FOR LOVE AND YOUR MONEY—ROMANCE SCAMS ON RISE

FOR IMMEDIATE RELEASE Helena, Montana—With love in the air and the recent FBI warning, the Commissioner of Securities and Insurance (CSI) emphasizes the importance of Montanans to be on the watch for romance scams—or confidence scams—and recognizing the warning signs. On the rise nationally, romance scams target our neighbors and loved ones of all ages. … Read more

COMMISSIONER DOWNING JOINS 26 OTHER STATES AND THE SEC IN $3 MILLION SETTLEMENT WITH UNREGISTERED CYRYPTO PROGRAM

TradeStation settles allegations of selling unregistered securities in crypto-interest earning program FOR IMMEDIATE RELEASE Helena, Montana, February 7, 2024–The Montana Commissioner of Securities and Insurance joined a task force of 26 state securities regulators and the U.S. Securities and Exchange Commission (SEC) to announce a $3 million settlement in principle with TradeStation Crypto, Inc. over … Read more

Commissioner Downing Announces Historic Settlement with State Farm Regarding Unfair Claim Settlement Practices

FOR IMMEDIATE RELEASE The parties agreed that certain auto accident claimants were inappropriately denied payment. Helena, MT, February 6, 2024—Troy Downing, the Montana Commissioner of Securities and Insurance (CSI), announced today a settlement with State Farm Mutual Automobile Insurance Co. (State Farm), wherein State Farm agrees to pay a $2 million fine and to be … Read more

2023 PBM Transparency Report Released by Commissioner Downing

Helena, Mont.- In 2021, Commissioner Downing requested legislation which was introduced by Senator Hertz to oversee Pharmacy Benefit Managers (PBMs). The bill became law and requires PBMs to be licensed and provide an annual transparency report to CSI. PBMs are paid by the health plan to create a formulary, which is a list of drugs that … Read more

Commissioner Downing Moves Land Board to Approve Purchase of 328-Acre North Wildcat Coulee Wildlife Management Area

FOR IMMEDIATE RELEASE Helena, Montana – Commissioner Troy Downing and the Montana Land Board voted to approve the purchase of the Lower Yellowstone River Project and the North Wildcat Coulee Wildlife Management Area (WMA). The 328-acre property is located approximately two miles upstream of the Far West Fishing Access Site and consists primarily of riparian … Read more

Billings Agent Pleads Guilty to Felony Insurance Fraud

Commissioner Downing Applauds Another Successful CSI Prosecution Helena, Mont.- Former Billings insurance agent Jessica Siegel pleaded guilty in Montana’s 13th District Court to criminal insurance fraud. Siegel was ordered to pay more than $86,000 in restitution, serve a six-year deferred sentence, and complete 200 hours of community service. The prosecution of Ms. Siegel is the … Read more

Commissioner Troy Downing Encourages Montanans to Prepare for Fire Season

Helena, Mont.- Wildfire season is real and is now. It is threatening homes, businesses, and property. Insurance Commissioner Troy Downing advises Montanans to be prepared for loss due to wildfire and to take steps now to mitigate risk and protect their property.  Before a Wildfire: Ensure there is defensible space around your property by trimming or … Read more

Commissioner Downing Prohibits Insurance Companies from Refusing to Issue Policies in Low-Risk Fire Areas

Downing Promises Aggressive Enforcement Helena, Mont.- State Auditor and Commissioner of Securities and Insurance Troy Downing put insurance companies on notice that CSI will aggressively pursue insurance companies that deny coverage in low-risk fire areas. An Advisory Memorandum sent to companies on August 14 states that any refusal to renew or issue policies based on wildfire … Read more

Commissioner Downing Adds Two Stops to the Protecting the Big Sky Tour

The whirlwind five-day, 12-stop tour of eastern Montana, just got better as Commissioner Downing announced two Coffee with the Commissioner events in Miles City and Sidney. As the Montana Securities Commissioner, Downing’s top priority is stopping financial exploitation in our state. The Protecting the Big Sky Tour will educate Montanans about costly scams affecting families … Read more

Judge Approves Liquidation of Western Title and Escrow

Helena, Mont.-Today, Commissioner Troy Downing announced that District Court Judge Leslie Halligan has ordered Western Title and Escrow (WTE) into liquidation. The order follows a 2022 ruling that placed the company, owned by Julie Leary, into receivership.  Any person or company who believes they may have a claim against WTE or Julie Leary as the … Read more