Insurance Commissioner Mike Kreidler is fining a Florida insurer $100,000 for using unlicensed agents, issuing out-of-date policies, and charging some customers unapproved rates.

American Bankers Insurance Company of Florida has also agreed to provide refunds to all Washington consumers who were overcharged as a result of the violations. The overcharges are believed to total more than $120,000.

This is the fourth time Kreidler has fined American Bankers since 2001. The company has agreed to a two-year compliance plan designed to prevent such problems in the future. 

An additional $70,000 fine is suspended, provided that American Bankers refunds the overcharges as planned and commits no similar violations within the next two years.

Fines imposed by the insurance commissioner’s office do not go to the agency. They are deposited in the state’s general fund to pay for other state services.

Any Washingtonian with a complaint against an insurer, agent or broker can contact the insurance commissioner’s office at 1-800-562-6900 or file a complaint online at www.insurance.wa.gov