Business Services Industry
Texas Insurance Regulators Take Their Time on Blue Cross Deal.
Knight Ridder/Tribune Business News, February, 1998
By Charles Ornstein, The Dallas Morning News Knight Ridder/Tribune Business News
Feb. 16--Blue Cross and Blue Shield of Texas may have cleared the legal hurdles last week to its merger with Blue Cross and Blue Shield of Illinois, but Texas insurance regulators say they are in no rush to approve the deal.
Texas Department of Insurance officials said the proposed partnership would remain on hold until state Attorney General Dan Morales decides whether to appeal a court ruling allowing the deal to proceed.
"Since there is the possibility of appeal, we don't want to rush out and schedule hearings and waste taxpayers' money planning something that could be delayed," said Jim Davis, an Insurance Department spokesman. "There will be no...
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