Insurance Commissioner Ricardo Lara said in a release: "While we encourage new products and innovation in our marketplace, our top priority is protecting policyholders and making sure insurance companies deliver on their promises." Credit: Beton Studio/Adobe Stock
Insurtech Go Maps, Inc. and its underwriter Topa Insurance Co. agreed to a settlement following allegations that their program had mishandled more than two dozen auto insurance claims, according to the California Department of Insurance (CDI).
Topa Insurance was fined $2.1 million, and agreed that moving forward it would have "permanent access to all policies managed by any future general agents, certify all general agents and entities hired by general agents are properly licensed," CDI reported. The insurance company is also barred from seeking any additional premiums from policyholders that might have been undercharged because of rating mistakes in the Go Maps/Topa program.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
