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April 27, 2015 4:03 AM ET

Insurance

Company Overview of Time Insurance Company

Company Overview

Time Insurance Company provides health insurance products and services in Wisconsin. It offers health insurance for individuals and families, and businesses with 50 or fewer employees; temporary health insurance for 30-185 days; and renewable and individual health insurance for college students. The company was formerly known as Fortis Insurance Company and changed its name to Time Insurance Company in September 2005. The company was founded in 1892 and is based in Milwaukee, Wisconsin. Time Insurance Company operates as a subsidiary of Interfinancial Inc.

501 West Michigan Street

Milwaukee, WI 53203-2706

United States

Founded in 1892

Phone:

414-271-3011

Fax:

414-224-0472

Key Executives for Time Insurance Company

President
Age: 59
Compensation as of Fiscal Year 2014.

Time Insurance Company Key Developments

Mo. Insurance Department Announces Settlement with Time Insurance Company, Union Security Insurance Co. and John Alden Life Insurance Co

The Missouri Department of Insurance on Aug. 8 announced a settlement with Time Insurance Co., Union Security Insurance Co. and John Alden Life Insurance Co. related to their coverage of health benefits required by state law. State insurance regulators allege that the three companies that issue policies for Assurant Health violated Missouri law in how claims were being handled. The department said a market conduct examination found several instances where the companies denied claims for childhood immunizations, colon cancer screenings, mammograms, Pap smears and prostate screenings. In some cases, claim payments were denied or reduced because the companies imposed waiting periods, copayments or deductibles for these preventive care procedures, according to the department. Under the settlement, the companies will pay a $500,000 fine to the Missouri State School Fund and donate $500,000 to a charitable or nonprofit organization in the state. In addition, the companies agreed to provide childhood immunizations to residents without copayments, coinsurance, deductibles or waiting periods and to review all denied claims for those preventative care procedures, paying those that should have been paid, along with interest. The companies also agreed to modify their processes to comply with state law.

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