NEW YORK Chartis Pays $495K Fine
The New York Insurance Department has taken disciplinary action against Chartis Claims Inc., imposing a $495,000 fine on the unit for licensing infractions. According to the disciplinary report issued on Jan. 6, 2010, a number of Chartis employees "acted as independent adjusters in [the] state without licenses and transacted insurance business under unlicensed names."
Chartis is a property and casualty unit of the insurer formerly known as AIG. In December 2009, the company agreed to pay the six-figure fine, which was the highest fine listed in the most recent disciplinary report issued by the state insurance regulator. Per the document, other fines ranged from $500 to $6,000. –By Christina Bramlet
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