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The two major insurance issues facing Kansas are winter ice storms that caused more than $48 million in insured property losses and the insurance commissioner's denial of Anthem's proposed takeover of Blue Cross and Blue Shield of Kansas (BCBSKS).
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According
to the Kansas Insurance Department, the January ice storms that slammed
into 33 Kansas counties caused more than $48 million in insured
property losses, but a great deal more property that was damaged was
either uninsured or damaged by the weight of snow, ice, or sleet,
perils not covered by standard home or renters insurance.
Kansas Insurance Commissioner Kathleen Sebelius is
also concerned that many Kansans are unaware that personal and
commercial policies that cover property do not include
insurance protection against flood damage. "If your home and personal
property are vulnerable to damage from rising waters, you must buy a
flood insurance policy from the National Flood Insurance Program to
protect them," Sebelius says.
(Read Who needs flood insurance?.)
Saying the deal would cost consumers $248 million
in additional health insurance premiums over the next five years,
Sebelius made a highly controversial decision to say "no" to Anthem of
Indiana's proposed takeover of BCBSKS. The board of directors of BCBSKS
has since announced that the company will appeal the decision.
The commissioner nixed the sale just one week after
Kansas insurance department lawyers voiced their objections to the
deal. At that time, the lawyers admitted their report would "provoke
virulent reaction" because, nationwide, typically all HMO acquisitions
go through the insurance department approval process without a hitch.
Of her decision to deny Anthem's proposed takeover
of BCBSKS, Sebelius said: "Anthem of Indiana is an aggressive
for-profit, out-of-state holding company. Its corporate goal is to beat
its competitors at making a profit. That's a worthy objective — the
essence of free enterprise. But in this case, Anthem of Indiana would
have forced premium increases on some of our most vulnerable consumers.
I have a duty to protect them."
Shortly after stifling the Anthem deal, Sebelius announced her other decision: to run for governor of Kansas on the Democratic ticket.
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