A company authorities say used deceptive practices to sell supplemental health insurance to veterans and other Massachusetts residents will now pay more than $5 million to settle case.
Attorney General Martha Coakley said Tuesday that the new $5.25 million settlement is an increase of $1.5 million over an earlier agreement reached between Coakley’s office and Life Insurance Company of North America last July.
Coakley says the increase in restitution to consumers and penalties is a result of the insurer’s failure to meet the conditions of the original settlement.
The company said in a statement that the amended settlement clarifies both parties’ understanding of the agreement.
The state alleged the company violated state consumer protection laws through deceptive marketing practices, including misrepresenting its insurance as a government veteran’s benefit.
Topics Massachusetts
Was this article valuable?
Here are more articles you may enjoy.
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
AIG Joins Private Equity Firm Onex to Acquire Re/Insurer Convex Group 
Truck Driver in Fatal Crash Repeatedly Failed Driving Tests, Florida AG’s Office Says 
Suspects in Louvre Heist in Custody After Week-Long Manhunt 
