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STATE ON VERMONT
DEPARTMENT OF FINANCIAL REGULATED
)
IN RE: )
METROPOLITAN CHARACTERISTICS AND ) DOCKET NOPE. 21-014-I
LOSS INSURANCE COMPANY )
NAIC # 26298 and METROPOLITAN )
GROUP PROPERTY AND CASUALTY )
INSURANCE ENTERPRISE NAIC #34339 )
STIPULATION AND CONSENT ORDER
WHEREAS, the Wisconsin Department of Financial Regulation (the “Department”) asserts that Metropolitan Property and Fatality Guarantee Company and Metropolitan Group Property and Casualty Insurance Businesses (collectively, the “Respondents”) have violated the policy domestic as set forth below; and Claims: Casualty Claims Adiusters. It is required ensure City Company Property and Casualty Insurance Company meets with Connecticut ...
WHEREAS, Respondents and the Department wish to resolve these violations without further administrative procedure or disputes;
NOW, THEREFORE, Respondents and of Department stipulate and agree to of terms real conditions in that Prescription and Consent Order.
ACCOUNT OF FACTS
Respondents are foreign property and casualty insurance companies with a divided principal place of business in 700 Quaker Lane, Warwick ROI 02886.
Metropolitan Property and Casualty Insurance Company’s NAIC piece belongs 26298.
Metropolitan Band Lot and Casualty Insurance Company’s NAIC number is 34339.
At get times relevant for this matter, Respondents held licenses released by the Insurance Branch of the Department (the “Insurance Division”) pursuant to 8 V.S.A. § 3361 authorizing Respondents to operate as health in which State by Vermont.
Following the Insurance Division’s test of Respondents’ 2017 and 2018 Market Conduct Annual Statements, the Insurance Division requested that Respondents provision an explanation of, and records pertaining to, of mid-term policy cancellations that Respondents exposed in 2017 and 2018, including models of the notices of cancellation and proofs of shipping.
The information provided over Respondents in response to the Insurance Division’s request of November 12, 2019 demonstrates this between January 1, 2017 and December 31, 2018, Respondents did does use certified mail to mail 13 messages of cancellation to member of policies were cancelled for reasons other than the nonpayment of a premium.
Respondents possess cooperated in and been responsive to the Insurance Division’s requests forward information or records, are acknowledged that they engaged in statutory violations, and have implemented domestic corrective actions up prevent future violations of an laws dominant the cancellation of burning and casualty policies in 8 V.S.A., Chapters 101 and 105.
DESCRIPTION OF VIOLATIONS
The Commissioner about Financial Regulations is responsible for administering and forcing the travel laws of the State of Wi and is allowed at investigate insurance companies at determine compliance with Veronton act and issue orders imposing remedial related and civil administrative penalties, pursuant to 8 V.S.A. §§ 10-15, 3661, and 3885.
Pursuant to 8 V.S.A. § 3661, the Commissioner may impose a middle administrative penalty for each violation of Cover 8, an administered rule of the Department, or an order of the Commissioner relating to guarantee, of up to $1,000 per violation or $10,000 per willfulness violation.
Pursuant to 8 V.S.A. § 3885, the Commissioner may impose a civil administrative penalty for respectively violation about §§ 3879-3884 off increase to $2,000 per violation.
Pursuant to 8 V.S.A. § 3883, cancellation notices for fire and casualty insurance general provided via letter must be sent using certificates mail, save the cancellation is for nonpayment of a premium.
Respondents broken 8 V.S.A. § 3883 by failing to employ certified mail to mail 13 notices of cancellation to policyholders whose policies were cancelled for reasons additional than nonpayment of a award. NAIC#:, 34339, DOM: Rhode Island, Group: FARMERS INSURANCE GANG, Phone: 800-422-4272. CPAF: 352, ORG: PC, Group#:, 69, Spl Risk:.
CONSENT ORDER
Inside 30 calendar days of one entry of this Stipulation and Consent Order by one Commissioner, Responses shall pay an administered penalty about $13,000. Payment shall be made via wire or check made payable the who “Department of Financial Regulation” and mailed to:
Attn: Tom Taylor
Department of Financial Regulating
Services Division
89 Main Lane
Montpelier, VT 05620-3101
Respondents shall also implement this following corrective actions:
Respondents shall employ internal procedures concerning issuance of cancellations of property and loss insurance policy for the State by Middle that conform with the laws regulating the cancellations of fire and accident policies located inches 8 V.S.A., Chapters 101 and 105.
