PIERRE, S.D. (AP) — South Dakota’s Division of Insurance has levied a $325,000 fine against a Nebraska-based company for violating South Dakota laws and regulations.
Insurance Division officials say it is the largest such fine in South Dakota history. It comes after three-year investigation of Omaha-based Ability Insurance Co. Officials say negotiating an agreement on the penalty took a long time because of the nature of the violations and ownership changes within the company. Officials say state law requires the investigation report to remain confidential for a month. The Argus Leader newspaper has reported that Ability allegedly wrongfully denied claims for some long-term care policyholders. Ability has been sued in at least five states. The company says it has enacted reforms that should put an end to the lawsuits.
Comment Disclaimer: The views and opinions expressed in the comments section of DakotaRadioGroup.com are solely those of the comment author and do not necessarily reflect the views and opinions held by DakotaRadioGroup.com.