FEB. 6, 2012 – Attorney General Martha Coakley filed suit against XL Specialty and its surety claims consultant Fasano & Acchione Associates for failing to repay $3 million dollars to the Commonwealth.
mass ago
Investigation of Premium Finances Cos Continues: AG Announces IPFS Corporation Will Pay $82,000
January 3, 2012 – Attorney General Martha Coakley’s office recently announced that the premium finance company IPFS has agreed to pay the Attorney General’s Office $82,000 for unlawful auto insurance cancellations by failing to provide required notice prior to canceling policies. The AG’s office says that approximately $62,942 will be paid to more than 50 […]
Premium Finance Companies To Repay $340k to Victims of Kilgore Insurance Agency Scheme
Two premium finance companies, Premium Assignment Corporation (PAC), a subsidiary of SunTrust Banks, Inc. and FIRST Insurance Funding Corp. (FIRST), a subsidiary of Wintrust Financial Corporation settled with the Attorney General’s Office last week over its roles in assisting Kilgore Insurance Agency of Peabody, MA to defraud its insureds by padding premiums by millions of […]
William Gallagher Associates Settles With Connecticut for $1.7 million
Connecticut Insurance Commissioner Thomas B. Leonardi and Attorney General George Jepsen recently announced that it had settled with the Massachusetts-based insurance broker, William Gallagher Associates, Inc., over illegal billing and concealed commissions allegations. This agreement follows the almost $4 million dollar settlement between the company and The Commonwealth of Massachusetts in 2007 involving similar allegations. […]
MAIA Drops 2012 Ballot Initiative As Its Legislative Bill Advances
By Colleen Quinn STATE HOUSE NEWS SERVICE STATE HOUSE, BOSTON, OCT. 26, 2011….Insurance agents pushing to ban insurance companies from using credit scores, educational background and other socioeconomic factors when setting auto insurance premiums have dropped their plans to pursue a 2012 ballot question after reaching an agreement with a legislative committee reviewing at the […]
