Turns out customers of Jos. A. Bank really liked the “buy one, get three free” company. They really did.
The settlement, approved this week by the North Dakota Department of Insurance, requires parent company Noridian Mutual Insurance Co. to immediately pay Maryland $20 million and $5 million annually over the next five years. Noridian Mutual Insurance does business as Blue Cross Blue Shield of North Dakota, which is North Dakota’s largest health insurer.