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October 19, 1999
FOR IMMEDIATE RELEASE
Contact:Eric Cioppa, Deputy Superintendent
Tel:207-624-8426
PRESS RELEASE
SUPERINTENDENT OF INSURANCE SCHEDULES PRE-HEARING CONFERENCE
ON PROPOSED BLUE CROSS ACQUISITION
Augusta, Maine: Maine Superintendent of Insurance Alessandro A. Iuppa has announced that the first pre-hearing conference to prepare for public hearings on the Blue Cross/Anthem conversion and merger will be held at 9:00 a.m. on Friday, October 29th at the Sheraton Tara Hotel, 363 Maine Mall Road in South Portland.
The purpose of the pre-hearing is to deal with procedural and administrative issues in advance the public hearings. On September 15, Blue Cross submitted a filing convert from a non-profit organization to a stock company. Simultaneously, Insurance Companies, Inc. of Indiana filed a plan to acquire the if the State approves Blue Cross’ conversion plan to a stock .
The pre-hearing conference October 29 will allow Superintendent Iuppa and the attorneys for Blue and Anthem to discuss and develop specific procedures concerning and requirements for filing additional information. Although pre-hearing conference is open to the public, no testimony on the of the proposals will be presented. The public will have an opportunity speak informally or to testify at the public hearings and not at the -hearing conference. Members of the public do not need to attend the -hearing conference in order to testify at the public hearings. The plans to hold public hearings in several locations throughout State. The public hearings are expected to take place in the first of 2000.
For further information on proposed transaction, the review process, or other consumer information, visit the Bureau’s Web-site at: MaineInsuranceReg.org or contact the Bureau of Insurance at (800) 300-5000.
The Bureau of Insurance is of the Department of Professional and Financial Regulation which sound ethical business practices through high quality, impartial efficient regulation of insurers, financial institutions and numerous and occupations for the purpose of protecting the citizens Maine.