Hamm levies $10,000 fines against two county mutual insurance companies
Posted on 4/24/2012
BISMARCK, N.D.-North Dakota Insurance Commissioner Adam Hamm announced today that Family Mutual Insurance Company and West McLean County Farmers Mutual Insurance Company have both recently been fined $10,000 each.
In 2009 and 2010, Family Mutual insured property outside its territory and insured commercial properties inside the limits of an incorporated city. In 2010, West McLean also insured property outside its territory and insured commercial properties inside the limits of an incorporated city. According to North Dakota law, a county mutual cannot insure property outside its authorized territory nor may it insure commercial property located within the limits of any incorporated city.
"Both companies agreed to resolve the matter without a hearing," Hamm said.
Consumers with questions are welcome to contact the Department at 1-800-247-0560 or email@example.com.