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March 08, 2016 at 11:37 AM
The Kentucky Department of Insurance hopes to tell the state’s health insurance agents and brokers by next Tuesday how much it thinks Kentucky Health Cooperative Inc. owes them for unpaid commissions.
A state court issued a liquidation order for the nonprofit, member-owned Consumer Oriented and Operated Plan (CO-OP) carrier in January. The court appointed H. Brian Maynard, the Kentucky insurance commissioner, to be the liquidator.
See also: What happens if health insurers fail?
Agents and brokers do not have to file a formal proof of claim for unpaid Kentucky Health Cooperative commissions, but they can dispute the liquidator’s calculations, if they choose to do so, according to a version of the liquidation notice prepared for agents and brokers.
Any claims for disputed amounts are due by Oct. 15.
Producers who believe they are owed commissions, but do not receive a notice from the liquidator, can file proof-of-claim forms, according to the notice.
