Connecticut Orders Liberty Mutual to Pay $930K

March 25, 2009

The Connecticut Insurance Department has ordered Boston-based Liberty Mutual Insurance Cos. to pay nearly $930,000 in fines and restitution for overcharging thousands of customers, settling claims incorrectly and violating state laws in the appointment and licensing of agents.

The total is among the largest amount ordered by state regulators, according to the insurance department.

The fines and restitution were spread among five subsidiaries of Liberty Mutual. Regulators discovered the discrepancies and ordered the fines after completing a market conduct examination.

The restitution, which amounted to over $630,000, was returned to more than 3,600 auto insurance customers.

Liberty Mutual has pledged to review its practices and procedures in the Nutmeg State.
__

Source: Connecticut Insurance Department

Topics Connecticut

Was this article valuable?

Here are more articles you may enjoy.

Latest Comments

  • March 31, 2009 at 1:33 am
    Liberty Critic says:
    They do all they can to keep the product line managers in the dark. Attaching WC endorsements to GL policies, manuscripting without consultation. It is getting worse since the... read more
  • March 30, 2009 at 2:06 am
    GL GURU says:
    It must have been some time since you worked there. constantly vigilant on making that compliant when I was there to a fault. Again the states did not make it easy.
  • March 26, 2009 at 12:03 pm
    Liberty Critic says:
    I know for a fact as a former LM manager that this company has a "compliance management" evaluation that they consider.....and then break the rules. If any state does a Nation... read more

Add a CommentSee All Comments (9)Add a Comment

Your email address will not be published. Required fields are marked *

*

More News
More News Features