Insurer to Refund $1M to Ga. Policyholders

Georgia Insurance Commissioner John W. Oxendine announced he has ordered a Kansas insurance company to return $1,016,518 in overcharges to 159 Georgia customers.

Oxendine said Universal Underwriters Insurance Company will make retroactive premium adjustments to affected policyholders, including interest, for new or renewed policies dating back to Jan. 1, 2002.

The company must provide proof of all premium adjustments and interest paid within 30 days, and must also cease and desist from charging rates that exceed approved rating plans.

The company writes commercial coverage for auto dealerships and aftermarket service companies.

Source: Georgia Department of Insurance