Florida insurance regulators are asking 2 life insurers about solicitations of business from U.S. military personnel.
The Florida Office of Insurance Regulation has issued an “order to show cause” to American Fidelity Life Insurance Company, Pensacola, Fla., and Trans World Assurance Company, San Mateo, Calif.
In the order, which requires the insurers named to show why Florida should not suspend their right to do business in Florida, regulators allege that American Fidelity or Trans World may have sold insurance products to U.S. military personnel in December 2007 and January 2008 after offering prizes, such as Xbox video game systems, valued at over $25.
Florida regulators also say one company, or both companies:
- Employed a corporal in the U.S. Marine Corps as a driver who used his military identification to gain access to the military base to pick up military personnel and take them to the companies’ offices.
- Misrepresented that they were affiliated with the U.S. military in the sale of their insurance products.