rescission

(Newser) - Insurance giant Fortis used every underhanded method it could to purge HIV-positive clients from its books, according to newly released records. Documents reveal that the company—now known as Assurant—used an algorithm to target every policyholder diagnosed with HIV for a fraud investigation and canceled their policies on the...

(Newser) - One of the most poignant passages from Barack Obama's recent address to Congress concerned an Illinois cancer patient who died, the president said, because his insurer dropped him after discovering an unreported gallstone. In fact, reports the Wall Street Journal, Otto Raddatz did have his coverage rescinded in 2005—but...

(Newser) - Insurance companies are being hit from all sides on at least one issue—in industry jargon, it's called rescission. In the real world, it's when insurers cancel coverage because they say a customer has lied to them about a preexisting condition or some other issue. It's not clear how many...