Georgia Insurance Commissioner John W. Oxendine announced that St. Paul Travelers Insurance Companies has changed what he alleges was the company’s prejudicial agent commissions on homeowners policies in Georgia’s coastal counties, allowing him to cancel a planned hearing into the matter.
According to Oxendine’s prior order, St. Paul Travelers had planned to reduce commissions paid to agents on homeowners policies sold in Bryan, Camden, Chatham, Glynn, Liberty, and McIntosh Counties. The intention, Oxendine said, was for St. Paul Travelers to write fewer policies in those counties.
A hearing that had been scheduled for February 9 at 10 a.m. has been cancelled, Oxendine said.
“I applaud St. Paul Travelers for cancelling their intent to discriminate against coastal homeowners and agents,” Oxendine said. “Citizens in the affected counties deserve coverage at reasonable rates, which can only be fostered through competition from many companies, including St. Paul Travelers.”
Minnesota-based St. Paul Travelers Insurance Companies does business in Georgia through approximately 42 affiliated companies.
Source: Georgia Insurance Commission
Topics Georgia
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