North Dakota Insurance Commissioner Adam Hamm fined two mutual insurance companies in the state for operating outside their approved territories.

The organization representing state insurance commissioners is promoting life insurance as an “overlooked” potential source of immediate funds.

A Bismarck, N.D., insurance agent and his agency were served a cease and desist order Dec. 15 for allegedly borrowing money from a client and misappropriating another client’s premium payments for personal use.

North Dakota has revoked the insurance license of Jeffrey David Neppl, a Fargo, N.D., agent who allegedly misappropriated a client’s funds for his own personal use.

The National Association of Insurance Commissioners appointed a subgroup June 3 to investigate the effect of principles-based reserving (PBR) on the life insurance industry.

The chairman of a National Association of Insurance Commissioners (NAIC) committee compared stranger-originated annuity transactions (STATs) to cockroaches, while others suggested the need for tighter regulation of the growing practice.

A Minnesota man, who lost his license to sell insurance in that state in December 2009, has now lost his license to practice in North Dakota as a result.

A North Dakota man who reported one conviction, but failed to report to state regulators four prior criminal convictions, including attempting to allude police, had his insurance license revoked.

North Dakota’s insurance department has revoked the license of an agent it says engaged in deceitful and dishonest practices against her clients.