Travelers Puts Up $10.5M To Kick Premium Overcharge Suit
The deal, which concludes an enforcement action by the insurance department, includes a $1.5 million fine as well as $9 million in refunds to policyholders who said they had overpaid on their premiums because of Travelers’ allegedly inadequate implementation of rules in determining policy rates, the insurance department said in a statement.
Such rules included procedures...
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