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Washington State Fines Aetna $1 Million

Source: AP

Posted on 28 Dec 2012 by Neilson

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Aetna fineAetna Life Insurance Company has agreed to pay a $1 million fine for violations in Washington state.

The Washington state Office of the Insurance Commissioner said Thursday that Aetna's violations included issuing unapproved insurance policies and failing to file legally required documents. The office says the Connecticut-based company has agreed to pay the fine.

Aetna said in a statement that it sometimes makes mistakes. The company says it self-reported information to Washington state regulators and proposed a corrective action plan more than a year ago. Aetna says it is disappointed by the size of the fine given the company's self-reporting and cooperation.