Jan 06, 2025
FARGO, ND (KXNET) — An insurance agent in Fargo has been fined heavily and their license has been placed on probation for violating North Dakota's rebating laws, which prohibits agents from providing gifts of over $100 per year to clients or potential clients. Tyler Bjerke was penalized $136,500, along with his license, after an investigation by the North Dakota Insurance Department found that he gifted 182 pub-style tables (retail value of $213.95 per table). The investigation also found that Bjerke hosted a Sawyer Brown Band concert in February 2023 that gave clients and potential clients free admission, which also exceeded the $100 limit. Kinship caregivers can get help gaining guardianship "Licensed agents are prohibited from providing high-value gifts to consumers because it essentially boils down to bribing clients for business," explained Insurance Commissioner Jon Godfred. "Insurance should only be sold based on the competitive coverage options and premiums offered by an agent, not by those who can offer kickbacks in exchange for business." North Dakota licensed agents are not allowed to provide monetary gifts, physical gifts, or entertainment activities that value over $100 to existing policyholders or potential clients (this is known as rebating). Rebating is not legal in North Dakota. Agents are allowed to offer value-added products or services that are to mitigate risk, reduce claims, provide education, or enhance health or financial wellness. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Today's Top Stories SIGN UP NOW
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