State Farm Hit On Auto Glass ClaimsMinnesota regulators have charged State Farm with more than 13,000 insurance law violations, exposing the company to potential fines of over $130 million for its handling of auto glass claims.
The alleged misconduct, which the company denied, led Minnesota Commerce Commissioner Jim Bernstein to denounce the firm. "State Farm claims to be a good neighbor, but it acts more like a neighborhood bully to consumers and glass shops," he declared in announcing the charges.
In a statement of charges and order to appear, the Department of Commerce, which regulates insurers, accused the Bloomington, Ill.-based company of engaging in unfair trade and claim settlement practices for glass damage claims this year and in 2001.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
