Oklahoma Insurance Commissioner Carroll Fisher warned employers in his state that they might have non-existent workers’ compensation policies, after learning that a series of unauthorized certificates were issued in the name of Realm National Insurance Co.
The Oklahoma Department of Insurance alleges that American Insurance Managers of Atlanta, Ga., or one of AIM’s sub producers, sold the certificates, which company officials believe were issued after October 1. Officials of Realm National’s parent were in negotiation with AIM at the time the policies were issued. Under the proposal, AIM would have represented Realm, but negotiations were never finalized and AIM was never authorized to issue certificates or policies on Realm’s behalf.
“This is an unfortunate and very serious situation since many people may think they have coverage but do not,” Fisher said.
State law requires employers to carry workers’ compensation coverage.
According to an AIM spokesperson, the Atlanta-based company writes a variety of workers’ comp/PEO coverages in 28 states. He said the Oklahoma situation has been cleared up, and that it had been a “tremendous misunderstanding.” However, insurance department spokesman, David Meuser, said as of the afternoon of Dec. 6 he had no knowledge of a resolution in the Realm/AIM case.
Persons with questions regarding their workers’ compensation certifications, should contact the company at (212) 269-6700, or the Oklahoma Insurance Department at (800) 522-0071.
Topics Commercial Lines Workers' Compensation Business Insurance Oklahoma
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