$700K award to Minn. in Aflac settlementby Elizabeth Stawicki, Minnesota Public Radio
ST. PAUL, Minn. — Minnesota will receive $700,000 as part of a settlement with Aflac insurance. Aflac bills itself as the number one provider of supplemental health insurance in the U.S.
Best known for its talking duck commercials, the company settled with Minnesota and two other states, Idaho and Missouri, and agreed to stop certain sales practices.
The agreement comes after regulators found Aflac agents selling duplicate coverage and other policies that consumers didn't need, Minnesota Commerce Commissioner Michael Rothman said.
"The agents in this case, were selling duplicate policies that didn't necessarily fit with the policy-holders needs," Rothman said.
He said the company agreed to develop a corrective action plan and submit semi-annual reports documenting its progress. Aflac did not immediately return MPR's request for comment. But in the settlement agreement, the company said it neither admits nor denies any misconduct.
"What this is really meant to do is to hold the company responsible for the agents' activity," Rothman said.