The Ohio Department of Insurance (DOI) has fined USAA Insurance Group $30,000 for using unlicensed agents to sell insurance.
Through their routine market conduct examinations, insurance regulators discovered that USAA was using unlicensed customer service representatives to sell insurance. USAA provides insurance and financial services, including auto, home, life, and health insurance to U.S. military personnel and their families.
"We discovered USAA was not in compliance with state licensing laws and the company made an immediate effort to correct the licensing problem," says Sue Stead, assistant director for investigative and licensing services at the Ohio DOI.
USAA says it has agreed to pay the fine and to actively monitor its personnel to ensure compliance with Ohio agent-licensing laws. The company says its current, sales, marketing, and agent-licensing practices are now in full compliance.
|