Zurich American Insurance Co. has paid a $250,000 fine to the state of New York for charging unfiled rates on its errors and omissions policy for veterinarians, according to state regulators.
The New York Insurance Department said Zurich entered into a stipulation agreement over the fine on Christmas Eve last year.
That fine, which was listed in the department’s newest disciplinary actions report, is the largest recent fine levied against a property casualty insurer.
Source: New York Insurance Department
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