Shouldn’t those who suffered the damages be the ones to receive all of the $1.5mil fine? It would be more equitable to disburse it to them in proportion to their premium refunds than giving The State a hefty jackpot.
@County Line: The state performed the investigation, spent the man hours and returned premiums to ‘wronged’ consumers – making them whole. Giving the insured’s the ‘jackpot’ (of fines) as you call it – is even less equitable than allowing the state to keep it. There is no end to fraudulent creativity when consumers view their insurance policies as potential Lottery tickets. Let’s not open that door any further.
Shouldn’t those who suffered the damages be the ones to receive all of the $1.5mil fine? It would be more equitable to disburse it to them in proportion to their premium refunds than giving The State a hefty jackpot.
Agreed…and Im pretty sure when these enforcements happen, the insured is given his share.
Great job by the CDI, now we need the Insurance commissioner in Nv. check out Travlers!!!!! thats wishfull thinking !!!!
@County Line: The state performed the investigation, spent the man hours and returned premiums to ‘wronged’ consumers – making them whole. Giving the insured’s the ‘jackpot’ (of fines) as you call it – is even less equitable than allowing the state to keep it. There is no end to fraudulent creativity when consumers view their insurance policies as potential Lottery tickets. Let’s not open that door any further.