unfair practices News

Insurer Fined More Than $200K in Delaware for Unfair Practices

The Delaware Department of Insurance, along with insurance regulators for forty-eight other jurisdictions, have reached a multi-million dollar settlement with Assurant Inc. regarding the company’s writing of force-placed property insurance, of which Assurant is the nation’s largest writer. Force-placed property …

Wells Fargo Sued by Los Angeles Over ‘Fraudulent Conduct’

Wells Fargo Bank could be writing a big check after the city of Los Angeles filed a lawsuit over unfair practices in which employees opened unauthorized accounts for customers, sticking them with fees and damaging their credit. The Los Angeles …

Ohio Insurance Director Warns Insurers Against Use of Price Optimization

Lieutenant Governor and Department of Insurance Director Mary Taylor has warned Ohio insurers against the use of price optimization that can result in unfair discrimination. Taylor recently issued Bulletin 2015-01, dated Jan. 29, to Ohio insurance companies noting that the …