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February 06, 2016 3:38 AM ET

Insurance

Company Overview of CareFirst, Inc.

Company Overview

CareFirst, Inc. provides health insurance and managed care products and services primarily through indemnity health insurance, health maintenance organization coverage, and health benefits administration. The company’s products and services also include preferred provider and point of service networks, fee-for-service arrangements, third-party administrator services, and other managed care services. It offers its products and services to individuals, businesses, and governmental agencies primarily in the State of Maryland, as well as in the Washington, D.C. metropolitan area. The company was founded in 1934 and is headquartered in Owings Mills, Maryland.

10455 Mill Run Circle

Owings Mills, MD 21117-4208

United States

Founded in 1934

Phone:

410-581-3000

Fax:

410-998-5576

Key Executives for CareFirst, Inc.

Chief Executive Officer and President
Chief Financial Officer and Executive Vice President
Executive Vice President, Corporate Secretary and General Counsel
Executive Vice President of Corporate Development and Executive Vice President of Medical Systems
Age: 64
Chief Marketing Officer and Executive Vice President
Age: 63
Compensation as of Fiscal Year 2015.

CareFirst, Inc. Key Developments

CareFirst, Incorporated and CareFirst of Maryland Elects Donald M. Parsons, Jr. to the Board of Directors

Community Bank of the Chesapeake announced that Donald M. Parsons, Jr., Senior Vice President and Senior Lender of Community Bank of the Chesapeake has been elected to the Board of Directors of CareFirst, Incorporated and CareFirst of Maryland. Mr. Parsons will sit on the Finance and Investment Committee and the Audit and Compliance Committee. Mr. Parsons has been dedicated to the Southern Maryland Community for over 17 years serving on numerous boards and committees. He is the past Chairman of the Board of Calvert Memorial Hospital, the College of Southern Maryland Foundation and past President of Habitat for Humanity.

CareFirst Inc. Faces Class-Action lawsuit over Data Breach

CareFirst Inc. and CareFirst BlueCross BlueShield have now been hit with a proposed class-action lawsuit over the data breach. The lawsuit, filed in U.S. District Court in Baltimore last week, alleges the health insurance company was negligent when it failed to secure computer hardware that stored CareFirst customers personal information, including names, birth dates, email addresses and subscriber identification numbers. Security lapses the lawsuit against CareFirst alleges the company knew about its own security problems since 2014, when a security consulting company discovered an attempted data breach. But CareFirst failed to correct its lapses in security, leading to the hack in May 2015.

CareFirst BlueCross BlueShield Names Brian Pieninck as New Executive Vice President

CareFirst BlueCross BlueShield named Brian Pieninck as its new Executive Vice President overseeing the Large Group Strategic Business Unit. Pieninck, who joined CareFirst last month, will be responsible for the operation, service and sales of CareFirst's large group accounts. During the past 18 years, Pieninck held a variety of leadership positions with Aetna, most recently serving as President of America's for Aetna International, a wholly owned subsidiary of Aetna. In that role, he was responsible for the company's business interests and strategic expansion in North, Central and South America, as well as the Caribbean.

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