A Nebraska-based insurance company that is being fined $325,000 for violating South Dakota laws and regulations says it has taken steps to ensure it is in full compliance.
Omaha-based Ability Insurance says in a statement that the company remains committed to serving its customers and that the fine won’t affect its ability to pay policyholder claims.
The Argus Leader newspaper reported that Ability was accused of wrongfully denying claims for some long-term care policyholders.
The fine levied by South Dakota’s Division of Insurance was the largest such fine in state history. It came after a three-year investigation. State officials say claims denied by Ability have since been reprocessed.
Topics Carriers
Was this article valuable?
Here are more articles you may enjoy.
The $10 Trillion Fight: Modeling a US-China War Over Taiwan 
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Preparing for an AI Native Future 
Kansas Man Sentenced for Insurance Fraud, Forgery 
