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New York's Regulatory Failure and an Insurance CO-OP Collapse
Empire Center for Public Policy 
Dec. 24, 2015
"Health Republic's growing financial troubles should have been no surprise to insurance regulators at the Department of Financial Services (DFS). The company's filings to DFS showed steep operating losses, mounting debt, unanticipated costs and heavy reliance on a federal risk-management subsidy that failed to materialize. Yet the department did not intervene to order an increase in Health Republic's premiums, as other states did in similar situations. To the contrary, DFS repeatedly cut the company's premiums below what the insurer had requested, aggravating the co-op's losses."
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