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Commissioner Stewart fines insurers more than $83,000 for market misconduct

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The Delaware Department of Insurance now publishes fines imposed by Commissioner Karen Weldin Stewart against insurance companies who violate state insurance regulations.

Commissioner Stewart fined the following companies a total of $83,300 during the first quarter of 2016:

Name                                                   Fine                             Date

21st Century                                       $27,500.00                  1/21/2016

Teachers Insurance Co.                       $25,000.00                  2/04/2016

Homesite Insurance Co.                      $15,000.00                  3/17/2016

Jackson National Life Ins. Co.           $3,800.00                    3/22/2016

Progressive Direct                               $5,000.00                    3/03/2016

Progressive Northern                          $7,000.00                    3/04/2016

The Department previously announced that penalties assessed against Aetna and Highmark Blue Cross Blue Shield Delaware earlier in January totaled $483,000.

Fines generally result from a “market conduct” examination of a company’s practices performed by the Department, or from DOI’s participation in a multi-state examination conducted by several jurisdictions.  Details of the companies’ particular violations may be found in the Stipulation and Consent Order entered into by the parties and listed under “Consent Decrees” in the Enforcement Actions & Fines section of the Department website at http://www.delawareinsurance.gov/departments/documents/enforcement/actions.shtml

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