15, 2012 - SAINT PAUL, MN – The Coalition Against Insurance Fraud estimates that fraud costs insurance carriers and consumers $80 billion a year. That averages out to about $950 per family in the United States. On October 16, Commissioner Mike Rothman will address this problem as the keynote speaker at the Minnesota Insurance Fraud Summit.
10, 2012 - Commerce Commissioner Mike Rothman recently announced the Minnesota Department of Commerce has taken action against the Oregon-based “Embassy of Heaven Church” and its leader Paul Revere for offering invalid auto insurance policies in Minnesota.
06, 2012 - The Minnesota Department of Commerce announced a multi-state settlement agreement between Allianz Life Insurance Company of North America and 43 states. Iowa acted as the managing lead state in the agreement and was assisted by Minnesota, Missouri, and Florida.
16, 2012 - When a loved one dies, the last thing surviving family members need in a time of grief are complex, confusing life insurance claim forms from their insurance company. That’s why the Minnesota Department of Commerce took action today against four national life insurance companies.
30, 2012 - A $2.5 million settlement was reached today between the State of Minnesota and Accretive Health, Inc. The settlement bars Accretive from conducting business in the state for two years and requires the company to provide restitution to Minnesota consumers who were adversely affected by the company’s alleged misconduct, amid other penalties.
26, 2012 - Formal charges have been filed in Kandiyohi County District Court on allegations that Spicer resident Todd Patrick Paffrath committed felony insurance fraud when a ring was stolen from his Willmar jewelry store last December. According to a formal investigation conducted by the Minnesota Department of Commerce’s Insurance Fraud Unit, Paffrath allegedly submitted an insurance claim after the diamond ring was stolen under a false appraisal for $10,000 more than the ring’s actual value.
25, 2012 - The Minnesota Department of Commerce collected $1 million in penalties this week from a national mortgage settlement announced in February. Forty-nine states including Minnesota joined the $25 billion settlement which involves the nation’s five largest national mortgage lenders: Bank of America, JP Morgan Chase, Wells Fargo, Citibank, and GMAC/Ally Financial.
15, 2012 - SAINT PAUL, MN – In a coordinated effort with federal law enforcement agencies that executed search warrants at three locations associated with C.C. Brown Law Office in Utah Tuesday, Commissioner Mike Rothman issued a statement of charges against Charles Craig Brown, Chad Gettel, and C.C. Brown Law, LLC for allegedly engaging in unlicensed mortgage modification activities in Minnesota.
12, 2012 - Commissioner Mike Rothman announced that a settlement agreement between the American International Group, Inc. (AIG) and its affiliates with all states and the District of Columbia has become fully effective. Minnesota was one of eight leading states to conduct a Multistate Market Conduct Examination that revealed AIG misrepresented its workers’ compensation insurance premiums to reduce their taxes and assessments, resulting in the $2.1 million settlement for the State of Minnesota.
06, 2012 - Commissioner Mike Rothman this week signed a regulatory settlement agreement with American Family Life Assurance Company of Columbus (AFLAC). The Minnesota Department of Commerce joined with the Departments of Insurance of Idaho and Missouri in conducting a market conduct examination.