Two Insurers Fined for Disregarding Regulations

Missouri insurance regulators have reached a settlement agreement with Nationwide Agribusiness Insurance Co. and Farmland Mutual Insurance Co. after examining their handling of workers' compensation insurance.The settlement will award the state of Missouri $142,250, and policyholders will receive $250,000 in restitution, said John Huff, Insurance Department director.Regulators say Nationwide offered a dividend plan to some policyholders, but not to others. The excluded policyholders will be paid $250,000 in restitution.The state's market conduct examination also found that Nationwide a...