The Washington Insurance Commissioner has fined numerous insurance companies a total of $167,000 for wrongfully denying claims and overcharging consumers. The following is a breakdown of the fines:
(1) Aetna Life Insurance Co., of Hartford, Conn., was fined $65,000 for violations, including unreasonably denying 220 claims for acupuncture treatment.
(2) Ace American Insurance Co., of Philadelphia, Penn., was fined $50,000 for violations, including using rates that it had not filed with the state.
(3) Progressive American Insurance Co., Progressive Northwestern Insurance Co, and Progressive Max Insurance Co, all of Mayfield Village, Ohio, were fined $30,000 for wrongly deducting sales tax and fees from cash value calculations.
(4) Homesite Insurance Company of the Midwest, of Mandan, N. Dakota, was fined $12,000 for overcharging more than numerous policyholders for renter’s insurance.
(5) Austin Mutual Insurance Co., of Maple Grove, MN, was fined $10,000 for issuing insurance policies that weren’t in accordance with Washington rates.
- State has fined insurance companies more than $167K (theolympian.com)