Foremost ‘Surprised’ by $230K Conn. Fine

December 20, 2007

Foremost Insurance Group has paid a $230,000 fine to the state of Connecticut for failing to ensure some agents who sold its products in the state were appointed to do so.

The fine, which was the maximum possible, was among the largest ever levied by the Connecticut Insurance Department.

Foremost, in a written statement, said it was “surprised and disappointed by the amount of the fine,” given that no harm to consumers was alleged by the state.

The fine came after the state found that some staff members in the offices of Foremost-appointed agents were writing business for the company, even though they held no appointments with Foremost.

Foremost said it would take steps to ensure the problem would not happen again.

Was this article valuable?

Here are more articles you may enjoy.