New York-based American Medical and Life Insurance Co. (AMLI) has been fined by the New York State Insurance Department.
The company was accused of failing to cover claims under policies that its advertisements said provided full coverage for as little as $5 a day. American Medical and Life Insurance Co. sells policies in 38 states and the District of Columbia.
The company agreed to pull the advertisements and to stop selling its partial coverage policies in New York.
According to the Associated Press, John Ollis, president and CEO of AMLI said in a statement that the company no longer does business with the “marketing entity” responsible for the advertisements.
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