A California public adjusting firm has agreed to pay $128,707.92 in fines and restitution after investigators charged that victims of the 2003 wild fires were deceived into signing contracts unfavorable to their interests. The California Department of Insurance alleged that Kapilow & Son of Los Angeles unlawfully hired unlicensed public adjusters, who then misled four families in East San Diego County.
"The survivors of the firestorms have looked to public adjusters for help and guidance in the wake of the disaster," said Insurance Commissioner John Garamendi. "Instead, these families were allegedly duped into signing bad contracts that cost them tens of thousands of dollars, money that they needed to rebuild their lives."
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.