CEO Edward Hanway

Health insurer Cigna Corp.'s former CEO H. Edward Hanway earned $14.6 million in 2009, his last year on the job. That was up 28 percent from 2008, as the company awarded him larger bonuses, according to an Associated Press calculation of figures disclosed in a regulatory filing.Meanwhile, David Cordani, who was promoted to CEO from chief operating officer to replace the retiring Hanway on Dec. 25, earned slightly less in 2009 than the year before.Hanway last year received a performance-based...Read Full Story

A HEALTH-CARE TRAP FOR SMALL BUSINESS When it comes to health insurance, entrepreneurs are in a state of sticker shock. And it's not just the initial quote that has the power to astound. It's the wild premium increase that can accompany a single employee's unfortunate diagnosis. Wendell Potter, the retired director of media relations for Cigna, says those increases aren't always intended merely to cover insurers' costs. Instead, he says, they're sometimes levied with the aim of forcing a...Read Full Story

Managed care company Cigna Corp. announced Friday that board member Robert H. Campbell will retire at the end of the year.Campbell, 71, has served on Philadelphia-based Cigna's board since 1992, and the insurer said his retirement was not due to any disagreement with the company or management. Campbell is retiring "to devote more time to other professional and personal commitments," a company statement said.Campbell's term was scheduled to end next April.Cigna also announced earlier this year...Read Full Story

Cigna Corp. Chief Executive H. Edward Hanway received 50 percent less compensation in 2008 on a plunge in his performance bonus as the health insurer's stock plummeted.Hanway received overall compensation worth $11.4 million, down from $22.7 million in 2007. His salary rose 3 percent to just over $1.1 million, but his performance bonus plunged 63 percent to just under $6.7 million. That bonus is actually for work performed between 2005 and 2007 under a three-year, or long-term incentive...Read Full Story

BOSTON (Reuters) - A veteran Cigna Corp manager sued the health insurer on Thursday, saying it unfairly blocks female employees from promotions and higher-paying jobs.The lawsuit, filed in U.S. District Court in Boston, seeks $100 million in damages and asks for class-action status.Bretta Karp, a 14-year-veteran of Cigna, charged in court papers the company last year denied her a promotion because she "came across as too aggressive" in an interview and went on to take away her largest...Read Full Story