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.
29, 2012 - Minnesota’s focus on financial literacy, highlighted by April’s extensive calendar of events during Financial Literacy Month and the strong coalition of more than 140 stakeholders from state and local government, community organizations, non-profits, financial institutions, and foundations that participated in the Second Annual Financial Literacy Roundtable, has not gone unnoticed.
19, 2012 - With the recent collapse of these two high-profile commodity brokers, and the loss of hundreds of millions of dollars in customer funds, the Minnesota Department of Commerce has issued caution to all commodity investors.
18, 2012 - Every minute of every day, a car accident occurs. To help ease the confusion of what information to share in a stressful situation, the Minnesota Department of Commerce announces the launch of WreckCheck Mobile App by the National Association of Insurance Commissioners (NAIC).
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.
14, 2012 - Eveleth 5th grader Quinn Muhich was recently named the winner of the Hit a Homerun for Financial Literacy Contest, a statewide essay contest sponsored by Governor Mark Dayton, the Minnesota Department of Commerce, and the Minnesota Twins. Muhich, whose award-winning essay detailed ways that kids can “wait, save, and give,” won four free tickets to last Saturday’s Twins game, a bat signed by Minnesota Twins Manager Ron Gardenhire, and a shout-out on the Twins-O-Gram big screen during the fourth inning.
07, 2012 - The Minnesota Department of Commerce returns to Farmfest this year, with more information relevant to rural Minnesota economies than ever before. The Commerce Department booth is located in the Agriculture Building, where Commerce staff will be on hand to answer questions about a variety of topics affecting the lives of farm families and businesses.
07, 2012 - Sometimes money goes missing due to a change of address or a death in the family. That’s when the Minnesota Department of Commerce steps in to help Minnesotans find and claim what is rightfully theirs. This year alone the Commerce Department reunited 7,200 Minnesotans with $19 million in missing bank accounts, life insurance policies, safe deposit boxes, unclaimed paychecks, and other real property and financial assets – a 13 percent improvement over 2011.
26, 2012 - Several weeks of severe weather across Minnesota has caused golf ball sized hail in Detroit Lakes, downed trees and power lines in Apple Valley and Hastings, and severe flooding in Duluth, Moose Lake, and Cannon Falls. As Minnesotans begin to assess damage to their homes and businesses, waterlogged basements, and broken windshields, the Minnesota Department of Commerce is on hand to help consumers understand their rights, resolve insurance claims, and provide energy and weatherization assistance to low-income Minnesotans.