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Article: Minnesota Regulators Levy $775,000 on State Farm Insurance.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 5, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. 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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Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Dec. 5--Minnesota regulators cracked down on what they called illegal and unethical business practices by State Farm Insurance on Wednesday, fining the state's largest home and auto insurer $775,000 and requiring the Bloomington, Ill.-based company to change the way it does business in the state.
State Farm did not admit wrongdoing, but agreed to settle three separate allegations brought by the state Department of Commerce, and to change some of its practices. One of the settlements is expected to reduce premiums for almost 150,000 State Farm homeowner's insurance customers across ...