notice just a little over two years ago, in April 2006,
your company was fined, how much?


"PENALTY OF $2,500,000 PAID BY COMPANY, CONSECO INSURANCE COMPANY, CONSECO LIFE INSURANCE COMPANY, CONSECO SENIOR HEALTH INSURANCE COMPANY, JEFFERSON NATIONAL LIFE INSURANCE COMPANY, AND CONSECO MEDICAL INSURANCE COMPANY FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MINNESOTA. "

And, just a bit more about this little MAY 2008 Settlement Conseco had to enter into...
" Conseco Reaches Settlement of Multistate Market Conduct Examination

CARMEL, Ind., May 7 /PRNewswire-FirstCall/ -- Conseco, Inc. (NYSE: CNO) today announced a settlement among state insurance regulators and two of its insurance subsidiaries: Conseco Senior Health Insurance (CSHI) Company and Bankers Life and Casualty Company. The settlement concludes a multistate market conduct examination led by Pennsylvania, Illinois, Indiana, Texas and Florida related to long-term care claims practices and procedures, complaint handling, and sales and marketing practices.

    Under the agreement:
-- Conseco will pay a fine of up to $2.3 million, with an
additional $10 million in the event Conseco fails to meet the process improvement
benchmarks over the next two-and-a-half years.
-- Conseco will review certain claims from 2005-2007 and provide up to $4
million of remediation.
-- Conseco will implement a detailed process improvement plan designed to
achieve performance standards for the timely processing of claims and
complaints and other processes, as part of an improvement program
undertaken by the company in 2007. Under that program, Conseco is
moving several long-term care back-office functions to the Long-Term
Care Group, Inc. to better manage the CSHI business and improve
customer service, and Conseco is investing $26 million on systems
enhancements and business process improvements over the next
two-and-a-half years. The plan will be monitored by the lead states."


---------------------------------------END OF QUOTE------------------------------------------------------------------
Now, did you guys have to shell out 2.3 million and be monitored and agree to changes because
your company is so honest, dedicated to doing the right thing for the customers, and so on?
I don't think so, and I think this piece of news should be dessiminated far and wide on the web,
along with the New York Times article.
Given from what I have found out about the way your company takes advantage of the elderly,
the widowed (my mom is in both categories), if you think that sending your "exhibits" and giving
me the old "okie doke" is going to make me think everything is fine, then you are out of touch
with reality, and don't know me very well.
And, while we are at it, about the experience of Conseco health related companies in Texas,
how about good old "CONSECO MEDICAL INSURANCE COMPANY" in Texas, that had its license to do business
in Texas CANCELLED?
https://apps.tdi.state.tx.us/pcci/pcci_show_profile.jsp?tdiNum=93903
Date Event
10-29-2003 EFFECTIVE 7/1/2003, MERGED INTO WASHINGTON NATIONAL INSURANCE COMPANY (89550) CHICAGO, ILLINOIS CERTIFICATE OF AUTHORITY CANCELLED
09-26-2002 PENALTY OF $5,000 FOR FAILURE TO TIMELY FILE AN ANNUAL CERTIFICATION FORM IN TEXAS.
04-26-2002 APPROVED TO WITHDRAW FROM WRITING INDIVIDUAL ACCIDENT AND HEALTH INSURANCE IN TEXAS. COMPANY MAY NOT RE-ENTER MARKET FOR THESE LINES WITHOUT PRIOR APPROVAL UNTIL 04/26/2007.
10-12-2001 PENALTY OF $8,500 PAID BY COMPANY AND MANHATTAN NATIONAL LIFE INSURANCE COMPANY FOR FAILURE TO FILE WITHIN 30 DAYS REVISIONS TO AN INFORMATIONAL RATE FILING IN NEW JERSEY.
09-06-2001 APPROVED TO WITHDRAW FROM WRITING GROUP ACCIDENT AND HEALTH INSURANCE IN TEXAS. COMPANY MAY NOT RE-ENTER MARKET FOR THESE LINES WITHOUT PRIOR APPROVAL UNTIL 09/06/2006.
05-30-2001 PENALTY OF $5,000 FOR FAILURE TO OFFER A RIDER TO BENEFIT PLANS AND FOR A RATE VIOLATION IN TEXAS.
05-23-2001 PENALTY OF $25,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MARYLAND.
04-09-2001 PENALTY OF $26,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ARIZONA.
03-06-2001 PENALTY OF $5,000 FOR FAILURE TO RESPOND IN A TIMELY MANNER TO INQUIRIES FROM THE DIVISION OF INSURANCE IN SOUTH DAKOTA.
02-07-2001 PENALTY OF $5,000 FOR VIOLATIONS FOUND DURING A HEALTH CARE APPEALS AUDIT IN ARIZONA.
09-30-1999 EFFECTIVE 01/01/1999 NATIONAL GROUP LIFE INSURANCE COMPANY (05190) CHICAGO, ILLINOIS MERGED INTO COMPANY
08-24-1999 EFFECTIVE 01/01/1999 CONTINENTAL LIFE & ACCIDENT COMPANY (02050) CHICAGO, ILLINOIS MERGED INTO COMPANY
02-04-1999 CONNECTICUT NATIONAL LIFE INSURANCE COMPANY
02-04-1999 FORMERLY: CONNECTICUT NATIONAL LIFE INSURANCE COMPANY MOVED HOME OFFICE FROM SCHAUMBURG, ILLINOIS TO CHICAGO, ILLINOIS
11-24-1998 PENALTY OF $5,000 FOR FAILING TO FILE PREMIUM INCREASES IN KANSAS.
05-13-1996 REDOMESTICATED FROM SIMSBURY, CONNECTICUT TO SCHAUMBURG, ILLINOIS BY WAY OF CHARTER AMENDMENT
05-08-1995 EFFECTIVE 01/01/1990 PARTIALLY REINSURED CERTAIN LIFE AND ANNUITY BUSINESS OF MONTGOMERY WARD LIFE INSURANCE COMPANY (56100) SCHAUMBURG, ILLINOIS
01-07-1994 REDOMESTICATED FROM NEWARK, NEW JERSEY TO SIMSBURY, CONNECTICUT BY WAY OF CHARTER AMENDMENT
03-16-1992 PENALTY OF $5,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ARIZONA.

