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PacifiCare ordered to not pay $120 million in dividends
Los Angeles Times

California Insurance Commissioner Steve Poizner has ratcheted up the pressure in a long-running dispute with Cypress-based PacifiCare.

Poizner has ordered the health insurer not to pay $120 million in dividends to two subsidiaries of its parent company, saying the money may be needed to cover possible penalties in an administrative case brought by the Department of Insurance.