Darien, Ill.-based online life insurer Quotesmith.com Inc. announced that it has received a subpoena requesting documents and seeking information from the Illinois Division of Insurance. The company said it intends to cooperate fully with the department.
“Quotesmith.com conducts its insurance brokerage business with high standards of ethical behavior,” CEO Rober Bland said in a statement.
“We have no customer complaints on hand and have no knowledge of any
wrongdoing by any of our employees,” he added. “We generate revenues from the receipt of industry-standard commissions whenever a consumer elects to purchase their insurance through us. Our business model represents the antithesis of the kind of wrongdoing that has been described in the media lately regarding the sales practices of other insurance brokers.”
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