Delaware News

Commissioner Stewart Fines Three Insurers $114,500 for Market Misconduct

Insurance Commissioner | News | Date Posted: Wednesday, July 13, 2016



Dover, DE-Commissioner Karen Weldin Stewart fined the following companies a total of $114,500 during the second quarter of 2016 for violations of state insurance laws and regulations:

 

Name                                                                       Fine                                           Date
Bankers Life & Casualty Company                   $55,500.00                             4/27/2016
National Health Insurance Company               $25,000.00                             5/11/2016
USAA                                                                $34,000.00                             5/24/2016

The fines result from a market conduct examination of each company’s practices performed by the Delaware Department of Insurance. 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:
http://www.delawareinsurance.gov/departments/documents/enforcement/actions.shtml.
Click on the PDF link in the right-hand column to read each consent decree in its entirety. The market conduct examination report which provides the basis for the fines can be accessed by clicking on the company’s name in the left-hand column.
For more information, call the Department at 1-800-282-8611.
###

For more information please contact Jerry Grant at 302-674-7303

Delaware Department of Insurance | www.delawareinsurance.gov | Main Office Phone: 302-674-7300

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Commissioner Stewart Fines Three Insurers $114,500 for Market Misconduct

Insurance Commissioner | News | Date Posted: Wednesday, July 13, 2016



Dover, DE-Commissioner Karen Weldin Stewart fined the following companies a total of $114,500 during the second quarter of 2016 for violations of state insurance laws and regulations:

 

Name                                                                       Fine                                           Date
Bankers Life & Casualty Company                   $55,500.00                             4/27/2016
National Health Insurance Company               $25,000.00                             5/11/2016
USAA                                                                $34,000.00                             5/24/2016

The fines result from a market conduct examination of each company’s practices performed by the Delaware Department of Insurance. 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:
http://www.delawareinsurance.gov/departments/documents/enforcement/actions.shtml.
Click on the PDF link in the right-hand column to read each consent decree in its entirety. The market conduct examination report which provides the basis for the fines can be accessed by clicking on the company’s name in the left-hand column.
For more information, call the Department at 1-800-282-8611.
###

For more information please contact Jerry Grant at 302-674-7303

Delaware Department of Insurance | www.delawareinsurance.gov | Main Office Phone: 302-674-7300

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.