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Friday, May 16, 2008

CONSECO (aka CON-SICKO) GENERATES A TON OF BAD PUBLICITY

Since I have been ripped off in the tune of almost twelve thousand (12,000) dollars by Conseco, run by Claude James Prieur as CEO (aka "C. James Prieur". I have started doing some searching on the net, and honestly, I am aghast and mystified as to why they are still in business, still ripping off seniors and victimizing the elderly.

I think that the problem is that big money buys influence, and your average person, never gets fully motivated to file lawsuits, organize, spread the word.

Well, this old woman is not afraid to squeal when she gets stepped on. I am not afraid to speak truth to power whether its BANKSTER'S LIFE, ER...."BANKERS LIFE" or "CON-SECO".

Come to think of it, their name should be CON (as in confidence game or "con man") - SICKO, because you have to be a pretty sick individual or company to prey on the sick, infirmed, widowed, elderly.

A number of investigations have now been started into the way CONSECO has, and continues to treat me, both federal and state.

So, Mr. Prieur, get ready to defend yourself.

Others need to speak out too.

"To see a wrong and not expose it, is to become a silent partner to its continuance." -
Dr John Raymond Baker.

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Tuesday, May 13, 2008

APPARENTLY, CONSECO HAS BEEN RIPPING OFF SENIORS FOR YEARS...SEE NEW YORK TIMES ARTICLE

Please see article about how Conseco is taking advantage of seniors and the elderly at :

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CONSECO DID IT AGAIN, WRONGFULLY WITHDREW ANOTHER $81.43 FROM MY BANK ACCOUNT

May 13, 2008. This is the 12th anniversary of the death of my second husband, Clarence, and the 12th anniversary of Conseco insurance ripping me off by taking my money, without my authorization, on a dead man.

Well, Conseco executives, Claude James Prieur, and Ron Bramlett, II, had in their corporate hands, a certified letter on April 21, 2008, complaining of them ripping me off for , at that time, almost 12 years, at eighty one dollars and forty three cents a month, twelve months a year, for twelve years.

That's 81.43 X 12 X 12 (or 81.43 times 12 squared, or 144). At this point, Conseco has taken
eleven thousand, seven hundred twenty five dollars and ninety two cents from my bank account, on my husband who died twelve years ago today!

To an 82 year old widow woman like me, on a fixed income, that is a tremendous amount of money to have taken from you by this corporate giant, without your authorization, without reason, and I assert, illegally and wrongfully.

Contact CONSECO and tell them to stop.

