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Conseco socked with $750,000 fine

April 4, 2007

A $750,000 penalty has been levied against Conseco Inc. by the Iowa Insurance Division, but the reason for the fine is being kept confidential, according to The Des Moines Register.

The Carmel insurer’s Conseco Life Insurance Co. unit and regulators settled issues related to how the unit priced some of its life insurance policies.

Conseco Life denied it violated Iowa laws or regulations after the state’s insurance commissioner disclosed it had investigated the company.

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