The raises for the 17 outside directors came at the same time the nonprofit insurer lost money on its operations and cut the pay of its top executives.
The same year, Excellus increased health insurance rates on average 8 percent. For 2010, the insurer raised its rates an average of 8.8 percent. Both years, some customers saw substantially higher rate increases.
The board meets five times a year. Directors attend these meetings over a two-day period along with committee meetings, according to Excellus spokeswoman Elizabeth Martin. There are more than 40 committee and ad hoc committee meetings annually.
For his work chairing the US Federal Reserve, Alan Greenspan, who has died aged 100, was...
Soaring gasoline prices, triggered by the U.S. war with Iran, have pushed inflation to its highest...
Before Sayuri Tsuchitani became an entrepreneur, she spent two decades on her feet: cutting, coloring and...
