Connecticut Insurance Commissioner Thomas R. Sullivan has fined American Modern Home Insurance Co., headquartered in Ohio, $170,000 for violations to state law.
Connecticut state law requires individuals sellingl insurance products within the state to be licensed. In addition to licensure, these individuals must be appointed by the company or companies they represent, which is also filed with the insurance department.
Connecticut officials said that a recent market conduct examination alleged that the company had 75 agents who were not appointed, and 11 individual agents who were not licensed to write business in the state . The company was notified of the violations and, according to Sullivan, quickly resolved the non-compliance.
Topics Connecticut
Was this article valuable?
Here are more articles you may enjoy.
Depreciation on ACV Is OK, Court Says in Knocking Down Class Action vs. Cincinnati 
Taylor Swift Sued for Trademark Infringement Over ‘Life of a Showgirl’ 
Public Adjuster Accused of Swiping $600,000 in Hurricane Ian Insurance Payments 
Florida Man Faked Brain Injury for Years in Attempt to Gain $6M in Insurance 
