A Columbus, Ohio insurance agent accused of unfair business practices has agreed to pay $372,500 to a school district as part of a settlement.
The Ohio Department of Insurance had accused agent Fritz Neuhart and his brokerage two years ago of deceptive business acts because he secretly accepted payments from insurance companies while also collecting fees to shop for insurance for school districts.
The practice was not illegal at the time, but it is now.
The state accepted the settlement, which calls for Neuhart to pay the money to the South-Western School District, which covers southwestern Columbus and some of its suburbs.
Neuhart does not have to admit wrongdoing but must attend courses in professional ethics and other insurance-agent topics.
Information from: The Columbus Dispatch,
Was this article valuable?
Here are more articles you may enjoy.
Intersecting Risks and the Future of Construction Insurance 
NAIC Victim of Cyber Incident Via PeopleSoft System 
Teen Dies After Being Thrown From Horse-Drawn Carriage in NYC’s Central Park 
Space Startups Seek Insurance for Orbital AI Data Centers 
