Idaho reaches settlement with insurer Aflac Inc.

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by Associated Press

KTVB.COM

Posted on June 4, 2012 at 11:05 AM

BOISE -- State officials say Idaho will receive $200,000 as part of a regulatory settlement with the insurer Aflac Inc.

On Monday, the Idaho Department of Insurance said Aflac will have to submit compliance reports to the state every six months as part of the agreement.

The agency says the settlement followed an extensive examination of Aflac practices that identified several areas of concern, including the handling of client claims, among other issues. Other alleged problems were found with practices and cross-border sales.

The review included state insurance departments in Idaho, Minnesota and Missouri.

Aflac neither admitted nor denied that any of the issues identified in the examination amounted to law violations. The company agreed to pay a total penalty of $1.6 million to the three states as part of the settlement.

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