Article: Betterment settlements

In an agreement with the Texas attorney general, Austin.Texas, -based Progressive County Mutual Insurance Co. agreed to pay $2.35 million to approximately 11,000 customers and Dallas-based Old American County Mutual Fire Insurance Co. will pay refunds of $1.07 million to an estimated 4,500 policyholders.

The agreements are the result of action by the attorney general regarding an unlawful practice known as "betterment."The insurers claimed that using better or newer parts in repairs increased the value of the repaired vehicle. The ...

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