OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler issued a fine of $950,000 against ACE American Insurance Co. and Indemnity Insurance Co. of North America for overcharging 18,000 Washington consumers for nearly five years. He ordered the companies to repay $4.7 million – including interest – to policyholders no later than April 15.
Reimbursements to policyholders will range from less than $1 to over $2,500.
“We found tens of thousands of law violations among the two companies,” said Kreidler. “The most egregious violations were overcharging consumers…