Connecticut’s Insurance Commissioner subpoenaed over possible conflict of interest in Anthem/Cigna merger: 5 takeaways

Katharine Wade, the commissioner of Connecticut’s Insurance Department, failed to provide financial information to the court in advance of Anthem’s proposed acquisition, The Connecticut Mirror reports

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The information would be used to determine if Ms. Wade would profit from the Anthem/Cigna merger.

Here’s what you should know.

1. The Citizens’ Ethics Advisory Board will begin a hearing later in the week to allow state attorneys to persuade Ms. Wade to turn over the finances.

2. Ms. Wade was employed by Cigna from 1992 to 2013, and Michael Wade, her husband, is still employed by Cigna as the associate chief counsel for litigation. Ms. Wade said she divested her stock in April 2014.

3. The board was unable to make a declaratory ruling earlier in the week because they were awaiting Ms. Wade’s papers.

4. The Insurance Department issued a statement saying Ms. Wade would comply with the request.

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