Cigna: Difference between revisions
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Cigna was one of the insurance companies featured in the Michael Moore documentary "[[Sicko]]". |
Cigna was one of the insurance companies featured in the Michael Moore documentary "[[Sicko]]". |
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==Ethics== |
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{{main|Nataline Sarkisyan}} |
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In December 2007, Cigna was criticized by hundreds of doctors, nurses, and other medical professionals after the company refused to pay for a liver transplant of a California teenage girl, [[Nataline Sarkisyan]], justifying their refusal to pay by claiming that the procedure was "too risky", even though there was a liver ready and waiting to be transplanted and doctors estimated she had a 65% chance of surviving. [http://www.knbc.com/news/14937725/detail.html] In response to much protest and public scrutiny, Cigna finally reversed its decision, but only too late to save Ms. Sarkisyan who died awaiting the transplant. [http://abcnews.go.com/GMA/CancerPreventionAndTreatment/Story?id=4038257&page=1] Cigna notes that it had no financial stake in the decision to authorize the transpant because it merely administers the insurance plan of Mr. Sarkisyan's employer and would not bear the cost of any operation. However, Cigna was offering to pay for the transplant itself when made the exception to the policy.<ref name="WSJ">Vanessa Fuhrmans & Laura Meckler "A Medical Case Becomes Political" ''The Wall Street Journal'' 2008-01-07 p. A1</ref> |
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Even though [[Liver_transplant|liver transplants]] have been performed since 1963 and are a well accepted treatment option for end-stage liver disease and acute liver failure, Cigna defended its actions by claiming that there was insufficient data to show that a transplant for a patient in Sarkisyan's condition would be safe and effective.<ref name="WSJ"/> Lawyers for her family are exploring litigation against Cigna.<ref>http://cbs2.com/local/nataline.sarkisyan.Cigna.2.615167.html Retrieved 2008-01-07.</ref> |
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==Competitors== |
==Competitors== |
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Revision as of 14:42, 5 April 2008
| File:Cigna logo.jpg | |
| Company type | Public (NYSE: CI) |
|---|---|
| Industry | Health Care Plans |
| Founded | CG and INA merger in 1982 |
| Headquarters | Philadelphia, Pennsylvania, USA |
Key people | H. Edward Hanway, Chairman & CEO |
| Products | Group Disability, Life and Accident Insurance, and Disability and Workers' Compensation Case Management |
| Revenue |  $16.547 billion USD (2006) |
| $1.159 billion USD (2006) | |
| $1.155 billion USD (2006) | |
| Website | www.cigna.com |
Cigna Corporation (NYSE: CI) is a Philadelphia-based insurance company, the oldest stock insurance company in the United States. The Philadelphia headquarters are located in Two Liberty Place.
Cigna can trace its roots back to 1792, and the founding of the Insurance Company of North America (INA), the country's first marine insurer. Its first life insurance policy was issued two years later. In 1865, the Connecticut General Life Insurance Company (CG) was formed in Hartford. Nearly 120 years later, in 1982, CG and INA merged to form Cigna. In 1993 Cigna introduced its Tree of Life brand identity. In 1997, Cigna sold several of its staff model healthplans and the original Ross-Loos Medical Group which is the oldest health maintenance organization "HMO" in the United States to Birmingham, Alabama based MedPartners. In 1998, Cigna sold its individual life insurance business to Lincoln National Corporation, and the next year it sold its property and casualty insurance business to the ACE Limited, for $3.5B cash. In 2000, it sold its reinsurance business to Swiss Re. In 2004, it sold its pension business to Prudential Financial. Cigna's business segments include Cigna Healthcare, Cigna Group Life & Disability, and Cigna International. Ed Hanway is the CEO of Cigna and Mike Bell, the CFO. David Cordani leads the Healthcare segment as President.
Connecticut General was a major funder of the planned city of Columbia, Maryland.
Cigna was one of the insurance companies featured in the Michael Moore documentary "Sicko".
Competitors
- Aetna Inc. (AET)
- Humana Inc. (HUM)
- UnitedHealth Group Incorporated (UNH)
- WellPoint, Inc. (WLP)
References
External links
- Calif. Family Blames HMO in Girl's Death
- Transplant Decision Too Late, Teen Dies
- Cigna
- Video: The Controversy