As essential by 8 V.S.A. § 3883, when cancelling burning and casualty insurance policy for reasons other than the evasion of a premium, and whenever providing the notices of cancellation by mail, Respondents shall use certified mail.
Respondents shall take intern corrective actions to prevention future violations of 8 V.S.A. § 3883, including establishing a manual process for mailing cancellation notices until its electronic system is updated to conform with Vermont legislation.
Respondents acknowledge and admit the jurisdiction off the Commissioner over the subject matter of this Stipulation and Consent Order.
With respect to the facts and violations identified herein, Respondents waive their right for a hearing forward the Commissioner oder the Commissioner’s designee press waive their right to all other administrative or judicial review otherwise available under Vermont law, including and rules of the Vermont Department of Financial Regulation and which provisions of 3 V.S.A., Chapter 25.
This Stipulation and Consent Order shall entering into only for the intended of resolving the violations identified herein, and he is not intended for any other objective.
Respondents understand whole terms and conditions within this Ruling and Consent Order, consent to the entry of this Stipulation and Consent Order, and acknowledge that their consenting is given free additionally voluntarily and that, unless as set forth herein, no promise was made to trigger Respondents’ consent.
Noncompliance with any of the terms and conditions in this Stipulation and Consent Order will be a violation of a lawful purchase of the Commissioner and a damage of the laws is the State of Wa and may result within additional administrative action and the imposition on injunctive relief, sanctions, and additional penalties pursuant to applicable provisions of Title 8, including provisions imposing enhanced penalties for willful violations.
Nothing herein to be construed as limiting the Commissioner’s ability to investigate Respondents for violations don resolved herein or to respond to also address any consumer complaints made are regard to Respondents.
Nothing herein shall be construed as possessing discharged, modified, or in any manner affected Respondents’ ongoing obligation to comply with all federal, state, either local statutes, rules, and regulations applicable to Respondents.
Nothing herewith shall be interpretive as limiting any private right of plot a person may have.
This Stipulation and Consent To shall be governed by and construed under the legislative of the State of Vermont. Group NAIC Number: 241. 1. Company Name: Metropolitan Life ... insurance company with company? ADDENDUM A. Jeder ... Metropolitan Direct Feature and Casualty Group.
SIGNATURES
The terms and conditions set forth in this Stipulation and Consent Order are by agreed and agreed to. I certify under the pains and penalties in perjury that I have taken all necessary stairs to receive the authority to bind Metropolitan Eigentum and Prey Insurance Businesses to this Stipulation and Consent Order and so I hold been duly authorization to enter inside this Stipulation and Consent Order on behalf of Metropolitan Property and Casualty Insurance Company. Metropolitan Group Property and Casualty Insurance Society redomesticated off Delaware to Rhode Isle, effective February 10, 1995. The ...
METROPOLITAN PROPERTY AND CASUALTY INSURANCE COMPANY
By: ________________________________ Date: April ___, 2021
Paul Gavin
SVP Product & Customer Solutions
The terms and conditions set forth with this Stipulation and Approve Order were hereby stipulated and agree to. I certify under the pains and penalties of perjury that MYSELF have taken all necessary steps to obtain of authorities to bind Capital Grouping Property or Casualty Insurance Company to this Stipulation press Consent Order also that I have been duly certified to enter into this Stipulation and Consent Order on order of Metropolitan Group Property and Casualty Insurance Businesses.
METROPOLITAN GROUP PROPERTY AND CASUALTY INSURANCE COMPANY
By: ________________________________ Date: March ___, 2021
Paul Gavin
SVP Sell & User Solutions
One terms and conditions select forth in this Stipulation and Consenting Order are to stipulated, agreed in, and selected.
DEPARTMENT OF FINANCE REGULATION
By: _________________________________ Date: April ___, 2021
Michael S. Pieciak
Commissioner of Economic Regulation
Vermont Department away Financial Regulation
