market conduct examinations News

North Dakota Fines Blue Cross Blue Shield $125K After Market Conduct Exam

A yearlong market conduct exam of Blue Cross Blue Shield of North Dakota (BCBSND) has resulted in a $125,000 fine against the company, the state’s insurance department reported. According to the North Dakota Department of Insurance, the examination investigated and …

California Department of Insurance Says it Recovered $81.3M for Consumers

Insurance Commissioner Dave Jones announced on Thursday that the California Department of Insurance recovered more than $81.3 million for consumers during 2017 through consumer complaint investigations and market conduct examinations of insurance companies. Last year the department’s consumer hotline reportedly …

Connecticut Recovered $6M for Policyholders, Taxpayers in 2015

Connecticut Insurance Commissioner Katharine L. Wade announced that the Connecticut Insurance Department recovered approximately $6 million for policyholders and taxpayers in 2015, helping individuals and families with their claims and complaints. The Department’s Consumer Affairs Unit (CAU) fielded more than …

Conn. Regulators Recovered $6.3M for Policyholders, Taxpayers in 2014

The Connecticut Insurance Department recovered approximately $6.3 million for policyholders and taxpayers in 2014, the state’s Deputy Insurance Commissioner Anne Melissa Dowling announced today. “Connecticut consumers rely on insurance to provide peace of mind for their homes, families and financial …

Maine Bureau of Insurance Recovered $3.4M for Consumers in 2014

Maine Insurance Superintendent Eric Cioppa said the state Bureau of Insurance recovered nearly $3.4 million on behalf of Maine consumers and businesses in 2014. More than $2.4 million was recovered for consumers by the Bureau’s Consumer Health Care Division, and …

Penn. Insurance Dept.: 2014 Was a Banner Year for Consumer Protection

The Pennsylvania Insurance Department said 2014 was a banner year for consumer protection. The department said its Office of Market Regulation concluded 2014 by collecting more than $4 million in penalties and fines and recovering approximately $295 million in restitution …

Top 10 Market Conduct Issues for P/C Insurers

A review of state insurance regulators’ examinations of U.S. property/casualty insurers shows that claims-handling, underwriting and producer requirements continue to be the top criticisms. According to compliance and risk management firm Wolters Kluwer Financial Services, the data compiled for its …

Delaware Insurance Dept. Recovered $941K for Consumers During First Half of 2013

The Delaware insurance department announced that a total of $940,995 has been recovered for the state’s consumers during the first six months of 2013. The department announced on Aug. 16 that its consumer services division has recovered $446,697 for Delaware …

Penn. Insurance Department Collects $343K in Penalties, Fines in Q2

The Pennsylvania Insurance Department collected more than $343,000 in penalties and fines, as well as more than $73,000 in restitution during the 2013 second quarter, according to the department’s announcement this week. In total, 37 enforcement actions and market conduct …

Penn. Insurance Department Collected Over $1.3M in Penalties, Restitution in Q1

The Pennsylvania Insurance Department said regulators collected more than $1 million in penalties and fines, as well as more than $300,000 in restitution in the first quarter of 2013. In total, 37 enforcement actions and market conduct examinations were closed …