SD Fines Nebraska-Based Insurance Company

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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.


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