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Article: CAR RENTAL FIRMS SETTLE STATE INSURANCE FLAP.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- December 8, 1990
CopyrightCOPYRIGHT 1990 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: James Denn Business writer
Four major car rental companies have agreed to pay the state a total of $100,000 to drop a lawsuit that would have kept them from selling insurance without a license.
Hertz Rent-A-Car Inc., Avis Car Rental System, Budget Rent-A-Car, and National Car Rental each agreed to pay the state $25,000 without admitting guilt.
In 1987, the state Insurance Department asserted that the four companies had been selling various types of insurance to consumers without being licensed.
The companies had sold baggage, personal accident and supplemental liability coverage to consumers in New York for several years while ...