Universal overcharges
Insurance Commissioner John W. Oxendine ordered a Kansas insurance company to return $1,016,518 in overcharges to 159 Georgia customers. Oxendine said Universal Underwriters Insurance Company will make retroactive premium adjustments to affected policyholders, including interest, for new or renewed policies dating back to Jan. 1, 2002.
The company must provide proof of all premium adjustments and interest paid within 30 days, and must also cease and desist from charging rates that exceed approved rating plans. The company writes commercial coverage for auto dealerships and aftermarket service companies.
Was this article valuable?
Here are more articles you may enjoy.
New Data Centers Worth $68 Billion Disrupted in US, Data Show 
CVC-Backed Home Insurance Firm Bamboo Said to Postpone IPO 
‘Most Successful’ Hole-in-One Prize Insurance Operator Pleads Guilty to Fraud 
Cleared of Charges, NJ’s Norcross Sues Inquirer, Editor for $100M in Defamation Suit From This Issue
