Insurance commissioner issues $280,000 fine

Filed under: Daily News |

The Colorado Division of Insurance has fined Chicago-based Celtic Insurance Company $280,000 based on a review of the company’s business during 2005.

A “market conduct examination” [390Kb pdf] found noncompliance with contract form requirements, the untimely payment of claims for consumers, inappropriate denial of benefits and the unlawful issue of certain types of policies.

Celtic officials say they plan to appeal the fine.

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    November 29, 2007 at 7:10 pm