Insurance Commissioner Fines Hartford Life and Annuity Insurance Company $91,500
|Targeted News Service|
The settlement agreement is the result of a market conduct examination undertaken by the
The examination was to review and update the status of issues referenced in the Market Conduct Report of
* Failure to use an Adverse Underwriting Decision (AUD) Notice that was filed with and approved by the
* Failure to evidence a written notification of replacement sent to the replaced insurer,
* And accepting business from producers who were not properly appointed with the company.
Hartford Life and Annuity has submitted corrective action plans to address the concerns referenced above. NCDOI is working with the company on self-critical analyses over an extended period of time to confirm the company's corrective action plan is properly implemented.
A copy of the examination report is available to the public on the NCDOI website, here: Hartford Life and Annuity Insurance Company Market Conduct Examination Report 2012.( http://www.ncdoi.com/MR/Documents/Reports/Life%20and%20Health%20Companies/2012/Hartford%20Life%20and%20Annuity.TargComp.2012.pdf)
TNS hc11-121201-JF78-4124339 StaffFurigay
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