CRM Fined by N.Y. Insurance Department for Unlicensed Adjusting

Compensation Risk Mangers – at risk of losing its state license over allegations that it badly mismanaged a string of failed group self-insured trusts – has agreed to pay a $96,110 fine to the New York State Insurance Department in connection with a parallel investigation that concluded CRM employees acted as unlicensed independent adjusters for self-insureds between 2002 and 2007.New York Insurance Superintendent Eric Dinallo said Monday that CRM Chief Executive Officer Daniel G. Hickey Jr., signed a stipulation acknowledging the company had acted as an unlicensed independent adju...