800-242-4852

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Monday, May 12, 2008

My Complaint against CONSECO on Complaint Forum

My husband, Clarence Smith, died in Houston on May 13, 1996.He had a cancer policy from Transport Life, which later was bought by CONSECO Insurance. When he died, I sent a copy of his death certificate and a letter requesting they close his policy and no longer take funds from my bank account, since he had just died of pancreatic cancer. I assumed, they would be professional enough to act on my request. Almost 12 years later, my bank upgraded their computers and suddenly, there was more information on the withdrawal line which showed that they were taking TWO amounts out each month, for a total of around eighty one dollars and forty three cents ($81.43) a month, around a grand a year, which, for 11 years and 11 months, it totals to very close to 12 thousand dollars. TWELVE THOUSAND.
I have thus far sent TWO certified letters including the complaint and demand for return of my money, taken out in an unauthorized fashion since I withdrew my authorization when my husband died. I have also faxed and mailed and emailed this complaint, including supporting documents.
They have not responded YET. I am an 82 year old widow woman, having lost my last husband on November 9,2007, and I rely on my fixed income to live. For CONSECO insurance, and its CEO, Mr. Claude James Prieur, who now, has affirmative knowledge of my complaint and allegations and demand for refund in full, for him NOT to immediately refund my money, is shameful, and points out exactly how CONSECO runs its business.
Please call 317-817-6100 and DEMAND Mr. Jim Prieur get onboard with integrity, hook up with honesty, and do the right thing!
Thank you.
Mrs. Laverty

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Sunday, May 11, 2008

HISTORY OF CONSECO COMPLAINTS AND WRONGDOINGS

Let's look at more about Conseco Insurance....
https://apps.tdi.state.tx.us/pcci/pcci_show_profile.jsp?tdiNum=12875
"

Complaint Index: indicates how a company's ratio of the number of complaints to the number of policyholders compares to the average for all insurers. The index is calculated by dividing the company's percentage of complaints for a specific line of insurance by the company's percentage of the policies in force for the same line of insurance. The average index is 1.00. A number less than 1 indicates fewer complaints than average; a number greater than 1 indicates more complaints than average. For the most recent completed year, a given insurer's index may change over time, as policy count data is received by TDI. This will affect each insurer's percentage of the total.

Complaints against an insurance company are not part of the complaint tally above if the insurance company served only as a Third Party Administrator (TPA), a company hired simply to administer the paperwork of a health plan. Instead, they are included in the complaint record of the insurance company or HMO that hired the TPA. If a bonafide self-insured benefit plan hired the TPA, no complaint numbers are recorded as a part of the company/TPA's profile. Neither are profiles available for self-insured plans, as such plans are regulated under federal law.


Company History:

Date Event
01-28-2008 PENALTY OF $2,000 FOR VIOLATIONS FOUND DURING A COMPLAINT INVESTIGATION IN NEBRASKA.
01-08-2008 PENALTY OF $1,000 FOR VIOLATIONS FOUND DURING A COMPLAINT INVESTIGATION IN NEBRASKA.
04-21-2006 PENALTY OF $2,500,000 PAID BY COMPANY, CONSECO INSURANCE COMPANY, CONSECO LIFE INSURANCE COMPANY, CONSECO SENIOR HEALTH INSURANCE COMPANY, JEFFERSON NATIONAL LIFE INSURANCE COMPANY, AND CONSECO MEDICAL INSURANCE COMPANY FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MINNESOTA.
04-12-2005 PENALTY OF $58,469 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MISSOURI.
02-11-2004 PENALTY OF $11,000 FOR FAILURE TO PROVIDE FOR MIDTERM CANCELLATION OF MEDICARE SUPPLEMENT POLICIES, FAILURE TO ISSUE PRO RATA REFUND OF PREMIUMS TO INSUREDS, AND FAILURE TO IMMEDIATELY REFUND PREMIUMS TO POLICYHOLDERS IN WISCONSIN.
01-20-2004 PENALTY OF $5,000 FOR FAILURE TO TIMELY FILE LOSS RESERVE CERTIFICATION IN MINNESOTA
04-29-2002 PENALTY OF $7,500 FOR ADVERTISING VIOLATIONS AND FAILURE TO TIMELY RESPOND TO INQUIRIES IN TEXAS.
03-25-2002 EFFECTIVE 7/1/2001, FRONTIER NATIONAL LIFE INSURANCE COMPANY (05230) CLEVELAND, OHIO MERGED INTO COMPANY
02-26-1999 CAPITOL AMERICAN LIFE INSURANCE COMPANY
02-26-1999 FORMERLY: CAPITOL AMERICAN LIFE INSURANCE COMPANY
01-28-1998 PENALTY OF $48,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN KENTUCKY.
10-04-1993 PENALTY OF $50,000 FOR VIOLATIONS REGARDING THE SALE OF INSURANCE POLICIES IN INDIANA.
10-29-1992 MOVED HOME OFFICE FROM SCOTTSDALE, ARIZONA TO PHOENIX, ARIZONA
07-10-1992 PENALTY OF $42,500 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ARIZONA.
07-02-1992 PENALTY OF $50,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN NORTH DAKOTA.
12-05-1991 PENALTY OF $25,000 FOR VIOLATIONS OF THE INSURANCE LAWS IN INDIANA.
10-15-1991 PENALTY OF $9,300 FOR FAILURE TO REFUND MONEY TO POLICYHOLDERS WITHIN 10 DAYS IN MINNESOTA.

