The Connecticut Insurance Department has fined American Bankers Insurance Company of Florida $213,000 for allowing unlicensed individuals and entities to act as insurance agents in the state.
The department’s recent market conduct examination found that the Florida insurer, part of Atlanta-based Assurant Inc., violated state licensing requirements from January through December 2023.
The examination found multiple violations related to the company’s homeowners line of business.
Specifically, the department found certain individuals and entities were acting as agents without required licenses or appointments, according to a consent order signed Jan. 5 by Interim Insurance Commissioner Josh Hershman.
The company also failed to take proper corrective action regarding producer licenses and appointments as required by a previous consent order from January 2020, according to the department.
American Bankers Insurance Company of Florida, which is licensed to transact property and casualty insurance in Connecticut, admitted to the violations.
Under the consent order, the insurer agreed to undertake a complete review of its practices and procedures to ensure compliance with Connecticut statutes. The company must provide the insurance commissioner with a full report of findings and a summary of corrective actions within 90 days.
The department conducted its examination from January through July 2025.
