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Cottingham Agency

Fargo, ND: (Jun-22-07) An insurance fraud lawsuit was filed against the Cottingham Agency, by policyholders who were defrauded by Diane Cottingham, an insurance agent who killed herself in late March on being discovered. Cottingham, of Underwood, who was the Cottingham Agency's president and secretary treasurer, killed herself when state regulators became aware of the fraud. Her body was found March 24, near her car in a pasture near Max. She had been scheduled to meet that day with Insurance Commissioner Jim Poolman, who planned to order her to stop selling insurance policies.

As part of the settlement reached with the Cottingham family, Insurance Commissioner Poolman ordered full restitution for 10 policyholders of the Cottingham Agency. The amounts range from about $338 to nearly $326,000. The total is about $675,000. The money will be repaid by the family of Cottingham, which runs the Cottingham Agency, making this the largest investigation and the largest fraudulent activity with the taking of premium dollars in state history. [FORBES: INSURANCE FRAUD]


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Published on Jun-29-07


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