Trans World Assurance can no longer sell new insurance policies in Georgia. That’s the result of an order signed by state Insurance Commissioner John Oxendine, which calls for the California-based insurer to surrender its certificate of authority in Georgia.
Wednesday’s action ends a two-year legal battle, in which Trans World Assurance was fined $214,000 and ordered to stop operations.
The company was accused of targeting military personnel with a deceptive sales program among other violations.
Trans World Assurance is still required to service existing policies sold before September of 2007.