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Article: THOUSANDS OF SERVICE MEMBERS DEFRAUDED BY INSURANCE COMPANY
- Article from:
- US Fed News Service, Including US State News
- Article date:
- September 14, 2006
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The U.S. Army Japan issued the following article in Torii:
Some Soldiers and former service members may soon be receiving a cash refund if they purchased Horizon Life insurance from the American Amicable Group, as a result of a settlement from a class action suit alleging that the company violated insurance and consumer protection statutes in their sales and marketing to service members.
The settlement, which took effect in July, benefits more than 55,000 current and former service members who will share the $10 million refunds. Furthermore, 35,000 policy holders will receive increased cash surrender benefits within three months, to be determined by the Department of Insurance of Georgia, ...