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Hamm fines insurance company and requires payments to farmers
 
Bismarck -- North Dakota Insurance Commissioner Adam Hamm announced today a multi-layered disciplinary action through a consent order with The Climate Corporation a/k/a The Climate Insurance Agency (formerly known as Weatherbill), a licensed business insurance entity that sold crop insurance products in the state from 2011 to 2014.
 
The consent order requires a total of $738,106 be credited to approximately 150 farmer customers in the form of premium return and premium waivers. Farmers will receive $485,948 to return previously paid premiums and any that still owe premium will be given waivers totaling $252,158. Additionally, the company must pay a $150,000 fine.
 
“I am satisfied we were able to come to an agreement with the company on our numerous concerns with this product and the manner in which it was sold,” said Hamm. “The payments I have ordered in combination with the premium waivers and the fine are an appropriate response to the confusion and frustration caused by the actions of the company.”
 
Former customers may contact the North Dakota Insurance Department at 800-247-0560 with any questions.
 
To view the entire consent order, click here.
 
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North Dakota Insurance Department
600 E. Boulevard Ave.
Bismarck, ND 58505-0320
Phone 701.328.2440
Toll free 800.247.0560
Fax 701.328.4880

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