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A Colorado company that provides mostly medical malpractice insurance in three states was sanctioned by the state’s Division of Insurance for a variety of violations — including a lack of clarity to clients about its political action committee — and fined $44,000, the division announced Wednesday.
Regulators determined that COPIC Insurance had violated 23 separate portions of state insurance rules, one of them for not making timely reports of malpractice settlements to the state’s Board of Medical Examiners.
Though it has paid the fine, COPIC has filed an appeal in Denver District Court to dispute the findings, which were made as part of an annual “market conduct” review of all insurance providers.
