Assurant Makes $3.5M Deal With SEC

Law360, New York (January 21, 2010, 5:51 PM EST) -- Specialty insurance provider Assurant Inc. has agreed to pay $3.5 million to settle a U.S. Securities and Exchange Commission inquiry into its finite reinsurance offerings following a $10 million accounting inconsistency regulators found in 2004.

The SEC filed a civil injunctive action in the U.S. District Court for the Southern District of New York Thursday, charging Assurant with violating several non-fraud-related sections of the Securities and Exchange Act, including corporate reporting, books and records, and internal provisions. In accepting the judgment Assurant neither admits nor denies...
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