State Insurance office revokes company license

A life insurance company has had its license revoked by Georgia's insurance commissioner. Trans World Assurance is banned from selling any new policies in the state. The company was also fined $214,000, and ordered to refund money collected from active military personnel. The state's insurance office says the company targeted American military personnel with a deceptive sales program, and committed multiple state insurance code violations. The president of the California-based company says he plans to appeal the ruling.