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Experience

National Settlement of Allegations of Steering

Country's Eighth Largest Insurance Broker/Agency

Represented the country's eighth largest insurance broker/agency in reaching a national settlement of allegations of steering and other improprieties with the Connecticut Attorney General and Insurance Commissioner. Under the terms of the deal hailed as a landmark for the insurance industry, client will pay $30,000,000 into a settlement fund to benefit its policyholders and a $250,000 fine. The company also agreed to adopt a variety of business reforms. Unlike four other insurance intermediaries that have resolved steering allegations, the client is able to keep earning contingent income on its agency business.
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