Consumer Group Files Petition to Reject National General Auto Insurance Rate, Investigate Fraud, Collusion with Wells Fargo
National General reported that in 2016 its
"This outrageously low rate of claims payments suggests that few
CFC petitioned Insurance Commissioner
- Review National General's vehicle rate hike application, its apparent excessive profits, and order a rate reduction, if appropriate.
- Investigate whether, in collusion with Wells Fargo, National General failed to adequately research the insurance coverage status of Wells Fargo's vehicle loan borrowers, inform them of its presumption of non-insurance, notify borrowers that insurance may be force-placed on them, and offer borrowers an opportunity to prove they had insurance, or to obtain their own insurance policies before National General force-placed policies on them;
- Investigate whether National General engaged in identity theft in creating secret policies without the insured's knowledge or consent; and
- Investigate whether National General paid unlawful kickbacks in the form of commissions to Wells Fargo for steering fraudulent business their way.
Since 2013, the
CFC Petition can be viewed here: https://consumercal.org/wp-content/uploads/2017/08/1-CFC-Petition-for-Hearing-and-Intervention_NationalGeneral.pdf
View original content:http://www.prnewswire.com/news-releases/consumer-group-files-petition-to-reject-national-general-auto-insurance-rate-investigate-fraud-collusion-with-wells-fargo-300501616.html
SOURCE
Paul talks health care in roundtable setting
Heritage to Acquire Narragansett Bay Insurance for $250 million to Create Leading Super Regional Personal Lines Carrier
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News