Fireman’s Fund to Pay $44M to Settle Charges

     (CN) – Fireman’s Fund Insurance Co. will pay $44 million to settle claims it knowingly issued insurance policies that were ineligible for inclusion in federal reinsurance programs, and falsified documents to hide this activity, the Justice Department announced.
     According to prosecutors, between 1999 and 2002, Fireman’s knowingly issued federally reinsured crop insurance policies that were ineligible for federal reinsurance.
     Specifically, the government alleged, Fireman’s Fund backdated policies, forged farmers’ signatures, accepted late and altered documents, whited-out dates and signatures, and signed documents after relevant deadlines.
     The policies were issued by Fireman’s Fund offices in Modesto, California; Lambert, Mississippi; Fargo, North Dakota; Lubbock, Texas; Prosser, Washington; and Overland Park, Kansas.
     Prosecutors emphasized that the claims settled by the agreement are allegations only, and that there has been no determination of liability.

%d bloggers like this: