Fine levied against West McLean Insurance
Fine levied against West McLean Insurance
West McLean County Farmers Mutual Insurance Company, Minot, along with Family Mutual Insurance Company, have each been fined $10,000 for insuring property outside their territory and insured commercial properties inside the limits of an incorporated city. The incidents took place in 2009 and 2010.
The announcement was made this past week by North Dakota Insurance Commissioner Adam Hamm.
According to North Dakota law, a county mutual cannot insure property outside its authorized territory nor may it insure commercial property located within the limits of any incorporated city. Territories can be expanded, but only after a request of the proposed additional territory is approved by the insurance commissioner.
