State Farm has agreed to pay a $2 million fine for having underpaid auto insurance claims. The fee was the result of a Montana Commissioner of Securities and Insurance (CSI) investigation into the insurer that lasted about two years. If corrections aren’t made, the insurer will be required to pay double the fine. State Farm is required to change its claim handling practices in order to avoid continuing to underpay auto insurance claims. If it fails to do this, it will need to pay an additional $2 million beyond the…
Read MoreState Farm slapped with $2 million fine for underpaying auto insurance claims
