The Massachusetts Division of Insurance recently published a list of enforcement actions taken against producer licensees for the 2013 third quarter. The DOI’s special investigations unit examined a number of alleged violations and reached settlements in nine cases and levied fines totaling $11,750. The following are individual allegations and the settlement results.
• Four producers were investigated for alleged misrepresentations on license applications, resulting in settlement agreements with regulators. Individual fine amounts ranged from $250 to $1,000.
• One case was investigated for an alleged misrepresentation in the sale of insurance, resulting in a settlement agreement with regulators and a $5,000 fine.
• Two cases involving allegedly placing or renewing policies while unlicensed reached settlement agreements with regulators, with one producer paying a $4,000 fine.
• One non-resident producer who was unlicensed in home state and allegedly failed to report administrative actions received a permanent license revocation.
• One case with an alleged violation of privacy regulation reached a settlement with regulators with no fine.
Topics Massachusetts
Was this article valuable?
Here are more articles you may enjoy.
Amazon Seen as Shielded From Liability for Miami Cargo Plane Crash 
Washington Commanders Player Scores Workers’ Compensation Win 
UnitedHealth Sells Interest in Florida WellMed Clinics to TPG 
Lockton Named in NBA Investigation Into Clippers Salary Cap Circumvention 
