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Insurance Commissioner Fines GEICO $275,000

Massachusetts Commissioner of Insurance Joseph G. Murphy announced a $275,000 fine against GEICO regarding inconsistencies in its reporting of accident information to state agencies and policyholders...
May 7, 2014

Massachusetts Commissioner of Insurance Joseph G. Murphy announced a $275,000 fine against GEICO regarding inconsistencies in its reporting of accident information to state agencies and policyholders. Officials say the insurer failed to notify policyholders of determinations that they were at fault for accidents and they could appeal those decisions to the Division of Insurance’s Board of Appeal. Murphy said, “The company’s actions created disruptive issues within the auto insurance marketplace in Massachusetts.” GEICO will have to properly report past data to the state; notify affected consumers, even those who are not currently policyholders, within 60 days; and modify other business practices within two years or face an additional $275,000 fine.

Insurance Commissioner Fines GEICO $275,000 (Boston Globe 5/1/14)

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