Auto insurance companies return fees to Marylanders: Naughty businesses of the Week
More than half of Maryland's auto insurance companies have had to pay hundreds of thousands in administrative penalties and restitution to their policyholders after mishandling claims when vehicles are declared a total loss, according to the Maryland Insurance Administration.
A year-long review has revealed that ...
"To date, the MIA has fined the offending companies $235,000.00 and has instructed them to pay a total of $442,590.38 in restitution to 4,120 Maryland citizens,” said Ralph S. Tyler, the state insurance commissioner in a statement. “We are still in the process of examining seven companies, but we are committed to getting vehicle owners what they are guaranteed under the law."
Everyone impacted has already received their cash, an average payment of $100. Click this link to see the list of penalized auto insurance companies.
Categories: Cars, Insurance, Naughty businesses/NBotW
