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1992 ANNUAL MEETING ADDRESSES BLUE CROSS AND BLUE SHIELD OF FLORIDA'S FINANCIAL STRENGTH

 1992 ANNUAL MEETING ADDRESSES BLUE CROSS AND BLUE SHIELD
 OF FLORIDA'S FINANCIAL STRENGTH
 JACKSONVILLE, Fla., Sept. 16 /PRNewswire/ -- Blue Cross and Blue Shield of Florida is strong and growing, and continued positive financial results assure that its customers are protected. This was the key message presented by William E. Flaherty, president and chief executive officer of Blue Cross and Blue Shield of Florida, to policyholders attending the company's annual meeting on Wednesday, Sept. 16, 1992, at the University of North Florida.
 "In the aftermath of Hurricane Andrew, our strong provider and hospital network continues to be able to accommodate our customers' needs, even in storm-ravaged South Dade County," observed Flaherty. "Certainly the storm will have some impact on our business. But fortunately, we've planned for contingencies."
 Flaherty noted that as of June 30, 1992, Blue Cross and Blue Shield of Florida had $352.6 million in policyholders' equity, which is equal to 2.6 months of claims and operating expense. Policyholders' equity assures that the company can meet its obligations during times of economic instability and when claims expenses are higher than anticipated, which is probable in the wake of Hurricane Andrew. The primary reasons Blue Cross and Blue Shield of Florida was able to strengthen policyholders' equity in 1991 include: strong performance by the company's health maintenance organization (HMO) and preferred provider organization (PPO) programs, and good return on investments.
 In discussing the 1991 performance of Blue Cross and Blue Shield of Florida, Flaherty disclosed that the company had added 40,000 new contracts and increased corporate revenue by 12 percent to $1.69 billion.
 -0- 9/16/92
 /CONTACT: Marianne Elden, 904-791-8075, or Partick McCabe, 904-791-6123, both of Blue Cross and Blue Shield of Florida/ CO: Blue Cross and Blue Shield of Florida ST: Florida IN: INS SU:


JB-JJ -- FL014 -- 0148 09/16/92 12:58 EDT
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Publication:PR Newswire
Date:Sep 16, 1992
Words:309
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