New York, NY: A $90 million bad faith insurance class action settlement has been approved by a federal judge payable to former Anthem Inc, policyholders.
The class of plaintiffs for the lawsuit includes 700,000 claimants in Indiana, Ohio, Kentucky and Connecticut, who alleged they were underpaid by Anthem when it converted in 2001 from policyholder ownership into publicly traded company WellPoint Inc. These claimants will share in the settlement.
Allegations in the Anthem Insurance class action lawsuit state that the plaintiffs were underpaid in a range from $227 million to $448 million.
In addition, the lead plaintiffs in the lawsuit, Mary Ormond and Kevin Heekin, have been granted a “case contribution” award by the judge.