Five Safeco subsidiaries have been fined more than $430,000 in total for several violations of Connecticut’s insurance law. Among the violations were the company’s use of unlicensed casualty adjusters.

A release from the Connecticut Department of Insurance (CDOI) stated that while the violations varied by company, there were consistent violations related to instances of unlicensed adjusters and agents not appointed. Connecticut requires insurance companies formally appoint and register with the state all agents who sell insurance products on their behalf. When combined, Safeco and its subsidiaries had 55 instances where agents were not appointed and 93 instances where individuals acted as casualty adjusters without being licensed in accordance with Connecticut law.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.