Geico may be known as the auto insurance company with clever television ads featuring a talking gecko and sensitive cavemen, but in Connecticut, the company is known for a laundry list of infractions, according to Connecticut Insurance Commissioner Thomas Sullivan who recently announced that several Geico units had been fined a total of $177,500 for a laundry list of infractions.
Four Geico subsidiaries had been cited for improper rating, claim delays, loss of use, and using unlicensed adjusters among other violations.
While the violations varied by subsidiary, most did not comply with state law requiring that optional coverage for safety glass repair or replacement be offered at all deductible levels. The Connecticut Insurance Department also found Geico using unlicensed insurance adjusters.
Other violations included instances where units did not include in their settlements the amounts attributed to an insured's inability to use his property, which is commonly referred to as "loss of use."
"Connecticut statutes are in place to protect consumers, and violations of these laws are unacceptable." Sullivan said in a statement. "We will continue to scrutinize companies in this industry to ensure they are committed to conducting business within the boundaries of our insurance laws."
To find the best Connecticut car insurance, contact the professionals at CTNY Insurance. They shop around for the best insurance rates, so you don’t have to.
Monday, April 12, 2010
Subscribe to:
Post Comments (Atom)


0 comments:
Post a Comment