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.
Topics Connecticut
Was this article valuable?
Here are more articles you may enjoy.
US Senate Votes to Fund Most of Homeland Security After Shutdown Disrupts Airports 
Chubb Outlines Structure of $20B Gulf Reinsurance Facility, Now Including Liability Cover 
A Little Behind Schedule, But Execs Say Sypher Insurance is on Track for May Debut 
Jury Finds New Orleans Attorneys Guilty in Staged Auto Accident Scheme 
