News

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.

The North Dakota Insurance Department is alerting Humana customers with Medicare Advantage plans of a change in hospital networks.

Insurance Commissioner Jon Godfread will serve as the president of the National Association of Insurance Commissioners (NAIC) for 2025 after serving as president-elect in 2024.

Insurance Commissioner Jon Godfread has announced the health insurance rate changes for individual and small group plans for 2025 that comply with the Affordable Care Act (ACA), citing the rise in healthcare costs in recent years as the driving force in rate changes. 

Beginning today, Medicare recipients may begin selecting their Part D prescription plan for the 2025 plan year.

In the wake of wildfires over the weekend affecting parts of North Dakota, Insurance Commissioner Jon Godfread and State Fire Marshal Doug Nelson are reminding residents of the necessary steps to protect themselves and their property during the recovery process.