Matt Denn Wins Major Court Victory Over Insurance Co’s
Denn continues to impress:
After the legislature passed its medical fee schedule legislation there was a $14 million pot of savings suddenly created. Denn issued a ruling in December, 2008 that the savings had to be returned to worker’s comp policy holders. The Insurance companies threatened to sue, Denn said “take your best shot.”
They filed suit in Chancery Court against Denn. On Friday, the Chancery Court issued an opinion upholding what Denn did.
Bottom Line: It will mean about $14.6 million in workers comp. rebates for Delaware policyholders this year. For small businesses it should work out to a rebate of about 12% total annual premiums.
It sure was nice having an Insurance Commissioner back in the day.
I was hoping you might explain John Conyers gaffe to the crowd.
Good for Matt Denn but what about Conyers?
Mike Protack
Like any good dildo, Mike keeps going and going and going…
Besides which, I already addressed that bit of stupidity from Protack.
“It sure was nice having an Insurance Commissioner back in the day. ”
Amen to that.
I wonder how long before Elliott comments on this one.
Where do I find the attached opinion?
I couldn’t figure out how to link to it.
Casualty insurance companies can play some sneaky games to rip off policy holders. One racket involves mousing through a credit report to find a ‘gotcha’ that justifies a higher rate.
This is not necessarily a low credit score that is the sign of a possibly irresponsible deadbeat but the exploitation of often arcane criteria developed by some ‘analyst’ that is obviously in the pay of insurance companies. A ‘golden’ credit score means nothing. Perhaps most of your accounts are less than eight years old. One of my accounts was at over 80% of the limit. It was an account I opened to get a 15% discount on a single major purchase that was more than the amount of my initial credit limit and I paid off the difference with my deposit. The deal involved no interest if paid in full within the year. I planned to do it in six months. This cleverness on my part cost me a few dollars but I learned a lesson and got a free credit report for my troubles.
BTW, beware of those rip-off ads about free credit reports. You will be screwed. If anything in a report costs you money, you are entitled to a free report with no strings attached.
The second question is who got the “WIN” for the $60 million contract that KWS gets to award. But don’t worry, no matter who gets it, Elliot said its not real State money, so it doesn’t matter.
KWS will probably take credit for Denn’s good work again. She’s known for doing that. It wouldn’t be the first time.
Art- I’ve been wondering about this for a while… I get my report for free…but not my score. Isn’t the score part of it. And if it is, where can I got to get the report and the score. My family went through a whole ordeal where all three reporting agencies mixed up my mom and I (I tell people she stole my identity, but she didn’t…it was the reporting companies) and I never have seen my score…just the report.
Art- I’ve been wondering about this for a while… I get my report for free…but not my score. Isn’t the score part of it
I did not get my score when I demanded a report but got the number whenever I went to borrow money. I suppose the reporting companies are out to gouge you any way that they can.
Credit scores can be hurt if you close a lot of dormant accounts or open up a lot of new ones. Heads they win, tails you lose.