Oxford Health Insurance Service Providers

Oxford Networks to invest $5M in Brunswick data security startup

BRUNSWICK — Two Maine companies — one an established telecommunications firm, the other a data security startup — have teamed up on an innovative deal that will enhance their, and the state’s, technology future.

Oxford Networks of Lewiston and Brunswick-based Resilient Tier V said the $5 million deal will speed up the build-out of the startup’s data center at the former Brunswick Naval Air Station , while expanding the offerings the telecom provider can make to its 12,000 existing customers — and to future ones.

Oxford and its investors have entered into an agreement with Resilient to invest $5 million to move the companies’ plans forward, explained Craig Gunderson, Oxford CEO. “We’re tremendously excited about it. We see what it does for Maine, what it does for Oxford, what it does for our customers.

“It’s a catalyst for Maine being more and more recognized as a real technology player,” he added.

Oxford Networks will be Resilient’s second-largest shareholder. Overall, said Charles Largay, president and chief scientist at Resilient, startup costs for the company are more than $12 million. Aside from the Oxford funding, investment comes from several partners and from Largay and his wife, Maureen Largay, Resilient’s CEO and primary owner.

The Largays opened Resilient’s doors this spring, taking advantage of two ultra-secure buildings on the former Navy base for their plans to build a secure data storage and disaster recovery business.

“We have this very secure data center, our customers are out there at the edge doing whatever they’re doing, and we need to connect securely,” said Maureen Largay. “That’s key — being able to have a network that we can really maintain, control, understand. And Oxford’s got an awesome offering.”

Gunderson said Oxford’s customers have been pushing the company for more services beyond providing the telecommunications fiber network. The customers were looking for data center services, cloud computing services — even disaster recovery solutions, which would allow a company to begin operations quickly after anything from a fire to a flood.

Anthem's Proposed 12.9 Percent Increase Rejected By State ...

Anthem Blue Cross and Blue Shield in Connecticut  proposed a 12.9 percent price increase to some of its health plans, which was rejected last week by state regulators.

The Connecticut Insurance Department declined the double-digit rate hike, but it did approve a 3.9 percent increase for Anthem's individual policies which has 25,560 policyholders. The rate increase takes effect next year.

It's a block of business that brought in $153.9 million in premiums last year and spent $115.9 million on claims.

"We are currently reviewing the disposition from the Connecticut Insurance Department," said Anthem spokeswoman Sarah Yeager. "We share our members concerns over the rising cost of health care. The increasing demand for medical services, including the use of new, expensive prescription drugs, and demand for advanced technologies are driving up the cost of health care at an unprecedented rate."

The department's actuary who reviewed Anthem's filing, Paul Lombardo, said in his decision that 3.9 percent is "reasonable in relationship to the benefits being offered, and is, neither excessive, inadequate or unfairly discriminatory," giving reference to Connecticut state guidelines for health rates.

The insurer and regulators differed in their opinions about the degree to which new people coming into Anthem's individual health plans will offset the higher claims generally associated with existing members as they stay with a health plan. More expensive claims among people who stay in a health plan compared with new members is called "underwriting wear-off" in the industry.

"We don't believe that historic enrollment patterns will change enough to warrant an adjustment to rates for underwriting wear-off," Lombardo said.

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