Some states hit insurance producers with a lot more fines than others, and some are more likely to impose a fine than to get a producer to pay any ill-gotten money back to the customers.
The National Association of Insurance Commissioners gives a little information about trends in producer fines in volume one of its new 2016 Insurance Department Resources Report.
The NAIC is a Kansas City, Missouri-based group for insurance departments. It creates the resources report to show how many people and how much cash each state devote to regulating insurance, and how much insurance compliance activity each state handles.
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Allison Bell
Allison Bell, ThinkAdvisor's insurance editor, previously was LifeHealthPro's health insurance editor. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached at [email protected] or on Twitter at @Think_Allison.
