Southern Cross tries to contain rising premiums after posting $1.1 million loss

Mon, 15 Sep 2014

(Adds CEO comment throughout) By Fiona Rotherham Sept. 15 (BusinessDesk) - Southern Cross Medical Care Society, the country's largest medical and health insurer, is planning to contain premium hikes this year through signing up more affiliated providers, cutting overheads through pushing claims online, and getting serious about fraud detection. The Auckland-based insurer recorded a $1.1 million annual loss after higher than expected claims from members in the last four months of the June 2014 financial year, particularly for orthopaedi...

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