According to the New York State Insurance Department, Clarendon National Insurance Company has refunded approximately $992,000 to its customers and paid $360,000 in fines after it was determined that they overcharged auto insurance policyholders when it instituted a 30 percent rate hike against 1,227 of its New York automobile insurance customers.
Most of those policyholders were New York City and Long Island insurance customers.
Although the Clarendon has yet to comment on the situation, the fine and the refunds were the result of a department review of the company, conducted after it requested permission to withdraw from the automobile insurance market in New York State.
New York and Connecticut residents who want to save money on car insurance are encouraged to shop various trusted insurance carriers. Unfortunately, most people don’t have the time to shop for the best auto insurance quotes available. That’s why using a third-party company to search for free no-obligation quotes is a safe and easy way to go.
Wednesday, March 24, 2010
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