Class Claims Prudential Cheated on CHIP

NEWARK (CN) – A class action accuses Prudential Insurance of failing to disclose a “death spiral” in its Comprehensive Health Insurance Policy, which it sold from 1973 through 1981. When Prudential stopped selling the CHIP policies, the class claims, it ensured that “premiums would increase to exorbitant levels,” and if policyholders were thereby forced to drop their coverage, they “might not be able to secure new health coverage for their pre-existing conditions.”     The class is represented by Bruce Nagel with Nagel Rice.