Aflac to pays Missouri $700K in settlement

Jul 5, 2012

Missouri insurance regulators say Aflac Inc. has agreed to pay $1.6 million in fines to three states to settle allegations about its business practices.

The Missouri insurance department said Thursday that Aflac will pay $700,000 to the state, an additional $700,000 to Minnesota and $200,000 to Idaho.

The settlement comes after a market conduct examination that included a review of insurance policy sales, advertising by agents and incentives given to agents selling Aflac policies.