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PA Insurance Department: 2012 Record Year for Fines and Restitution
By: PR Newswire
Jan. 8, 2013 03:07 PM
HARRISBURG, Pa., Jan. 8, 2013 /PRNewswire-USNewswire/ -- The Pennsylvania Insurance Department collected a record of nearly $18 million in fines and $13.4 million in restitution in 2012.
The collections were from enforcement and market conduct actions, as well as 10 multi-state examinations where Pennsylvania was a lead state along with other state insurance departments.
"Governor Tom Corbett is committed to ensuring Pennsylvania is a place where companies want to do business and bring jobs. That commitment comes with a promise to see that consumers are served on a fair and level playing field," Insurance Commissioner Mike Consedine said. "When department licensees violate our laws, we will take action and hold them accountable."
Highlights from 2012 enforcement and market conduct actions include:
To review the multi-state settlement agreements, and to view the comprehensive list of enforcement and market conduct actions taken by the department, go to www.insurance.pa.gov and choose the "consumer protection" tab.
Media contact: Rosanne Placey or Melissa Fox, 717-787-3289
SOURCE Pennsylvania Department of Insurance
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