Tuesday, December 11, 2012 - 10:26pm
Insurance Commissioner's Office fines State Farm $150K
The state Insurance Commissioner's office has fined State Farm Insurance 150-thousand dollars for sending non-renewal notices that didn't contain legally-required language.
Karen Weldin-Stewart's office Tuesday announced State Farm is being penalized because its non-renewal notices sent to coastal customers didn't say those customers could file written complaints with the state, and didn't give specific reasons why their policies were being canceled.
State Farm has also agreed to suspend coastal non-renewals for 3 years, and review its procedures for accepting new customers and maintaining correct customer addresses.
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