Regulator Takes Legal Action Against Access Insurance to Protect Consumers
The
"Consumers should have confidence that anyone selling them insurance in
In response to numerous consumer complaints about Access' business practices, the department launched an investigation that revealed over 40 different alleged statutory and regulatory violations. The alleged violations in the Order to Show Cause and Accusation include misrepresentation of pertinent facts to claimants, failure to acknowledge and act reasonably promptly, and failure to adopt and implement reasonable standards for the prompt investigation and processing of claims arising under insurance policies.
The Notice of Noncompliance alleges Access's rating plans, rating systems, rates and underwriting guidelines, and their implementation by Access and its affiliates violated
In addition to suspension of Access's Certificate of Authority, the Order to Show Cause seeks monetary penalties against Access and its affiliates of up to
The Notice of Noncompliance requires Access to correct any unlawful practices within 10 days of receiving the notice. For each allegation, Access must also show proof of compliance or correction. If Access fails to comply within the allotted time the department will set a public hearing and if the commissioner finds Access to be in violation, he may order payment of monetary penalties and other appropriate corrective action.


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