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Life Insurance and Annuity Company Investigates Potential Rebating Scheme

Accordia Life and Annuity Company hired our firm to perform an internal investigation into a potential rebating scheme allegedly perpetrated against the company by independent producers, and to file with state regulators insurance fraud reports on two dozen such producers.

Our professionals reviewed the underlying facts and law to provide multifaceted advice regarding potential litigation and regulatory issues, and provided individual analysis of more than 50 producers, state-by-state regulatory requirements and ongoing contractual relationships.

The scope of the engagement expanded to include preparing and submitting more than 30 fraud reports to 10 separate state insurance departments. The firm continues to assist in ongoing responses to follow-up inquiries from multiple state agencies as they perform fraud investigations.

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