Business Services Industry

New review for CIGNA: Pennsylvania must hold new hearings on restructuring. (CIGNA Corp.; Pennsylvania Insurance Department)

Business Insurance, June, 1998 by Lenckus, Dave

Pennsylvania must hold new hearings on restructuring HARRISBURG, Pa. - The Pennsylvania Insurance Department will hold new hearings on the reorganization of CIGNA Corp.'s property/casualty operations, after the state Supreme Court declined to review an appellate court decision that held regulators' original approval process was improper.

The court's decision, handed down earlier this month, marks the latest chapter in the long-running battle between some entities trying to undo the reorganization plan and CIGNA's efforts to put the issue behind it. The high court's orders did not comment on the status of CIGNA's reorganization pending the outcome of a new regulatory review of its plan. That issue could ignite yet another round of litigation even before...

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