Missouri insurance regulators say Aflac to pay $1.6 million

Thursday, July 5, 2012 | 4:28 p.m. CDT

JEFFERSON CITY — Missouri insurance regulators say Aflac Inc. has agreed to pay $1.6 million in fines to three states to settle allegations about its business practices.

The Missouri insurance department said Thursday that Aflac will pay $700,000 to the state, an additional $700,000 to Minnesota and $200,000 to Idaho.

The settlement comes after a market conduct examination that included a review of insurance policy sales, advertising by agents and incentives given to agents selling Aflac policies.

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