Oregon Enforcement Action Against CNA Insurance Group Highlights P&C Compliance Risks in Total Loss Claims
Oregon's Division of Financial Regulation has issued a final consent order against six CNA Insurance Group carriers for significant claims compliance violations related to automobile total loss processing. The order outlines how these P&C compliance failures impacted 86 claims and resulted in $58,175 in civil penalties.
According to the regulatory filing, "The CNA Insurance Group received 86 automobile total loss claims in Oregon and did not send 58 claimants the required Oregon total loss notice for cash settlements."
This enforcement action emphasizes critical considerations for insurance compliance officers, including proper regulatory reporting requirements, third-party administrator oversight responsibilities, and the financial consequences of consumer protection regulation violations.
Learn how this state insurance regulation enforcement impacts compliance monitoring practices and documentation requirements for P&C insurers.
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