Several other states have also sanctioned Salvasen Holdings, including Texas and Michigan.
On Monday, the Mississippi Insurance Department (MID) announced they have issued a Cease and Desist Order to Salvasen Holdings and parent company Triada Assurance Holdings, LLC.
According to MID, the insurance agency has violated Mississippi law by marketing and selling health insurance without having an insurance license.
“Additionally, Salvasen Holdings marketed insurance plans falsely, claiming they were major medical policies when they were in fact limited plans,” MID said.
Commissioner of Insurance Mike Chaney said MID received a complaint from a customer who thought they bought a major medical health insurance plan from Salvasen Holdings.
“Salvasen failed to pay claims under that policy, which turned out to be a limited plan,” Commissioner Chaney said.
Several other states have also sanctioned Salvasen Holdings, including Texas and Michigan.
“The issue is still under investigation by the MID. Pending a final decision by Comm. Chaney, Salvasen Holdings may not collect or receive premiums or conduct any new or existing business,” MID stated.
Anyone with questions about this may contact the Investigations Division at MID by calling
601-359-3569.
Anne Summerhays
