Conseco to enter talks with Florida regulators-WEB ONLY

  • Comments
  • Print

Conseco Inc. and the Florida Office of Insurance Regulation have agreed to enter discussions after the regulator threatened to revoke Conseco’s license in that state due to problems with its life insurance policies there.

Officials at Carmel-based Conseco say they brought the problem to the attention of officials after they discovered a long-running error that failed to notify life insurance policyholders that they owed additional premiums. As a result, some policyholders have paid too little or not at all their life insurance premiums.

The Indiana Department of Insurance has issued a 90-day moratorium on changes on these life insurance policies while Conseco works to fix the problems.

In a statement, Conseco said it has notified all holders of its All Lifetrend policies in Florida and elsewhere, saying they will continue to receive the full benefits of their policies while discussions continue.

Florida regulators threatened to revoke Conseco’s state license on Dec. 22.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.