Delaware News

Commissioner Stewart Fines Insurers More Than $83,000 for Market Misconduct

Insurance Commissioner | News | Date Posted: Thursday, April 21, 2016


Picture of the Seal of the Delaware State Insurance Commissioner

DOI Will Publish Names of Companies Who Violate State Insurance Regulations

​Dover, DE – The Delaware Department of Insurance now publishes fines imposed by Commissioner Karen Weldin Stewart against insurance companies who violate state insurance regulations.

Commissioner Stewart fined the following companies a total of $83,300 during the first quarter of 2016:

Name                                                        Fine                              Date

21st Century                                          $27,500.00                 1/21/2016

Teachers Insurance Co.                       $25,000.00                  2/04/2016

Homesite Insurance Co.                      $15,000.00                  3/17/2016

Jackson National Life Ins. Co.                $3,800.00                  3/22/2016

Progressive Direct                                  $5,000.00                  3/03/2016

Progressive Northern                            $7,000.00                  3/04/2016

The Department previously announced that penalties assessed against Aetna and Highmark Blue Cross Blue Shield Delaware earlier in January totaled $483,000.

Fines generally result from a “market conduct” examination of a company’s practices performed by the Department, or from DOI’s participation in a multi-state examination conducted by several jurisdictions.  Details of the companies’ particular violations may be found in the Stipulation and Consent Order entered into by the parties and listed under “Consent Decrees” in the Enforcement Actions & Fines section of the Department website at http://www.delawareinsurance.gov/departments/documents/enforcement/actions.shtml.

Click on the PDF link in the right-hand column to read the consent decree in its entirety.

For more information, call the Department at 1-800-282-8611.

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Commissioner Stewart Fines Insurers More Than $83,000 for Market Misconduct

Insurance Commissioner | News | Date Posted: Thursday, April 21, 2016


Picture of the Seal of the Delaware State Insurance Commissioner

DOI Will Publish Names of Companies Who Violate State Insurance Regulations

​Dover, DE – The Delaware Department of Insurance now publishes fines imposed by Commissioner Karen Weldin Stewart against insurance companies who violate state insurance regulations.

Commissioner Stewart fined the following companies a total of $83,300 during the first quarter of 2016:

Name                                                        Fine                              Date

21st Century                                          $27,500.00                 1/21/2016

Teachers Insurance Co.                       $25,000.00                  2/04/2016

Homesite Insurance Co.                      $15,000.00                  3/17/2016

Jackson National Life Ins. Co.                $3,800.00                  3/22/2016

Progressive Direct                                  $5,000.00                  3/03/2016

Progressive Northern                            $7,000.00                  3/04/2016

The Department previously announced that penalties assessed against Aetna and Highmark Blue Cross Blue Shield Delaware earlier in January totaled $483,000.

Fines generally result from a “market conduct” examination of a company’s practices performed by the Department, or from DOI’s participation in a multi-state examination conducted by several jurisdictions.  Details of the companies’ particular violations may be found in the Stipulation and Consent Order entered into by the parties and listed under “Consent Decrees” in the Enforcement Actions & Fines section of the Department website at http://www.delawareinsurance.gov/departments/documents/enforcement/actions.shtml.

Click on the PDF link in the right-hand column to read the consent decree in its entirety.

For more information, call the Department at 1-800-282-8611.

###

image_printPrint

Related Topics:  , ,


Graphic that represents delaware news on a mobile phone

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.