Live Insurance News

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…

New auto insurance legislation may undermine the insurance industry in Minnesota

March 25, 2016March 23, 2016 S.Vagus

American Insurance Association opposes new legislation proposed in Minnesota New legislation in Minnesota may change the way auto insurance is regulated in the state and it has received opposition from the American Insurance Association (AIA). AIA Midwest region vice president Steve Schneider has provided testimony to the Minnesota State Senate Commerce Committee, highlighting the fact that the AIA is opposed to the legislation taking hold. The organization has expressed concern that the legislation would completely rework state law without taking into account how this would affect the solvency of the…

Auto insurance laws in Minnesota change for 2016

December 31, 2015December 29, 2015 Julie Campbell

Drivers should be aware of the new requirements and make sure to have their proof of coverage handy. For anyone in Minnesota who is getting set to purchase a new car, is purchasing a new auto insurance policy or who is renewing a policy will need to be ready to comply with the new laws. Part of those new regulations involve having to provide proof of insurance information at certain times. For instance, for residents of the state who are looking to renew their license tabs on an existing vehicle,…

Auto insurance fraud rising most quickly in Minnesota

January 28, 2013April 30, 2013

The state is now leading the country in organized scams to the vehicle coverage industry. An auto insurance news report was just issued by the Insurance Federation of Minnesota, which made a call to legislators, prosecutors, and regulators to increase their efforts to crack down on the fraud that is occurring within the industry in this state. This request is to boost the efforts that these officials have already been making for this purpose. There is already a crackdown in place to help to stop the no-fault auto insurance fraud…