Auto insurance refund on the way to many customers who bought via car dealer

January 19, 2018January 17, 2018 Logan B.

auto insurance refund Senior Man Driving A Toy Racing Car

Suncorp and Allianz will be repaying $63 million to customers who purchased through dealerships. Allianz and Suncorp are required to pay an auto insurance refund total of $63 million to customers who purchased coverage through their car dealers. The repayment is a part of a crackdown from a corporate watchdog worth $120 million regarding financing and insurance add-ons at dealerships. An investigation was conducted regarding many questionable practices such as car dealer sales tactics. Australian Securities and Investments Commission (ASIC) senior exec, Michael Saadat, is responsible for overseeing insurance companies,…

Minnesota auto insurance company to refund $315,000 to over 1,600 drivers

July 24, 2017July 22, 2017 Julie Campbell

Farmers Insurance Exchange has been accused of unfair pricing practices and is reimbursing affected policyholders. Minnesota auto insurance company, Farmers Insurance Exchange, is responding to accusations of unfair pricing practices with a refund to more than 1,600 drivers in the state. The policyholders affected by the pricing practices in question will be receiving a portion of a $315,000 total amount. The insurer is providing the refunds in response to an investigation into the way it was setting its rates. The Minnesota auto insurance provider underwent a pricing practice examination. The…

Auto insurance errors leads to over $36 million in refunds to Canadian drivers

August 13, 2014August 11, 2014 H. Cutner

At an average of $18 per year after the wrong premiums had been applied, ICBC will be paying motorists back. According to a statement that was released by the ICBC auto insurance company in Canada, it had been charging the wrong premiums to motorists because inaccurate vehicle descriptions had been applied to the calculations. However, it has also announced that new software has been implemented that will prevent a repetition of this issue. In the meanwhile, hundreds of thousands of drivers in British Columbia will be receiving refunds on their…