Columbian Financial Group Ceased Sales in NY and IL
Columbian Financial Group recently ceased sales in New York and Illinois.
Reports from Senior VP, Richard Relf, Jr. state:
- The Constellation transaction is not going through, due to a regulatory request from Constellation that NY could not grant.
- As such, both NY and IL regulators have requested that we stop all new sales activity immediately, due to the high strain of new sales on our capital.
- We must stop accepting new applications as of end of the business day today, May 30, 2024.
- We must stop issuing policies as of 4:30 p.m. on Friday, May 31, 2024.
- We truly appreciated your business and support of CFG during our business relationship.
- Our service departments: Premiums, Commissions, Customer Service, and Claims will continue to provide top level service to your agents and their clients.
- There will be no changes to in force policies.
- Renewal commissions will continue to be paid according to commission schedules.