News

Insurance Commissioner Jon Godfread has issued a Stop Order against EPIC Management, LLC and executive officer Todd Berning, requiring them to immediately cease offering or selling membership interests in the company.

The action follows concerns about the company’s financial condition, leadership, and transparency. Under state law, the Commissioner has authority to issue such orders to protect investors. Respondents may request a hearing within 15 days. The order does not affect prior investments in existing real-estate holdings.

North Dakota Insurance Commissioner Jon Godfread announced today the unification of the state’s Insurance and Securities department—a move designed to better safeguard residents from fraud and financial risk, with consumer protection at the forefront.

Following the recent severe storms that swept across parts of North Dakota, Insurance Commissioner Jon Godfread is urging residents to inspect their property for damage and begin the insurance claims process as soon as possible.

Today, Gov. Kelly Armstrong signed Senate Bill 2214 into law, merging the North Dakota Securities Department into the North Dakota Insurance Department. 

A North Dakota district court judge has approved a motion for summary judgment by Insurance Commissioner Jon Godfread to block an illegal rate increase on consumers of a financially troubled long-term care insurance company operated by the state of Pennsylvania.

The North Dakota Securities Department announced that it joined a taskforce of state securities regulators and the U.S. Securities and Exchange Commission (SEC) in a $106 million settlement with Vanguard Marketing Corporation (VMC) and The Vanguard Group Inc. (Vanguard) for failing to supervise certain registered persons and failing to disclose potential tax consequences to investors following a change in investment minimums for certain target date retirement funds.

Insurance Commissioner Jon Godfread announced today that the North Dakota Insurance Department helped over 1,500 consumers in 2024, assisting with insurance-related complaints and inquiries, ultimately recovering over $2 million for policyholders across the state.

Insurance Commissioner Jon Godfread participated in a roundtable discussion this week on wildfires and their impacts on the U.S. insurance market hosted by the U.S. House Committee on Financial Services.

The North Dakota Securities Department, a member of the North American Securities Administrators Association (NASAA), has joined a $17 million settlement with Edward D. Jones & Co., L.P. (Edward Jones) resulting from an investigation into the broker-dealer’s supervision of customers paying front-load commissions for Class A mutual fund shares.

A Fargo insurance agent has been fined $136,500, and their license to sell insurance in North Dakota has been placed on probation for four years for violating the state’s rebating laws, prohibiting insurance agents from providing gifts valued at over $100 per year to clients or potential clients.