"http://www.lawyersandsettlements.com/case/long-term-care-insurance.html

On March 26, 2007 the New York Times reported that thousands of policy holders have been denied benefits. One example of an insurance company acting in bad faith is Conseco. It denied an 81 year old widow benefits, even though she had paid into a long term insurance policy since 1990. The company kept coming up with one excuse after another and in the end, her family had to pay about $70,000 to a long-term care facility. Conseco didn't pay anything

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Friday, May 9, 2008

SENIORS NEED TO TELL CONSECO WE MAY BE OLD, BUT NOT DEFENSELESS

I consider Conseco continuing to take premiums out of my bank account , after, 12 years ago, informing them my husband died ( I sent them a death certificate of my husband days after he died) CRIMINAL. I don't know what else you would call it.

My second husband died on May 13, 1996. I was devastated by losing my husband, but, I had the presence of mind to obtain a legal copy of his death certificate, and to mail it to Conseco and ask them to quit taking premiums out of my account and to discontinue / close the policy out, since it was a cancer policy and he died of cancer.

Like I guess , most people, I thought it would be taken care of, and they would do as I asked.

Not so. I have various insurance policies, and most are just withdrawn by the company monthly.

But, there was no description on the policy withdrawal line to indicate who was insured. In December 2007, my bank, Regions Bank, apparently got an upgrade to their computers which allowed them to print out more details about the withdrawals. To my horror, I saw they were taken out two different amounts on my second husband, Clarence Smith, all this time.

I called Conseco, and an employee / insurance representative, assured me that if I could prove my husband was dead and they had been taking out the money, that it would all be restored to me.

Well, she should be the CEO instead of C. James Prieur, because, at this point, his office has received one certified letter of complaint and demand for return of funds, and a second will be on its way. No response. No writing of any kind. In fact, Prieur took over the position from another man.

http://www.insurancenewsnet.com/a*rticle.asp?a=top_lh&id=62058

May 5, 2006 Friday 1:03 AM GMT

SECTION: BUSINESS NEWS

HEADLINE: Conseco CEO resigns same day insurer posts lower profits

BYLINE: By CHARLES WILSON, Associated Press Writer

DATELINE: INDIANAPOLIS

Conseco Inc. reported a 24 percent drop in quarterly income Thursday, hours after the life and health insurer said its chief executive was resigning.

Conseco President and CEO William S. Kirsch will leave the company on May 23 after less than two years at the helm. James E. Hohmann, the company's former chief administrative officer, will take over as interim CEO until a permanent replacement is found.

The news sent Conseco shares tumbling nearly 6 percent.

In the first quarter, Conseco had net income of $55.1 million, or 35 cents per share, down from $72.3 million, or 44 cents a share in the same period last year.

Excluding one-time items, Conseco earned $55.8 million, or 36 cents, compared to $70.3 million, or 43 cents, in the first quarter of 2005.

The results were 10 cents per share below the forecast of analysts surveyed by Thomson Financial.

The results included an after-tax impact of 5 cents to boost litigation reserves for a lawsuit settlement, according to the company, based in the Indianapolis suburb of Carmel. Conseco spokesman Tony Zehnder declined to comment on specific litigation.

======================================================END of QUOTE
We seniors need to stick up for each other.

Heres's some names and positions in the company:
http://www.hoovers.com/free/co/people.xhtml?ID=10391
CEO and Director C. James Prieur
Age 56
$270,000 salary
$357,534 bonus
Network | E-mail
EVP and CIO Russell M. (Russ) Bostick
Age 51
Network | E-mail
EVP New Product Development Christopher J. Nickele
Age 51
Network | E-mail