Ingenix Settlement bodes ill for loss minimization strategies

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The recent Ingenix settlement with the New York AG should serve as a warning to insurers that strategies based on managing loss costs after a claim has been made will increasingly be under scrutiny by regulators and AGs. No one ever lost votes by making insurers pay more in claims payouts. Insurers need to increase their focus on risk selection, pricing, operating efficiency, and most importantly, loss control in order to ensure profitability.

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