Deficit prompts Vt. Blues chief to quit. (Blue Cross and Blue Shield of Vermont, Timothy Meehan)

National Underwriter Property & Casualty-Risk & Benefits Management, October, 1989 by Connolly, Jim

Deficit Prompts Vt. Blues Chief To Quit A multi-million dollar deficit at Blue Cross and Blue Shield of Vermont has precipitated the company president's resignation. The problem came to a head recently when Timothy Meehan resigned his position and was replaced by Leslie Pratt, executive vice president and chief operating officer, who is currently acting president.

The resignation came as a result of a deficit which the Vermont Department of Banking and Insurance placed at $15.2 million. Leigh Tofferi, Vermont Blues representative, said company actuaries determined that the deficit was $2 million to $3 million lower. Jeffrey Johnson, Vermont deputy insurance commissioner, blamed the problem on a computer system which was generating bad data as well as...

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